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HMN on NYSE

HORACE MANN EDUCATORS CORP /DE/

HORACE MANN EDUCATORS CORP /DE/ is an American fire company, incorporated in Delaware, listed on NYSE (HMN).1 It is headquartered in Springfield, Illinois.1

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Last updated Oct 21, 2026.

Overview

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  • TickerHMN on NYSE1
  • IndustryFire, Marine & Casualty Insurance1
  • HeadquartersSpringfield, Illinois1
  • Incorporated inDE2
  • Business address1 Horace Mann Plz, Springfield, Il 62715-00012
  • Filer categoryLarge accelerated filer2

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Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

9.5%Net margin4
6.7%Revenue growth, 20254
10.9%Return on equity4
0.40×Debt to equity4

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Other costs86¢$1.5B
  • Interest2¢$36.4M
  • Income tax2¢$39.1M
  • Profit10¢$162.1M

Out of $1.7B in revenue.4

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid10¢$57.1M
  • Kept or used elsewhere90¢$496.1M

Out of $553.2M of cash from operations.4

Financial statements

Revenue56784$1.7B in 2025+19% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $1.4B$1.4B20192020: $1.3B$1.3B2020−8%2021: $1.3B$1.3B2021+1%2022: $1.4B$1.4B2022+4%2023: $1.5B$1.5B2023+8%2024: $1.6B$1.6B2024+7%2025: $1.7B$1.7B2025+7%
Net income56784$162.1M in 2025−12% since 2019
0$50.0M$100.0M$150.0M$200.0M2019: $184.4M$184.4M20192020: $133.3M$133.3M2020−28%2021: $170.4M$170.4M2021+28%2022: $19.8M$19.8M2022−88%2023: $45.0M$45.0M2023+127%2024: $102.8M$102.8M2024+128%2025: $162.1M$162.1M2025+58%

Every line of the income statement as filed: the last 3 fiscal years, latest first.4

Period ending2025-12-312024-12-312023-12-31
Net premiums and contract charges earned$1.2B$1.1B$1.1B
Net investment income$464.3M$445.7M$444.8M
Net investment (losses)-$13.0M-$17.3M-$24.0M
Other income$21.7M$20.8M$14.0M
Total revenues$1.7B$1.6B$1.5B
Benefits, claims and settlement expenses (Reserve remeasurement (gains)/losses $6.0, $1.6, $(1.6))$711.5M$745.0M$769.1M
Interest credited$216.9M$215.9M$205.7M
Operating expenses$396.6M$345.5M$318.1M
DAC amortization expense$124.5M$111.1M$101.2M
Intangible asset amortization expense$14.3M$14.5M$14.8M
Interest expense$36.4M$34.6M$29.7M
Total benefits, losses and expenses$1.5B$1.5B$1.4B
Income before income taxes$201.2M$128.6M$53.3M
Income tax expense$39.1M$25.8M$8.3M
Net income$162.1M$102.8M$45.0M
Basic (in usd per share)$3.93$2.49$1.09
Diluted (in usd per share)$3.90$2.48$1.09
Basic (in shares)41.2M shares41.3M shares41.3M shares
Diluted (in shares)41.6M shares41.5M shares41.4M shares
Change in net unrealized investment gains (losses) on fixed maturity securities$111.9M-$29.1M$121.3M
Change in net reserve remeasurements attributable to discount rates-$17.5M$89.0M-$37.1M
Change in net funded status of benefit plans$4.5M$600.0K$1.2M
Other comprehensive income$98.9M$60.5M$85.4M
Comprehensive income$261.0M$163.3M$130.4M
Remeasurement gains (losses)$6.0M$1.6M-$1.6M

Compare HORACE MANN EDUCATORS CORP /DE/ with another company

Corporate structure

HORACE MANN EDUCATORS CORP /DE/ sits at the top of its group. 18 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of HORACE MANN EDUCATORS CORP /DE/

