| --- | --- | --- | |-----------------------|-------|-------| | | | | | | | | | | | | | Full-year 2021 | | | | | | | | Investor Presentation | | | Information as December 31, 2021, unless otherwise noted Safe Harbor Statement and Non-GAAP Measures Certain statements made in this presentation should be considered forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements are related to our in ...

PART I [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents the company's financial position, operating results, and cash flows, highlighting asset growth and increased nine-month net income [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) This section details the company's financial position, showing an increase in total assets and liabilities, with stable shareholders' equity Consolidated Balance Sheet Highlights ($ in millions) | Account | Sep 30, 2021 (Unaudited) | Dec 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$14,265.0** | **$13,471.8** | | Total Investments | $7,531.3 | $7,262.2 | | Separate Account Assets | $3,326.8 | $2,891.4 | | **Total Liabilities** | **$12,468.6** | **$11,681.7** | | Total Policy Liabilities | $7,270.5 | $7,148.6 | | Separate Account Liabilities | $3,326.8 | $2,891.4 | | **Total Shareholders' Equity** | **$1,796.4** | **$1,790.1** | [Consolidated Statements of Operations and Comprehensive (Loss) Income](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20%28Loss%29%20Income) Net income decreased in Q3 2021 but increased for the nine months ended September 30, 2021, primarily due to higher net investment income Key Operating Results ($ in millions, except per share data) | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenues | $329.6 | $337.1 | $998.7 | $958.1 | | Net Investment Income | $103.7 | $93.7 | $308.4 | $256.4 | | **Net Income** | **$16.3** | **$36.5** | **$102.3** | **$85.5** | | Diluted EPS | $0.39 | $0.87 | $2.43 | $2.03 | | Comprehensive (Loss) Income | $(9.0) | $85.6 | $42.9 | $183.3 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities decreased for the nine months ended September 30, 2021, while investing activities used cash and financing activities provided cash Consolidated Cash Flows for Nine Months Ended Sep 30 ($ in millions) | Activity | 2021 | 2020 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $178.1 | $267.8 | | Net Cash used in Investing Activities | $(351.0) | $(368.8) | | Net Cash from Financing Activities | $190.8 | $141.0 | | **Net Increase in Cash** | **$17.9** | **$40.0** | | Cash at End of Period | $40.2 | $65.5 | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section details accounting policies, the pending Madison National Life acquisition, investment portfolio composition, fair value measurements, and segment performance - The company entered into an agreement to acquire Madison National Life Insurance Company for **$172.5 million**, with a potential earn-out of up to **$12.5 million** The acquisition is expected to close in the **first quarter of 2022**[32](index=32&type=chunk) Investment Portfolio Composition as of Sep 30, 2021 ($ in millions) | Security Type | Amortized Cost, net | Fair Value | | :--- | :--- | :--- | | U.S. Government & Agency | $1,021.9 | $1,102.4 | | Municipal bonds | $1,592.5 | $1,775.5 | | Corporate bonds | $2,268.8 | $2,451.6 | | Other asset-backed securities | $1,122.2 | $1,138.5 | | **Total Fixed Maturity** | **$6,045.6** | **$6,512.0** | Net Income by Segment - Nine Months Ended Sep 30 ($ in millions) | Segment | 2021 | 2020 | | :--- | :--- | :--- | | Property and Casualty | $42.5 | $53.7 | | Supplemental | $34.8 | $30.6 | | Retirement | $36.2 | $16.6 | | Life | $10.8 | $6.8 | | Corporate and Other | $(22.0) | $(22.2) | | **Total** | **$102.3** | **$85.5** | [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses financial performance, including Q3 net income decrease, nine-month net income increase, the Madison National Life acquisition, COVID-19 impacts, and the 2021 outlook [Introduction and COVID-19 Considerations](index=27&type=section&id=Introduction%20and%20COVID-19%20Considerations) This section introduces the Madison National Life acquisition and discusses the company's operational adjustments and sales impacts due to the COVID-19 pandemic - Entered into a definitive agreement to acquire Madison National Life Insurance Company for **$172.5 million**, a leading