Horace Mann sees Q1 core EPS 21c-23c, consensus 38c

Catastrophe losses for the first quarter of 2023 are expected to be in the range of $22 million to $23 million, pretax, contributing about 15 points to the first-quarter combined ratio, compared to $7.3 million, or 4.8 points, in last year’s first quarter. In total, there were 23 events designated as catastrophes by Property Claims Services (PCS) in this year’s first quarter, compared to 11 events in the first quarter of 2022. "Horace Mann claims representatives responded quickly and compassionately to policyholders affected by the storms. I’m proud of our team for delivering on our promise to help educators when they need it most," said Horace Mann President and CEO Marita Zuraitis. The company continues to expect full-year catastrophe losses will represent about 10 points on the full-year combined ratio.