霍勒斯曼恩 2025年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIESEXCHANGE ACT OF 1934For the quarterly period ended March 31, 2025 ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934For the transition period from ________ to ________ Commission file number 1-10890 HORACE MANN EDUCATORS CORPORATION(Exact name of registrant as specified in its charter) (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:217-789-2500 Securities registered pursuant to Section 12(b) of the Act: Name of each exchangeon which registered Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) ofthe Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrantwas required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes☑No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or forsuch shorter period that the 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 reporting company, or an emerging growth company. See the definitions of "large accelerated filer,""accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the ExchangeAct. Large accelerated filer☑Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act.).Yes☐No☑ As of April 30, 2025, the registrant had 40,779,105 common shares, $0.001 par value, outstanding. HORACE MANN EDUCATORS CORPORATIONQUARTERLY REPORT ON FORM 10-QFOR THE QUARTERLY PERIOD ENDED MARCH 31, 2025TABLE OF CONTENTS PART I - FINANCIAL INFORMATIONPage Item 1.Consolidated Financial Statements Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31,20241 Consolidated Statements of Operations and Comprehensive Income (Loss) for theThreeMonths Ended March31, 2025and 2024(Unaudited) 2 Consolidated Statements of Changes in Shareholders’ Equity for the ThreeMonths Ended March31, 2025and 2024(Unaudited) Consolidated Statements of Cash Flows for the ThreeMonths Ended March31,2025and 2024(Unaudited) Notes to Consolidated Financial Statements (Unaudited)Note 1 - Basis of Presentation and Significant Accounting Policies5Note 2 - Investments6Note 3 - Fair Value of Financial Instruments12Note 4 - Short-Duration Insurance Contracts18Note 5 - Long-Duration Insurance Contracts19Note 6 - Reinsurance29Note 7 - Segment Information30Note 8 - Accumulated Other Comprehensive Income (Loss)32Note 9 - Supplemental Consolidated Cash and Cash Flow Information33Note 10 - Contingencies and Commitments33 Item 2.Management’s Discussion and Analysis of Financial Conditionand Results of Operations 34 Item 3.Quantitative and Qualitative Disclosures About Market Risk54Item 4.Controls and Procedures55PART II - OTHER INFORMATIONItem 1.Legal Proceedings56Item 1A.Risk Factors56Item 2.Unregistered Sales of Equity Securities and Use of Proceeds56Item 5.Other Information56Item 6.Exhibits57SIGNATURES61 PART I: FINANCIAL INFORMATION ITEM 1.IConsolidated Financial Statements HORACE MANN EDUCATORS CORPORATIONCONSOLIDATED BALANCE SHEETS($ in millions, except share data) HORACE MANN EDUCATORS CORPORATIONNOTES TO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) NOTE 1 - Basis of Presentation and Significant Accounting Policies Business Horace Mann Educators Corporation is a holding company for insurance subsidiaries that market andunderwrite personal lines of property and casualty insurance products (primarily personal lines of autoand property insurance), life insurance products, retirement products (primarily tax-qualified fixed andvariable annuities), individual supplemental insurance products (primarily cancer, heart, hospital,supplemental disability and accident coverages), and group benefit products (primarily short-term andlong-term group disability, and group term life coverages), primarily to K-12 teachers, administratorsand other employees of public schools and their families (collectively, HMEC, the Company or HoraceMann). The Company conducts and manages its business