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CNO Financial Group, Inc. (NYSE: CNO) is a prominent holding company specializing in providing life and health insurance, annuities, and financial services to middle-income American consumers. Established in 1979 and headquartered in Carmel, Indiana, CNO began operations in 1982. Initially known as Conseco, Inc., the company rebranded to its current name in 2010. CNO operates through various subsidiaries, including Bankers Life, Washington National, Colonial Penn, and 40|86 Advisors, catering to over 4 million middle-income working Americans and retirees.
The core business segments of CNO Financial Group include annuity, health, and life insurance product lines, as well as investment and fee revenue segments. The company generates the majority of its revenue from the health product line, with annuity premiums also contributing significantly. CNO's broad product portfolio includes long-term care, life, and supplemental health insurance, along with annuity products such as fixed index annuities, traditional fixed-rate annuities, and single-premium immediate annuities.
CNO's distribution network comprises exclusive agents, independent producers, and direct marketing channels, allowing consumers to access their products through various means including phone, online, mail, and face-to-face interactions with agents. The company's strategic focus on the under-served middle market positions it uniquely to address the financial security needs of more than 50 million households across the United States.
Recent achievements highlight CNO's ongoing commitment to growth and community engagement. The company continues to expand its agent force and enhance productivity through new product offerings and tech-enabled efficiency initiatives. Financially, CNO reported net income of $167.3 million in 3Q23, reflecting strong underwriting margins and net investment income results. Additionally, CNO's annual CNO Financial Indianapolis Monumental Marathon has become a celebrated event, underscoring the company's dedication to health and wellness in the central Indiana community.
CNO Financial Group is also committed to social responsibility, evidenced by its $50,000 donation to the African American Alliance of CDFI CEOs for the second consecutive year. This contribution aims to support economic equity and empower Black-led community development financial institutions.
With robust financial health, as demonstrated by a strong capital position and sustained profitable growth, CNO Financial Group continues to focus on delivering value to its customers, agents, and shareholders. The company's latest initiatives include the launch of a Bermuda affiliate to enhance its reinsurance strategy, which further strengthens its operational framework.
Looking ahead, CNO Financial Group is poised for significant growth, driven by a comprehensive product portfolio, an expanding agent base, and a steadfast commitment to serving the financial security needs of middle-income Americans.
CNO Financial Group (NYSE: CNO) has announced three key updates: First, its Board of Directors approved an additional $500 million for share repurchases, adding to the existing $240.3 million remaining capacity as of December 31, 2024. The repurchase program will be implemented through open market purchases, private transactions, or tender offers.
Second, the company declared a quarterly cash dividend of $0.16 per share, payable March 24, 2025, to shareholders of record as of March 10, 2025.
Third, CNO scheduled its annual shareholder meeting for May 8, 2025, at 8:00 a.m. ET, to be held virtually. Shareholders of record as of March 10, 2025, will be able to participate, vote, and submit questions during the virtual meeting.
Bankers Life has announced its 2025 list of Top Women Financial Advisors (TWFA), recognizing 37 top-performing women financial advisors from Bankers Life Securities, Inc. and Bankers Life Advisory Services, Inc. This marks the largest class since the program's inception in 2022.
The recognition is based on specific production and client service criteria that advisors must achieve annually. The company demonstrates its commitment to women in financial services through initiatives like the Women's Leadership and Networking Committee (WLNC), which focuses on mentorship and career development. The WLNC offers various programs including Advancing Financial Advisors, the Superwoman Summit, and the Making Mentors program.
CNO Financial Group reported strong financial results for Q4 and full year 2024. Net income in Q4 2024 reached $166.1 million ($1.58 per diluted share), compared to $36.3 million ($0.32 per share) in Q4 2023. Full-year 2024 net income was $404.0 million ($3.74 per share), up from $276.5 million ($2.40 per share) in 2023.