  • HORACE MANN EDUCATORS CORP /DE/ Springfield, Illinois
    • ABM Service Corporation Subsidiary · Delaware, United States
    • BCG Securities, Inc. Subsidiary · Pennsylvania, United States
    • Benefit Consultants Group, Inc. Subsidiary · Pennsylvania, United States
    • Educators Life Insurance Company of America Subsidiary · Illinois, United States
    • HMN Properties, LLC Subsidiary · Illinois, United States
    • Horace Mann Employer Services Corporation Subsidiary · Delaware, United States
    • Horace Mann General Agency Corporation Subsidiary · Delaware, United States
    • Horace Mann Insurance Company Subsidiary · Illinois, United States
    • Horace Mann Investors, Inc. Subsidiary · Maryland, United States
    • Horace Mann Life Insurance Company Subsidiary · Illinois, United States
    • Horace Mann Property & Casualty Insurance Company Subsidiary · Illinois, United States
    • Horace Mann Service Corporation Subsidiary · Illinois, United States
    • Madison National Life Insurance Company, Inc. Subsidiary · Wisconsin, United States
    • National Teachers Associates Life Insurance Company Subsidiary · Texas, United States
    • NTA Life Insurance Company of New York Subsidiary · New York, United States
    • Teachers Insurance Company Subsidiary · Illinois, United States
    • The Abacus Group, LLC Subsidiary · Georgia, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What HORACE MANN EDUCATORS CORP /DE/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$147.7M4 Dec 31, 2025$143.1M4 Dec 31, 2024+3.2%
Accumulated depreciation$76.9M4 Dec 31, 2025$69.7M4 Dec 31, 2024+10.3%
Property and equipment, net$70.8M4 Dec 31, 2025$73.4M4 Dec 31, 2024−3.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$27.5M4 Dec 31, 2025$38.1M4 Dec 31, 2024−27.8%
Equity securities at fair value$41.9M4 Dec 31, 2025$66.5M4 Dec 31, 2024−37.0%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$54.3M4 Dec 31, 2025$54.3M4 Dec 31, 20240%
Intangible assets, net (excluding goodwill)$141.5M4 Dec 31, 2025$155.8M4 Dec 31, 2024−9.2%
Indefinite-lived intangibles (excluding goodwill)$13.4M4 Dec 31, 2025$13.4M4 Dec 31, 20240%
Finite-lived intangibles, gross$231.0M4 Dec 31, 2025$231.0M8 Dec 31, 20240%
Accumulated amortization$102.9M4 Dec 31, 2025$88.6M8 Dec 31, 2024+16.1%
Finite-lived intangibles, net$128.1M4 Dec 31, 2025$142.4M8 Dec 31, 2024−10.0%

Properties, in its own words

As of December 31, 2025, we owned three buildings located in Springfield, Ill. comprised of our headquarters of approximately 225,000 square feet, a warehouse of approximately 11,000 square feet and one other building of approximately 12,000 square feet. In addition, we lease office space in suburban Dallas, Tx., Cherry Hill, N.J, and Madison, Wisc. which are utilized by one or more of all four reporting segments, depending on the location. For more information regarding our reporting segments, see Part I - Item 1, Reporting Segments of this Annual Report on Form 10-K. We believe our properties and facilities are suitable and adequate for current operations.

Item 2 of the 10-K filed Feb 27, 2026.13

Leadership

Who has led HORACE MANN EDUCATORS CORP /DE/, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Louis G. Lower Ii.2006–2010
  2. Peter H. Heckman2011–2013
  3. Marita Zuraitis2013–now

President

  1. Louis G. Lower Ii.2006–2010
  2. Peter H. Heckman2011–2013
  3. Marita Zuraitis2013–now

Chief financial officer

  1. Peter H. Heckman2006–2010
  2. Dwayne D. Hallman2011–2017
  3. Bret A. Conklin2017–2024
  4. Ryan E. Greenier2024–now

Chief operating officer

  1. Stephen J. McAnena2023–2025
2010201520202025
Board members and other officers (57)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • ABM Service Corporation Delaware3
  • BCG Securities, Inc. Pennsylvania3
  • Benefit Consultants Group, Inc. Pennsylvania3
  • Educators Life Insurance Company of America Illinois3
  • HMN Properties, LLC Illinois3
  • Horace Mann Employer Services Corporation Delaware3
  • Horace Mann General Agency Corporation Delaware3
  • Horace Mann Insurance Company Illinois3
  • Horace Mann Investors, Inc. Maryland3
  • Horace Mann Life Insurance Company Illinois3
  • Horace Mann Property & Casualty Insurance Company Illinois3
  • Horace Mann Service Corporation Illinois3
  • Madison National Life Insurance Company, Inc. Wisconsin3
  • NTA Life Insurance Company of New York New York3
  • National Teachers Associates Life Insurance Company Texas3
  • Teachers Insurance Company Illinois3
  • The Abacus Group, LLC Georgia3

