CNO Financial Group reported third‑quarter 2025 results that included net income of $23.1 million and earnings per diluted share of $0.96, beating the consensus estimate of $0.85. Revenue for the quarter rose to $1.188 billion, up 26% from $943.95 million in the same period a year earlier, while net operating income increased to $127.2 million from $119.2 million year‑ago.
Revenue growth was driven by record direct‑to‑consumer and worksite insurance sales. Total new annualized premiums (NAP) increased 26%, with life NAP up 32% and health NAP up 20%. The company’s strategic shift to exit the fee‑services side of its Worksite Division, expected to be substantially complete by mid‑2026, is projected to lift annual pre‑tax income by roughly $20 million.
CNO maintained a robust capital position, reporting a consolidated statutory risk‑based capital ratio of 378% and holding company liquidity of $187.1 million. The firm repurchased $60 million of common stock during the quarter and raised its quarterly dividend to $0.17 per share, returning a total of $76.4 million to shareholders.
The company reaffirmed its 2025 guidance, maintaining an operating earnings per diluted share range of $3.70 to $3.90 and projecting strong cash‑flow generation to support ongoing share repurchases and dividend growth. The 2027 return‑on‑equity target was increased by 50 basis points, reflecting confidence in continued margin expansion and capital efficiency.
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