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Horace Mann expects 'elevated' Q2 cat losses


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Horace Mann expects 'elevated' Q2 cat losses

Horace Mann EducatorsCorp. is estimating a second-quarter pretax financial impact of $27million to $28 million from weather-related catastrophes.

The estimate for losses represents 17 to 18 percentage pointson the company's expected second-quarter combined ratio of 111 to 112 percentagepoints, or about 42 cents to 44 cents per share after tax. Horace Mann Presidentand CEO Marita Zuraitis said in a news release that property catastrophe losseswere elevated and auto losses were "significantly higher than planned,"as bad weather led to an increase in frequency during the quarter.

The company saw catastrophe losses from 14 events, with the mostsignificant being severe weather in Texas and in the Midwest.