State Journal-Register, The (Springfield, IL)
Horace Mann Educators Corp. introduced Monday it has signed a deal to accumulate a Dallas-based insurance coverage firm for $405 million.
The corporate will purchase Nationwide Lecturers Associates Life Insurance coverage Firm, a family-owned agency that makes a speciality of supplemental insurance coverage merchandise for academics. NTA has about 220 brokers nationwide and had about $130 million in premiums and $30 million in core earnings within the 12 months ending in September.
“This transaction brings collectively two organizations that share a deep dedication to the training market, growing our attain and distribution by greater than 30 % with restricted geographic overlap,” mentioned Horace Mann President and CEO Marita Zuraitis. “The addition of NTA will speed up our progress towards turning into the corporate of alternative to supply monetary options to the training market.”
The transaction has been accredited by the Horace Mann board and is predicted to shut within the second quarter of 2019, pending regulatory approvals.
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