Welcome to our dedicated page for Cno Finl Group news (Ticker: CNO), a resource for investors and traders seeking the latest updates and insights on Cno Finl Group stock.
CNO Financial Group provides life and health insurance, annuities and financial services for middle-income customers through Bankers Life, Colonial Penn, Optavise and Washington National. News about CNO commonly covers quarterly earnings, insurance sales trends, Medicare policy activity, annuity and rider launches, investment results and capital management.
Company updates also include cash dividend actions, annual meeting matters, board changes, consumer research on retirement confidence and community giving programs tied to CNO's corporate and brand activities.
AM Best has upgraded the outlooks for CNO Financial Group, Inc. (CNO) from stable to positive and affirmed its Financial Strength Rating (FSR) of A- and Long-Term Issuer Credit Ratings (ICR) of 'a-'. This reflects CNO's strong balance sheet, characterized by very strong risk-adjusted capitalization and good liquidity. The revised outlook is attributed to positive earnings trends and stable premium and investment income, while the company's diversified product offerings and effective risk management enhance its competitive position.
CNO Financial Group will announce its fourth-quarter 2020 results on February 9, 2021, after market close. A conference call to discuss the results is scheduled for February 10 at 11:00 a.m. ET. Investors can participate via dial-in or online webcast, with registration required for dial-in access. A replay will be available on the company’s investor website. For further details, visit CNOinc.com.
CNO Financial Group, Inc. (NYSE: CNO) announced a public offering of $150 million in 5.125% subordinated debentures due 2060. The offering is set to complete on November 25, 2020, pending customary closing conditions. Interest will be paid quarterly beginning on February 25, 2021. Net proceeds will be used for general corporate purposes. The offering is managed by BofA Securities, RBC Capital Markets, and Wells Fargo Securities. This announcement does not constitute an offer to sell the Debentures in jurisdictions where such an offer would be unlawful.
CNO Financial Group, Inc. (NYSE: CNO) has declared a quarterly cash dividend of $0.12 per share on its common shares. This dividend will be payable on December 24, 2020, to shareholders of record at the close of business on December 10, 2020. This announcement reflects the company's commitment to return value to its shareholders amidst current market conditions.
CNO Financial Group announced the appointment of Steven Shebik as a director and the nomination of Chet Ragavan for election at the annual meeting in May 2021. This brings the board size to 10 directors. Shebik brings extensive experience from his previous roles at Allstate, including vice chair and CEO of Allstate Life Insurance. Ragavan, a former executive at Voya Financial, has significant expertise in risk management and investment strategy. The board also noted the upcoming retirement of Charles Jacklin at the end of his term in May 2021.
Bankers Life, part of CNO Financial Group, announced a new retirement income planning software tool designed to offer personalized guidance to clients, particularly beneficial during current economic challenges. Developed in collaboration with RetireUp, the tool enables wealth management professionals to create tailored retirement plans and facilitates virtual consultations, enhancing client engagement. The software aims to simplify complex financial concepts, offering interactive visuals for better understanding. This initiative aligns with Bankers Life's commitment to improving customer service and financial planning efficiency.
CNO Financial Group reported a significant increase in net income for Q3 2020, reaching $129.2 million or $0.91 per diluted share, compared to $42.0 million or $0.27 per diluted share in Q3 2019. Net operating income also rose to $112.6 million, up 63% year-over-year. The company returned $66.8 million to shareholders through buybacks and dividends. Operating EPS increased 76% to $0.79. CNO's capital remains strong, with a book value of $36.32 per diluted share, up 22% from the previous year.
Fabric, a financial services innovator, has secured $18 million in Series B funding led by CNO Financial Group (NYSE: CNO). This brings its total funding to over $30 million. Fabric plans to enhance its offerings, including modern term life insurance and financial planning tools, aimed at helping families achieve financial security. With a projected 5x growth in term life insurance premiums for 2020, Fabric has expanded to serve tens of thousands of families and introduced new products like 529 college savings and rainy-day savings funds to support parents.
CNO Financial Group, Inc. (NYSE: CNO) will announce its third quarter 2020 earnings after market close on November 2, 2020. A conference call to discuss these results is scheduled for 11:00 a.m. ET on November 3, 2020. Investors can join the call by registering online to receive participation details and can also access a live webcast through the company's Investors section. A replay of the call will be available on the same website.
CNO Financial Group announced that its chairman, Dan Maurer, has been named to the NACD Directorship 100 list for 2020, recognizing him as one of the most influential leaders in corporate governance. Maurer has served on CNO's board since May 2015 and as chairman since May 2018. CEO Gary Bhojwani praised Maurer's leadership, especially during the challenges posed by COVID-19. The NACD Directorship 100 honors corporate directors and governance advocates who exemplify effective governance. Honorees will be featured in an upcoming issue of NACD Directorship magazine.