Horace Mann to acquire ESI and RNIC, reinsure MedMutual Life, for ~$240M

HORACE MANN EDUCATORS CORP /DE/

Total net purchase price ~$240M; financed with excess capital and existing credit facility.
Adds ~$200M annual revenue, >1M covered lives, ~7,000 employer relationships, >1,000 agents.
ESI acquisition expected to close Q4 2026; RNIC and reinsurance close Q1 2027, subject to regulatory approvals.
Transactions expected to be immediately accretive to core EPS and ROE.
RNIC stock purchase ~$125M; ceding commission ~$7.4M for MedMutual Life reinsurance.

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