Horace mann reports fourth quarter 2016 net income per share of $0.48; operating eps of $0.52 _ financialcontent business page

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“Horace Mann’s full year operating income of $1.97 per diluted share included fourth quarter operating income of $0.52 per diluted share. Silver chart 1 year Fourth quarter earnings reflected strong investment returns in all business lines, an elevated level of Property and Casualty catastrophe losses, largely related to Hurricane Matthew, offset by a 1.7 point improvement in underlying Property and Casualty results. Futures market wiki Sales results in the Life segment remain strong, with continued double-digit momentum, and we experienced 6% growth in Property and Casualty sales for the full year,” said Horace Mann’s President and Chief Executive Officer Marita Zuraitis.

“We are projecting full-year 2017 operating income to between $1.95 and $2.15 per share,” stated Zuraitis. Exchange rate pound us dollar “This estimate anticipates continued improvement in our underlying auto combined ratio, modeled catastrophe losses, as well as modestly lower earnings in the Retirement and Life segments reflecting lower net interest spreads and approximately $0.10 cents of continued strategic investments across all lines of business.”

For the full year, Property and Casualty net income of $25.6 million decreased 36%, or $14.4 million, compared to the prior year. Stock market futures On a combined ratio basis, the full year Property and Casualty combined ratio increased 4.5 points to 101.5%. Dollar to yen exchange rate today The majority of the increase in the combined ratio was due to a 2.3 point increase in catastrophe losses, or an increase of $15.6 million on a pretax basis. Euro to us dollar exchange rate today 1.0 point of the increase, or $5.5 million on a pretax basis, was related to a lower level of favorable prior years’ reserve development in 2016 compared to the full year 2015. Canadian dollar indian rupee exchange rate On an underlying basis, the combined ratio increased 1.2 points to 92.9%. Futures stock market definition The underlying auto combined ratio increased 2.4 points, to 105.1%, primarily as a result of higher loss frequency and severity. Love quotes for boyfriend tagalog This increase was somewhat offset by a 1.7 point improvement in the underlying property combined ratio, which for full year 2016 was 68.6%. Binary quiz The improvement in property results was primarily driven by the impacts of profitability improvement initiatives, as well as lower catastrophe reinsurance costs.

For the fourth quarter of 2016, Property and Casualty net income of $9.6 million increased 22%, or $1.7 million, compared to the prior year. Euro to pound exchange rate forecast The Property and Casualty combined ratio of 99.1% increased 0.5 points compared to the fourth quarter of 2015, as a result of 2.3 points of higher catastrophe losses, compared to the prior year. Convert inr to usd Favorable prior years’ reserve development of 1.7 points, or $2.7 million pretax in the current quarter was $0.2 million pretax higher than the amount a year ago. Usd in euro rechner On an underlying basis, the fourth quarter auto combined ratio of 108.2% improved 1.4 points, and the property combined ratio of 64.3% improved 3.3 points compared to a year ago. Idr to usd converter These improvements were primarily due to lower expense ratios and continued profitability initiatives.

Total Property and Casualty written premiums of $158.0 million and $634.3 million for the three and twelve months ended December 31, 2016, respectively, each increased 5% compared to the prior year. Usd to rmb chart The growth was driven primarily by increases in average premium per policy for both auto and property, as well as lower catastrophe reinsurance costs.

Total Property and Casualty sales increased 1% and 6% compared to the three and twelve months ended December 31, 2015, respectively. Us stock market futures real time Auto sales were flat for the current quarter but increased 6% for the year, while property sales increased 7% and 5% for the respective periods. Binary code translator to english Policy retention continues to be strong with auto and property policy retention rates for the current year at 84% and 88%, respectively.

On a reported basis, Retirement segment net income of $11.4 million and $50.7 million for the fourth quarter and full year, increased 10% and 17%, respectively, compared to the same periods in 2015. Us dollar exchange rate indian rupee The impact of unlocking increased pretax income by $2.4 million and $3.7 million as compared to the three and twelve months ended December 31, 2015, respectively.

For the fourth quarter of 2016, Retirement segment net income, excluding deferred policy acquisition costs unlocking (“unlocking”), was $10.8 million, a decrease of $0.6 million compared to the prior year. What are stock market futures For the full year, net income on the same basis, or $50.5 million, increased $4.9 million compared to 2015.

