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CNO FINANCIAL GROUP News For Immediate Release CNO Financial Group Reports Third Quarter 2021 Results Solid third quarter performance ; sales and collected premiums exceed pre - pandemic levels ; completed $ 115 million in share repurchases Carmel , Ind . , October 27 , 2021 - CNO Financial Group , Inc. ( NYSE : CNO ) today announced that for the quarter ending September 30 , 2021 , net income was $ 99.8 million , or $ 0.77 per diluted share , compared to a net income of $ 129.2 million , or $ 0.91 per diluted share , in 3Q20 . Net operating income ( 1 ) in 3Q21 was $ 92.8 million , or $ 0.72 per diluted share , compared to $ 112.6 million , or $ 0.79 per diluted share , in 3Q20 . " CNO reported another successful quarter , " said Gary C. Bhojwani , chief executive officer . " We continue to benefit from the outstanding work and customer commitment of our associates and agents . Our results reflect the consistent execution of our strategy , particularly within our direct - to - consumer business . Earnings continued to benefit from deferral of care within our health lines and very strong alternative investment performance . We approach the end of the year on solid footing and remain well - positioned to serve our clients and communities , and generate value for our shareholders . " Third Quarter 2021 Highlights • Earnings per diluted share of $ 0.77 in 3Q21 , down $ 0.14 compared to 3Q20 • • • • • Operating ( 1 ) EPS of $ 0.72 in 3Q21 , down $ 0.07 compared to 3Q20 , consistent with the reduced net favorable impacts from COVID - 19 Favorable COVID - 19 impact on insurance product margins of $ 18.0 million after - tax , or $ 0.14 per diluted share , in 3Q21 , down $ 15 million , or $ 0.09 per diluted share , compared to 3Q20 Direct - to - consumer life insurance new annualized premiums ( NAP ) ( 4 ) up 13 % from 3Q20 , up 38 % from 3Q19 Annuity collected premiums up 17 % from 3Q20 , up 2 % from 3Q19 Returned $ 131.3 million to shareholders in the form of share repurchases ( $ 115.0 million ) and dividends ( $ 16.3 million ) ; reduced weighted average share count by 9 % since 3Q20 • Book value per share was $ 42.11 , up 15 % from 3Q20 ; book value per diluted share , excluding accumulated other comprehensive income ( 2 ) , was $ 26.03 , up 11 % from 3Q20 • Return on equity ( ROE ) of 8.4 % ; operating ROE , as adjusted ( 6 ) , of 11.5 %