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Mar 31
CNO Financial Group Q1 2025 Earnings Report
CNO Financial Group reported a solid start to 2025, continuing its track record of growth and improved profitability.
Key Takeaways
CNO Financial Group reported net income of $13.7 million and net operating income of $81.1 million for Q1 2025. The company reaffirmed its full-year 2025 and three-year return on equity guidance, with operating earnings per share excluding significant items up 42% for the quarter.
Net operating income increased by 41% to $81.1 million compared to $57.5 million in 1Q24.
Annuity collected premiums increased by 12%, and client assets in brokerage and advisory were up 16%.
Consumer Division Health new annualized premiums (NAP) rose by 9%, with Medicare Supplement NAP up 24%.
The company returned $116.8 million to shareholders during the quarter.
CNO Financial Group
CNO Financial Group
Forward Guidance
CNO Financial Group reaffirmed its full-year 2025 and three-year return on equity guidance, expressing confidence in its ability to deliver growth and improve profitability despite macroeconomic uncertainties.
Positive Outlook
- Reaffirmation of full-year 2025 and three-year return on equity guidance.
- Strong 2024 performance provides a solid foundation for 2025.
- Core business areas are performing well, including production and agent force metrics.
- Policyholder persistency, underwriting margin, capital management, and investment management are strong.
- Demographic tailwinds are favorable for the company's business model.
Challenges Ahead
- Visibility into macroeconomic drivers, such as interest rates, is deteriorating.
- Potential for market volatility to impact non-economic accounting results.
- Uncertainty regarding future interest rate movements.
- Risk of changes in fair value of embedded derivative liabilities and market risk benefits.
- Potential for investment losses from sales, impairments, and changes in allowance for credit losses.