霍勒斯曼恩 2025年季度报告

For the transition period from ________ to ________Commission file number1-10890 (Exact name of registrant as specified in its charter)Delaware37-0911756(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)1 Horace Mann Plaza,Springfield,Illinois62715-0001 (Address of principal executive offices) (Zip Code)Registrant’s telephone number, including area code: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities registrant was required to submit such files).Yes☑No☐Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller Large accelerated filer☑Accelerated filerNon-accelerated filer☐Smaller reporting company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2025TABLE OF CONTENTS PART I - FINANCIAL INFORMATION Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 2024 Consolidated Statements of Cash Flows for the ThreeMonths EndedMarch31, 2025and2024(Unaudited) Note 2 - Investments Note 4 - Short-Duration Insurance ContractsNote 5 - Long-Duration Insurance ContractsNote 6 - ReinsuranceNote 7 - Segment InformationNote 8 - Accumulated Other Comprehensive Income (Loss)Note 9 - Supplemental Consolidated Cash and Cash Flow InformationNote 10 - Contingencies and CommitmentsItem 2.Management’s Discussion and Analysis of Financial Conditionand Results of OperationsItem 3.Quantitative and Qualitative Disclosures About Market RiskItem 4.Controls and ProceduresPART II - OTHER INFORMATIONItem 1.Legal ProceedingsItem 1A.Risk FactorsItem 2.Unregistered Sales of Equity Securities and Use of ProceedsItem 5.Other InformationItem 6.ExhibitsSIGNATURES Total assetsLiabilities and Shareholders' Equity $ ($ in millions)Three Months Ended NOTE 2 -Investments Net Investment Income The components of net investment income for the following periods were as follows:($ in millions)Three Months EndedMarch 31,20252024Fixed maturity securities$71.6$ Investment expenses(2.8)Net investment income - investment portfolio91.5Investment income - deposit asset on reinsurance24.4 Total net investment income Net Investment Gains (Losses)Net investment gains (losses) for the following periods were as follows: Net investment gains (losses)$(3.3)$ maturity security. The types of events that may result in a sale include significant changes in the economic facts the Company's investment strategy. The breakdown of net investment gains (losses) by transaction type for the following periods were as follows: ($ in millions) Credit loss impairmentsIntent-to-sell impairments —Total impairments—Sales and other, net0.2 Allowance for Credit Loss Impairments on Fixed Maturity Securities maturity securities have an allowance for credit loss impairments): ($ in millions) March 31,20252024Beginning balance$0.9$ Horace Mann Educators Corporation7First Quarter 2025 Form 10-Q Fixed Maturity SecuritiesThe Company's investment portfolio is comprised primarily of fixed maturity securities.Amortized cost, net, ($ in millions)AmortizedGrossUnrealizedGrossUnrealized U.S. Government and federallysponsored agency obligations: Other, including U.S. Treasury securities Municipal bondsForeign government bonds Horace Mann Educators Corporation unrealized loss position as of March31, 2025 and December31, 2024, respectively. The Company views thedecrease in fair value of all of the fixed maturity securities with unrealized losses as of March31, 2025 as due to unnecessary, we considered the factors described in the evaluation of credit loss impairments for fixed maturitysecurities critical accounting estimate in our Annual Report on Form 10-K. In the current three months ended March 31, 2025, the performance of fixed maturity securities has been impacted by the change in interest rates, Total$ Number of positions with agross unrealized loss7691,8282,597Fair value as a percentage of total fixed Total investment grade 4115 Sales of Fixed Maturity and Equity SecuritiesProceeds received from sales of fixed maturity and equity securities, each determined using the specificidentification method, and gross gains and gross losses realized as a result of those sales for each period were as($ in millions)Three Months Ended March 31, 2025Asset derivatives: insurance subsidiaries of HMEC conduct business. In addition, as of March31, 2025 and December31, 2024,fixed maturity securities with a fair value of $1,089.5million and $1,072.2million, respectively, were on deposit with the Federal Home Loan Bank of Chicago (FHLB) as collateral for amounts subject to funding agreements,advances and borr