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CNO FINANCIAL GROUP News For Immediate Release CNO Financial Group Reports Second Quarter 2021 Results Strong second quarter results ; total sales exceed pre - pandemic 2019 levels ; $ 87 million in share repurchases Carmel , Ind . , July 28 , 2021 - CNO Financial Group , Inc. ( NYSE : CNO ) today announced that for the quarter ending June 30 , 2021 , net income was $ 78.0 million , or $ 0.58 per diluted share , compared to a net income of $ 82.0 million , or $ 0.57 per diluted share , in 2Q20 . Net operating income ( 1 ) in 2Q21 was $ 89.1 million , or $ 0.66 per diluted share , compared to $ 79.4 million , or $ 0.55 per diluted share , in 2Q20 . " CNO generated strong second quarter results across our businesses , showcasing again the power of our diversified model and the successful execution of our strategic priorities , " said Gary C. Bhojwani , chief executive officer . " Total new annualized premiums increased 35 % over the same period in 2020 and are up 10 % relative to 2019 levels . Our earnings continued to benefit from the deferral of care in our health lines and solid alternative investment results . " " We enter the second half of the year conservatively positioned , " added Bhojwani . " While we cannot predict the quarter - to - quarter impacts of the pandemic , we remain focused on maintaining our growth momentum and managing the business to optimize shareholder value over the long term . " Second Quarter 2021 Highlights • • • Earnings per diluted share of $ 0.58 , up 2 % in 2Q21 compared to $ 0.57 in 2Q20 Operating ( 1 ) EPS of $ 0.66 , up 20 % in 2Q21 compared to $ 0.55 in 2Q20 ; up 60 % excluding significant items in both periods Total new annualized premiums ( " NAP " ) ( 4 ) up 35 % from 2Q20 , up 10 % from 2Q19 • Annuity collected premiums up 42 % from 2Q20 , up 1 % from 2Q19 • • Insurance product margin up 8 % in 2Q21 excluding unlocking in 2Q20 ( as summarized in note 7 ) Book value per share was $ 41.24 , up 24 % from 2Q20 ; book value per diluted share , excluding accumulated other comprehensive income ( 2 ) , was $ 25.30 , up 12 % from 2Q20 Returned $ 104.8 million to shareholders in the form of share repurchases ( $ 87.4 million ) and dividends ( $ 17.4 million ) ; reduced weighted average share count by 7 % since 2Q20 Generated return on equity ( ROE ) of 9.1 % ; operating ROE , as adjusted ( 6 ) , of 12.3 %