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Horace Mann Educators HMN Limited-Pay Whole Life — Capitalizations

Other product segments

Term Life
$900K-10.0%
Experience life
$0-100%

Similar metrics at other companies

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CIAPermanent Limited Pay — Capitalizations
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GLLife — Capitalizations
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KKRInterest Sensitive Life — Capitalizations
$1.44M-14.2%
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KMPRLife Insurance — Capitalizations
$19.1M+7.9%
Globe Life logo
GLOther — Capitalizations
$3.13M+11.4%
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CIAPermanent — Capitalizations
$8.93M+2.3%

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$2.19B+26.6%
Enterprise value$2.73B+22.4%
P/E12.3×0.0×
P/S1.3×+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:DeferredPolicyAcquisitionCostsAdditions.

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)Three Months Ended June 30, 2026 / Whole LifeThree Months Ended June 30, 2026 / Term LifeThree Months Ended June 30, 2026 / Experience LifeThree Months Ended June 30, 2026 / Limited-Pay Whole LifeThree Months Ended June 30, 2026 / Indexed Universal LifeThree Months Ended June 30, 2026 / Supplemental HealthThree Months Ended June 30, 2026 / Total Annuities
Balance, beginning of period$25.1$35.9$5.1$8.3$23.9$14.6$206.4
Capitalizations0.70.90.21.31.43.4
Amortization expense(0.3)(0.8)(0.1)(0.1)(0.3)(0.4)(4.1)
Experience adjustment(0.1)(0.4)
Balance, end of period$25.5$35.9$5.0$8.4$24.9$15.6$205.3
($ in millions)Three Months Ended June 30, 2025
Whole LifeTerm LifeExperience LifeLimited-Pay Whole LifeIndexed Universal LifeSupplemental HealthTotal Annuities
Balance, beginning of period$24.1$34.5$5.4$8.0$19.8$11.2$210.4

Item 1. Consolidated Financial Statements

FAQ

What is Horace Mann Educators's limited-pay whole life — capitalizations?
Horace Mann Educators (HMN) reported limited-pay whole life — capitalizations of $200K in Q2 2026.
How has Horace Mann Educators's limited-pay whole life — capitalizations changed year-over-year?
Horace Mann Educators's limited-pay whole life — capitalizations decreased by 0.0% year-over-year, from $200K to $200K.
What is the long-term trend for Horace Mann Educators's limited-pay whole life — capitalizations?
Over 4 years (2021 to 2025), Horace Mann Educators's limited-pay whole life — capitalizations has grown at a -17.3% compound annual growth rate (CAGR), from $1.5M to $700K.
What does limited-pay whole life — capitalizations mean?
Reflects the amount of incremental direct costs related to the acquisition of new insurance policies that are deferred rather than expensed immediately. This metric indicates the level of new business acquisition activity and the associated upfront investment required to secure long-term policyholder relationships. Higher capitalization levels typically signal aggressive growth strategies in the insurance segment.

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