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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