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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.
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