---
schema_version: "secwatch.filing_event.v1"
accession: "0001628280-21-013804"
form_type: "8-K"
ticker: "HMN"
cik: "0000850141"
company_name: "HORACE MANN EDUCATORS CORP /DE/"
filed_at: "2021-07-14T23:59:59+00:00"
generated_at: "2026-06-30T05:34:29.822997+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Horace Mann acquires Madison National Life for $172.5M to expand educator benefits

## Summary
- Purchase price $172.5M; potential earnout up to $12.5M if 2023 targets met.
- Expected to close early Q1 2022, subject to regulatory approvals.
- Expects mid-single-digit EPS accretion and ~50 bps ROE contribution post-close.
- Madison National had ~$108M net premiums and ~$14M statutory earnings in 2020.
- Credit facility expanded to $325M to fund acquisition; leverage expected below 25%.

## SEC filing metadata
- accession: 0001628280-21-013804
- form_type: 8-K
- ticker: HMN
- cik: 0000850141
- company_name: HORACE MANN EDUCATORS CORP /DE/
- filed_at: 2021-07-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/850141/000162828021013804/0001628280-21-013804-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/850141/000162828021013804/hmn-20210714.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001628280-21-013804
- JSON: https://secwatch.observer/filing/0001628280-21-013804.json
- Plain text: https://secwatch.observer/filing/0001628280-21-013804.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.