Carmel-based CNO Financial to cut 230 employees in restructuring
The company said it expects to reduce its annual spending by about $22 million by the end of 2020 as a result, investing about half of that savings into various technology and growth initiatives.Read More
The insurance company’s executive team is split between three cities that house its major brands. Chicago-bound CFO Paul McDonough will replace Erik Helding, who was based in Carmel.
The Carmel-based insurance holding company said last week that a previously reported third-quarter transaction hurt its full-year financial results.
Carmel-based insurance holding company CNO Financial Group Inc. on Wednesday reported a big third-quarter loss despite sales growth in all three of its business units.
Bankers Life and Casualty, a division of Carmel-based CNO Financial Group, said some of its customers had personal data exposed, including Social Security numbers, driver’s license numbers, bank account numbers and medical information.
Gary Bhojwani's path to the insurance industry started in college, where he earned a bachelor’s degree in actuarial science from the University of Illinois.
At one point this spring, Lilly and three other companies were simultaneously angling to buy AMRO BioSciences.
The Carmel-based insurance holding company profit would have been $101.6 million without the one-time impact of the federal tax reform act.
Ed Bonach became active in the community partly to send a message to the company’s beaten-down workforce that “you don’t have to hang your head about being part of this company. We are doing a lot of good things, and we will be doing more of them.”
The Carmel-based insurance holding company turned a profit of $100.8 million in the period, up from $18.6 million a year ago.
The Carmel-based insurance holding company said total collected premiums were $925 million in the latest quarter, up 7 percent from last year’s second period.
Q&A with Edward Bonach, CEO of CNO Financial Group: “Thankfully, I don’t know if it’s genes or what, but I can usually get by on less sleep than most. Starting early is good for me.”
CNO Financial Group Inc. saw a big increase in profit in the fourth quarter, but not enough to meet Wall Street expectations.
Prosecutors accused Platinum Partners of carrying out a $1 billion fraud that included setting up an affiliate to bamboozle institutional investors—including CNO Financial Group—into investing in the teetering hedge fund.
CNO Financial Group Inc. on Tuesday reported third-quarter results that topped Wall Street expectations despite a 45 percent decline in profit.
CNO Financial Group Inc. said it ended a risk-transfer deal with a reinsurer tied to embattled hedge fund Platinum Partners and has filed suit against executives of Beechwood Re. CNO shares tumbled after the news.
CNO Financial shares dropped 2.8 percent Monday morning after declining 5.5 percent last week. The Carmel-based insurer said last week that it was scrutinizing a risk-transfer arrangement with Beechwood Re, the reinsurer linked to embattled hedge fund Platinum Partners.