writer of employer-paid benefits for K-12 school districts The transaction is expected to be immediately accretive to **EPS** and **ROE**[90](index=90&type=chunk)[91](index=91&type=chunk) - The company has implemented a hybrid work model in response to the COVID-19 pandemic and is using virtual tools to reach customers due to limited in-person access to schools[93](index=93&type=chunk)[95](index=95&type=chunk) [Consolidated Financial Highlights and Results of Operations](index=29&type=section&id=Consolidated%20Financial%20Highlights%20and%20Results%20of%20Operations) Q3 2021 net income decreased due to investment losses and rising auto costs, while nine-month net income increased, driven by higher net investment income Consolidated Financial Highlights | Metric | Q3 2021 | Q3 2020 | Nine Months 2021 | Nine Months 2020 | | :--- | :--- | :--- | :--- | :--- | | Total Revenues ($M) | $329.6 | $337.1 | $998.7 | $958.1 | | Net Income ($M) | $16.3 | $36.5 | $102.3 | $85.5 | | Diluted EPS | $0.39 | $0.87 | $2.43 | $2.03 | - The nine-month increase in net income was primarily due to a **$49.0 million** increase in net investment income, largely from favorable returns on limited partnership interests[101](index=101&type=chunk) - Benefits, claims, and settlement expenses increased for both the three and nine-month periods, driven by higher automobile loss experience, catastrophe losses, and Life benefits[104](index=104&type=chunk) [Outlook for 2021](index=31&type=section&id=Outlook%20for%202021) The company projects full-year 2021 net income between **$3.27** and **$3.42** per diluted share, reflecting higher catastrophe losses and auto loss ratios, partially offset by strong investment income - Full-year 2021 net income is estimated to be between **$3.27** and **$3.42** per diluted share, with Q4 core earnings projected at **$0.65** to **$0.80** per share[116](index=116&type=chunk) - The Property and Casualty segment's outlook was lowered due to rising automobile loss costs, with the underlying auto loss ratio expected to rise again in Q4[118](index=118&type=chunk)[119](index=119&type=chunk) - Full-year total net investment income is anticipated to be in the range of **$405 million** to **$410 million**[117](index=117&type=chunk) [Results of Operations by Segment](index=33&type=section&id=Results%20of%20Operations%20by%20Segment) This section details segment performance, noting a Q3 net loss in Property and Casualty, and net income growth in Supplemental, Retirement, and Life segments Property and Casualty Net Income (Loss) ($ in millions) | Period | 2021 | 2020 | | :--- | :--- | :--- | | Three Months | $(4.7) | $15.8 | | Nine Months | $42.5 | $53.7 | Supplemental Net Income ($ in millions) | Period | 2021 | 2020 | | :--- | :--- | :--- | | Three Months | $11.4 | $10.6 | | Nine Months | $34.8 | $30.6 | Retirement & Life Net Income ($ in millions) | Segment | Period | 2021 | 2020 | | :--- | :--- | :--- | :--- | | **Retirement** | Nine Months | $36.2 | $16.6 | | **Life** | Nine Months | $10.8 | $6.8 | [Investment Results](index=42&type=section&id=Investment%20Results) Net investment income increased **20.3%** for the nine months ended September 30, 2021, driven by limited partnership returns, with the **$6.7 billion** portfolio remaining investment grade - Net investment income from the investment portfolio (excluding the deposit asset on reinsurance) increased **26.6%** to **$233.3 million** for the nine months ended Sep 30, 2021, mainly due to strong returns on limited partnership interests[156](index=156&type=chunk) - The fixed maturity and equity securities portfolio totaled **$6.7 billion** in fair value as of September 30, 2021, with **85.9%** rated investment grade and an average quality rating of **A+**[162](index=162&type=chunk) [Liquidity and Capital Resources](index=45&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains sufficient liquidity, with total capital at **$2.185 billion** and debt-to-total capital at **17.8%**, below its **25%** target, supported by an increased credit facility - Total debt was **$388.6 million** at September 30, 2021, representing **17.8%** of total capital, which is below the company's long-term target of **25%**[182](index=182&type=chunk) - The company's bank credit facility was amended to increase the available amount from **$225.0 million** to **$325.0 million**, partly to