Horace Mann Educators Corporation reported record fourth-quarter core earnings of $1.62 per diluted share, a 93% increase over the prior year. For the full year 2024, core EPS reached $3.18, more than doubling 2023 earnings, and core return on equity stood at 8.8%.
The company successfully restored Property & Casualty segment profitability, achieving a full-year combined ratio of 98%, a 15-point improvement over the prior year. This was driven by significant rate increases and underwriting actions implemented over the last three years.
Horace Mann issued optimistic guidance for 2025, expecting core EPS in the range of $3.60 to $3.90 per share and a double-digit shareholder return on equity of at least 10%. The company also noted that the commercial mortgage loan fund portfolio contributed $17 million in the second half of 2024, exceeding its mid-year estimate.
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