Mergers & Acquisitions ·
On July 21, 2026, Horace Mann Educators Corporation entered into agreements with Medical Mutual of Ohio (MMO) and…
HMNHorace Mann Educators Corp
On July 21, 2026, Horace Mann Educators Corporation entered into agreements with Medical Mutual of Ohio (MMO) and Medical Mutual Life Insurance Company (MML) to acquire Reserve National Insurance Company (RNIC) for approximately $125 million and reinsure substantially all of MML's in-force insurance policies for a ceding commission of approximately $7.4 million. Additionally, the company will acquire Employee Services, LLC (ESI). The total net purchase price for these transactions is approximately $240 million, funded via cash on hand and existing credit facility borrowings. The ESI transaction is expected to close in Q4 2026, while the RNIC and reinsurance transactions are expected to close in Q1 2027. These acquisitions are expected to add nearly $200 million in annual revenue. Horace Mann is a multiline financial services company providing insurance and financial solutions to educators.