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Oct 1, 20268-K Other events77
  2. Aug 5, 20268-K Results of operations78
  3. Jul 21, 20268-K Entered a material agreement; New debt or obligation79
  4. Jul 21, 20268-K Entered a material agreement; New debt or obligation80
  5. May 21, 20268-K Shareholder vote81
  6. May 6, 20268-K Results of operations82
  7. Mar 27, 20268-K Executive or director change83
  8. Feb 3, 20268-K Results of operations84
  9. Nov 4, 20258-K Results of operations85
  10. Sep 29, 20258-K Other events86
  11. Sep 26, 20258-K Other events87
  12. Aug 13, 20258-K Executive or director change88
  13. May 23, 2013New chief executive Marita Zuraitis becomes CEO14
  14. Jan 4, 2011New chief executive Peter H. Heckman becomes CEO15
  15. Jan 4, 2006New chief executive Louis G. Lower Ii. becomes CEO16

Calendar

Coming up

  1. Nov 3, 2026 · After the closeReports results for the quarter ending Sep/2026 A year earlier it reported $1.36 a share, on Nov 4, 2025.89

When it reported results

  1. Aug 5, 2026Reported quarterly or annual results78
  2. May 6, 2026Reported quarterly or annual results82
  3. Feb 3, 2026Reported quarterly or annual results84
  4. Nov 4, 2025Reported quarterly or annual results85
  5. Aug 6, 2025Reported quarterly or annual results90
  6. May 6, 2025Reported quarterly or annual results91
  7. Feb 5, 2025Reported quarterly or annual results92
  8. Nov 4, 2024Reported quarterly or annual results93

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

381 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 48 major events, 187 insider forms, 31 large holders, 95 other. The latest 20:

  1. Oct 15, 2026144 EDGAR
  2. Oct 13, 20264 PRIMARY DOCUMENT EDGAR
  3. Oct 8, 2026144 EDGAR
  4. Oct 8, 20264 PRIMARY DOCUMENT EDGAR
  5. Oct 6, 2026144 EDGAR
  6. Oct 1, 20268-K EDGAR
  7. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  8. Sep 8, 20264 PRIMARY DOCUMENT EDGAR
  9. Sep 3, 2026144 EDGAR
  10. Sep 3, 2026144 EDGAR
  11. Sep 3, 20264 PRIMARY DOCUMENT EDGAR
  12. Sep 1, 2026144 EDGAR
  13. Aug 14, 20264 PRIMARY DOCUMENT EDGAR
  14. Aug 14, 20264 PRIMARY DOCUMENT EDGAR
  15. Aug 12, 2026144 EDGAR
  16. Aug 7, 202610-Q EDGAR
  17. Aug 5, 20264 PRIMARY DOCUMENT EDGAR
  18. Aug 5, 20268-K EDGAR
  19. Aug 3, 2026144 EDGAR
  20. Jul 21, 20268-K EDGAR

