Horace Mann Educators Corporation reported third-quarter 2024 core earnings of $0.76 per diluted share, marking a 73% increase over the prior year. Total revenues for the quarter grew 8.8% to $412.1 million, reflecting solid business performance.
The Property & Casualty segment showed significant improvement, with a reported combined ratio of 97.9%, a 19-point enhancement compared to the third quarter of 2023. This was achieved despite $34 million in catastrophe losses, including $22.5 million from Hurricane Helene, due to strong underlying results and $13 million in favorable prior year development.
The company maintained its full-year 2024 core EPS guidance in the range of $2.40 to $2.70, signaling confidence in its ongoing profitability restoration strategy. Sales saw double-digit increases in auto, life, and individual supplemental lines, with 403(b) deposits also rising by 9%.
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