CNO Financial reports big earnings gain on higher sales

July 25, 2012

Earnings at Carmel-based CNO Financial Group Inc. jumped 42 percent in the second quarter on higher sales of its insurance products, the company announced Wednesday afternoon.

Profit for the period ended June 30 rose to $65.7 million, or 24 cents per share, compared with $46.4 million, or 16 cents per share, in the second quarter of 2011.

Sales rose 6 percent, to $97.4 million.

Ed Bonach, CNO's chief executive, said in a prepared statement that the company’s focus on the middle income market and seniors, along with the company’s product-distribution system, continue "to yield business growth and persistency that contributed to our second quarter earnings.”

CNO’s principal units are Bankers Life, Washington National and Colonial Penn. All three saw earnings and sales growth.

CNO stock closed down 7 cents at $7.69 per share prior to Wednesday's earnings announcement.


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