Horace Mann Acquiring Dallas Insurer In $405M Deal

Horace Mann Educators Corp. announced Monday it has signed a deal to acquire a Dallas-based insurance company for $405 million.

The company will acquire National Teachers Associates Life Insurance Company, a family-owned firm that specializes in supplemental insurance products for teachers. NTA has about 220 agents nationwide and had about $130 million in premiums and $30 million in core earnings in the 12 months ending in September.

"This transaction brings together two organizations that share a deep commitment to the education market, increasing our reach and distribution by more than 30 percent with limited geographic overlap," said Horace Mann President and CEO Marita Zuraitis. "The addition of NTA will accelerate our progress toward becoming the company of choice to provide financial solutions to the education market."

The transaction has been approved by the Horace Mann board and is expected to close in the second quarter of 2019, pending regulatory approvals.

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