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Horace Mann Educators HMN Limited-Pay Whole Life — Adjusted balance

Other product segments

Experience life
$755.9M-3.3%
Term Life
$432.5M-1.2%
SPIA (life contingent)
$101.6M-4.3%

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VOYABusinesses Exited — Adjusted balance at January 1
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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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METWhole and Term Life & Endowments — Adjusted balance
1,534,600,000,000%+13,700,000,000pp
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SNFCATraditional And Limited Payment Life — Liability For Future Policy Benefit Expected Future Benefit Original Discount Rate Before Reinsurance After Cash Flow Change
$865.09M+1.0%

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$2.1B+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 limited-pay whole life — adjusted balance?
Horace Mann Educators (HMN) reported limited-pay whole life — adjusted balance of $118.6M in Q1 2026.
How has Horace Mann Educators's limited-pay whole life — adjusted balance changed year-over-year?
Horace Mann Educators's limited-pay whole life — adjusted balance increased by 2.8% year-over-year, from $115.4M to $118.6M.
What does limited-pay whole life — adjusted balance mean?
This metric reflects the net carrying value of the limited pay whole life insurance block after accounting for policy reserves, deferred acquisition costs, and other balance sheet adjustments. It provides a standardized view of the capital committed to this specific product line. Investors use this to assess the scale of the insurance liability and the associated capital requirements for the segment.

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