Transaction Overview

Thursday, October 1, 2026, 4:15:00 PM EDT

Acquisition expands Horace Mann’s ability to help school districts and other employers support employee well-being

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SPRINGFIELD, Ill., - Horace Mann Educators Corporation (NYSE: HMN) today announced it has completed its previously announced acquisition of all outstanding membership interests of Employee Services, LLC (ESI) from Medical Mutual of Ohio.

ESI is an employee assistance program provider that helps employers support the well-being of their employees and families. Its services include confidential counseling, work-life assistance and other resources designed to help people address personal and professional challenges.

"The addition of ESI represents an important step in expanding how Horace Mann serves school districts and other employers, as well as the people who work for them,” said Marita Zuraitis, President and Chief Executive Officer of Horace Mann. “Our mission is centered on helping educators and others who serve their communities succeed, and that begins with understanding the full range of challenges they face. These new capabilities give us another way to deliver on that mission and make a meaningful difference in people’s lives.”

The acquisition builds on Horace Mann’s educator-centric foundation and advances its strategy to expand the solutions it provides to school districts and other employers. ESI’s capabilities complement Horace Mann’s existing insurance and financial solutions by addressing the growing need for mental health and well-being resources.

“We’re pleased to welcome the ESI team to Horace Mann,” said Tyson Sanders, Senior Vice President, Supplement & Group Benefits. “ESI has built a strong business grounded in responsive service and a deep understanding of employer and employee needs. The team is poised to continue its growth as part of our company. We look forward to extending this Horace Mann employee assistance program to our customers and clients.”

Horace Mann initially announced the ESI acquisition on July 21, 2026, as one of two separate agreements with Medical Mutual of Ohio. Horace Mann’s separate transaction to acquire all outstanding capital stock of Reserve National Insurance Company and assume the economics and operations of MedMutual Life’s Group Life and Disability business through a reinsurance transaction remains subject to customary closing conditions and regulatory approvals. That transaction is expected to close in the first quarter of 2027.

About Employee Services, LLC

Employee Services, LLC is an employee assistance program provider that helps organizations support the well-being and productivity of their employees. ESI provides confidential counseling, work-life assistance and related services to employers and their employees and families. For more information, visit https://www.theeap.com/.

About Horace Mann

Horace Mann Educators Corporation (NYSE: HMN) is the largest multiline financial services company focused on helping America’s educators and others who serve their communities achieve lifelong financial success. The company offers individual and group insurance and financial solutions tailored to the needs of the educator community. Founded by educators for educators, Horace Mann is headquartered in Springfield, Illinois. For more information, visit horacemann.com.

Advisors

Raymond James & Associates is acting as financial advisor to Horace Mann and Eversheds Sutherland (US) LLP is acting as legal counsel to Horace Mann. Squire Patton Boggs is acting as legal counsel for Medical Mutual of Ohio and Sherman & Company is acting as financial advisor.