Horace Mann Estimates Impact Of Second Quarter Catastrophes of $28-30M Pre-Tax
Horace Mann Educators Corporation (NYSE: HMN) estimates its financial impact from weather-related catastrophe activity during the three months ended June 30, 2012 will total $28 million to $30 million before tax (approximately $0.44 to $0.47 per share after tax). This range includes the estimated incurred losses and loss adjustment expenses from 13 catastrophe events that occurred during the quarter, the most significant being a prolonged stretch of severe weather in the central and eastern U.S. that occurred at the end of June.
The events also included hail and other storm activity in late April and in the month of May. The company's catastrophe losses for the three months ended June 30, 2011 were $55.0 million before tax, or $0.90 per share after tax.
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