Carmel-based CNO Financial Group Inc. (NYSE: CNO) is reporting a drop in both full-year and fourth-quarter net income from the previous reporting periods.
The company says Q4 net income came in at approximately $112 million, compared to $278 million during the same period a year ago. For the full year, net income registered approximately $302 million, down from $409 million the previous year.
CNO also announced it has completed the $50 million acquisition of DirectPath LLC, an Alabama-based employee benefits management firm.
The company says DirectPath technology helps employees make informed benefit decisions through education and communication programs.
“With this acquisition, we are extending our worksite business to significantly broaden our solutions portfolio, technology capabilities and distribution reach for the post-COVID workplace environment,” said Gary Bhojwani, chief executive officer.
To read the full earnings report, click here.