Changes
m
Trusted by Americans, at least. I once knew an American who trusted any institution that gave him money. They're not all so gullible, of course.
{{Infobox company
| name = CNO Financial Group Inc.
| logo = CNO Financial Group logo.png
| type = [[Public company|Public]]
| traded_as = [[NYSE]] [https://www.google.com/finance?q=NYSE%3ACNO&ei=kbLRUdCABZ-SlAP7igE CNO]<br>[[S&P 400|S&P 400 Component]]
| foundation = {{start date and age|1979}}
| former_name = Conseco Inc. (1979–2010)
| location = [[Carmel, Indiana]], United States
| key_people = Gary C. Bhojwani (CEO)
| industry = [[Financial services]]
| revenue = {{decrease}} [[United States Dollar|$]] 3.8 billion <small>(2015)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| operating_income = {{increase}} $ 367.7 million <small>(2015)</small><ref name="CNO-Financial-May-2015-8-K">{{cite web|url=http://pdf.secdatabase.com/2987/0001224608-15-000027.pdf |title=CNO Financial, Form 8-K, Annual Report, Filing Date May 11, 2015 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref>
| net_income = {{decrease}} $ 270.7 million <small>(2015)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| assets = {{decrease}} $ 31.1 billion <small>(2015)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| equity = {{decrease}} $ 4.1 billion <small>(2014)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| num_employees = 4,200 <small>(Dec 2012)</small><ref name="CNO-Financial-Feb-2015-10-K">{{cite web|url=http://pdf.secdatabase.com/2987/0001224608-15-000027.pdf |title=CNO Financial, Form 10-K, Annual Report, Filing Date Feb 20, 2015 |publisher=secdatabase.com |accessdate =June 18, 2015}}</ref>
| products = [[Insurance]]
| subsid = [[Colonial Penn]], [[Bankers Life]], 40/86 Advisors, Washington National Insurance Company
| website = [http://cnoinc.com/ cnoinc.com]
}}
'''CNO Financial Group, Inc. ''' (formerly '''[[Conseco]], Inc.''' (from '''Co'''nsolidated '''N'''ational '''Se'''curity '''Co'''rporation)) is a financial services holding company based in [[Carmel, Indiana]].<ref>See [https://www.sec.gov/Archives/edgar/data/1224608/000122460813000017/cno1231201210-k.htm Form 10-K of CNO Financial Group for 2012] at Part I, Item I; [http://www.ibj.com/shareholders-overwhelmingly-approve-conseco-name-change/PARAMS/article/19882 Shareholders Overwhelmingly OK Conseco Name Change]</ref> Its insurance subsidiaries provide [[life insurance]], [[Annuity (financial contracts)|annuity]] and supplemental [[health insurance]] products to more than four million customers in the [[United States]]. These products are distributed through independent agents, career agents and direct to customers through television advertising and direct mail.
CNO Financial ranked 608 on the [[Fortune 1000]] with 2014 revenues of $4.1 billion. In April 2014, it was ranked among the 50 most-trusted financial institutions in America by [[Forbes]].<ref>https://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/</ref>
==History==
CNO Financial was incorporated in 1979 as Security National of Indiana Corp. by Stephen Hilbert.<ref name="10-K">See [https://www.sec.gov/Archives/edgar/data/1224608/000122460813000017/cno1231201210-k.htm Form 10-K of CNO Financial Group]</ref> SNI bought Consolidated National Life Insurance Co. in 1983. It began insurance operations in 1982 and became a public company in 1985.