The 381 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

89 open-market trades by officers, directors and large owners since October 2021: 8 buys and 81 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Sep 3, 2026Carley Donald MGeneral CounselSale2,054$52.28$107.4KForm 4
Sep 3, 2026Hines Perry G.DirectorSale3,237$52.22$169.0KForm 4
Sep 1, 2026ZURAITIS MARITAPresident & CEOSale7,500$50.99$382.4KForm 4
Aug 12, 2026Reece Henry WadeDirectorSale1,359$51.52$70.0KForm 4
Aug 12, 2026BRADLEY THOMAS ADirectorSale5,000$51.72$258.6KForm 4
Aug 3, 2026ZURAITIS MARITAPresident & CEOSale7,500$52.03$390.2KForm 4
Jul 1, 2026ZURAITIS MARITAPresident & CEOSale7,500$52.62$394.6KForm 4
Jun 2, 2026ZURAITIS MARITAPresident & CEOSale7,500$46.25$346.9KForm 4
May 19, 2026ZURAITIS MARITAPresident & CEOSale14$46.15$646Form 4
May 6, 2026ZURAITIS MARITAPresident & CEOSale2$46.15$92Form 4
May 5, 2026ZURAITIS MARITAPresident & CEOSale403$46.03$18.6KForm 4
May 4, 2026ZURAITIS MARITAPresident & CEOSale266$46.16$12.3KForm 4
May 1, 2026ZURAITIS MARITAPresident & CEOSale6,815$46.16$314.6KForm 4
Apr 23, 2026ZURAITIS MARITAPresident & CEOSale7,500$46.16$346.2KForm 4
Apr 1, 2026McClure Beverley J.DirectorSale1,081$42.54$46.0KForm 4
Mar 26, 2026Chauby Steven RChief Marketing OfficerBuy180$42.40$7.6KForm 4
Feb 25, 2026Fetter VictorDirectorBuy3,500$42.73$149.6KForm 4
Jan 2, 2026McClure Beverley J.DirectorSale1,081$45.18$48.8KForm 4
Jan 2, 2026ZURAITIS MARITAPresident & CEOSale5,000$45.15$225.8KForm 4
Dec 1, 2025ZURAITIS MARITAPresident & CEOSale5,000$45.35$226.8KForm 4

All 89 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Marita ZuraitisPresident & Chief Executive Officer$1.0M$8.5M105
2025Stephen J. McAnena Former ExecutiveVice President & Chief Operating Officer$566.7K$2.1M105
2025Bret A. ConklinFormer Executive Vice President, Finance Transformation$545.0K$1.4M105
2025Donald M. Carley Executive Vice PresidentGeneral Counsel and Chief Administrative Officer$453.8K$1.3M105
2025Ryan E. GreenierExecutive Vice President & Chief Financial Officer$410.4K$1.2M105
2025Mark R. DesrochersSenior Vice President, Chief Actuarial & Strategy Officer$412.9K$1.1M105
2024Marita ZuraitisPresident & Chief Executive Officer$1.0M$8.2M105
2024Bret A. ConklinFormer Executive Vice President, Finance Transformation$541.7K$1.8M105
2024Stephen J. McAnena Former ExecutiveVice President & Chief Operating Officer$520.8K$1.7M105
2024Donald M. Carley Executive Vice PresidentGeneral Counsel and Chief Administrative Officer$432.5K$1.2M105
2024Ryan E. GreenierExecutive Vice President & Chief Financial Officer$345.8K$925.1K105
2023Marita ZuraitisPresident & Chief Executive Officer$1.0M$6.1M105
2023Bret A. ConklinFormer Executive Vice President, Finance Transformation$525.0K$1.4M105
2023Stephen J. McAnena Former ExecutiveVice President & Chief Operating Officer$324.0K$1.2M105
2023Donald M. Carley Executive Vice PresidentGeneral Counsel and Chief Administrative Officer$418.3K$994.7K105
2023Ryan E. GreenierExecutive Vice President & Chief Financial Officer$325.0K$668.3K105

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.5,885,884$304.0M0.0%−10,310
Franklin Resources Inc3,026,656$156.3M0.0%+27,180
Vanguard Portfolio Management LLC2,844,088$146.9M0.0%+2,404
Dimensional Fund Advisors LP2,229,490$115.2M0.0%+44,842
Fuller & Thaler Asset Management, Inc.1,915,839$99.0M0.3%−69,667
State Street Corp1,870,047$96.6M0.0%+141,309
Vanguard Capital Management LLC1,820,168$94.0M0.0%−4,536
Wasatch Advisors LP1,401,027$72.4M0.5%New
American Century Companies Inc1,247,802$64.4M0.0%+271,569
Earnest Partners LLC1,122,824$58.0M0.2%−4,007
Geode Capital Management, LLC1,104,330$57.1M0.0%+47,104
Arrowstreet Capital, Limited Partnership875,342$45.2M0.0%+44,571
Brown Advisory Inc829,104$42.8M0.1%+22,249
Ameriprise Financial Inc698,822$36.1M0.0%+41,808
Alliancebernstein L.P.822,950$35.1M0.0%+91,518
Bank Of America Corp /de/567,019$29.3M0.0%+63,490
Hotchkis & Wiley Capital Management LLC549,837$28.4M0.1%+10,580
Invesco Ltd.522,019$27.0M0.0%+47,627
Charles Schwab Investment Management Inc517,326$26.7M0.0%−9,759
Morgan Stanley486,975$25.2M0.0%+44,254
Northern Trust Corp463,430$23.9M0.0%+29,925
Bragg Financial Advisors, Inc454,836$23.5M0.6%−540
Two Sigma Investments, LP428,417$22.1M0.0%+1,159
Bank of New York Mellon Corp388,408$20.1M0.0%+1,878
Bridgeway Capital Management, LLC319,332$16.5M0.3%−17,444

