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Horace Mann Reports 2nd Quarter Net Loss

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NU Online News Service, Aug. 6, 3:03 p.m. – Horace Mann Educators Corp., Springfield, Mass., is reporting $19 million in net losses for the second quarter on $219 million in premium revenue, compared with a $4.9 million net loss on $218 million in premium revenue for the second quarter of 2001

Net results for the latest quarter include $41 million in investment losses, including $13 million in losses on notes and bonds issued by WorldCom Inc., Clinton, Miss., and $14 million in losses on other fixed-income securities.

Horace Mann sells life insurance and annuities as well as automobile insurance to educators.

The company’s life insurance revenue fell to $27 million, from $30 million, but its annuity deposits increased to $65 million, from $62 million.