CNO Financial Group Receives Excellent Ratings from AM Best

AM Best has reaffirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Ratings of "a" (Excellent) for CNO Financial Group, Inc.'s life and health insurance units, collectively known as CNO Financial Group. These ratings, maintained with a stable outlook, reflect AM Best's confidence in CNO's robust balance sheet and favorable operating performance.

CNO’s balance sheet is characterized as very strong by AM Best, supported by impressive premium growth and diversified income streams that contribute to steady earnings across its business lines. The company offers a wide range of products through its comprehensive distribution network, covering retirement, life, health, and accident insurance. Liquidity and a capable investment portfolio further reinforce its financial stability.

However, challenges arise from the capital strain due to rapid business expansion. CNO has strategically utilized reinsurance, transferring some risks to its Bermuda-based captive, CNO Bermuda Re Ltd., to manage these pressures. Operating in highly competitive markets, CNO remains a strong player across all segments.

Affirmed Ratings and Outlook

• Bankers Life and Casualty Company
• Colonial Penn Life Insurance Company
• Bankers Conseco Life Insurance Company
• Washington National Insurance Company

Debt Ratings with Stable Outlook

• "bbb" on $500 million 5.25% senior unsecured notes, due 2029
• "bbb" on $700 million 6.45% senior unsecured notes, due 2034
• "bbb-" on $150 million 5.125% subordinated debentures, due 2060

For comprehensive details on these ratings and associated disclosures, reference AM Best’s Recent Rating Activity web page. Further information on rating usage and guidelines is available in AM Best’s publications, emphasizing their role as a key analytics provider in the insurance sector with global operations spanning various major cities.