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US: Dramatic quarterly income drop for Horace Mann

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Educational financial services, life assurance and pensions company Horace Mann Educators Corporation has reported first-quarter 2022 net income of $14.5 million, down 63.1% from net income of $3.17 million reported for the first quarter of 2021.

The Springfield, Illinois-based company reported revenue for the quarter was $346.8 million, up 7.7% from $322 million reported for Q1 2021.

Horace Mann president and chief executive Marita Zuraitis said: “In the first quarter of 2022, we officially welcomed about 340,000 educator households and 80 employees to Horace Mann with the completion of our acquisition of Madison National Life Insurance Company. Horace Mann can now reach educators through employer-sponsored benefits at the district level, as well as through our direct channels and local, trusted advisors with insurance and financial services solutions.

“As we continue to leverage our education market focus, we remain confident that we will increase our share of the education market as we grow through all channels over the course of the next several years.”

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