CNO Financial Group, Inc.

cnoinc.com

What Do They Do?

Sells annuities, health and life insurance, and financial services to middle-income pre-retirees and retirees, as well as businesses and membership groups.

How Do They Make Money?

FY2025 revenue

Who Are Their Customers?

Individual consumers buy through CNO's agents, independent producers and direct channels, including third-party distributors for direct-to-consumer products. Employers, associations and membership groups are served through the Worksite Division, with sales made at workplaces and virtually.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025.

Operating income, FY2025

12% of revenue

▲ 0% vs FY2024 ($550.8M, 12%)

Net income, FY2025

5% of revenue

▼ −46% vs FY2024 ($420.8M, 9%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ +12%; vs $1.2B in Q2 FY2025
Net income: ▲ +37%; vs $91.8M in Q2 FY2025

Jul 30, 2026 Raised full-year operating earnings per share guidance CNO raised the midpoint of its 2026 operating earnings per share guidance by 8%.

Growing. Revenue grew 9% in 4 years, from $4.1B in FY2021 to $4.5B in FY2025, about 2% a year.

Planned Worksite services exit The older report describes Optavise offering benefits administration technology and advocacy services alongside voluntary benefits; the latest report says CNO plans to exit Worksite fee services and refocus on core insurance.

Who Do They Compete With?

Competes with Northwestern Mutual, Mutual of Omaha, New York Life, United HealthCare, Blue Cross and Blue Shield Plans, Globe Life, TruStage, AAA Life Insurance, Gerber Life, AFLAC, Unum, MetLife, Chubb/Combined, and Voya

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