Horace Mann Educators Corporation has agreed to acquire two businesses from Medical Mutual of Ohio in separate transactions.
Horace Mann will acquire the employee assistance provider Employee Services, LLC (ESI) through the acquisition of ESI membership interests, and separately, will acquire an individual supplemental platform through the acquisition of all outstanding capital stock of Reserve National Insurance Company (RNIC) and reinsure MedMutual Life Insurance Company’s group life and disability business while Medical Mutual of Ohio will retain the legal insurance entity.
The acquired businesses generate nearly $200 million in annual revenue, serve more than one million covered lives across approximately 7,000 employer relationships, and add over 1,000 agents and brokers to Horace Mann’s distribution capabilities.
A Squire Patton Boggs team led by partners Doug Anderson and Molly McNally represented Medical Mutual of Ohio.
