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Cno Financial Group, Inc. (CNO) SEC Filing 10-Q Quarterly report for the period ending Monday, September 30, 2019

Cno Financial Group, Inc.

CIK: 1224608 Ticker: CNO

CNO Financial (1)
November 5, 2019


Exhibit 99.1
cnologopr.jpgNews


For Immediate Release


CNO Financial Group Reports Third Quarter 2019 Results
Fifth consecutive quarter of year-over-year premium growth

Carmel, Ind., November 5, 2019 - CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ending September 30, 2019, net income was $0.27 per diluted share, compared to a net loss of $3.22 per diluted share in 3Q18. CNO also reported that 3Q19 net operating income (1) was $0.45 per diluted share, compared to $0.52 in 3Q18 (as adjusted to remove the earnings from the long-term care business that was ceded in 3Q18).

"CNO again delivered strong production results across all three of our businesses, driven by growth in our accumulation products and improving health sales," said Gary C. Bhojwani, chief executive officer. "Our capital position remains strong and we repurchased $75 million in stock in the quarter."

"While our underlying business fundamentals are solid, earnings were challenged by the low interest rate environment. Lower overall yields, compressed spreads, and the impact from our 1Q19 up-in-quality portfolio repositioning reduced our earnings per diluted share by $0.08 (8) relative to 3Q18. In response, we continue to pursue opportunities to drive efficiencies and optimize our cost structure."


Highlights

First-year collected premiums were up 16% from 3Q18

Annuity collected premiums were up 20% from 3Q18

Life and health sales were up 3% from 3Q18

All benefit ratios were within provided guidance

Returned $92.1 million to shareholders in the form of share repurchases ($75.3 million) and dividends ($16.8 million)

At September 30, 2019, book value per common share was $29.92 and book value per diluted share, excluding accumulated other comprehensive income (2), was $20.30

Entered into a strategic technology partnership expected to deliver $20 million in savings over five years



The following information was filed by Cno Financial Group, Inc. (CNO) on Tuesday, November 5, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Cno Financial Group, Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Cover Page
Consolidated Balance Sheet
Consolidated Balance Sheet (Parenthetical)
Consolidated Statement Of Cash Flows
Consolidated Statement Of Comprehensive Income
Consolidated Statement Of Operations
Consolidated Statement Of Shareholders' Equity
Consolidated Statement Of Shareholders' Equity (Parenthetical)
Accounting For Derivatives
Accounting For Derivatives (Tables)
Accounting For Derivatives - Derivatives With Master Netting Arrangements (Details)
Accounting For Derivatives - Fair Value By Balance Sheet Location (Details)
Accounting For Derivatives - Narrative (Details)
Accounting For Derivatives - Schedule Pre-Tax Gains (Losses) Recognized In Net Income For Derivative Instruments (Details)
Acquisition Of Web Benefits Design Corporation
Acquisition Of Web Benefits Design Corporation (Details)
Acquisition Of Web Benefits Design Corporation (Tables)
Business And Basis Of Presentation
Business And Basis Of Presentation (Details)
Business And Basis Of Presentation (Policies)
Business Segments
Business Segments (Details)
Business Segments (Tables)
Changes In Common Stock
Changes In Common Stock (Details)
Consolidated Statement Of Cash Flow
Consolidated Statement Of Cash Flow (Details)
Consolidated Statement Of Cash Flow (Tables)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Narrative (Details)
Earnings Per Share - Schedule Of Earnings Per Share Reconciliation (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Balance Sheet Recurring (Details)
Fair Value Measurements - Fair Value Activity (Details)
Fair Value Measurements - Fair Value Inputs (Details)
Fair Value Measurements - Measurements By Input Level (Details)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Recurring Basis (Details)
Income Taxes
Income Taxes (Tables)
Income Taxes - Components Of Tax Expense (Benefit) (Details)
Income Taxes - Deferred Assets And Liabilities (Details)
Income Taxes - Narrative (Details)
Income Taxes - Net Operating Losses (Details)
Income Taxes - Reconciliation Of Corporate Tax Rate (Details)
Investment Borrowings
Investment Borrowings (Tables)
Investment Borrowings - Narrative (Details)
Investment Borrowings - Terms Of The Borrowings From The Fhlb (Details)
Investments
Investments (Tables)
Investments - Narrative (Details)
Investments - Net Realized Investment Gains (Losses) (Details)
Investments - Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, Estimated Fair Value, And Other-Than-Temporary Impairments (Details)
Investments - Schedule Of Other Than Temporary Impairment (Details)
Investments - Schedule Of Unrealized Appreciation (Depreciation) On Investments Included In Accumulated Other Comprehensive Income (Details)
Investments - Summary Of Investments By Contractual Maturity (Details)
Investments - Summary Of Investments With Unrealized Losses By Investment Category (Details)
Investments In Variable Interest Entities
Investments In Variable Interest Entities (Tables)
Investments In Variable Interest Entities - Balance Sheet Items (Details)
Investments In Variable Interest Entities - Narrative (Details)
Investments In Variable Interest Entities - Schedule Of Vies (Details)
Leases
Leases (Tables)
Leases - Information Related To Right To Use Assets (Details)
Leases - Maturities Of Operating Lease Liabilities (Details)
Leases - Maturities Of Operating Lease Liabilities Prior To Adoption Of New Lease Guidance (Details)
Leases - Weighted Average Information (Details)
Litigation And Other Legal Proceedings
Litigation And Other Legal Proceedings (Details)
Notes Payable - Direct Corporate Obligations
Notes Payable - Direct Corporate Obligations (Tables)
Notes Payable - Direct Corporate Obligations - Narrative (Details)
Notes Payable - Direct Corporate Obligations - Schedule Of Long-Term Debt Instruments (Details)
Notes Payable - Direct Corporate Obligations - Scheduled Repayment (Details)
Recently Issued Accounting Standards
Recently Issued Accounting Standards (Tables)
Recently Issued Accounting Standards - Impact Of Adoption (Details)
Recently Issued Accounting Standards - Narrative (Details)
Reinsurance
Reinsurance (Details)
Sales Inducements
Sales Inducements (Details)

Material Contracts, Statements, Certifications & more

Cno Financial Group, Inc. provided additional information to their SEC Filing as exhibits

Ticker: CNO
CIK: 1224608
Form Type: 10-Q Quarterly Report
Accession Number: 0001224608-19-000055
Submitted to the SEC: Wed Nov 06 2019 11:17:33 AM EST
Accepted by the SEC: Wed Nov 06 2019
Period: Monday, September 30, 2019
Industry: Accident And Health Insurance

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