CNO Financial reports 2022 earnings

Carmel-based CNO Financial Group Inc. (NYSE: CNO) is reporting full-year net income of $397 million, down from $441 million in 2021. CEO Gary Bhojwani says the results reflect ongoing market volatility, moderation in alternative investment returns and one-time actuarial benefits that did not repeat in 2022.

The company is also reporting fourth quarter net income of $43.4 million, compared to $115.8 million during the same period in 2021.

“Absent these factors, we delivered sustainable earnings with strong underlying margins across our product portfolio and rising new money rates supporting investment income results,” said Bhojwani. “As we enter 2023, our sales momentum across the Consumer and Worksite Divisions has us well-positioned for the year ahead.”

In April 2022, CNO acquired a minority interest in Rialto Capital, an investment management company headquartered in Miami.

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