Horace Mann Estimates Impact of Third-Quarter Catastrophe Losses
19 October 2018 - 7:15AM
Business Wire
Third-quarter results to be released Oct. 30;
management conference call Oct. 31
Horace Mann Educators Corporation (NYSE:HMN) estimates
weather-related catastrophe losses during the three months ended
September 30, 2018, will total $31 to $34 million on a pre-tax
basis. Significant events included Hurricane Florence in the
Carolinas, a major hailstorm in Colorado, and the Carr Wildfire in
California.
The catastrophe loss estimate would represent approximately 18
to 20 percentage points on the company's third quarter 2018
combined ratio, or approximately $0.59 to $0.64 per diluted share
after tax.
"The number and severity of catastrophe weather events worldwide
continues to increase, a trend that was particularly pronounced
this quarter, with three times as many as a year ago," said Horace
Mann President and CEO Marita Zuraitis. PCS declared 18 U.S.
catastrophe events in the third quarter of 2018, compared to six in
the third quarter of 2017.
"Our underlying Property and Casualty results remain in line
with our guidance and we will update our full-year outlook on our
third-quarter conference call," Zuraitis added.
Management Conference Call on October 31 at 9 a.m. ET
Horace Mann plans to release its third-quarter 2018 results on
Tuesday, October 30, 2018, after the market closes. The
quarterly news release and investor supplement will be available on
the company’s website at investors.horacemann.com. Management will
host a conference call to discuss the financial results on
Wednesday, Oct. 31, 2018, at 9 a.m. ET.
A webcast of the call will be available live on the Events page
of the company’s investor site. Please log on to the site
15 minutes in advance to register for access to the call and
download any required audio software. On-demand replay will be
available later that day.
What: Third-Quarter 2018 Conference Call
When: 9 a.m. ET on October 31, 2018
Access Live:
Events page at investors.horacemann.com
Toll-free: 877-269-7756 ID Number:
13684369
Other: 201-689-7817
About Horace Mann
Horace Mann Educators Corporation (NYSE: HMN) is the largest
financial services company focused on providing America’s educators
and school employees with insurance and retirement solutions.
Founded by Educators for Educators® in 1945, the company is
headquartered in Springfield, Illinois. For more information, visit
horacemann.com.
Safe Harbor Statement & Non-GAAP Measures
Statements included in this news release that are not historical
in nature are forward-looking within the meaning of the Private
Securities Litigation Reform Act of 1995 and are subject to certain
risks and uncertainties. Horace Mann is not under any obligation to
(and expressly disclaims any such obligation to) update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise. Please refer to the
company's Quarterly Report on Form 10-Q for the period ended June
30, 2018, and the company's past and future filings and reports
filed with the Securities and Exchange Commission (SEC) for
information concerning important factors that could cause actual
results to differ materially from those in forward-looking
statements. Information contained in this press release includes
measures which are based on methodologies other than accounting
principles generally accepted in the United States (GAAP).
Reconciliations of non-GAAP measures to the closest GAAP measures
are contained in the Appendix to the Investor Supplement and
additional descriptions of the non-GAAP measures are contained in
the Glossary of Selected Terms included as an exhibit to the
company’s SEC filings.
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version on businesswire.com: https://www.businesswire.com/news/home/20181018005928/en/
Horace Mann Educators CorporationHeather J. WietzelVice
President, Investor
Relations217-788-5144investorrelations@horacemann.com
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