**Horace Mann Educators Corporation Reports Increased Net Income for 2025**
Horace Mann Educators Corporation (HMEC) reported total revenues of $1.70 billion for the year ended December 31, 2025, an increase of 6.7% compared to $1.59 billion in 2024. Net premiums and contract charges earned rose by 7.2% to $1.23 billion, driven by sales growth and implemented rate adjustments in the Property & Casualty segment, as well as higher sales in Supplemental & Group Benefits. Net investment income also contributed to the revenue increase, reaching $464.3 million, a 4.2% increase from the previous year. However, this figure includes a $10.2 million reduction due to an immaterial out-of-period correction of an error.
The company's profitability saw significant improvement, with net income increasing by 57.7% to $162.1 million, or $3.90 per diluted share, compared to $102.8 million, or $2.48 per diluted share, in 2024. This increase was primarily attributed to improved underlying auto and property loss ratios within the Property & Casualty segment. Benefits, claims, and settlement expenses decreased by 4.5% to $711.5 million, while operating expenses increased by 14.8% to $396.6 million, reflecting investments in technology, marketing, and distribution.
Key operational developments included a voluntary Early Retirement Offering announced in December 2025 as part of workforce planning efforts. As of December 31, 2025, the company had approximately 1,800 employees. The Property & Casualty segment reported 326,040 auto risks and 163,711 property risks in force at year-end. The Life & Retirement segment had 213,137 annuity contracts in force, with total accumulated fixed and variable annuity cash value on deposit at $5.9 billion. The Supplemental & Group Benefits segment reported 275,183 supplemental policies in force and 874,556 group covered lives.
Looking ahead to 2026, Horace Mann anticipates full-year core income to be in the range of $4.20 to $4.50 per diluted share, with a core return on equity of 11% or higher. This outlook assumes a Property & Casualty combined ratio in the low-to-mid 90s with approximately $90 million in catastrophe losses, a Life & Retirement net interest spread between 220 and 230 basis points, and a Supplemental & Group Benefits benefit ratio of 39%. Net investment income is projected to be between $485 million and $495 million before tax.
About HORACE MANN EDUCATORS CORP /DE/
Horace Mann Educators Corporation is an insurance holding company serving primarily educators and public sector employees. It offers property and casualty, life, retirement, and group benefits products through its subsidiaries. Its core markets include school districts and individual educators, providing tailored insurance, retirement, and financial solutions. The company leverages school partnerships, specialized distribution channels, and a focus on financial wellness to support lifelong financial success.
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