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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowCNO Financial Group Inc. on Tuesday announced improved profit and revenue in the fourth quarter.
The Carmel-based insurance company reported profit of $106 million, or 47 cents per share, up from $101.2 million, or 41 cents per share, in the same quarter of 2012.
Revenue increased to $1.16 billion from $1.06 billion.
Operating earnings for the quarter were $75.4 million, or 33 cents per share, exceeding the expectations of 10 analysts polled by Thomson Reuters by 4 cents per share.
On a yearly basis, CNO had a profit of $478 million, or $2.06 per share, in 2013, compared with $221 million, or 83 cents per share, in 2012. Revenue rose to $4.47 billion from $4.34 billion
CNO health and life insurance subsidiary Washington National reported sales from new premiums of $26.2 million in the fourth quarter, up 15 percent from the previous year.
Life insurance unit Colonial Penn had sales from new premiums of $14 million in the fourth quarter, up 3 percent from the previous year.
CNO shares closed at $17.28 Tuesday prior to the earnings announcement, up 26 cents on the day.
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