Horace Mann Educators (HMN) Announces Management Departure; Reiterates Commitment to Achieving Sustainable Double-Digit Return on Equity

March 18, 2021 4:46 PM EDT

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Horace Mann Educators Corporation (NYSE: HMN) today announced that Wade Rugenstein, EVP Supplemental, is leaving the company effective April 15, 2021, to pursue other interests outside of the insurance industry.

“Wade joined Horace Mann in conjunction with our acquisition of NTA Life Enterprises, LLC (NTA) in July 2019,” said Horace Mann President and CEO Marita Zuraitis. “We appreciate his contribution to the successful integration of NTA as our new Supplemental Insurance segment and wish him the best in his future endeavors. As we accelerate our growth trajectory in the post-pandemic environment with Horace Mann’s full suite of financial solutions for educators, his responsibilities will be shared across our existing leadership team.

“Since the acquisition, the Supplemental business has become integral to our ongoing initiatives to improve our ability to serve educators by enhancing our product offerings, strengthening our distribution and modernizing our infrastructure,” Zuraitis added. “The Supplemental segment contributed $43.1 million to total 2020 core earnings of $143.1 million. Now fully integrated, this segment joins with the others to keep us on the path to sustainable, long-term double-digit ROEs.”

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