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Horace Mann Educators Corporation (NYSE: HMN) is a diversified insurance holding company that offers a comprehensive range of financial services and insurance products tailored specifically for educators and their families. Founded in 1945 by two educators in Springfield, Illinois, the company honors the legacy of Horace Mann, the father of the American public education system. Initially known as the Illinois Education Association Mutual Insurance Company, the firm has since evolved into the largest national multiline insurance company dedicated to serving America's educators.
Horace Mann provides personalized service and advice through its professional agents and staff, offering insurance and financial products to the educational community across the United States. The company's core offerings include auto, homeowners, and life insurance, as well as retirement annuities. Their financial products are designed to ensure lifelong financial well-being for educators and their families.
The company's segments include Property and Casualty, which focuses on automobile and homeowner insurance, Supplemental & Group Benefits, Life & Retirement, which offers 403(b) tax-qualified retirement annuities, and Corporate and Other. Horace Mann employs several former teachers in its salesforce, ensuring that they understand the unique needs of their clientele.
Recently, Horace Mann announced a partnership with SimpliSafe, a maker of award-winning home security systems. This partnership provides Horace Mann policyholders with exclusive discounts on SimpliSafe systems, ensuring both financial and physical security for educators. This collaboration underscores the company's commitment to offering exceptional customer experiences and enhanced security solutions for educators.
The financial stability of Horace Mann Educators Corporation is noteworthy, with a strong commitment to ethical practices and community service. The company continues to grow and innovate, ensuring that they meet the evolving needs of the educational community. For more information, visit the company's website at horacemann.com.
Horace Mann Educators (NYSE:HMN) reported strong third-quarter 2024 results with net income of $34 million ($0.83 per share) and core earnings of $31 million ($0.76 per share). Total revenue increased 9% for the quarter, with net premiums and contract charges also up 9%. The Property & Casualty combined ratio improved to 97.9%, showing a 19-point improvement over the prior year. The company maintained its full-year 2024 core EPS guidance of $2.40-$2.70. Book value per share reached $31.60, while adjusted book value per share was $36.89 at quarter end.
The company reported double-digit sales growth in Auto, Life, and Individual Supplemental lines of business, demonstrating progress in their market expansion strategy.Horace Mann Educators (NYSE:HMN) has announced a new partnership with TransUnion (NYSE: TRU) to enhance its financial wellness offerings for educators. The collaboration introduces HMScore™, a free credit education and tools program designed to empower teachers nationwide.
HMScore™ provides educators with access to their TransUnion credit report and score, credit monitoring, and TransUnion's score simulation tool. This digital interface aims to help educators understand their credit picture and actively manage their financial health. The program is part of Horace Mann's broader initiative to support educators' financial success, which includes services such as student loan assistance, insurance products, and retirement planning.
Educators can access these new tools by visiting horacemann.com/hmscore. This partnership reflects Horace Mann's ongoing commitment to providing innovative resources that support educators in achieving their financial goals.
Horace Mann Educators (NYSE:HMN) has announced plans to release its third-quarter 2024 financial results on Monday, November 4, after the market closes. The company will make available its third-quarter Quarterly Report on Form 10-Q, quarterly news release, investor supplement, and investor presentation on its website at investors.horacemann.com.
Following the release, Horace Mann will host a conference call to discuss the financial results on Tuesday, November 5 at 1:00 p.m. Eastern Time. Investors can access the call via webcast on the company's investor site or by dialing 844-735-3325. The company advises logging on to the site in advance to register and download any required audio software. An on-demand replay of the call will be available later that day.
Horace Mann Educators (NYSE:HMN) has announced key executive changes. Ryan Greenier will be appointed Executive Vice President and Chief Financial Officer on Oct. 1, 2024, succeeding Bret Conklin, who plans to retire in 2025. Greenier, previously Deputy CFO, brings strong financial experience and expertise to the role.
Additionally, Chief Operating Officer Stephen McAnena has assumed responsibility for Horace Mann's Worksite division, now overseeing all business operations. These changes are part of the company's thoughtful executive succession planning to ensure stability while executing its growth strategy.
President and CEO Marita Zuraitis expressed gratitude for Conklin's leadership and confidence in Greenier's capabilities to optimize the company's financial performance and maintain strong relationships with investors and rating agencies.
Horace Mann Educators (NYSE:HMN) has announced a regular quarterly cash dividend of $0.34 per share. The dividend will be payable on September 30, 2024, to shareholders of record as of September 16, 2024. This declaration by the Board of Directors demonstrates the company's commitment to providing consistent returns to its shareholders. The dividend announcement is a positive signal for investors, indicating the company's financial stability and confidence in its future performance.
Horace Mann Educators (NYSE:HMN) reported its second-quarter 2024 financial results. The company achieved net income of $4 million, or $0.09 per share, and core earnings of $8 million, or $0.20 per share. Total revenue increased by 9% for the quarter, with net premiums and contract charges earned up 8%. The Property & Casualty combined ratio improved by 13 points over the prior year. However, the company revised its full-year 2024 core EPS guidance to $2.40-$2.70 due to lower-than-expected net investment income in the Life & Retirement segment. Horace Mann's book value per share stood at $29.60, while the adjusted book value per share was $36.33 at quarter-end.
A Horace Mann Educators (NYSE:HMN) survey reveals that educators face significant challenges as they prepare for the upcoming school year. Rising supply costs and preparation time are primary concerns. 25% of teachers spend over $500 of their own money on classroom supplies annually, while another 25% spend more than $300.
Teachers are working unpaid hours during summer vacations to prepare classrooms, create lesson plans, and attend workshops. Many feel there's insufficient time to complete all tasks before students arrive. To address these challenges, Horace Mann has launched the 'Set for Success' Sweepstakes, offering 100 educators a chance to win a $250 gift card and 25 schools an opportunity to receive $1,000 for welcoming teachers back.
Horace Mann Educators (NYSE:HMN) has revised its full-year 2024 core EPS guidance to $2.40-$2.70, with Q2 core EPS expected at $0.18-$0.20. The revision is primarily due to lower-than-expected net investment income from valuation adjustments in commercial mortgage loan funds. Despite this, the company reports strong sales growth across multiple business lines, with P&C sales increasing over 30%.
The company narrowed its P&C segment earnings guidance to $36-$39 million, with Q2 catastrophe losses estimated at $40-$42 million pretax. The Supplemental & Group Benefits segment's full-year earnings estimate was increased to $49-$52 million due to lower-than-expected benefits utilization. Horace Mann remains confident in achieving a 10% return on equity by 2025 through its P&C restoration strategy and profitable growth initiatives.
Horace Mann Educators (NYSE: HMN) will release its second-quarter 2024 financial results on August 7, after market close. The Quarterly Report on Form 10-Q, quarterly news release, investor supplement, and presentation will be available on the company's investor website.
A conference call to discuss these results is scheduled for August 8 at 9:00 a.m. Eastern Time. Investors can access the webcast through the company's investor site or by dialing 844-735-3325. An on-demand replay will be available later that day.
Horace Mann Educators (NYSE: HMN) has declared a quarterly cash dividend of $0.34 per share.
The dividend will be payable on June 28, 2024, to shareholders who are on record as of June 13, 2024.
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