What does SPIA (life contingent) — adjusted balance mean?

The adjusted balance represents the net carrying value of the liability for future policy benefits after accounting for all actuarial adjustments and assumption changes. It provides a comprehensive view of the total financial obligation the company holds for its life-contingent annuity policyholders.

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

Screener

Other product segments

Term Life

$259.8M-4.3%

Experience life

$62.4M-5.9%

Limited-Pay Whole Life

$35.9M-1.1%

Similar metrics at other companies

METWhole and Term Life & Endowments — Adjusted balance

1,534,600,000,000%+13,700,000,000pp

METFixed Annuity — Adjusted balance

1,159,200,000,000%+246,000,000,000pp

METAccident & health insurance — Adjusted balance

1,817,000,000,000%-45,000,000,000pp

METFixed & Immediate Annuities — Adjusted balance

8,146,800,000,000%+1,192,500,000,000pp

METLong-term Care — Adjusted balance

2,159,700,000,000%+54,700,000,000pp

JXNClosed Block Life — Balance adjusted for variances from expectation

$1.08B—

Other financials

Income statement

See full

Revenue$443.5M+7.7%

Net income$41.6M+41.5%

EPS (diluted)$1.01+42.3%

Balance sheet

See full

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

See full

Operating cash flow$223.7M+70.4%

Valuation

See full

Market cap$2.1B+21.9%

Enterprise value$2.65B+18.7%

P/E11.9×-0.5×

P/S1.2×+0.2×

Profitability

See full

Net margin10.2%+1.7pp

Returns & leverage

See full

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:LiabilityForFuturePolicyBenefitExpectedNetPremiumOriginalDiscountRateBeforeReinsuranceAfterCashFlowChange.

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)
Effect of:
Change in cash flow assumptions	—	—	—	—	—	—
Actual variances from expected experience	(0.4)	(0.1)	(0.8)	—	1.4	—
Adjusted balance at April 1, 2026	252.0	259.8	62.4	35.9	217.1	—
Issuances(3)	2.8	5.5	—	0.5	4.7	—
Interest accruals(4)	2.1	2.8	0.9	0.3	1.8	—
Net premiums collected(5)	(6.2)	(6.8)	(1.7)	(1.2)	(6.9)	—
June 30, 2026 balance at original discount rate	250.8	261.3	61.6	35.6	216.6	—

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 $0 in Q1 2026.
What does SPIA (life contingent) — adjusted balance mean?: The adjusted balance represents the net carrying value of the liability for future policy benefits after accounting for all actuarial adjustments and assumption changes. It provides a comprehensive view of the total financial obligation the company holds for its life-contingent annuity policyholders.