CNO Financial Group(US:CNO)2025-04-28 20:17Financial Performance - Total revenues for Q1 2025 were $1,004.1 million, a decrease of 13.1% compared to $1,156.5 million in Q1 2024[7] - Net income for Q1 2025 was $13.7 million, significantly lower than $112.3 million in Q1 2024, reflecting a decline of 87.8%[7] - The company reported a total investment income of $375.1 million for Q1 2025, compared to $301.9 million in Q1 2024, marking an increase of 24.2%[7] - Net operating income for 2024 YTD was $429.3 million, with Q4 2024 at $138.0 million[11] - Net income for 2024 YTD reached $404.0 million, with Q4 2024 reporting $166.1 million[9] - Net income for Q4 2024 reached $141.4 million, contributing to a total net income of $176.6 million for the year 2024[28] Assets and Liabilities - Total assets as of March 2025 were $37,436.3 million, a slight decrease from $37,852.6 million in December 2024[5] - Total liabilities decreased to $34,905.8 million in March 2025 from $35,354.2 million in December 2024, a reduction of 1.3%[5] - Policyholder account balances reached $17,346.0 million in March 2025, compared to $17,615.8 million in December 2024, indicating a decline of 1.5%[5] - Future policy benefits liability was reported at $11,773.0 million in March 2025, slightly up from $11,705.5 million in December 2024[5] Insurance Product Performance - Insurance policy income increased to $650.7 million in Q1 2025, up from $628.4 million in Q1 2024, representing a growth of 3.7%[7] - Total insurance product margin for 2024 YTD reached $1,040.0 million, with a quarterly margin of $253.1 million in Q4 2024[9] - Annuity margin for 2024 YTD was $274.2 million, with Q4 2024 showing a margin of $55.0 million[11] - Health margin for 2024 YTD totaled $516.8 million, with Q4 2024 at $130.1 million[11] - Life margin for 2024 YTD was $249.0 million, with Q4 2024 reporting $68.0 million[11] Premiums and Collections - Total collected premiums for 2024 reached $4,378.7 million, with Q4 alone contributing $1,152.5 million, reflecting a steady growth trend[19] - Annuity products collected premiums totaled $1,790.6 million YTD, with fixed indexed annuities showing a quarterly increase from $345.5 million in Q1 to $409.9 million in Q4[19] - Health products collected premiums amounted to $1,627.6 million YTD, with supplemental health premiums remaining stable around $181.4 million to $183.2 million across the quarters[19] - Life products collected premiums totaled $960.5 million YTD, with traditional life premiums consistently around $176.8 million to $181.1 million throughout the quarters[19] Investment Income - Net investment income for Q1 2024 was $469.2 million, with a total of $1,748.8 million year-to-date[31] - Total investment income allocated to health products was $75.1 million in Q1 2025, consistent with Q4 2024[41] - Total investment income allocated to life products was $37.6 million in Q1 2025, compared to $36.5 million in Q1 2024[41] - Investment income not allocated to product lines was $38.0 million in Q1 2025, down from $65.3 million in Q4 2024[41] Future Outlook - The company anticipates continued focus on expanding its insurance product offerings and enhancing customer engagement strategies in the upcoming quarters[6] - The company is focusing on expanding its market presence and enhancing product offerings to drive future growth[20] - The company expects continued growth in annuity issuances, projecting a strong performance in the upcoming quarters[25]