fund the Madison National acquisition[188](index=188&type=chunk) - During the nine months ended September 30, 2021, the company paid **$38.6 million** in shareholder dividends and repurchased **44,685 shares** of common stock for **$1.7 million**[184](index=184&type=chunk)[185](index=185&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=51&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is market value risk, managed by coordinating asset and liability durations, with interest rate changes posing a risk to earnings - The primary market risk is market value risk, stemming from potential decreases in the value of invested assets due to changes in yields, liquidity, or issuer financial health[198](index=198&type=chunk) - The company manages risk by matching the projected cash flows of assets and liabilities and maintaining reasonable durations to maximize income without sacrificing quality[201](index=201&type=chunk) [Controls and Procedures](index=52&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of September 30, 2021, with no material weaknesses or significant changes in internal control - Based on an evaluation as of September 30, 2021, the CEO and CFO concluded that the company's disclosure controls and procedures are effective[203](index=203&type=chunk) - No material changes were made to the internal control over financial reporting during the third quarter of 2021[204](index=204&type=chunk) PART II - OTHER INFORMATION [Risk Factors](index=53&type=section&id=Item%201A.%20Risk%20Factors) There are no material changes to the risk factors previously disclosed in the Annual Report on Form 10-K for the year ended December 31, 2020 - There are no material changes from the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2020[207](index=207&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=53&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q3 2021, the company repurchased **5,000** shares of common stock at **$36.88** per share, with **$18.9 million** remaining for future repurchases Issuer Purchases of Equity Securities (Q3 2021) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | July 1 - 31 | 5,000 | $36.88 | | August 1 - 31 | — | — | | September 1 - 30 | — | — | | **Total** | **5,000** | **$36.88** | - As of the end of the quarter, **$18.9 million** remained authorized for future share repurchases under the existing program[208](index=208&type=chunk) [Other Information](index=53&type=section&id=Item%205.%20Other%20Information) This item is not applicable for the reporting period - Not applicable[209](index=209&type=chunk) [Exhibits](index=53&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including governance documents, material contracts, and required CEO/CFO certifications - A list of exhibits filed with the report is provided, including governance documents, material contracts, and required CEO/CFO certifications[210](index=210&type=chunk)

Horace Mann Educators Corporation (NYSE:HMN) Q3 2021 Results Conference Call November 4, 2021 11:00 AM ET Company Participants Heather Wietzel - Vice President of Investor Relations Marita Zuraitis - President and Chief Executive Officer Bret Conklin - Executive Vice President and Chief Financial Officer Mark Desrochers - SVP, Head of P&C and Corporate Chief Actuary Conference Call Participants Meyer Shields - KBW Matt Carletti - JMP John Barnidge - Piper Sandler Gary Ransom - Dolling & Partners Greg Peters ...

| --- | --- | |-----------------------|-------| | | | | | | | | | | | | | Third Quarter 2021 | | | | | | Investor Presentation | | | | | | | | | November 3, 2021 | | | | | | | | | | | | | | Information as September 30, 2021, unless otherwise noted Safe Harbor Statement and Non-GAAP Measures Certain statements made in this presentation should be considered forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future ev ...

Horace Mann Educators Corporation (NYSE:HMN) Q2 2021 Results Conference Call August 3, 2021 8:00 AM ET Company Participants Heather Wietzel - Vice President of Investor Relations Marita Zuraitis - President and Chief Executive Officer Bret Conklin - Executive Vice President and Chief Financial Officer Matt Sharpe - EVP, Distribution and Business Strategy Mark Desrochers - SVP, Head of P&C and Corporate Chief Actuary Tyson Sanders - VP, Supplemental Mike Weckenbrock - SVP, Life and Retirement Ryan Greenier - ...