13F reports cover disclosed long positions in U.S. stocks only.

Members of Congress who traded it

17 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Aug 20, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−10.0%Report
Jul 10, 2026Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−14.7%Report
Jan 5, 2026Gilbert Ray Cisneros, Jr.Democratic, HousePartial sale$1,001 - $15,000+11.2%Report
Jun 11, 2025Lisa C. McClainRepublican, HouseSale$1,001 - $15,000+20.8%Report
Jun 9, 2025Lisa C. McClainRepublican, HouseBuy$1,001 - $15,000−21.8%Report
Apr 9, 2025Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+26.6%Report
Jul 14, 2023Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−12.0%Report
Jun 13, 2023Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+29.0%Report
Oct 16, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−93.4%Report
Sep 15, 2020Josh GottheimerDemocratic, HousePartial sale$1,001 - $15,000+91.8%Report
Sep 2, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−97.7%Report
May 19, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−127.7%Report
Mar 10, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−155.0%Report
Feb 24, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−135.2%Report
Feb 21, 2020Gilbert Ray Cisneros, Jr.Democratic, HouseBuy$1,001 - $15,000−129.6%Report
Feb 18, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−127.4%Report
Feb 14, 2020Josh GottheimerDemocratic, HouseBuy$1,001 - $15,000−127.6%Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

SEC filer profile

How HORACE MANN EDUCATORS CORP /DE/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARHORACE MANN EDUCATORS CORP /DE/1
  • CIK0000850141
  • Employer ID (EIN)37-091175613
  • Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company13
  • Incorporated inDelaware13
  • Fiscal year endsDecember 311
  • Industry code (SIC)6331 Fire, Marine & Casualty Insurance1
  • SEC reviewing officeOffice of Finance, Division of Corporation Finance1
  • Business address1 Horace Mann Plz, Springfield, IL 62715-00011
  • Phone21778925001
  • Shares outstanding40,501,054 as of Jul 31, 202611
  • Public float$1.7B as of Jun 30, 202513
  • AuditorKPMG LLP, Columbus, OH PCAOB ID 185; it also attests to the company’s internal control over financial reporting13
  • On EDGAR sinceMay 15, 19961
  • Filings2,410 in all: 4 (1,587), 8-K (214), SC 13G/A (104), 10-Q (92), 144 (73), 3 (51), 4/A (31), DEF 14A (31)1
    All 40 form types

    SC 13G (31), 10-K (30), 11-K (26), DEFA14A (20), 424B3 (19), ARS (15), CORRESP (14), UPLOAD (12), S-8 (6), SCHEDULE 13G/A (6), PRE 14A (5), 424B2 (4), FWP (4), S-3 (4), S-3ASR (4), SCHEDULE 13G (4), 424B5 (3), EFFECT (3), 8-K/A (2), S-3/A (2), SC 13D/A (2), 10-Q/A (1), 144/A (1), 15-12B (1), 25 (1), 3/A (1), 424B4 (1), DEFR14A (1), NT 10-K (1), S-4 (1), S-8 POS (1), SC 13D (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 7, 2026
    Proxy statement (DEF 14A) Apr 6, 2026
    Latest 8-K (8-K) Oct 1, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.001 per shareHMNNew York Stock Exchange

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).13

Risk factors and legal proceedings

The risks HORACE MANN EDUCATORS CORP /DE/ names in Item 1A of its 10-K filed Feb 27, 2026: 25 risks under these headings, as written.13

