Fitch Ratings affirmed the senior debt ratings of Horace Mann Educators Corp. at “A-” and affirmed the “AA-” insurer financial strength (IFS) ratings on its five insurance subsidiaries. The rating outlook on the ratings has been changed to negative from stable.
Horace Mann’s ratings continue to be supported by the company’s solid risk-based capitalization and loss reserves, very strong catastrophe reinsurance protection, high quality, liquid investment portfolio and well-defined market niche.
Partially offsetting factors include the very competitive nature of the personal auto and individual annuity markets where Horace Mann competes, increased financial leverage at the holding company level and investment related losses incurred during the first half of 2002.
To submit information for this department, email:sjones@insurancejournal.com.
Was this article valuable?
Here are more articles you may enjoy.
Mississippi Insurance Dept. Top Examiner Named in $90M Credit Union Theft Suit 
California Homeowners Insurance Costs Still 41% Below National Average, Report Shows 
Capital Factory CEO Killed in Private-Jet Crash in Texas 
AM Best: Data Centers Pose Risks Beyond What P/C Industry Has Experienced From This Issue
