CARMEL, Ind., Aug. 26, 2015 /PRNewswire/ -- A.M. Best Company,
the global rating agency for the insurance industry, has upgraded
the financial strength rating of CNO Financial Group and its
subsidiaries from B++ (Good) to A- (Excellent).
CNO Financial Group is the holding company for several national
life and health insurers including Bankers Life and Casualty
Company, Colonial Penn Life Insurance Company and Washington
National Insurance Company.
A.M. Best stated that "the ratings upgrades reflect the
continuing growth trends in CNO Financial's risk-adjusted
capitalization and favorable operating earnings. In addition, A.M.
Best acknowledges the company's execution of its strategic business
plan, which included exiting/de-emphasizing non-core product lines
through divestiture and reinsurance, as well as a recapitalization
of its debt structure. CNO Financial's favorable operating results
have been attributable to the growth in revenue in its life/health
insurance subsidiaries, as well as its ongoing expense
management."
"We are very pleased that A.M. Best recognizes CNO's financial
strength, stability of earnings, and the high quality of our
business model," said Ed Bonach, CEO
of CNO. "This upgrade represents another significant
milestone for the company, and is the result of our focused
execution and ability to reduce the risk profile of the company,
while achieving profitable growth."
A.M. Best ratings are based on a comprehensive quantitative and
qualitative evaluation of a company's balance sheet strength,
operating performance and business profile. For more information,
refer to the A.M. Best press release.
About CNO Financial Group
CNO Financial Group, Inc.
(NYSE: CNO) is a holding company. Our insurance subsidiaries –
principally Bankers Life and Casualty Company, Colonial Penn Life
Insurance Company and Washington National Insurance Company –
primarily serve middle-income pre-retiree and retired Americans by
helping them protect against financial adversity and provide for a
more secure retirement. For more information, visit CNO online at
www.CNOinc.com.
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SOURCE CNO Financial Group, Inc.