Close Close
Sign In
Newsletters
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
Podcast Center Video Center Webcasts Resource Center Events
About ThinkAdvisor Contact Us Advertise With Us Asset & Logo Licensing Sitemap Terms of Service Privacy Policy Copyright © 2024 ALM Global, LLC. All Rights Reserved.
ThinkAdvisor

Life Health > Life Insurance

Horace Mann Completes BCG Acquisition

By Allison Bell

X
Your article was successfully shared with the contacts you provided.

Horace Mann Educators Corp. has completed a previously announced acquisition of Benefit Consultants Group (BCG), a retirement plan provider.

Horace Mann — a Springfield, Illinois-based company that sells life insurance, group annuities and other products to teachers and other school employees — said BCG will stay in its offices in Cherry Hill, New Jersey, with the same name and the same managers.

(Related: Horace Mann Agrees to Acquire National Teachers Associates)

Horace Mann is still in the process of acquiring another company, National Teachers Associates Life Insurance Company (NTA) of Dallas.

NTA is a Dallas-based company that issues cancer insurance, insurance against heart conditions, and other supplemental insurance products. It also sells life insurance and disability income insurance.

In October, Moody’s Investors Service increased Horace Mann’s senior debt rating to Baa2, from Baa3, and it increased the insurance financial strength rating on the company’s Horace Mann Life Insurance Company unit to A2, from A3.

The Horace Mann Life unit has good profitability, a good position in the 403(b) retirement plan market at K-12 schools, and strong capital adequacy, Moody’s said.

Moody’s said one factor that could lead to another increase in the life unit’s ratings would be an effort by the unit to expand the share of sales coming from products other than life insurance and tax-sheltered annuities.

— Read 2019 Life, Health and Annuity Planner, on ThinkAdvisor.

— Connect with ThinkAdvisor Life/Health on LinkedIn and Twitter.

Allison Bell

Think_Allison

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.