Moody’s lifts Horace Mann view to positive

Moody’s Investors Service said it affirmed the Baa3 senior debt rating of Horace Mann Educators Corp. and the A3 insurance financial strength ratings of its property-casualty subsidiaries and life insurance subsidiary.

Moody’s also said it changed the outlook on Horace Mann Educators to positive from stable, reflecting improved profitability and strong capital adequacy.

The outlook for the property-casualty subsidiaries remains stable.

The ratings reflect the company’s life insurance subsidiary’s niche position within the K-12 403(b) retirement plan market, good profitability and strong capital adequacy, Moody’s said.

The positive outlook also was driven by the life insurance subsidiary’s good sales momentum in recent quarters, which is expected to continue and result in profitable, incremental expansion of its market share, the agency said.

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