Strong Operating Earnings Growth
Operating earnings per diluted share were $0.79, up 52% year-over-year, and $0.74 up 42% excluding significant items.
Sustained Sales Momentum
CNO delivered its 11th consecutive quarter of strong sales momentum and its ninth consecutive quarter of growth in producing agent count.
Annuity and Brokerage Growth
Annuity collected premiums were up 12%, account values were up 7%, and premium per policy was up 19%. Brokerage and advisory client assets were up 16%.
Medicare Portfolio Success
Medicare Supplement NAP increased by 24%, and Medicare Advantage policies grew by 42%.
Worksite Division Growth
Worksite insurance sales were up 11%, with critical illness insurance up 37% and life insurance up 17%.
Investment Performance
Net investment income grew with a new money rate above 6% for nine consecutive quarters, resulting in an investment income increase of 16% for the quarter.
Capital Management
Returned $117 million to shareholders and repurchased $100 million of shares, contributing to a 7% reduction in weighted average diluted shares outstanding.