Proposed Acquisition of Control of Madison National Life Insurance Company, Inc.

​​​​​​​Last Updated: December 21, 2021​

Information on the Acquisition of Control of Madison National Life Insurance Company, Inc., by Horace Mann Educators Corporation

Horace Mann Educators Corporation (the “Applicant"), a publicly traded corporation requests the prior approval of the Wisconsin Commissioner of Insurance (the “Commissioner"), pursuant to Wis. Stat. § 611.72(2), of the acquisition of control of Madison National Life Insurance Company, Inc., a Wisconsin domiciled stock life insurance company (the “Domestic Insurer"), by the applicant.

The Applicant has entered into a Stock Purchase Agreement to acquire all of the issued and outstanding capital stock of the Domestic Insurer in an all-cash transaction, which will result in the Applicant becoming the controlling person of the Domestic Insurer.

Filings

• Transmittal Letter

• Form A

• Redacted Stock Purchase Agreement (and excluding schedules and annexes)

• Unredacted Stock Purchase Agreement (submitted confidentially under separate cover) [CONFIDENTIAL]

• ​​Voting Agreement

• Pre-Acquisition Organizational Chart of the Applicant

• Pre-Acquisition Organizational Chart of the Domestic Insurer

• Post-Acquisition Organizational Chart of the Applicant and Domestic Insurer

• List of Current and Proposed Directors and Executive Officers of the Applicant

• Biographical Affidavits Executed by the Directors and Executive Officers of the Applicant and the Proposed Directors and Officers of the Domestic Insurer (submitted confidentially under separate cover) [CONFIDENTIAL]

• Post-Acquisition Business Plan for the Domestic Insurer (submitted confidentially under separate cover) [CONFIDENTIAL]

• List of the Proposed Directors and Executive Officers of the Domestic Insurer

• Current Articles of Incorporation of the Domestic Insurer

• Current Bylaws of the Domestic Insurer

• Audited Annual Financial Statements for the Applicant for 2016

• Audited Annual Financial Statements for the Applicant for 2017

• Audited Annual Financial Statements for the Applicant for 2018

• Audited Annual Financial Statements for the Applicant for 2019

• Audited Annual Financial Statements for the Applicant for 2020

• Quarterly Financial Statements for the Applicant for the quarter ended March 31, 2021

• Quarterly Financial Statements for the Applicant for the quarter ended June 30, 2021

• Annual Report of the Applicant to Stockholders for 2019

• Annual Report of the Applicant to Stockholders for 2020

• ICC and Domestic Insurer Board Resolutions approving the Stock Purchase

• Applicant Board Resolutions approving the Stock Purchase

• Competitive Impact Statement

• Consent to Jurisdiction Statement

Hearing Documents

• Hearing Notification

• Notice of Hearing

• List of Exhibits

• Case Recommendation Memo

Proposed Decision

• ​​​Proposed Decision Notification
  

• Proposed Decision
  

• ​Waiver of Right to Object - Horace Mann
  

• Waiver of Right to Object - Madison National Life Insurance Company