PART I - FINANCIAL INFORMATION [Consolidated Financial Statements](index=3&type=section&id=Item%201.%20Consolidated%20Financial%20Statements) This section presents Horace Mann Educators Corporation's unaudited consolidated financial statements, showing total assets of $14.19 billion and net income of $86.0 million for the first half of 2021 [Consolidated Balance Sheets](index=4&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2021, total assets increased to $14.19 billion, liabilities to $12.37 billion, and shareholders' equity to $1.82 billion Consolidated Balance Sheet Highlights (in millions) | Account | June 30, 2021 | December 31, 2020 | | :--- | :--- | :--- | | **Total Assets** | **$14,190.1** | **$13,471.8** | | Total Investments | $7,587.5 | $7,262.2 | | Separate Account Assets | $3,256.7 | $2,891.4 | | **Total Liabilities** | **$12,373.5** | **$11,681.7** | | Total Policy Liabilities | $7,211.7 | $7,148.6 | | Separate Account Liabilities | $3,256.7 | $2,891.4 | | **Total Shareholders' Equity** | **$1,816.6** | **$1,790.1** | [Consolidated Statements of Operations and Comprehensive Income (Loss)](index=5&type=section&id=Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) For the six months ended June 30, 2021, total revenues increased to $669.1 million, net income rose to $86.0 million, but comprehensive income decreased to $51.9 million Statement of Operations Highlights (in millions, except per share data) | Metric | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Total Revenues | $669.1 | $622.2 | | Net Investment Income | $204.7 | $162.7 | | Income Before Income Taxes | $106.3 | $55.9 | | **Net Income** | **$86.0** | **$49.0** | | **Diluted EPS** | **$2.04** | **$1.17** | | Comprehensive Income (Loss) | $51.9 | $97.7 | [Consolidated Statements of Changes in Shareholders' Equity](index=6&type=section&id=Consolidated%20Statements%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity increased to $1.82 billion by Q2 2021, driven by $86.0 million in net income, partially offset by dividends and a decrease in other comprehensive income - For the six months ended June 30, 2021, retained earnings increased by **$59.8 million**, reflecting **$86.0 million** in net income less **$26.2 million** in dividends paid[17](index=17&type=chunk) - Accumulated other comprehensive income decreased by **$34.1 million** in the first six months of 2021, primarily due to changes in net unrealized investment gains on fixed maturity securities[17](index=17&type=chunk) [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the six months ended June 30, 2021, net cash from operations was $116.6 million, investing activities used $343.1 million, and financing activities provided $233.6 million, resulting in a $7.1 million net cash increase Consolidated Cash Flow Summary (in millions) | Cash Flow Activity | Six Months Ended June 30, 2021 | Six Months Ended June 30, 2020 | | :--- | :--- | :--- | | Net Cash from Operating Activities | $116.6 | $165.6 | | Net Cash used in Investing Activities | ($343.1) | ($195.0) | | Net Cash from Financing Activities | $233.6 | $86.3 | | **Net Increase in Cash** | **$7.1** | **$56.9** | [Notes to Consolidated Financial Statements](index=8&type=section&id=Notes%20to%20Consolidated%20Financial%20Statements) This section provides detailed disclosures supporting the consolidated financial statements, covering basis of presentation, a planned acquisition, investment portfolio, and segment performance - On July 14, 2021, the Company agreed to acquire Madison National Life Insurance Company, Inc. for **$172.5 million**, with a potential earn-out of up to **$12.5 million**, expected to close in the first quarter of 2022[31](index=31&type=chunk) - To help fund the acquisition of Madison National, the Company amended its credit facility on July 12, 2021, increasing the available line of credit from **$225.0 million** to **$325.0 million**[32](index=32&type=chunk)[33](index=33&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A)](index=27&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial condition and results of operations, highlighting a 75.5% increase in six-month net income to $86.0 million, the planned acquisition of Madison National, and raised full-year 2021 EPS guidance - The company entered a definitive agreement to acquire Madison National Life Insurance Company for **$172.5 