earnings
confidence high
sentiment neutral
materiality 0.70
CNO Financial Q2 net income $0.64/sh, down from $1.99; premiums up 11%
CNO Financial Group, Inc.
2023-Q2 EPS reported
$0.63
revenue$2,028,800,000
- Net operating income of $62.3M ($0.54/diluted) vs $135.1M ($1.15) in 2Q22, down 54%.
- Total new annualized premiums grew 11% to $98.7M; Health NAP up 15%, Life NAP up 8%.
- Medicare Supplement NAP up 29%; Consumer field agent count up 8%, Worksite agents up 32%.
- Book value per diluted share excl AOCI $32.34; statutory RBC ratio 386%; holding co liquidity $176M.
- Health claims pressure expected to moderate in H2; new money rate 6.34%.