Q2 2025 CNO Financial Group Inc Earnings Call Transcript
Key Points
- CNO Financial Group Inc (CNO) reported record total new annualized premiums of $120 million, marking a 17% increase.
- The company achieved its 12th consecutive quarter of strong sales momentum and 10th consecutive quarter of growth in producing agent count.
- Operating earnings per diluted share were $0.87, benefiting from favorable insurance product margins and solid investment results.
- Annuity collected premiums hit a new record, surpassing $500 million for the first time in a single quarter, driven by 19% growth.
- CNO Financial Group Inc (CNO) returned $117 million to shareholders in the quarter and $234 million year-to-date, maintaining capital and liquidity above target levels.
- The yield on alternative investments remained below long-term run rate expectations, creating a partial offset to earnings.
- Medicare Advantage policies sold were down in the quarter, although they are up 4% for the year.
- Income from alternative investments was flat year-over-year, generating a return of 6% compared to the long-term expectation of 9% to 10%.
- Fee sales were flat for the quarter, with expectations for improvement in the second half of the year.
- Statutory income was below expectations, driven by lower alternative investment returns and tax reserve fluctuations in fixed indexed annuities.
Hello, everyone, and thank you for joining the CNO Financial Group Second Quarter 2025 Earnings Call. My name is Sami and I'll be coordinating your call today. (Operator Instructions) I would now like to hand over to your host Adam Auvil from CNO to begin. Please go ahead, Adam.
Good morning, and thank you for joining us on CNO Financial Group's Second Quarter 2025 Earnings Conference Call. Today's presentation will include remarks from Gary Bhojwani, Chief Executive Officer; and Paul McDonough, Chief Financial Officer. Following the presentation, we will also have other business leaders available for the question-and-answer period.
During this conference call, we will be referring to information contained in yesterday's press release. You can obtain the release by visiting the Media section of our website at cnoinc.com. This morning's presentation is also available in the Investors section of our website and was filed in a Form 8-K yesterday.
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