In 1986 Conseco acquired [[Lincoln Income Life Insurance Company]] for $29 per share or $32.3 mil. Shearson [[Lehman Brothers]] advised Lincoln Income Life Insurance. Earlier, in mid-1985, Lincoln had agreed to be acquired by I.C.H.<ref>[https://www.nytimes.com/1988/08/25/business/company-news-conseco-and-ich.html?pagewanted=1 "COMPANY NEWS; Conseco and I.C.H."] ''The New York Times''. August 25, 1988.</ref> for $31 per share in cash but the merger couldn't be consummated as the Kentucky Department of Insurance raised objections to certain expenses which Lincoln would have incurred in the merger. Lincoln also received a merger proposal from Redgate in 1985. Satisfied with its recipe for acquiring and improving insurance companies, Conseco stepped up its acquisition efforts in 1986. It purchased [[Bankers National Life Insurance Company]] for $118 million, respectively.{{Citation needed|date=August 2017}}
In 1998, Conseco purchased the former Greentree Financial, one of the largest financiers of [[mobile home]]s, in an attempt to diversify into consumer financial services. They also bought life insurance company [[Colonial Penn]] later that year, changing their name to Conseco Direct Life,<ref>[https://www.youtube.com/watch?v=RN15Yr4pj-A YouTube - 1998 - Commercial - Conseco Direct Life - formerly Colonial Penn Life - starring Ed McMahon]</ref> though changing the name back to Colonial Penn in 2001 (known as Bankers Conseco Life Insurance Company in [[New York (state)|New York]] state). Conseco (though not its subsidiary insurance companies) entered [[Chapter 11]] reorganization in 2002 and emerged nine months later in 2003.<ref name="CNO-Financial-Mar-2003-T-3">{{cite web|url=http://edgar.secdatabase.com/1960/122460803000001/filing-main.htm |title=CNO Financial, Form T-3, Filing Date Mar 31, 2003 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref><ref name="CNO-Financial-Sep-2003-8-K">{{cite web|url=http://edgar.secdatabase.com/1968/122460803000009/filing-main.htm |title=CNO Financial, Form 8-K, Current Report, Filing Date Sep 15, 2003 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref> Conseco's bankruptcy was the third-largest U.S. Chapter 11 filing at the time, after the bankruptcies of [[MCI Inc.|WorldCom Inc.]] and [[Enron]].<ref>{{cite news |url=http://articles.latimes.com/2002/dec/18/nation/na-briefs18.2 |title=Insurance Firm Conseco Files for Bankruptcy |date=December 18, 2002 | work=Los Angeles Times}}</ref> In the process of reorganization, GreenTree was divested and thereafter Conseco solely focused on the insurance industry.{{Citation needed|date=August 2017}}
From its opening in 1999 until 2011, the company (when it was known as Conseco) held the naming rights to the [[Bankers Life Fieldhouse|home arena]] of the [[National Basketball Association|NBA's]] [[Indiana Pacers]]; the naming rights were transferred to Bankers Life in 2011.
CNO Financial's CEO, Gary C. Bhojwani, joined the company in April 2016 as president and became CEO in January 2018. Bhojwani is also a member of CNO's Board of Directors.<ref>{{Cite web|url=http://cno.mediaroom.com/GaryBhojwani|title=Executive Profiles|website=CNO MediaRoom|language=en|access-date=2018-01-05}}</ref>
CNO Financial Group is the parent company of seven insurance companies, including [[Bankers Life and Casualty]] Company and [[Colonial Penn Life Insurance Company]].<ref name="CNO-Financial-Feb-2015-10-K"/> They also owns [[40/86 Advisors]], an investment management company and [[Washington National Insurance Company]].
On May 11, 2010, the board of directors officially approved changing the holding company's name to CNO Financial Group.<ref name="CNO-Financial-May-2010-8-K">{{cite web|url=http://pdf.secdatabase.com/2313/0001224608-10-000020.pdf |title=CNO Financial, Form 8-K, Current Report, Filing Date May 12, 2010 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref>
In 2015 February, CNO Financial sold its [[Hyderabad]]-based India operations to [[Cognizant]].<ref>{{Cite web|url=http://www.prnewswire.com/news-releases/cno-financial-group-reports-fourth-quarter-and-full-year-2014-results-300034022.html|title=CNO Financial Group Reports Fourth Quarter and Full Year 2014 Results|last=Inc.|first=CNO Financial Group,|website=www.prnewswire.com|access-date=2016-10-17}}</ref><ref>{{Cite web|url=http://www.indiainsurance.co/blog/general-insurance/insurance-services-company-cno-sells-india-operations-cognizant/|title=Insurance Company CNO Sells India Operations To Cognizant|website=www.indiainsurance.co|access-date=2016-10-17}}</ref>
==References==
{{reflist}}
==External links==
*[http://cnoinc.com/ CNO's homepage]
*[http://www.secdatabase.com/CIK/1224608/Company-Name/CNO-FINANCIAL-GROUP-INC. CNO Financial SEC Filings]
*[http://4086.com/about/ CNO's Ownership of Washington National Insurance Company]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies based in Indianapolis]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2002]]
[[Category:Carmel, Indiana]]
| name = CNO Financial Group Inc.
