Key drivers of strategy to enhance Onex’ enterprise value through Convex ownership and increased profitability at Onex’ asset management platformAll amounts in U.S. dollars unless otherwise stated TORONTO, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Onex Corporation (TSX: ONEX) today announced the completion of its previously announced acquisition of Convex Group Limited (“Convex”), a leading specialty property and casualty insurance and reinsurance company. “This is a pivotal moment in Onex’ history and the addition ...

Core Insights - CNO Financial Group, Inc. reported fourth-quarter 2025 adjusted earnings per share (EPS) of $1.47, exceeding the Zacks Consensus Estimate by 22.5% and increasing from $1.31 a year ago [1][9] - Operating revenues reached $1.2 billion, a 2.6% year-over-year increase, surpassing the consensus mark by 17.7% [1][9] Financial Performance - Total insurance policy income rose 2.9% year over year to $662.2 million, beating the Zacks Consensus Estimate of $655.4 million, driven by improved collected premiums from annuity, life, and health products [3] - Collected premiums from annuity, health, and life products totaled $1.2 billion, reflecting a 3.4% year-over-year increase, with annuity premiums at $508.3 million (up 3.1%), health premiums at $435.7 million (up 3.8%), and life premiums at $247.6 million (up 3.3%) [5][6] - New annualized premiums for health products surged 30.7% year over year, while life products increased by 0.9% [6] Expenses and Losses - Total benefits and expenses escalated 19.3% year over year to $1 billion, attributed to higher insurance policy benefits and operating costs [6][9] - Net investment losses narrowed to $25.2 million from $35.1 million in the prior-year quarter [4] Financial Position - As of December 31, 2025, CNO Financial had unrestricted cash and cash equivalents of $956.1 million, down 42.3% from the end of 2024 [7] - Total assets increased by 2.5% year over year to $38.8 billion, while total shareholders' equity grew 4.9% to $2.6 billion [7] - Book value per common share rose 12.8% to $27.92 [8] Shareholder Returns - CNO Financial returned $60 million to shareholders through share buybacks and $16.2 million in dividends during the fourth quarter [10] Future Guidance - For 2026, CNO anticipates operating EPS in the range of $4.25-$4.45, indicating a 1.1% decline from the 2025 figure of $4.40 [11] - The company estimates excess cash flow of $200-$250 million and projects an expense ratio between 18.8-19.2% for 2026 [11]

Core Insights - The introduction of the Ensight™ Sales Stories tool aims to enhance client understanding of the financial benefits of fixed index annuities (FIAs) in retirement planning [1][4] - The tool generates personalized content that addresses client concerns and provides comparisons of retirement outcomes with and without annuities [1][3] Company Overview - Allianz Life Insurance Company of North America has been a trusted provider of financial solutions since 1896, focusing on risk management and retirement planning [5] - In 2024, Allianz Life distributed over $18.6 billion to its policyholders, reinforcing its position as a leading provider of fixed index annuities and related products [5] - Allianz Life is part of Allianz SE, a global financial services leader with a workforce of over 157,000 employees across nearly 70 countries [5] Product and Service Details - The Ensight™ platform serves over 500 distributors and thousands of financial professionals, enhancing sales growth and productivity throughout the sales lifecycle [6] - The tool specifically addresses concerns such as running out of money, inflation, tax implications, flexibility, and healthcare costs in retirement [3]