million**, a move expected to be immediately accretive to EPS and ROE and strengthen product offerings and distribution[92](index=92&type=chunk)[93](index=93&type=chunk) Consolidated Financial Highlights (YTD June 30) | Metric | 2021 | 2020 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $669.1M | $622.2M | 7.5% | | Net Income | $86.0M | $49.0M | 75.5% | | Diluted EPS | $2.04 | $1.17 | 74.4% | - Full-year 2021 net income guidance was increased to a range of **$3.50 to $3.70 per diluted share**, reflecting strong Q2 net investment income and lower-than-expected catastrophe losses[118](index=118&type=chunk) [Results of Operations by Segment](index=33&type=section&id=Results%20of%20Operations%20by%20Segment) This section details the performance of the company's segments, showing increased net income across Property and Casualty, Supplemental, Retirement, and Life segments, while the Corporate and Other segment reduced its net loss Net Income (Loss) by Segment - Six Months Ended June 30 (in millions) | Segment | 2021 | 2020 | | :--- | :--- | :--- | | Property and Casualty | $47.2 | $37.9 | | Supplemental | $23.4 | $20.0 | | Retirement | $22.1 | $8.8 | | Life | $5.7 | $2.5 | | Corporate and Other | ($12.4) | ($20.2) | | **Total** | **$86.0** | **$49.0** | [Investment Results](index=43&type=section&id=Investment%20Results) Total net investment income increased 25.8% to $204.7 million for the first half of 2021, with the fixed maturity securities portfolio valued at $6.6 billion and largely investment grade - For the six months ended June 30, 2021, net investment income from the investment portfolio increased by **$40.1 million** (**34.8%**) year-over-year, primarily due to more favorable returns on limited partnership interests[160](index=160&type=chunk) - As of June 30, 2021, the fixed maturity securities portfolio had a fair value of **$6.56 billion**, with an average credit quality of **A+** and **87.8%** of the portfolio rated investment grade[165](index=165&type=chunk) [Liquidity and Capital Resources](index=46&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity and capital, with $116.6 million in net cash from operations, total capital of $2.23 billion, and a debt-to-total capital ratio of 18.5%, while increasing its credit facility to $325.0 million - Total debt as a percentage of total capital was **18.5%** at June 30, 2021, which is below the company's long-term target of **25%**[186](index=186&type=chunk) - The company paid **$25.7 million** in dividends in the first six months of 2021 and repurchased **39,685 shares**; **$19.1 million** remained available under the share repurchase program as of June 30, 2021[188](index=188&type=chunk)[189](index=189&type=chunk) - The company's insurance subsidiaries can pay up to **$161.9 million** in dividends in 2021 without prior regulatory approval, of which **$24.0 million** was paid in the first half of the year[185](index=185&type=chunk) - Following the announcement of the planned acquisition of Madison National, rating agencies AM Best, Fitch, and Moody's affirmed the company's ratings with a stable outlook[200](index=200&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=52&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company's primary market risk is market value risk, the potential for invested assets to decrease in value, and interest rate risk, both managed by coordinating asset and liability durations and maintaining a diversified portfolio - The company's primary market risk is market value risk, the potential for invested assets to decrease in value[203](index=203&type=chunk) - Significant changes in interest rates expose the company to the risk of reduced income due to the spread between investment earnings and credited rates on liabilities[205](index=205&type=chunk) - Market risk is managed by aligning the projected cash flows of assets and liabilities, maintaining reasonable durations, and focusing on investment quality, liquidity, and diversification[206](index=206&type=chunk) [Controls and Procedures](index=53&type=section&id=Item%204.