The Retirement segment results reflect an increase in net interest margin of $1.7 million for the fourth quarter and $12.4 million for the full year partially offset by an increase in operating expenses. Binary words The increase in expenses primarily reflected costs related to the Company’s continued infrastructure and strategic investments.

The 2016 annualized net interest spread on fixed annuity assets improved 9 points, to 193 basis points.


Ucsd my chart The improvement reflected strong investment portfolio performance, including the impact of prepayment activity in the Company’s fixed income portfolios, as well as favorable returns on alternative investments. Text to number converter Total annuity assets under management of $6.4 billion increased 7% compared to the prior year, and total cash value persistency remained strong at approximately 95%.

For the three months ended December 31, 2016, annuity deposits of $128.3 million increased 2% compared to the prior year period, while annuity deposits of $520.2 million for the full year 2016 decreased 5% compared to a year ago. 1 usd to ils The majority of the decline in annuity deposits for the current year was due to an elevated level of non-recurring deposits in the first half of 2015 related to changes in the Company’s employee retirement savings plans.

Horace Mann’s total annuity sales decreased 3% and 4% for the current quarter and full year, respectively, with the full year change primarily reflecting reductions in single premium and rollover deposits, largely related to the Company’s employee retirement savings plans.

Life segment net income of $3.5 million for the fourth quarter of 2016 decreased $0.9 million compared to the prior period. Exchange rate usd inr On a full year basis, the Life segment net income of $16.6 million increased $1.6 million compared to the prior period, primarily as a result of an increase in investment income and a decrease in mortality expenses in 2016.

Life segment insurance premiums and contract deposits of $29.6 million and $108.0 million for the fourth quarter of 2016 and full year, increased 4% and 5%, respectively, compared to the same periods in 2015. Decode binary Life sales of $4.9 million increased $1.4 million compared to the fourth quarter of 2015, primarily due to a $1.5 million increase in single premium sales. Usd mxn On a year-to-date basis, Life sales of $15.6 million increased $4.7 million, with the majority of the increase attributable to single premium sales. Python example script Life persistency of 96% was comparable to 12 months earlier.

Total net investment income increased 7% and 9% compared to the three and twelve months ended December 31, 2015, respectively. 1 usd to inr in xoom While asset balances in the Retirement segment continued to grow, overall investment results reflected the increase in investment prepayment activity and favorable returns on alternative investments, partially offset by the impact of the current low interest rate environment. Binary translator Pretax net realized investment gains (losses) were $(2.8) million and $4.1 million for the three and twelve months ended December 31, 2016, respectively.

Horace Mann’s net unrealized investment gains on fixed maturity and equity securities were $312.2 million at December 31, 2016, compared to net unrealized investment gains of $309.8 million at December 31, 2015.

Though no share buyback activity occurred in the fourth quarter, the Company repurchased 701,410 shares of its common stock at an aggregate cost of $21.5 million under its share repurchase program during 2016. 100 usd to eur As of December 31, 2016, the Company had a remaining authorization of $29.5 million.

Horace Mann’s senior management will discuss the company’s fourth quarter financial results with investors and analysts on February 7, 2017 at 9:00 a.m. 99 usd Eastern Time. Usd nzd exchange rate The conference call will be webcast live on the Internet at investors.horacemann.com and archived later in the day for replay.

Horace Mann — the largest financial services company focusing on educators’ financial needs — provides auto, homeowners and life insurance, retirement products and other financial solutions. Fundamentals of futures and options markets pdf 8th Founded by Educators for Educators ® in 1945, the company is headquartered in Springfield, Ill. Famous quotes by famous people For more information, visit www.horacemann.com.

Statements included in this news release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Eur usd rate Horace Mann is not under any obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Euro to inr chart Please refer to the company’s Quarterly Report on Form 10-Q for the period ended September 30, 2016 and the company’s past and future filings and reports filed with the Securities and Exchange Commission for information concerning the important factors that could cause actual results to differ materially from those in forward-looking statements. Eu to usd The information contained in this press release includes financial measures which are based on methodologies other than United States generally accepted accounting principles (“GAAP”). Dollar vs rupee exchange rate today Reconciliations of non-GAAP measures to the closest GAAP measures are contained in the supplemental numerical pages of this release and additional descriptions of the non-GAAP measures are contained in the Glossary of Selected Terms included as an exhibit to the company’s SEC filings.


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