Horace Mann Estimates Third-Quarter 2021 Catastrophe Losses in Range of $35-$40 Million, Partially Offsetting Continued Strong Business Performance
October 04 2021 - 3:30PM
Business Wire
To announce third-quarter financial results on
November 3 with conference call to discuss results at 11:00 a.m.
Eastern Time on November 4
Horace Mann Educators Corporation (NYSE:HMN) today announced
third-quarter catastrophe losses are expected to be in the range of
$35 million to $40 million, pretax, most notably driven by the
effects of Hurricane Ida. Estimated losses from that storm are
approximately $20 million to $25 million, largely due to
policyholder losses in the Gulf states. In total, there were 24
events designated as catastrophe losses in the period by Property
Claims Services (PCS) compared with 30 events in the third quarter
of 2020 and 17 events in the third quarter of 2019.
“Horace Mann claims representatives responded quickly and
compassionately to policyholders affected by Hurricane Ida. I’m
proud of our team for delivering on our promise to help educators
when they need it most,” said Horace Mann President and CEO Marita
Zuraitis.
“Third-quarter results will reflect continued strong net
investment income performance, the first steps toward the sales
trends we have been anticipating and the growing value of our
diversification into the Supplemental business line," Zuraitis
added. “We will update our full-year 2021 guidance and comment on
our 2022 outlook when we report third-quarter results.”
The company continues to assume fourth-quarter catastrophe
losses will be in line with the company’s $7 million to $9 million
10-year average.
Third-quarter 2021 earnings call
Horace Mann plans to release its third-quarter 2021 results on
Wednesday, November 3, after the market closes. At that time, the
quarterly news release and investor supplement will be available on
the company’s website at investors.horacemann.com.
Management will host a conference call to discuss the financial
results on Thursday, November 4, at 11:00 a.m. Eastern Time.
Investors can access the call webcast via the Events page of the
company’s investor site or by dialing 844-735-3325. For the
webcast, please log on to the site several minutes in advance to
register and download any required audio software. On-demand replay
will be available later that day.
About Horace Mann
Horace Mann is the largest financial services company focused on
providing America's educators and school employees with insurance
and retirement solutions. Founded by Educators for Educators® in
1945, the company is headquartered in Springfield, Ill. For more
information, visit horacemann.com.
Safe Harbor Statement
Statements included in this news release that are not historical
in nature are forward-looking within the meaning of the Private
Securities Litigation Reform Act of 1995 and are subject to certain
risks and uncertainties. Horace Mann is not under any obligation to
(and expressly disclaims any such obligation to) update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. Please refer to the
company's Quarterly Report on Form 10‑Q for the period ended June
30, 2021, and the company's past and future filings and reports
filed with the Securities and Exchange Commission for information
concerning the important factors that could cause actual results to
differ materially from those in forward-looking statements.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20211004005936/en/
Heather J. Wietzel, Vice President, Investor Relations
217-788-5144 | investorrelations@horacemann.com
Horace Mann Educators (NYSE:HMN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Horace Mann Educators (NYSE:HMN)
Historical Stock Chart
From Jul 2023 to Jul 2024