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Cno Financial Group, Inc. (CNO) SEC Filing 10-Q Quarterly Report for the period ending Thursday, June 30, 2022

SEC Filings

CNO Quarterly Reports

Cno Financial Group, Inc.

CIK: 1224608 Ticker: CNO

Exhibit 99.1

cnologopra.jpg                            News

For Immediate Release

CNO Financial Group Reports Second Quarter 2022 Results
Strong second quarter with earnings per share up 100% and operating earnings per share up 29%


Carmel, Ind., August 1, 2022 -
CNO Financial Group, Inc. (NYSE: CNO) today announced that for the quarter ended June 30, 2022, net income was $136.1 million, or $1.16 per diluted share, compared to $78.0 million, or $0.58 per diluted share, in 2Q21. Net operating income (1) in 2Q22 was $100.1 million, or $0.85 per diluted share, compared to $89.1 million, or $0.66 per diluted share, in 2Q21.
"CNO posted another quarter of strong earnings," said Gary C. Bhojwani, chief executive officer. "Our annuities, direct-to-consumer and worksite businesses performed well in the quarter. We also saw a sharp increase in new money rates, signaling a positive trend in our earned yields. CNO’s balance sheet is solid, and we remain well-positioned to continue navigating the current economic uncertainty from a position of strength."
Second Quarter 2022 Highlights
Earnings per diluted share of $1.16 in 2Q22, up from $0.58 in 2Q21
Operating (1) EPS of $0.85 in 2Q22, up 29% from 2Q21; up 3% excluding significant items in 2Q22 and 2Q21
Net investment income up 8% from 2Q21
Total new annualized premiums (NAP) (4) down 5% from 2Q21
Direct-to-consumer life insurance NAP (4) up 9% from 2Q21
Worksite Division NAP (4) up 33% from 2Q21
Annuity collected premiums up 26% from 2Q21
Returned $76.5 million to shareholders in the form of share repurchases ($60.0 million) and dividends ($16.5 million); reduced weighted average share count by 12% since 2Q21
Return on equity (ROE) of 10.3%; operating ROE, as adjusted (6), of 11.5%



The following information was filed by Cno Financial Group, Inc. (CNO) on Monday, August 1, 2022 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 (Loss)
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)
Business And Basis Of Presentation
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 Flows
Consolidated Statement Of Cash Flows (Details)
Consolidated Statement Of Cash Flows (Tables)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Basic And Diluted Earnings Per Share (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)
Fair Value Measurements-Changes In Value Of Embedded Derivatives (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 - Schedule Of Amortized Cost, Gross Unrealized Gains And Losses, Estimated Fair Value, And Allowance For Credit Losses (Details)
Investments - Schedule Of Unrealized Appreciation (Depreciation) On Investments Included In Accumulated Other Comprehensive Income (Details)
Investments - Summary Of Carrying Value And Estimated Fair Value Of Outstanding Commercial Mortgage Loans And Underlying Collateral (Details)
Investments - Summary Of Changes In The Allowance For Current Expected Credit Losses (Details)
Investments - Summary Of Changes In The Allowance For Current Expected Credit Losses Related To Mortgage Loans (Details)
Investments - Summary Of Investments By Contractual Maturity (Details)
Investments - Summary Of Investments With Unrealized Losses By Investment Category (Details)
Investments - Total Investment Gains (Losses) (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 - Changes In Allowance (Details)
Investments In Variable Interest Entities - Narrative (Details)
Investments In Variable Interest Entities - Schedule Of Vies (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)
Recently Issued Accounting Standards
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: 0001224608-22-000029
Submitted to the SEC: Fri Aug 05 2022 2:54:22 PM EST
Accepted by the SEC: Fri Aug 05 2022
Period: Thursday, June 30, 2022
Industry: Accident And Health Insurance

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