Hoosier Companies on 'Most Trusted' ListPosted: Updated:
Three businesses based in Indiana are on a national top 50 list of the "Most Trustworthy Financial Companies." Forbes says it considered high-risk events, bankruptcy risk and U.S. Securities and Exchange Commission actions in putting together the list. More than 8,000 publicly-traded institutions were examined and separated by market cap size.
The Indiana companies on the list are:
Mid Cap Category:
Carmel-based CNO Financial Group Inc. (NYSE: CNO)
Small Cap Category:
Terre Haute-based First Financial Corp. (Nasdaq: THFF)
Warsaw-based Lakeland Financial Corp. (Nasdaq: LKFN)
April 10, 2014
CARMEL, Ind. - CNO Financial Group, Inc. (NYSE: CNO) , the holding company for several national life and health insurers that serve middle-income working Americans and retirees, earned a place on the prestigious Forbes 2014 list of the 50 Most Trustworthy Financial Companies in America.
CNO Financial Group earned a top 50 score for trustworthy conduct over the four quarters of the previous fiscal year.
"We are proud of this ranking that recognizes our responsible governance, transparent reporting and disciplined risk management," said Ed Bonach, CEO of CNO Financial Group. "In recent years, we have focused on reducing our risk profile, while profitably growing the company. We value and work diligently to earn the trust of our stakeholders."
In 2013, CNO Financial Group's stock price rose by nearly 90 percent, well above that of its peers and the industry. Since the beginning of 2012, the company has received seven ratings upgrades from key ratings agencies: Moody's Investors Service, Standard & Poor's, Fitch Ratings and A.M. Best.
To determine the list of the 50 most trustworthy financial institutions, Forbes engaged GMI Ratings to review publicly traded banks and insurance companies in North America. GMI considered factors such as high-risk events, revenue and expense recognition methods, SEC actions and bankruptcy risk to determine "Aggressive Accounting and Governance Risk" (AGR) scores that reflect a company's credibility.
About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) is a holding company. Our insurance subsidiaries – principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company – primarily serve middle-income pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement. For more information, visit CNO online at www.CNOinc.com.
Source: CNO Financial Group Inc.