Horace Mann Educators (HMN) Limited-Pay Whole Life — Changes in cash flow assumptions

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Other product segments

Experience life

$0—

SPIA (life contingent)

$0—

Term Life

$0—

Similar metrics at other companies

AGOAnnuity Reinsurance — Effect of changes in cash flow assumptions

-$1M—

VOYABusinesses Exited — Effect of change in cash flow assumptions

$0—

VOYAEmployee Benefits Group — Effect of change in cash flow assumptions

$0—

VOYAEmployee Benefits Voluntary — Effect of change in cash flow assumptions

$0—

KMPRTerm Life Insurance — Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change

$0—

UNMColonial Life — Liability for Future Policy Benefit, Expected Future Policy Benefit, Cumulative Increase (Decrease) from Cash Flow Change

$0—

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:LiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitCumulativeIncreaseDecreaseFromCashFlowChange.

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 Life	Term Life	Experience Life(1)	Limited-Pay Whole Life	Supplemental Health(2)	SPIA (life contingent)
Balance at April 1, 2026	496.8	386.0	786.0	88.1	375.0	93.4
April 1, 2026 balance at original discount rate	615.8	432.5	757.1	118.5	463.9	101.7
Effect of:
Changes in cash flow assumptions	—	—	—	—	—	—
Actual variances from expected experience	(0.5)	—	(1.2)	0.1	1.3	(0.1)
Adjusted balance at April 1, 2026	615.3	432.5	755.9	118.6	465.2	101.6
Issuances	2.8	5.6	—	0.5	4.7	—
Interest accruals	5.4	4.5	11.1	1.1	3.5	1.0

Item 1. Consolidated Financial Statements

FAQ

What is Horace Mann Educators's limited-pay whole life — changes in cash flow assumptions?: Horace Mann Educators (HMN) reported limited-pay whole life — changes in cash flow assumptions of $0 in Q1 2026.
What does limited-pay whole life — changes in cash flow assumptions mean?: Reflects the financial impact of updates to actuarial assumptions regarding future cash flows, such as mortality, morbidity, or lapse rates, for the limited-pay whole life product line. Changes in these assumptions directly adjust the liability for future policy benefits, indicating shifts in the expected profitability or risk profile of the block of business. Monitoring this helps investors understand the sensitivity of the company's long-term obligations to evolving experience.