  • Index to Risk Factors
  • Risks Related to Economic Conditions, Market Conditions and Investments
  • Volatile financial markets and adverse economic environments can affect financial market risk as well as our financial condition and results of operations.
  • Changes in interest rates could have a material adverse effect on our financial condition and results of operations.
  • Our investment portfolios are subject to the risk of loss.
  • Strategic Risks
  • The personal lines insurance, retirement and supplemental group benefit markets are highly competitive and our financial condition and results of operations may be adversely affected by competitive forces.
  • The development and maintenance of our various distribution channels are critical to growth in product sales and profits.
  • If we are not able to maintain secure access to educators, our financial condition and results of operations could be adversely affected.
  • Lack of successful execution on acquisition integration strategies could result in impairment of goodwill and intangible assets that could adversely affect our results of operations.
  • Operational Risks
  • A catastrophe event, a series of multiple catastrophe events or a series of non-catastrophe severe weather events could have a material adverse effect on our financial condition and results of operations.
The other 17 risks
  • Our property and casualty loss reserves may not be adequate.
  • Our legacy commercial lines exposure could encounter adjustments to loss reserve estimates.
  • Actual experience differing significantly from our life and health pricing and reserving assumptions could negatively affect our results of operations and financial condition.
  • A large-scale pandemic, the occurrence of terrorism, or military actions may have an adverse effect on our business.
  • Climate change may adversely affect our financial position, results of operations, and cash flows.
  • Cybersecurity breaches could have an adverse effect on our business and reputation.
  • Successful execution of our business growth strategy is dependent on effective implementation of new or enhanced technology systems and applications.
  • Loss of key vendor relationships could affect our operations.
  • Our ability to attract, develop, engage, and retain top talent, maintain optimal staffing levels, and foster/sustain a highly inclusive and engaging culture contributes to our success.
  • Financial Strength, Credit and Counterparty Risks
  • Losses due to defaults by others could reduce our profitability or negatively affect the value of our investments.
  • Uncollectible reinsurance, as well as reinsurance availability and pricing, can have a material adverse effect on our business volume and profitability.
  • We are subject to the credit risk of our counterparties, including reinsurers who reinsure business from our insurance companies.
  • Any downgrade in or adverse change in outlook for our claims-paying ratings, financial strength ratings or credit ratings could adversely affect our financial condition and results of operations.
  • Regulatory and Legal Risks
  • Changes in tax rates, laws or regulations could adversely impact our financial results.
  • Legal, statutory and regulatory developments could adversely impact our business by increasing costs or making our business less profitable.
  • Litigation may harm our financial strength or reduce our profitability.
  • Events, including those external to our operations, could damage our reputation.
  • Artificial Intelligence Risks

Legal proceedings

At the time of issuance of this Annual Report on Form 10-K, we do not have a pending litigation from which there is a reasonable possibility of material loss.

The opening of Item 3, Legal Proceedings.13

Sources

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  23. 23
  24. 24
  25. 25
  26. 26
  27. 27
  28. 28
  29. 29
  30. 30
  31. 31
  32. 32
  33. 33
  34. 34
  35. 35
  36. 36
  37. 37
  38. 38
  39. 39
  40. 40
  41. 41
  42. 42
  43. 43
  44. 44
  45. 45
  46. 46
  47. 47
  48. 48
  49. 49
  50. 50
  51. 51
  52. 52
  53. 53
  54. 54
  55. 55
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  58. 58
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  61. 61
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  64. 64
  65. 65
  66. 66
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  68. 68
  69. 69
  70. 70
  71. 71
  72. 72
  73. 73
  74. 74
  75. 75
  76. 76
  77. 77
    SEC EDGAROther events
  78. 78
  79. 79
  80. 80
  81. 81
  82. 82
  83. 83
  84. 84
  85. 85
  86. 86
    SEC EDGAROther events
  87. 87
    SEC EDGAROther events
  88. 88
  89. 89
  90. 90
  91. 91
  92. 92
  93. 93
  94. 94
  95. 95
  96. 96
  97. 97
  98. 98
  99. 99
  100. 100
  101. 101
  102. 102
  103. 103
  104. 104
  105. 105