Compelo Insurance is using cookies

We use them to give you the best experience. If you continue using our website, we'll assume that you are happy to receive all cookies on this website.

ContinueLearn More
Close
Dismiss

CNO Financial Q4 net income soars

CNO Financial Group, a US based insurance holding company, has reported a net income of $168.2m, or $0.56 per diluted share for the fourth quarter of 2010, compared to $18.2m or $0.09 per diluted share for the same quarter of 2009.

Net operating income was $51.7m for the fourth quarter of 2010, compared to $32.0m in same quarter a year ago.

Total revenue was $1.07bn, compared to $1.05bn in the fourth quarter of 2009.

CNO’s subsidiary Bankers Life reported a pre-tax operating earnings of $71.4m for the fourth quarter of 2010, compared to $84.6m for the same quarter of last year.

Washington National subsidiary posted a pre-tax operating earnings of $28.7m in the fourth quarter of 2010, compared to $23m in the corresponding quarter of 2009.

The Colonial Penn subsidiary reported a pre-tax operating earnings of $5.8m in the fourth quarter of 2010, compared to $5.9m in the same quarter a year ago.

Other CNO business reported a pre-tax operating earnings of $6m in the fourth quarter of 2010, compared to loss of $29.7m in the same quarter of 2009.

For the year 2010, net income was $284.6m, or $0.99 per diluted share, compared to $85.7m, or $0.45 per diluted share for the year 2009.

The group said that during 2010, the improved controls established in 2009 continued to operate effectively and, as a result, the previous material weakness no longer existed as of 31 December 2010.