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.
Public Adjuster Accused of Swiping $600,000 in Hurricane Ian Insurance Payments 
Married Massachusetts Insurance Brokers Plead Guilty to Defrauding Clients of $750K 
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
A Little Behind Schedule, But Execs Say Sypher Insurance is on Track for May Debut From This Issue
