CNO sees higher profit, revenue in fourth quarter

CNO 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.
 

Please enable JavaScript to view this content.

Story Continues Below

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.