Educational financial services, life assurance and pensions company Horace Mann Educators Corporation has reported first-quarter 2021 net income of $930,000, up 111.4% compared to net income of $440,000 million reported for Q1 2020.
Revenue for the quarter was $322 million, up 4.8% from $307.3 million reported for the first quarter of last year.
Horace Mann president and chief executive Marita Zuraitis said: “Our strong first-quarter results are a solid start to 2021 and reflect the value that Horace Mann continues to provide to the education market. Since the beginning of the Covid-19 pandemic, educators have worked tirelessly to reach their students – working longer hours in multiple classroom environments, while still dealing with the impact of the pandemic on their personal lives.
“The adjustments that we made at Horace Mann over the past year to adapt to a fully virtual model – online financial workshops, ease of doing business enhancements, and virtual engagement events – will only strengthen our market position as we enter the more normal 2021-2022 school year. We are also ready to leverage the steps we have taken in distribution, most notably the full integration of the supplemental agency force. We are seeing encouraging signs of sales momentum, particularly in product areas such as retirement savings and traditional term and whole life insurance, as the vaccine rolls out and schools reopen.”
Date published: 5 May 2021