Horace Mann(US:HMN)2025-05-13 14:41Financial Performance & Goals - Horace Mann achieved a core earnings per share of $3.40 and a core return on equity of 9.4% in 2024 [34] - The company is on track to deliver record full-year core earnings in 2025, with Q1 core earnings per share at $1.07 and a core return on equity of 10.6% [36] - Horace Mann aims for a 10%+ core ROE in 2025 and a 12%-13% core ROE as a 3-year goal [149, 162] - The company anticipates strong free cash flow generation of +75% [149] - Horace Mann projects core earnings per share guidance of $3.85 to $4.15 [149] Market Position & Strategy - Horace Mann is the largest multiline financial services company focused on America's educators [9, 14] - The company has $14.4 billion in assets and $1.6 billion in net premium and contract deposits for 2024 [13] - Horace Mann currently serves almost half of K-12 school locations in the United States [13] - The company estimates it should capture ~2-4% of HHs, with HM's annual share of P&C switchers between 45,000 – 90,000 [62] Growth Initiatives - Horace Mann aims to improve penetration of educator households they currently access, gain access to educator households where they have no local agent footprint, and explore adjacent markets [31, 96] - The company plans to leverage a company-led entry model (B2B2C) to accelerate growth in new territories [64, 122] - Horace Mann intends to double the number of local agents to better meet client needs [103]