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Horace Mann Educators HMN SPIA (life contingent) — Adjusted balance

Other product segments

Experience life
$755.9M-3.3%
Term Life
$432.5M-1.2%
Limited-Pay Whole Life
$118.6M+2.8%

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VOYAEmployee Benefits Group — Adjusted balance at January 1
$791M+0.4%
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VOYAEmployee Benefits Voluntary — Adjusted balance at January 1
$548M+6.0%
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AGOAnnuity Reinsurance — Ending balance at original discount rate
$461M
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RGALife Insurance Product Line — Liability for Future Policy Benefit, Expected Future Benefit, Original Discount Rate, before Reinsurance, after Cash Flow Change
19,986,200,000,000%+1,279,200,000,000pp

Other financials

Income statement

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Revenue$443.5M+7.7%
Net income$41.6M+41.5%
EPS (diluted)$1.01+42.3%

Balance sheet

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Cash & equivalents$46.2M+13.0%
Total debt$594.2M+8.5%
Total equity$1.5B+10.5%
Total assets$15.6B+5.9%

Cash flow

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Operating cash flow$223.7M+70.4%

Valuation

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Market cap$2.1B+21.9%
Enterprise value$2.65B+18.7%
P/E11.9×-0.5×
P/S1.2×+0.2×

Profitability

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Net margin10.2%+1.7pp

Returns & leverage

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Return on equity12.4%+1.5pp
Debt / equity0.4×0.0×

Where this comes from

Reported directly by Horace Mann Educators in its filing.

Tagged under the XBRL concept us-gaap:LiabilityForFuturePolicyBenefitExpectedFutureBenefitOriginalDiscountRateBeforeReinsuranceAfterCashFlowChange.

The source filing: Horace Mann Educators’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 12:31 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000850141-26-000033
($ in millions)Whole LifeTerm LifeExperience Life(1)Limited-Pay Whole LifeSupplemental Health(2)SPIA (life contingent)
Effect of:
Changes in cash flow assumptions
Actual variances from expected experience(0.5)(1.2)0.11.3(0.1)
Adjusted balance at April 1, 2026615.3432.5755.9118.6465.2101.6
Issuances2.85.60.54.7
Interest accruals5.44.511.11.13.51.0
Benefit payments(6)(7.0)(5.2)(16.1)(0.9)(9.1)(2.9)
June 30, 2026 balance at original discount rate616.5437.4750.9119.3464.399.7

Item 1. Consolidated Financial Statements

FAQ

What is Horace Mann Educators's SPIA (life contingent) — adjusted balance?
Horace Mann Educators (HMN) reported SPIA (life contingent) — adjusted balance of $101.6M in Q1 2026.
How has Horace Mann Educators's SPIA (life contingent) — adjusted balance changed year-over-year?
Horace Mann Educators's SPIA (life contingent) — adjusted balance decreased by 4.3% year-over-year, from $106.2M to $101.6M.
What does SPIA (life contingent) — adjusted balance mean?
This represents the total carrying value of the life contingent annuity liability after accounting for all periodic adjustments, including interest, benefit payments, and assumption updates. It reflects the current financial obligation the company holds toward policyholders within this specific retirement product segment. Monitoring this balance is essential for assessing the company's long-term capital requirements and solvency position.

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