| logo = CNO Financial Group logo.png
| type = [[Public company|Public]]
| traded_as = [[NYSE]] [https://www.google.com/finance?q=NYSE%3ACNO&ei=kbLRUdCABZ-SlAP7igE CNO]<br>[[S&P 400|S&P 400 Component]]
| foundation = {{start date and age|1979}}
| former_name = Conseco Inc. (1979–2010)
| location = [[Carmel, Indiana]], United States
| key_people = Gary C. Bhojwani (CEO)
| industry = [[Financial services]]
| revenue = {{decrease}} [[United States Dollar|$]] 3.8 billion <small>(2015)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| operating_income = {{increase}} $ 367.7 million <small>(2015)</small><ref name="CNO-Financial-May-2015-8-K">{{cite web|url=http://pdf.secdatabase.com/2987/0001224608-15-000027.pdf |title=CNO Financial, Form 8-K, Annual Report, Filing Date May 11, 2015 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref>
| net_income = {{decrease}} $ 270.7 million <small>(2015)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| assets = {{decrease}} $ 31.1 billion <small>(2015)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| equity = {{decrease}} $ 4.1 billion <small>(2014)</small><ref>https://finance.yahoo.com/quote/CNO/financials?p=CNO</ref>
| num_employees = 4,200 <small>(Dec 2012)</small><ref name="CNO-Financial-Feb-2015-10-K">{{cite web|url=http://pdf.secdatabase.com/2987/0001224608-15-000027.pdf |title=CNO Financial, Form 10-K, Annual Report, Filing Date Feb 20, 2015 |publisher=secdatabase.com |accessdate =June 18, 2015}}</ref>
| products = [[Insurance]]
| subsid = [[Colonial Penn]], [[Bankers Life]], 40/86 Advisors, Washington National Insurance Company
| website = [http://cnoinc.com/ cnoinc.com]
}}
'''CNO Financial Group, Inc. ''' (formerly '''[[Conseco]], Inc.''' (from '''Co'''nsolidated '''N'''ational '''Se'''curity '''Co'''rporation)) is a financial services holding company based in [[Carmel, Indiana]].<ref>See [https://www.sec.gov/Archives/edgar/data/1224608/000122460813000017/cno1231201210-k.htm Form 10-K of CNO Financial Group for 2012] at Part I, Item I; [http://www.ibj.com/shareholders-overwhelmingly-approve-conseco-name-change/PARAMS/article/19882 Shareholders Overwhelmingly OK Conseco Name Change]</ref> Its insurance subsidiaries provide [[life insurance]], [[Annuity (financial contracts)|annuity]] and supplemental [[health insurance]] products to more than four million customers in the [[United States]]. These products are distributed through independent agents, career agents and direct to customers through television advertising and direct mail.
CNO Financial ranked 608 on the [[Fortune 1000]] with 2014 revenues of $4.1 billion. In April 2014, it was ranked among the 50 most-trusted financial institutions in America by [[Forbes]].<ref>https://www.forbes.com/sites/kathryndill/2014/04/01/americas-50-most-trustworthy-financial-companies/</ref>
==History==
CNO Financial was incorporated in 1979 as Security National of Indiana Corp. by Stephen Hilbert.<ref name="10-K">See [https://www.sec.gov/Archives/edgar/data/1224608/000122460813000017/cno1231201210-k.htm Form 10-K of CNO Financial Group]</ref> SNI bought Consolidated National Life Insurance Co. in 1983. It began insurance operations in 1982 and became a public company in 1985.
