Carmel-based CNO Financial Group Inc. (NYSE: CNO) is reporting first quarter net income of $45.5 million, down from $52.8 million during the same period last year. Despite the dip, Chief Executive Officer Ed Bonach says the company is encouraged by growth.
"Our earnings were largely in line with seasonal expectations, with cash flow, capital, liquidity and returns to shareholders remaining strong," said Bonach. "Our strategic investment in Tennenbaum Capital Partners is expected to increase non-life investment returns and allow us to more fully utilize our valuable tax assets."
The company is also reporting a 2 percent increase in sales over the first quarter of 2015.