Key highlights include: 7% increase in total new annualized premiums, 16% growth in Worksite Division NAP, and 13% rise in annuity collected premium. The company returned $349.3 million to shareholders in 2024, a 50% increase from 2023. ROE reached 16.4%, with Operating ROE at 11.9%. The company's statutory risk-based capital ratio was estimated at 383% as of December 31, 2024.
CNO Financial Group (NYSE: CNO) has announced it will release its fourth quarter 2024 financial results after market close on Thursday, February 6, 2025. The company will hold a conference call to discuss the results at 11:00 a.m. Eastern Time on Friday, February 7, 2025.
Investors can participate through two methods: dial-in registration or webcast. For the dial-in option, participants must register in advance to receive call details and a registrant ID. The webcast will be accessible through the Investors section of CNO's website at ir.CNOinc.com, with participants advised to join 15 minutes before the event. A replay of the conference call will be available on the company's investor relations website.
CNO Financial Group (NYSE: CNO) has appointed Joel Koehneman as Chief Accounting Officer, effective January 21, 2025. Koehneman will report to Chief Financial Officer Paul McDonough and brings 16 years of experience from PricewaterhouseCoopers' audit practice, where he specialized in life insurance clients and served as lead Director on two life insurance company audits.
Prior to joining CNO, Koehneman worked as a Finance Director at CDW He holds both bachelor's and master's degrees in accounting from the University of Illinois and is a Certified Public Accountant. He will succeed Michellen Wildin, who will remain with the company until April 1, 2025, to ensure a smooth transition.
CNO Financial Group has announced its Board of Directors' declaration of a quarterly cash dividend of $0.16 per share on common shares. This represents the company's 50th consecutive quarterly dividend payment. The dividend will be paid on December 24, 2024, to shareholders recorded as of December 10, 2024.
The 2024 CNO Financial Indianapolis Monumental Marathon set multiple records with over 16,000 participants from 50 states and 30+ countries. Lindsey Bradley won the women's marathon with a new course record of 2:31:46, breaking the previous record by nearly four minutes. The half marathon saw new records from Chandler Gibbens (1:02:25) and Emma Grace Hurley (1:08:25). The event marked its 12th consecutive sellout and featured the largest marathon field ever with over 5,000 finishers. More than 240 participants ran for various charitable causes through the Run for a Cause program.
CNO Financial Group reported third quarter 2024 results with net income of $9.3 million ($0.09 per diluted share), compared to $167.3 million ($1.46 per diluted share) in 3Q23. Net operating income was $119.2 million ($1.11 per diluted share), up from $101.3 million ($0.88 per diluted share) in 3Q23. The company achieved record annuity collected premiums, with a 25% increase, and reported strong Medicare sales growth. Key highlights include a 15% increase in Medicare Supplement new premiums, 26% growth in Medicare Advantage sales, and agent count increases of 5% and 17% in Consumer and Worksite divisions respectively. The company's statutory risk-based capital ratio was estimated at 388%.
CNO Financial Group (NYSE: CNO) has announced that it will release its third quarter 2024 results after market close on Thursday, October 31, 2024. The company will host a conference call to discuss the results on Friday, November 1, 2024, at 11:00 a.m. Eastern Time.
Investors can participate in the conference call by registering online, which will provide them with call details and a registrant ID. The call will also be broadcast live via webcast through the Investors section of CNO's website at ir.CNOinc.com. Participants are advised to register at least 15 minutes before the event starts.
For those unable to attend the live call, a replay will be available on the company's Investors section of the website.
CNO Financial Group, Inc. (NYSE: CNO) has appointed Jess Turner to its board of directors, effective immediately. Turner, currently serving as Executive Vice President and Global Head of Open Banking and API at Mastercard (NYSE: MA), brings significant fintech, financial services, and management experience to the board. Her appointment increases the CNO board size to nine directors.
Turner's expertise in tech-enabled customer experiences, digital product development, and technology security is expected to contribute to CNO's strategic growth priorities. At Mastercard, she leads the development of new products and technologies for open banking, driving innovation with key partners across the ecosystem. Her previous roles at Mastercard included leading strategy for blockchain, digital assets, crypto, and open banking products.
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