Horace Mann Educators raises core earnings guidance to $4.60-$4.90 per share
Horace Mann Educators reported record second-quarter core earnings of $1.17 per share, up more than 10% from the prior-year period.
The company’s property and casualty core earnings rose 56% year over year to $26 million, with a reported combined ratio improving seven points to 89.6.
Net written premiums in the segment were essentially flat at $212 million, with property premiums increasing 6% driven by higher average premiums and positive sales trends.
Favorable prior-year reserve development totaled $7 million, including $5 million in property and $2 million in auto, primarily due to lower-than-expected claims severity.