earnings
confidence high
sentiment positive
materiality 0.75
CNO Financial Q3 net operating income $101.3M, up 30% YoY; new annualized premiums +13%
CNO Financial Group, Inc.
2023-Q3 EPS reported
$2.08
revenue$2,976,300,000
- Net income $167.3M ($1.46/diluted) vs $175.9M; net operating income $101.3M ($0.88) vs $77.9M.
- Total new annualized premiums $98.3M, +13% YoY; Health NAP +14%, Life NAP +11%.
- Book value per diluted share ex-AOCI $33.75, up from $31.91 a year ago; ROE 14.5%.
- Established Bermuda affiliate to reinsure ~$6.2B of fixed indexed annuity reserves, effective Oct 1, 2023.
- Returned $56.9M to shareholders in Q3 ($40M share repurchases, $16.9M dividends); RBC ratio 392%.