CNO Financial Group reported higher third-quarter earnings and raised its 2026 operating earnings per share outlook, with the guidance midpoint 9% above its previous forecast. The insurer also reported continued sales and agent-count growth across its businesses and completed a reinsurance transaction involving Colonial Penn life insurance reserves.
- Earnings: Net income was $161 million, or $1.71 per diluted share. Net operating income was $179 million, or $1.90 per diluted share. Operating EPS rose 47% from a year earlier and was up 43% year to date.
- Actuarial review: Results included a $44.9 million net favorable impact from significant items related to CNO’s comprehensive annual actuarial review. That benefit contributed to both reported net income and net operating income.
- Profitability and book value: Return on equity was 16.4%; operating return on equity, excluding significant items, was 14.1%. Book value was $25.34 per share. Book value per diluted share excluding accumulated other comprehensive loss was $41.29, up 8%.
- Sales and distribution: Total new annualized premiums increased for a 17th consecutive quarter, and asset accumulation products continued to grow. Agent counts also rose for a 15th consecutive quarter in Consumer and a 17th consecutive quarter in Worksite.
- Reinsurance: On October 1, CNO completed its third reinsurance transaction with its wholly owned Bermuda affiliate. The affiliate took on approximately $270 million of statutory reserves for existing Colonial Penn graded-benefit life policies.
The results combine stronger operating earnings and ongoing sales growth with a material favorable contribution from the annual actuarial review. The guidance increase reflects CNO’s higher full-year operating EPS outlook; the reported update did not state the revised per-share guidance range.