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CNO FINANCIAL GROUP For Immediate Release News CNO Financial Group Reports First Quarter 2021 Results Solid first quarter earnings ; sales momentum returning to pre - pandemic levels ; completed $ 100 million in share repurchases Carmel , Ind . , April 28 , 2021 - CNO Financial Group , Inc. ( NYSE : CNO ) today announced that for the quarter ending March 31 , 2021 , net income was $ 147.4 million , or $ 1.08 per diluted share , compared to a net loss of $ 21.2 million , or $ 0.15 per diluted share , in 1Q20 . Net operating income ( 1 ) in 1Q21 was $ 75.2 million , or $ 0.55 per diluted share , compared to $ 84.3 million , or $ 0.58 per diluted share , in 1Q20 . " CNO delivered another solid quarter , reflecting our continued ability to successfully navigate the pandemic from a position of strength , " said Gary C. Bhojwani , chief executive officer . " Our performance throughout the challenges of COVID demonstrate the value of our diversified model . Within our Consumer Division , we generated record life sales and we are approaching pre - pandemic levels of growth in our annuities and broker - dealer client assets . Worksite sales continue to rebound , as expected , as workplaces reopen . " " We repurchased $ 100 million in stock in the first quarter and completed the DirectPath acquisition , while maintaining a strong capital and liquidity position , " added Bhojwani . " As we look forward to a world beyond COVID , we see significant long - term opportunities to continue serving our existing clients , grow our business within the middle market and deliver value to our shareholders . " First Quarter 2021 Highlights • Earnings ( loss ) per diluted share of $ 1.08 in 1Q21 compared to ( $ 0.15 ) in 1Q20 • Operating ( 1 ) EPS of $ 0.55 in 1Q21 compared to $ 0.58 in 1Q20 • • • Life new annualized premiums ( " NAP " ) ( 4 ) up a record 29 % from 1Q20 ; direct - to - consumer NAP ( 4 ) up 38 % from 1Q20 Insurance product margin up 10 % from 1Q20 ; favorably impacted by health care deferrals Book value per share was $ 36.75 , up 40 % from 1Q20 ; book value per diluted share , excluding accumulated other comprehensive income ( 2 ) , was $ 24.83 , up 13 % from 1Q20 Returned $ 116.3 million to shareholders in the form of share repurchases ( $ 100.0 million ) and dividends ( $ 16.3 million ) ; reduced weighted average share count by 6 % since 1Q20 • Generated return on equity ( ROE ) of 9.6 % ; operating ROE , as adjusted ( 6 ) , of 12.3 % • Completed the acquisition of DirectPath , LLC , a leading national provider of employee benefits management services to employers and employees ( Read press release here )