Horace Mann

While the direct channel has strengthened over the past year, Root has not grown auto PIF since Q1:20.

CEO Zuraitis said the company’s nearly $9mn in recoveries allowed it to achieve "below market" pricing on its program.

Underwriting income fell by 6% to $16mn, as lower earned premiums outweighed a modest improvement in margins.

Core earnings per share of $0.82 surpassed analysts’ consensus estimate of $0.68 per share.

The “empty-street” economy has left auto exposed names in a relatively favorable position, highlighted by a second quarter of strong earnings growth and beats when compared to street estimates.

A temporary reduction in auto loss frequency offset 22 points of catastrophe losses.

Horace Mann released Q4 results with adjusted EPS of $0.75, beating consensus estimates.

Horace Mann's results stemmed from a 13.9 point decline in its P&C combined ratio to 96.2%.

Headline rate changes at lows not seen since 2007/8, in line with Q2:19 management commentary pointing to growth initiatives, and peak margins at leading firms.