Horace Mann Educators Corporation was founded in Springfield, Illinois, in 1945. Originally named the IEA (Illinois Education Association) Mutual Insurance Company, Horace Mann was established by two teachers who saw a need for providing auto insurance for their association members.
Later, IEA Mutual was renamed Horace Mann. The name was chosen to honor the father of American public education and symbolized the company's commitment to the welfare of the educator community.
In 1947, Horace Mann expanded to offer auto insurance to teachers in additional states.
In 1949, the Horace Mann Life Insurance Company was founded to provide a full range of life insurance products to educators and their families.
Horace Mann entered the annuity market in 1961, the same year Congress passed legislation creating tax-deferred annuities. Today, the company has over $1.8 billion in deposits.
In 1974, INA Corporation, a Philadelphia-based insurance and financial services corporation, began increasing its holdings of Horace Mann and by January 1975 had acquired the company. In 1982, INA Corporation merged with Connecticut General Corporation, forming a new holding company known as CIGNA.
In August 1989, Horace Mann was acquired from CIGNA by an investor group that included company management. In November 1991, Horace Mann completed an initial public offering of common stock at $18 per share. In January 1994, Horace Mann acquired Allegiance Insurance Company, a California property/casualty company, providing access to an additional 400,000 educators. Horace Mann had managed Allegiance Insurance Company since 1989. Allegiance Insurance Company changed its name to Horace Mann Property & Casualty Insurance Company effective the 19th of March 2001.
Today, Horace Mann is the largest multiline insurance company focusing on the nation's educators and their families with more than $4 billion in assets. Horace Mann offers retirement annuities, automobile, homeowner, group and life insurance to educators and their families.