Horace Mann to Acquire National Teachers Associates

Horace Mann Educators Corporation has signed a definitive agreement to acquire National Teachers Associates Life Insurance Company, a provider of supplemental insurance products to the education market with nearly 50 years of experience.

Headquartered in Dallas, family-owned NTA specializes in developing, marketing and underwriting supplemental insurance products, including cancer and heart. The company has a captive sales force of approximately 220 agents nationwide, and for the 12 months ended September 30, 2018, NTA premiums were approximately $130 million and total core earnings were approximately $30 million.

“We are excited to welcome NTA’s employees, agents, policyholders and management to Horace Mann. This transaction brings together two organizations that share a deep commitment to the education market, increasing our reach and distribution by more than 30% with limited geographic overlap. The addition of NTA will accelerate our progress toward becoming the company of choice to provide financial solutions to the education market.” – President and CEO of Horace Mann, Marita Zuraitis.

“NTA was built on the belief that great people plus great products equal great opportunities. Joining forces with Horace Mann, a well-respected company and fellow leader in the education market, is a natural evolution that will allow our company and our people to reach their full potential.” – President and CEO of NTA, Wade Rugenstein.

Under the terms of the transaction, Horace Mann will acquire NTA for $405 million. The transaction has been approved by Horace Mann’s Board of Directors and is expected to close in the second quarter of 2019, pending regulatory approvals and other customary closing conditions. After close, NTA will operate as a separate Horace Mann business segment under its current leadership team.