HORACE MANN EDUCATORS CORP N

Ticker: HMN CUSIP: 440327104 Class: Common Stock

Philadelphia Financial Management of San Francisco, LLC's Holding History (CIK: 0001351407)

Note: Option positions (PUT/CALL) are excluded.

Q1 2016

Shares 297,960 Value ($000) $9,442 Avg Close $30.67 Range $27.15 - $32.64

Q4 2015

Shares 231,745 Value ($000) $7,689 Avg Close $34.19 Range $32.28 - $36.73

Q3 2015

Shares 383,746 Value ($000) $12,748 Avg Close $34.66 Range $30.78 - $38.01

Period	Shares	Value ($000)	Average Close	Price Range
Q1 2016	297,960	$9,442	$30.67	$27.15 - $32.64
Q4 2015	231,745	$7,689	$34.19	$32.28 - $36.73
Q3 2015	383,746	$12,748	$34.66	$30.78 - $38.01