Claims Ratio % is the percentage of claims costs incurred in relation to the premiums earned.
Horace Mann Educators's Claims Ratio % for the quarter that ended in Dec. 2023 was 74.00%
, which is lower than
82.60% for the pervious quarter ended in Sep. 2023.
Horace Mann Educators's Claims Ratio % for the annual that ended in Dec. 2023 was 84.40%
, which is lower than
91.80% for the pervious year ended in Dec. 2022.
The historical rank and industry rank for Horace Mann Educators's Claims Ratio % or its related term are showing as below:
HMN's Claims Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Claims Ratio % only.
Horace Mann Educators Claims Ratio % Historical Data
The historical data trend for Horace Mann Educators's Claims Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Competitive Comparison of Horace Mann Educators's Claims Ratio %
For the Insurance - Property & Casualty subindustry, Horace Mann Educators's Claims Ratio %, along with its competitors' market caps and Claims Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Horace Mann Educators (NYSE:HMN) Claims Ratio % Calculation
Claims Ratio % is calculated as
Claims Ratio %
=
Total Claims
/
Total Premiums Earned
*
100%
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Horace Mann Educators (NYSE:HMN) Claims Ratio % Explanation
Claims Ratio % the percentage of claims costs incurred in relation to the premiums earned during the period. It is the equivalent of gross profit margin for an insurance company.
It's important to note that insurance is the business of managing risks and, to do that well, the insurer needs a thorough understanding of the incurred claims ratio. If the value is higher than expected or above established norms, then further investigation is required to figure out why that is (eg: fraud). If it is lower than expected, it could indicate irrelevant products or difficulties in claiming, possibly affecting customer satisfaction.
Horace Mann Educators Claims Ratio % Related Terms
Thank you for viewing the detailed overview of Horace Mann Educators's Claims Ratio % provided by GuruFocus.com. Please click on the following links to see related term pages.
Horace Mann Educators (Horace Mann Educators) Business Description
Horace Mann Educators Corp is a diversified insurance holding company that markets and underwrites personal lines of property and casualty insurance, retirement annuities, and life insurance. The company's property and casualty operations focus on automobile and homeowner insurance, while the retirement annuities are 403(b) tax-qualified products. Horace Mann Educators markets its products to kindergarten through 12th-grade teachers, administrators, and other employees of public schools and their families. The company uses several former teachers in its salesforce. Its segments include Property and Casualty, Supplemental & Group Benefits, Life & Retirement and Corporate and Other.
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