Horace Mann agrees to buy Medical Mutual’s Employee Services and Reserve National for about $240 million

Horace Mann Educators Corporation

Horace Mann Educators Corporation

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  • Horace Mann agreed to buy employee assistance provider Employee Services, LLC from Medical Mutual of Ohio.
  • Separate deal covers Reserve National Insurance Company, an individual supplemental platform, with MedMutual retaining the legal insurance entity.
  • Horace Mann will also reinsure MedMutual Life Insurance Company’s group life and disability business.
  • Combined transactions carry a total net purchase price of about $240 million, funded with excess capital and revolver borrowings.
  • Businesses add nearly $200 million in annual revenue, cover over 1 million lives across about 7,000 employers, with ESI closing Q4 2026 and the rest Q1 2027.


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