US: Horace Mann reports second-quarter loss
Educational financial services, life assurance and pensions company Horace Mann Educators Corporation has reported a second-quarter 2022 net loss of $12.5 million, compared to net income of $46.7 million reported for the second quarter of 2021.
Revenue for the quarter was $346.3 million, down 0.2% from $347.1 million reported for Q2 2021.
The Springfield, Illinois-based company also reported results for the first six months of 2022. Net income was $2 million, down 97.7% from net income of $86 million reported for the first six months of last year. Revenue for the six-month period was 693.1%, up 3.6% from $669.1% reported in the first half of 2021.
Horace Mann president and chief executive Marita Zuraitis said: “At the core of our company is a dedication to and respect for the education profession, and we remain more committed to that mission than ever. In the second quarter, our policyholders were affected by a number of severe weather events, and our claims team worked tirelessly to fulfil our promise to be there when our customers need us.
“We are seeing steady progress in our ability to engage with educators. As the more severe effects of the pandemic are receding, educators are finding they have more time to devote to planning for their future, and improving school access continues to expand our options for virtual and in-person interactions. When educators return to classrooms later this month, we will be there to help them meet new challenges and prepare for a lifetime of financial success. Our teams will be working with school districts to provide financial workshops on topics like student loan solutions and retirement readiness, enrolling new participants in benefit programmes, and having individual discussions with educators about how to best protect what they have today and prepare for a successful tomorrow.”