Horace Mann profit slides on record cat losses

Horace Mann Educators posted a 39.8 percent drop in operating
profits as catastrophe and other weather-related losses climbed to
$17.2mn, a first-quarter record for the carrier.
The insurer reported operating profit of $0.37 a share, widely
missing analysts' consensus estimate for $0.55 a share, based
on four forecasts compiled by MarketWatch.com.
Severe US weather during the first quarterdrove down profits at several large P&C carriers this year,
including Travelers, while Allstate said cat