Horace Mann Insurance Company has acquired Madison National Life, expanding its presence in the life insurance market. The deal strengthens Horace Mann’s portfolio of financial protection products for customers.
Independence Holding Company (IHC) finalizes the sale of its subsidiary **Madison National Life Insurance Company** to **Horace Mann Educators Corporation**. The transaction closes on January 1, 2022, with all conditions met. The deal marks the full transfer of ownership of the life insurance subsidiary.
Horace Mann Educators Corporation is acquiring Madison National Life Insurance Company for **$172 million**. Madison National specializes in employer-paid and sponsored benefits for K-12 educators through school districts. The deal, pending regulatory approval, is expected to close in early 2022.
Horace Mann is acquiring Madison National Life from IHC in a deal valued at **$172.5 million**. The transaction expands Horace Mann’s presence in the life insurance sector. The acquisition follows IHC’s strategic decision to divest the subsidiary.
