CNO Financial Group, Inc (CNO) has reported 36.92 percent jump in profit for the quarter ended Mar. 31, 2017. The company has earned $62.30 million, or $0.36 a share in the quarter, compared with $45.50 million, or $0.25 a share for the same period last year. Revenue during the quarter grew 11.48 percent to $1,070.70 million from $960.40 million in the previous year period. Net premium earned for the quarter increased 3.01 percent or $19.40 million to $663.80 million.
Total expenses move up
Benefits, losses and expenses for the quarter were at $974 million, or 146.73 percent of premium earned from $919.90 million or 142.75 percent of premium earned in the last year period. Operating income for the quarter was $96.70 million, compared with $40.50 million in the previous year period. Net investment income was at $312 million for the quarter, up 7.22 percent or $21 million from year-ago period. Meanwhile, income from fees and commission for the quarter declined 16.90 percent or $2.40 million to $11.80 million. The company has recorded a gain on investments of $7.90 million in the quarter compared with a loss of $0.90 million for the previous year period.
"Our diversified business model continues to perform, expanding CNO’s reach to serve the middle-income market in the U.S.," said Ed Bonach, Chief execuive officer of CNO Financial. "The consistent strength of our balance sheet and disciplined approach to strategy execution again produced revenue growth, solid earnings, excess capital, and shareholder returns."
Total assets stood at $32,427.40million as on Mar. 31, 2017. On the other hand, total liabilities were at $27,820.60 million as on Mar. 31, 2017.
Return on assets was at 0.29 percent in the quarter. At the same time, return on equity was at 1.35 percent in the quarter.
Investments stood at $26,387.90 million as on Mar. 31, 2017. Meanwhile, yield on investments was at 1.18 percent in the quarter.
Total debt was at $2,547.60 million as on Mar. 31, 2017. Shareholders equity was at $4,606.80 million as on Mar. 31, 2017. As a result, debt to equity ratio was at 0.55 percent in the quarter.
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