Horace Mann Acquires Madison National Life Insurance Company

Horace Mann Educators Corporation has completed the acquisition of Madison National Life Insurance Company, a provider of group life, disability and specialty health insurance focused on educators and public sector employees. The deal was funded with cash on hand and additional borrowings on Horace Mann’s revolving credit facility; Horace Mann expects 2022 EPS accretion of $0.15–$0.20 and roughly a 50 basis point contribution to ROE.