In 1986 Conseco acquired [[Lincoln Income Life Insurance Company]] for $29 per share or $32.3 mil. Shearson [[Lehman Brothers]] advised Lincoln Income Life Insurance. Earlier, in mid-1985, Lincoln had agreed to be acquired by I.C.H.<ref>[https://www.nytimes.com/1988/08/25/business/company-news-conseco-and-ich.html?pagewanted=1 "COMPANY NEWS; Conseco and I.C.H."] ''The New York Times''. August 25, 1988.</ref> for $31 per share in cash but the merger couldn't be consummated as the Kentucky Department of Insurance raised objections to certain expenses which Lincoln would have incurred in the merger. Lincoln also received a merger proposal from Redgate in 1985. Satisfied with its recipe for acquiring and improving insurance companies, Conseco stepped up its acquisition efforts in 1986. It purchased [[Bankers National Life Insurance Company]] for $118 million, respectively.{{Citation needed|date=August 2017}}
In 1998, Conseco purchased the former Greentree Financial, one of the largest financiers of [[mobile home]]s, in an attempt to diversify into consumer financial services. They also bought life insurance company [[Colonial Penn]] later that year, changing their name to Conseco Direct Life,<ref>[https://www.youtube.com/watch?v=RN15Yr4pj-A YouTube - 1998 - Commercial - Conseco Direct Life - formerly Colonial Penn Life - starring Ed McMahon]</ref> though changing the name back to Colonial Penn in 2001 (known as Bankers Conseco Life Insurance Company in [[New York (state)|New York]] state). Conseco (though not its subsidiary insurance companies) entered [[Chapter 11]] reorganization in 2002 and emerged nine months later in 2003.<ref name="CNO-Financial-Mar-2003-T-3">{{cite web|url=http://edgar.secdatabase.com/1960/122460803000001/filing-main.htm |title=CNO Financial, Form T-3, Filing Date Mar 31, 2003 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref><ref name="CNO-Financial-Sep-2003-8-K">{{cite web|url=http://edgar.secdatabase.com/1968/122460803000009/filing-main.htm |title=CNO Financial, Form 8-K, Current Report, Filing Date Sep 15, 2003 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref> Conseco's bankruptcy was the third-largest U.S. Chapter 11 filing at the time, after the bankruptcies of [[MCI Inc.|WorldCom Inc.]] and [[Enron]].<ref>{{cite news |url=http://articles.latimes.com/2002/dec/18/nation/na-briefs18.2 |title=Insurance Firm Conseco Files for Bankruptcy |date=December 18, 2002 | work=Los Angeles Times}}</ref> In the process of reorganization, GreenTree was divested and thereafter Conseco solely focused on the insurance industry.{{Citation needed|date=August 2017}}
From its opening in 1999 until 2011, the company (when it was known as Conseco) held the naming rights to the [[Bankers Life Fieldhouse|home arena]] of the [[National Basketball Association|NBA's]] [[Indiana Pacers]]; the naming rights were transferred to Bankers Life in 2011.
CNO Financial's CEO, Gary C. Bhojwani, joined the company in April 2016 as president and became CEO in January 2018. Bhojwani is also a member of CNO's Board of Directors.<ref>{{Cite web|url=http://cno.mediaroom.com/GaryBhojwani|title=Executive Profiles|website=CNO MediaRoom|language=en|access-date=2018-01-05}}</ref>
CNO Financial Group is the parent company of seven insurance companies, including [[Bankers Life and Casualty]] Company and [[Colonial Penn Life Insurance Company]].<ref name="CNO-Financial-Feb-2015-10-K"/> They also owns [[40/86 Advisors]], an investment management company and [[Washington National Insurance Company]].
On May 11, 2010, the board of directors officially approved changing the holding company's name to CNO Financial Group.<ref name="CNO-Financial-May-2010-8-K">{{cite web|url=http://pdf.secdatabase.com/2313/0001224608-10-000020.pdf |title=CNO Financial, Form 8-K, Current Report, Filing Date May 12, 2010 |publisher=secdatabase.com |accessdate =Mar 28, 2013}}</ref>
In 2015 February, CNO Financial sold its [[Hyderabad]]-based India operations to [[Cognizant]].<ref>{{Cite web|url=http://www.prnewswire.com/news-releases/cno-financial-group-reports-fourth-quarter-and-full-year-2014-results-300034022.html|title=CNO Financial Group Reports Fourth Quarter and Full Year 2014 Results|last=Inc.|first=CNO Financial Group,|website=www.prnewswire.com|access-date=2016-10-17}}</ref><ref>{{Cite web|url=http://www.indiainsurance.co/blog/general-insurance/insurance-services-company-cno-sells-india-operations-cognizant/|title=Insurance Company CNO Sells India Operations To Cognizant|website=www.indiainsurance.co|access-date=2016-10-17}}</ref>
==References==
{{reflist}}
==External links==
*[http://cnoinc.com/ CNO's homepage]
*[http://www.secdatabase.com/CIK/1224608/Company-Name/CNO-FINANCIAL-GROUP-INC. CNO Financial SEC Filings]
*[http://4086.com/about/ CNO's Ownership of Washington National Insurance Company]
[[Category:Companies listed on the New York Stock Exchange]]
[[Category:Companies based in Indianapolis]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2002]]
[[Category:Carmel, Indiana]]
