NU Online News Service, Aug. 7, 2:15 p.m. – Horace Mann Educators Corp., Springfield, Ill., is reporting a $4.9 million net loss for the second quarter on $196 million in revenue, compared with a net profit of $9.7 million on $198 million in revenue for the second quarter of 2000.
The operating loss was $1.4 million, down from an operating profit of $9.6 million.
Horace Mann sells property-casualty insurance as well as life insurance and annuities to teachers. Moves to strengthen property-casualty reserves hurt results, the company says.
The operating results exclude contributions to the reserves and $3.6 million in losses on investments sold during the quarter.