%20Controls%20and%20Procedures) As of June 30, 2021, management concluded that the company's disclosure controls and procedures are effective, with no material weaknesses or significant changes in internal control over financial reporting - As of June 30, 2021, the CEO and CFO concluded that the company's disclosure controls and procedures are effective[208](index=208&type=chunk) - There were no changes during the quarter that materially affected, or are reasonably likely to materially affect, the company's internal control over financial reporting[209](index=209&type=chunk) PART II - OTHER INFORMATION [Risk Factors](index=54&type=section&id=Item%201A.%20Risk%20Factors) There are no material changes from the risk factors previously disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2020 - There are no material changes from the risk factors disclosed in the Annual Report on Form 10-K for the year ended December 31, 2020[212](index=212&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=54&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) This section details the company's common stock repurchases, with 200 shares bought back at an average price of $37.01 during Q2 2021, and $19.1 million remaining authorized for future repurchases Issuer Purchases of Equity Securities (Q2 2021) | Period | Total Shares Purchased | Average Price Paid per Share | | :--- | :--- | :--- | | April 1 - 30 | 0 | N/A | | May 1 - 31 | 0 | N/A | | June 1 - 30 | 200 | $37.01 | | **Total** | **200** | **$37.01** | - As of June 30, 2021, approximately **$19.1 million** remained authorized for future share repurchases under the company's program[213](index=213&type=chunk) [Exhibits](index=54&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including corporate documents, material contracts, and CEO/CFO certifications

Financial Performance & Guidance - Horace Mann's Q2 2021 core earnings per share reached a record of $1.02, contributing to a 52% increase in net income per share to $1.11[42] - The company raised its 2021 core EPS guidance to $3.50-$3.70 and expects a core ROE exceeding 10%[26] - Net investment income is projected to be in the range of $385 million to $405 million for the full year[26] Strategic Initiatives & Acquisitions - Horace Mann is set to acquire Madison National Life in early 2022 for $172.5 million, funded through cash and borrowing, which is expected to be immediately accretive to ROE and EPS[13] - The acquisition of Madison National Life is expected to add 50 basis points to ROE in 2022[25] - The company has repurchased $81 million in shares since the initial authorization in 2011[31] Segment Performance - P&C segment's net written premium was $636 million in 2020, with auto comprising 66% and property 34%[43] - The P&C segment's combined ratio for the first half of 2021 was 92.7%, benefiting from lower catastrophe losses[46] - Retirement segment saw a 15.6% increase in net annuity contract deposits in Q2 2021[57] Investment Portfolio - The company's investment portfolio has a fair value of $7.4 billion, with 66% rated A or higher and less than 5% below investment grade[65] - The alternative investment portfolio is valued at $586 million and generated an average return of 6.5% since 2012, with a YTD annualized return of 14.97%[68, 69] Market & Customer Focus - Horace Mann focuses on the K-12 educator market, which includes 6.5 million educators nationwide, with a current customer base of roughly 470,000 educator households[34]

Q1 2021 Investor Presentation May 5, 2021 Information as of March 31, 2021, unless otherwise noted Safe Harbor Statement and Non-GAAP Measures Certain statements made in this presentation should be considered forward-looking as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements give expectations or forecasts of future events. These statements are related to our intentions, beliefs, projections, estimations or forecasts of future events or our future financial perform ...

Horace Mann Educators Corporation (NYSE:HMN) Q1 2021 Earnings Conference Call May 5, 2021 9:00 AM ET Company Participants Heather Wietzel - Vice President of Investor Relations Marita Zuraitis - President and Chief Executive Officer Bret Conklin - Executive Vice President and Chief Financial Officer Matt Sharpe - EVP, Distribution and Business Strategy Mark Desrochers - SVP, Head of P&C and Corporate Chief Actuary Tyson Sanders - VP, Supplemental Mike Weckenbrock - SVP, Life and Retirement Ryan Greenier - C ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission file number 1-10890 HORACE MANN EDUCATORS CORPORATION (Exact name of registrant as specified in its charter) Delaware 37-0911756 (State o ...