CNO Financial Group Inc Review 2019: CNO Financial Group Inc. is a financial service holding company. Its insurance subsidiaries provide life insurance, annuity, and health insurance products to more than four million customers.
CNO financial group has more than 50 operational subsidiaries. These subsidiaries are operational throughout the United States of America. CNO has received many recognitions from multiple business analyzers.
CNO Financial Group Inc Review 2019
Bankers Life – This is one of the top three subsidiaries of CNO, Bankers Life offers options in health and life insurance for people who are nearing retirement. The company was established in 1879. The company has a large agent force and offers home delivery of their products, i.e. people do not need to leave the comforts of their home to buy insurance.
Colonial Penn – A major subsidiary of CNO, Colonial Penn also functions in providing insurance to older people. Compared to Bankers Life, this is a young company, dating back only 60 years. Colonial Penn concentrates on Term and Whole insurance and does not deal in health insurance.
Washington National – Washington national is another major subsidiary of CNO Financial Group. This company also deals with insurance but has a major part in providing saving for education. They provide annuities, life insurance, and supplemental health insurance. The Company was founded in 1923.
Growth and performance – At the end of 2018 CNO reported the following: 4.3 Billion in revenue including 301 million dollars operating income. 1.02 dollars earning per share (diluted). The return to Shareholders over the past five years was 183%. And strong liquidity, in case of market stress. This is a very strong position to have in the insurance industry.
History – The company was originally named Conseco. It was incorporated in 1979 in Indiana. The company began operations in 1983 and went public in 1985. In 1986 they acquired Lincoln Life insurance Company. They also acquired Bankers National insurance the same year.
Bankruptcy – Conseco’s declaration of bankruptcy was USA’s third-largest bankruptcy at the time. The company went through 9 months of reorganization and decided to divest from Greentree and concentrate solely on insurance. After this incident, CNO has recovered well and treads carefully.
Awards and recognitions – CNO were recognized as the world’s best employers by Forbes in 2018. They also won America’s best employers in the 1000 to 5000 section. CNO was recognized as one of the healthiest workplaces in America as well.
High credit rating – All of CNO’s major subsidiaries are rated between A- to BBB+, these are high credit ratings and are used to describe financially sound organizations. Moody’s investor index also rates CNO at A3. This is a high rating overall and Investors are happy with the performance over the last decade.
CNO Financial Group Inc. is a very stable company in today’s date. The company is one of the largest insurance companies in America. They have been recognized by Forbes and rank 608th in the fortune 1000 list. Overall CNO is a great company to invest in. CNO also has a good client service record. CNO is expected to grow at a decent pace in the coming years. (CNO Financial Group Inc Review 2019)