Horace Mann Issues Earnings Warning

Horace Mann Educators Corp. expects second-quarter results to fall well below analyst expectations based on non-catastrophic property-loss claims. The company made the announcement today, saying it also is planning several initiatives including expanding some rate increases to offset expected second-quarter operating earnings of between 23 and 25 cents per share.

Analysts had estimated the company would post earnings of 38 cents per share. Horace Mann cited property losses including those on lower-value homes, non-catastrophe weather claims and greater-than-expected fire losses for the shortfall.