CNO Financial Group, a US-based developer of life insurance products, has reported a net income of $73.1m, or $0.26 per diluted share, for the fourth quarter of 2011, compared to $168.2m, or $0.56 per diluted share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 declined to $1.05bn, compared to $1.08bn for the same period a year ago.
Net operating income was $60.1m, up 16%, compared to $51.7m for the same period in the previous year.
The company’s bankers life segment posted pre-tax operating earnings of rose 22% to $87.2m, compared to $71.4m for the same period in the prior year.
For the full year of 2011, the company posted a net income of $382.5m, or $1.31 per diluted share, compared to $284.6m, or $0.99 per diluted share, for the same period in 2010.
CNO Financial CEO Ed Bonach said that the company again delivered positive results with strong earnings growth for both the fourth quarter and full year, as its businesses continued to perform well.
"We were especially pleased with our sales momentum, and that CNO’s key measures of financial strength, including risk-based capital, liquidity, debt-to-total capital and book value, all continued to improve," Bonach said.