Last €13.53 EUR
Change Today +0.045 / 0.33%
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As of 2:09 AM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

11825 North Pennsylvania Street

Carmel, IN 46032

United States

Phone: 317-817-6100

Fax:

CNO Financial Group, Inc. (CNO), through its subsidiaries, engages in the development, marketing, and administration of health insurance, annuity, individual life insurance, and other insurance products for senior and middle-income markets in the United States. The company’s primary subsidiaries include Bankers Life and Casualty Company (Bankers Life); Washington National Insurance Company (Washington National); and Colonial Penn Life Insurance Company (Colonial Penn). Segments The company’s segments include Bankers Life; Washington National; Colonial Penn; and Other CNO Business. Bankers Life Bankers Life markets and distributes Medicare supplement insurance, interest-sensitive life insurance, traditional life insurance, fixed annuities and long-term care insurance products to the middle-income senior market through a dedicated field force of career agents and sales managers supported by a network of community-based sales offices. The Bankers Life segment includes primarily the business of Bankers Life. Bankers Life also markets and distributes Medicare Advantage plans primarily through distribution arrangements with Humana, Inc. (Humana) and United HealthCare and Medicare Part D prescription drug plans (PDP) primarily through a distribution arrangement with Coventry Health Care (Coventry). Washington National Washington National markets and distributes supplemental health (including specified disease, accident and hospital indemnity insurance products) and life insurance to middle-income consumers at home and at the worksite. These products are marketed through Performance Matters Associates of Texas, Inc. (PMA), a wholly owned subsidiary, and through independent marketing organizations and insurance agencies, including worksite marketing. The products being marketed are underwritten by Washington National. Colonial Penn Colonial Penn markets primarily graded benefit and simplified issue life insurance directly to customers in the senior middle-income market through television advertising, direct mail, the Internet and telemarketing. The Colonial Penn segment includes primarily the business of Colonial Penn. Other CNO Business Other CNO Business consists of blocks of interest-sensitive life insurance, traditional life insurance, annuities, long-term care insurance and other supplemental health products. These blocks of business are not actively marketed and were primarily issued or acquired by Conseco Life Insurance Company and Washington National. Products Medicare Supplement Medicare is a federal health insurance program for disabled persons and seniors (age 65 and older). Part A of the program provides protection against the costs of hospitalization and related hospital and skilled nursing facility care, subject to an initial deductible, related coinsurance amounts and specified maximum benefit levels. The deductible and coinsurance amounts are subject to change each year by the federal government. Part B of Medicare covers doctor's bills and various other medical costs not covered by Part A, subject to deductible and coinsurance amounts for charges approved by Medicare. The deductible amount is subject to change each year by the federal government. Medicare supplement policies provide coverage for many of the hospital and medical expenses which the Medicare program does not cover, such as deductibles, coinsurance costs (in which the insured and Medicare share the costs of medical expenses) and specified losses which exceed the federal program's maximum benefits. The company’s Medicare supplement plans automatically adjust coverage to reflect changes in Medicare benefits. In marketing these products, the company concentrates on individuals who have become eligible for Medicare by reaching the age of 65. Bankers Life sells Medicare supplement insurance. Washington National discontinued new sales of Medicare supplement policies in 2012 to focus on the sale of supplemental health products. Long-Term Care Long-term care products provide coverage, within prescribed limits, for nursing homes, home healthcare, or a combination of both. The company sells the long-term car

 

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Industry Analysis

COS

Industry Average

Valuation COS Industry Range
Price/Earnings 16.7x
Price/Sales 0.9x
Price/Book 0.8x
Price/Cash Flow 7.5x
TEV/Sales NM Not Meaningful
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