Horace Mann Announces Management Departure; Reiterates Commitment to Achieving Sustainable Double-Digit Return on Equity
Horace Mann Educators Corporation (NYSE:HMN) announced the departure of Wade Rugenstein, EVP Supplemental, effective April 15, 2021. Rugenstein joined Horace Mann in July 2019 during the acquisition of NTA Life Enterprises. His contributions were significant in integrating NTA into the Supplemental Insurance segment, which generated $43.1 million in core earnings for 2020. Following his exit, responsibilities will be redistributed among the existing leadership to maintain growth in the company's financial solutions for educators.
- Supplemental segment contributed $43.1 million to total core earnings of $143.1 million in 2020.
- Integration of NTA Life Enterprises enhances service offerings and infrastructure for educators.
- Departure of a key executive may impact leadership stability during a critical growth phase.
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
About Horace Mann
Horace Mann is the largest financial services company focused on providing America's educators and school employees with insurance and retirement solutions. Founded by Educators for Educators® in 1945, the company is headquartered in Springfield, Ill. For more information, visit horacemann.com.
Safe Harbor Statement
Statements included in this news release that are not historical in nature are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties. Horace Mann is not under any obligation to (and expressly disclaims any such obligation to) update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Please refer to the company's Annual Report on Form 10-K for the period ended December 31, 2020 and the company's past and future filings and reports filed with the Securities and Exchange Commission for information concerning the important factors that could cause actual results to differ materially from those in forward-looking statements.
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