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Horace Mann Educators HMN Term Life — Capitalizations

Other product segments

Limited-Pay Whole Life
$200K0.0%
Experience life
$0-100%

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$8.93M+2.3%
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$93.88M-4.8%

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 term life — capitalizations?
Horace Mann Educators (HMN) reported term life — capitalizations of $900K in Q2 2026.
How has Horace Mann Educators's term life — capitalizations changed year-over-year?
Horace Mann Educators's term life — capitalizations decreased by 10.0% year-over-year, from $1M to $900K.
What is the long-term trend for Horace Mann Educators's term life — capitalizations?
Over 4 years (2021 to 2025), Horace Mann Educators's term life — capitalizations has grown at a 1.7% compound annual growth rate (CAGR), from $4.2M to $4.5M.
What does term life — capitalizations mean?
Refers to the amount of acquisition-related costs deferred on the balance sheet during the reporting period rather than being expensed immediately. This reflects the company's strategy for managing the timing of expense recognition for new business production. Higher levels indicate significant investment in acquiring new policyholders.

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