Cno Financial Group . 5.125 Stock Earnings Reports

CNO reported a strong Q2 2025 driven by record sales and continued distribution momentum. Total new annualized premiums (NAP) hit $120 million (up 17% YoY) and annuity collected premiums set a new quarterly record, surpassing $500 million (up 19%). Operating earnings per diluted share were $0.87, and insurance product margins benefited from rising book yields and favorable claims experience across most products. New money rates have exceeded 6% for 10 consecutive quarters and book yield and invested assets grew for the 12th straight quarter, while alternative investment returns (6%) remain below the long-term target (9–10%). The company returned $117 million to shareholders in the quarter via buybacks (reducing diluted shares by ~8%) and ended the quarter with a consolidated RBC of 378% and Holdco liquidity of $187 million. Management reaffirmed full-year guidance (with a slight tightening to the expense ratio upper bound to 19.2%) and reiterated a run-rate operating ROE target of ~10.5% for 2025 and a 3-year target of 11.5% for 2027. Business highlights include double-digit growth across Consumer and Worksite divisions, strong direct-to-consumer digital growth (web/digital ~1/3 of D2C sales, +39% YoY), improving agent productivity and recruiting, targeted rate filings for Medicare Supplement (~10% average requested), and ongoing investments in technology and distribution to sustain long-term middle‑income market penetration.