Core Viewpoint - American International Group, Inc. (AIG) is expected to report its fourth-quarter 2025 results on February 10, 2026, with earnings estimated at $1.89 per share and revenues of $7.1 billion [1][7]. Earnings Estimates - The earnings estimate for the fourth quarter indicates a year-over-year increase of 45.4%, while the revenue estimate suggests a growth of 3.7% year-over-year [2]. - For the full year 2025, the revenue estimate is $27.4 billion, with earnings per share projected at $7.02, reflecting a 41.8% year-over-year increase [3]. Earnings Prediction Model - AIG is predicted to beat earnings estimates due to a positive Earnings ESP of +0.39% and a Zacks Rank of 3 (Hold) [4]. Revenue Drivers - The General Insurance business is expected to significantly contribute to AIG's revenues, with a projected 19.8% year-over-year increase in net investment income [6][7]. - The adjusted pre-tax income in General Insurance is estimated at $1.5 billion, indicating a 20.4% growth from the prior year [6]. Margin and Premiums Outlook - The consensus for the combined ratio is 89.8%, improving from 95.8% a year ago [8]. - However, net premiums earned in General Insurance are expected to decline by 0.7% year-over-year, with a projected figure of $5.9 billion [8].

Insurance stocks are quietly outperforming, delivering steady gains as volatility rattles much of the broader market. Nestled within the broader financial sector, the group is flexing its muscles. Topics Memberships This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. Insuran ...

Core Viewpoint - Insurance stocks are showing resilience and outperforming the broader market, gaining 6% over the past three months as volatility affects other sectors [1]. Group 1: Performance of Insurance Stocks - The iShares U.S. Insurance exchange-traded fund has increased by 6% in the last three months, indicating strong performance amidst market turbulence [1]. - Insurance stocks are characterized as "boring" but are proving to be a stable investment option during volatile market conditions [1]. Group 2: Market Context - The broader financial sector is experiencing significant volatility, yet insurance stocks are managing to deliver steady gains [1]. - The performance of insurance stocks suggests a potential shift in investor preference towards more stable and less volatile sectors during uncertain market times [1].

Core Insights - The article emphasizes the importance of securing affordable and comprehensive auto insurance for teen drivers due to their higher risk of accidents, which leads to elevated premiums [1][2]. Group 1: Insurance Providers Analysis - The Hartford is rated the best for teen drivers with a score of 5.0 stars, offering budget-friendly pricing and numerous discounts, including a mobile app rated 4.7 out of 5 [3][7][27]. - American Family follows closely with a score of 4.9 stars, providing solid coverage options and the second-lowest rates at $239 per month, along with discounts for good students and generational discounts [8][12][27]. - Farmers is rated 4.4 stars, offering reasonable pricing and various discounts, with an average cost of $239 per month, but has limited availability in the U.S. [10][12][27]. - Safeco, rated 4.3 stars, provides discounts for new teen drivers and has an average cost of $315 per month, though it does not offer a discount for driver education courses [16][18][20][27]. - Travelers, also rated 4.3 stars, offers competitive discounts and customizable coverage, with an average cost of $299 per month [21][26][27]. Group 2: Discounts and Coverage Options - Common discounts for teen drivers include good student discounts, driver education discounts, and student away discounts, which can significantly lower premiums [28][30][45]. - Additional discounts vary by insurer, with options like youthful driver discounts and shared family car discounts available from Farmers and American Family [30][28]. - Recommended coverage for teen drivers includes full coverage policies with higher liability limits, collision, and comprehensive coverage to protect against various risks [33][34][40]. Group 3: Methodology and Evaluation - The evaluation of the best auto insurance companies for teen drivers was based on factors such as pricing, teen-specific discounts, claims performance, and digital experience [46][48]. - The scoring system weighted teen rates at 40%, teen-focused discounts at 35%, protective add-on coverage at 15%, claims handling performance at 5%, and digital experience at 5% [48][49][50].

