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.
Three Sentenced in Bear-Suit Attacks Insurance Fraud Case 
State High Court Weighs in on Woman Taken for Organ Donation But Was Still Alive 
AI Ruling Prompts Warnings From Lawyers: Your Chats Could Be Used Against You 
AI for the Defense: Should Insurers or Law Firms Pay? From This Issue
