QUOTE AND NEWS
SeekingAlpha  Jul 29  Comment 
CNO Financial Group, Inc. (NYSE:CNO) Q2 2014 Results Earnings Conference Call July 29, 2014 11:00 AM ET Executives Erik Helding - Investor Relations Ed Bonach - Chief Executive Officer Scott Perry - Chief Business Officer Fred...
Benzinga  Jun 27  Comment 
In a report published Friday, Morgan Stanley analyst Nigel Dally reiterated an Equal-Weight rating on CNO Financial Group (NYSE: CNO). In the report, Morgan Stanley noted, “CNO provided a robust outlook at today's Investor Day, including...
Market Intelligence Center  Jun 23  Comment 
Conseco Inc. (CNO) presents a trading opportunity that offers a 5.92% return in just 180 days. A covered call on CNO Financial Group at the $17.00 level expiring on Dec. '14 offers an assigned return rate of 5.92% or 12% annualized. This trade...
TheStreet.com  May 1  Comment 
NEW YORK (TheStreet) -- CNO Financial Group Inc. was downgraded to "neutral" from "buy" at Goldman Sachs on Thursday. The firm said it downgraded the holding company's rating based on a valuation call and "significant outperformance and lack...
SeekingAlpha  Apr 28  Comment 
CNO Financial Group, Inc. (CNO) Q1 2014 Earnings Conference Call April 28, 2014 11:00 am ET Executives Ed Bonach – Chief Executive Officer Fred Crawford – Executive Vice President & Chief Financial Officer Scott Perry –...
SeekingAlpha  Apr 1  Comment 
By Ashleigh Rogers: CNO Financial (CNO) is a holding company that owns various insurance companies selling supplemental health insurance, annuities, and individual life insurance. I first covered CNO last fall when I discussed the troubling...
Insurance Journal  Mar 4  Comment 
A.M. Best has commented that the ratings for Bermuda-based Wilton Re Holdings Limited and its insurance subsidiaries remain unchanged following Wilton Re’s recent announcements that it intends to acquire Continental Assurance Company (CAC) from...
SeekingAlpha  Feb 12  Comment 
CNO Financial Group, Inc. (CNO) Q4 2013 Earnings Conference Call February 12, 2014 11:00 AM ET Executives Erik Helding - IR Ed Bonach - CEO Scott Perry - CBO Fred Crawford - CFO Analysts Erik Bass - Citi Randy...
Benzinga  Feb 12  Comment 
In a report published Wednesday, Morgan Stanley analyst Nigel Dally reiterated an Equal-Weight rating on CNO Financial (NYSE: CNO). In the report, Morgan Stanley noted, “The core thesis for CNO has revolved around its initiatives including...




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CNO Financial Group, Inc. (NYSE: CNO), formerly Conseco, emerged from bankruptcy in 2003, after which it has focused on insurance. It relies heavily on its Medicare, fixed-annuities, and long-term care operations, but also provides life insurance and disease-specific insurance. Its clients are primarily middle-class citizens and the elderly. In order to target these groups, Conesco uses a combination of direct marketing, independent distributors, and career agents.

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Trends and Forces

Inadequate reserve for policy benefits

Inadequate reserves for expected future policy benefits might be higher than expected, which could result in decreased net income and stockholders’ equity. Conesco calculates its reserves using historical data. Discrepancies between past claims and future claims may result in insufficient reserves. Faster-than-expected increases in medical costs, obesity, and other unforeseen events and costs may force Conesco to pay the difference from its earnings.

Annuities products are susceptible to changes in interest rates

Its annuities products are highly susceptible to fluctuations in interest rates. An increase in interest rates may cause its annuities holders to invest their money elsewhere. A decrease in interest rates could result in its payments to annuity holders exceeding the investment returns of the annuity. Only 38% of its annuities have variable interest rates, while 47% have fixed interest rates. If a large amount of customers back out of their annuities, Conesco may be forced to sell part of its investment assets in order to cover the loss.

Insurance business restructuring

Conesco’s future will be influenced by its ability to restructure its insurance business. Despite having emerged from bankruptcy in 2003, its insurance business has been plagued with decreased insurance revenues and new annuity premium revenues. In an effort to increase profits, Conesco will be focusing on marketing its higher-margin products and will be decreasing marketing costs for its underperforming products. Conesco’s predecessor owned 44 insurance companies, resulting in unnecessary duplicate administrative positions and systems. In order to remedy this, planning on streamlining administrative tasks and combining paperwork and processing systems for similar products.

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