Core Insights - Unum Group's fourth-quarter 2025 operating net income of $1.92 per share missed the Zacks Consensus Estimate by 9% and decreased 5.4% year over year [2] - The company's total operating revenues were $3.2 billion, nearly flat year over year, and missed the Zacks Consensus Estimate by 1.1% [3] Operational Update - Premiums increased by 2% year over year to $2.7 billion, matching estimates, while total benefits and expenses rose 8% year over year to $3 billion, primarily due to higher policy benefits and commissions [3] - The benefit ratio, excluding reserve assumption updates, was 77.9%, deteriorating by 580 basis points due to unfavorable experiences in group long-term disability products [6][9] Quarterly Segment Update - Unum U.S. reported premium income of $1.7 billion, up 1.6% year over year, but adjusted operating income declined 13.1% to $289.7 million, missing estimates [4] - Unum International's premium income increased by 17.1% year over year to $283.9 million, but adjusted operating income fell by 11.7% to $37.6 million [5] Full-Year Highlights - For the full year, operating net income was $8.13 per share, missing the Zacks Consensus Estimate of $8.31, while revenues increased by 2% to $13.2 billion, in line with estimates [12] Capital Management - As of December 31, 2025, the weighted average risk-based capital ratio for Unum Group's traditional U.S. insurance companies was approximately 440%, with holding company liquidity at $2.3 billion [13] - Book value per share grew by 9.3% year over year to $67.11, and the company repurchased shares worth $1 billion [13] 2026 Outlook - Premium growth is expected to be between 4% and 7%, with adjusted operating income per share projected to be between $8.60 and $8.90, indicating growth of about 8% to 12% [14]

Financial Data and Key Metrics Changes - CNO Financial Group achieved an operating return on equity of 11.4% for 2025, an improvement from 10% in 2024, and is on track to reach a target of 12% by 2027 [14][19] - Operating earnings per diluted share increased by 11% to $4.40, with a full-year operating earnings per share of $4.02, exceeding the high end of original guidance [5][14] - The company returned $386 million to shareholders, marking an 11% increase over 2024, and raised its quarterly common stock dividend for the 13th consecutive year [6][24] Business Line Data and Key Metrics Changes - The consumer division reported a record total new annualized premium (NAP) growth of 15%, with life NAP up 10% and Medicare supplement NAP up 49% for the year [8][9] - The worksite division also achieved record insurance sales, up 15% for the full year, with life insurance sales increasing by 36% [11][12] - Overall, the company experienced its 14th consecutive quarter of sales growth and 12th consecutive quarter of growth in producing agent count [4][8] Market Data and Key Metrics Changes - Total health NAP increased by 22%, marking 14 consecutive quarters of growth, while Medicare Advantage policies sold decreased by 3% for the year [9][10] - The company holds over $18 billion in client assets, up 11% from 2024, reflecting strong growth in brokerage and advisory channels [10][11] - The investment portfolio remains high quality, with 97% rated investment grade and an average rating of single A [18] Company Strategy and Development Direction - CNO Financial Group focuses on the underserved middle-income market, leveraging a last-mile captive agent distribution model as a competitive advantage [5][6] - The company is investing in technology modernization with an expected investment of approximately $170 million over three years, with $20 million deployed in 2025 and $75 million expected in 2026 [22] - The strategic exit from the fee services business within the worksite division is progressing on schedule, expected to be largely complete in the first half of 2026 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the lack of visibility in the operating environment due to economic factors such as layoffs and job numbers, which could impact consumer behavior [28][31] - Despite potential headwinds, the company remains optimistic about the demand for Medicare products, with 11,000 Americans turning 65 each day [10][32] - The outlook for 2026 includes expected operating earnings per share between $4.25 and $4.45, reflecting an 8% increase at the midpoint from 2025 results [20][22] Other Important Information - The effective tax rate on operating income was 20.6% for the year, below the guidance of 22%-22.5%, due to tax strategies implemented in the fourth quarter [14][15] - The consolidated risk-based capital ratio was 380%, within the target range of 360%-390%, providing flexibility for growth and capital deployment [19] Q&A Session Summary Question: Earnings emergence and target returns - Management indicated that the time to hit target returns varies by product, but confidence remains in meeting ROE targets due to strong sales momentum [26][27] Question: Environment impact on recruiting and agent count growth - Management expects to grow producing agent count in 2026, emphasizing productivity over sheer numbers, while acknowledging economic pressures on discretionary purchases [28][30] Question: Sustainability of growth levels - Management believes that while Medicare Advantage sales may decline, Medicare supplement sales will continue to rise due to demographic trends [39][40] Question: Impact of Medicare Advantage distribution fees - Management has reflected expected pressures in Medicare Advantage in their projections, focusing more on Medicare supplement products [42][43] Question: Capital deployment strategy - Management plans to return excess capital to shareholders through share repurchases while being measured in capital deployment [46][47] Question: Investment portfolio exposure to software - The company has a small exposure to software in its investment portfolio, with a focus on mission-critical software [69][70]

Financial Data and Key Metrics Changes - CNO Financial Group achieved an operating return on equity of 11.4%, an improvement from 10% in 2024, and is on track to reach a target of 12% by 2027 [13][19] - Operating earnings per diluted share increased to $4.40, reflecting an 11% growth, with full-year operating earnings per share exceeding guidance at $4.02 [5][13] - The company returned $386 million to shareholders, marking an 11% increase over 2024, and raised its quarterly common stock dividend for the 13th consecutive year [7][23] Business Line Data and Key Metrics Changes - The consumer division reported a record total new annualized premium (NAP) growth of 15%, with life NAP up 10% and Medicare Supplement NAP up 49% for the year [8][9] - The worksite division also saw record insurance sales, up 15% for the full year, with life insurance sales increasing by 36% [11][12] - Overall, the company experienced its 14th consecutive quarter of sales growth across both divisions [4][11] Market Data and Key Metrics Changes - Total health NAP increased by 22%, marking 14 consecutive quarters of growth, while Medicare Advantage policies sold decreased by 3% for the year [9][10] - The company holds over $18 billion in client assets, reflecting an 11% increase from 2024, with brokerage and advisory client assets up 24% [10][11] Company Strategy and Development Direction - CNO Financial Group focuses on the underserved middle-income market, leveraging a last-mile captive agent distribution model as a competitive advantage [5][8] - The company is investing in technology modernization with a planned investment of approximately $170 million over three years, with $20 million deployed in 2025 and $75 million expected in 2026 [21][22] - The strategic exit from the fee services business within the worksite division is progressing on schedule, expected to be completed in the first half of 2026 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed concerns about the lack of visibility in the economic environment, citing potential challenges from layoffs and job market conditions affecting consumer behavior [30][31] - Despite economic pressures, the company remains optimistic about the demand for Medicare products, with 11,000 Americans turning 65 daily, presenting ongoing opportunities [10][32] - The company anticipates continued growth in producing agent count and productivity, emphasizing the importance of agent productivity over mere count [28][29] Other Important Information - The effective tax rate on operating income was 20.6%, below the guidance range, due to tax strategies implemented in the fourth quarter [14] - The company ended the year with a consolidated risk-based capital ratio of 380%, within the target range of 360%-390% [17][18] Q&A Session Summary Question: Earnings emergence and target returns - Management indicated that the time to hit target returns varies by product, but confidence remains high due to strong sales trends [25][26] Question: Environment outlook and agent count growth - Management expects to grow producing agent count in 2026, emphasizing productivity as the primary focus [28][29] Question: Sustainability of growth levels - Management acknowledged potential headwinds but remains comfortable with guidance, expecting continued growth in Medicare Supplement sales [40][42] Question: Impact of Medicare Advantage distribution fees - Management reflected expectations of pressure on Medicare Advantage, focusing more on Medicare Supplement [44] Question: Capital deployment strategy - Management plans to return excess capital to shareholders through share repurchases while being measured in capital deployment [47][48] Question: Investment portfolio exposure to software - Management reported a small exposure to software in the investment portfolio, with a focus on mission-critical software [72][73] Question: Dynamics of turning 65 and product positioning - Management expects the number of individuals turning 65 to remain stable until around 2030, presenting ongoing opportunities for the company [79][81]