 | |
| Formerly | Conseco Inc. (1979–2010) |
|---|---|
| Company type | Public |
| NYSE: CNO S&P 400 Component | |
| Industry | Financial services |
| Founded | 1979; 46 years ago (1979) |
| Headquarters | Carmel, Indiana, United States |
Key people | Gary C. Bhojwani (CEO) |
| Products | Insurance |
| Revenue |  $ 3.8 billion(2015)[1] |
 $ 367.7 million(2015)[2] | |
| $ 270.7 million(2015)[1] | |
| Total assets | $ 31.1 billion(2015)[1] |
| Total equity | $ 4.1 billion(2014)[1] |
Number of employees | 3,300[3] (2017) |
| Subsidiaries | Colonial Penn,Bankers Life, 40/86 Advisors, Washington National Insurance Company |
| Website | https://www.cnoinc.com/ |
CNO Financial Group, Inc. [formerlyConseco, Inc. (fromConsolidatedNationalSecurityCorporation)] is an American financial services holding company based inCarmel, Indiana.[4] Its insurance subsidiaries providelife insurance,annuity and supplementalhealth insurance products to more than four million customers in theUnited States. These products are distributed through independent agents, career agents and direct to customers through television advertising and direct mail.
CNO Financial Group is the parent company of seven insurance companies, includingBankers Life and Casualty Company andColonial Penn Life Insurance Company.[5] They also own 40/86 Advisors, an investment management company and Washington National Insurance Company.
CNO Financial was incorporated in 1979 as Security National of Indiana Corp. by Stephen Hilbert.[6] SNI bought Consolidated National Life Insurance Co. in 1983. It began insurance operations in 1982 and became a public company in 1985.[citation needed]
In 1986, Conseco acquiredLincoln Income Life Insurance Company at $29 per share for $32.3 million. ShearsonLehman Brothers advised Lincoln Income Life Insurance. Earlier, in mid-1985, Lincoln had agreed to be acquired by I.C.H.[7] for $31 per share in cash but the merger could not 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 purchasedBankers National Life Insurance Company for $118 million, respectively.[citation needed]
In 1998, Conseco purchased the former Greentree Financial, one of the largest financiers ofmobile homes, in an attempt to diversify into consumer financial services. They also bought life insurance companyColonial Penn later that year, changing their name to Conseco Direct Life, though changing the name back to Colonial Penn in 2001 (known as Bankers Conseco Life Insurance Company inNew York state). Conseco (though not its subsidiary insurance companies) enteredChapter 11 reorganization in 2002 and emerged nine months later in 2003.[8][9] Conseco's bankruptcy was the third largest U.S. Chapter 11 filing at the time, after the bankruptcies ofWorldCom Inc. andEnron.[10] In the process of reorganization, GreenTree was divested and thereafter Conseco solely focused on the insurance industry.[citation needed]
From its opening in 1999 until 2011, the company (when it was known as Conseco) held the naming rights to thehome arena of theNBA'sIndiana Pacers; the naming rights were transferred to Bankers Life in 2011.[11]
On May 11, 2010, the board of directors officially approved changing the holding company's name to CNO Financial Group.[12] CNO Financial ranked 608 on theFortune 1000 with 2014 revenues of $4.1 billion.
In February 2015, CNO Financial sold itsHyderabad-based India operations toCognizant.[13][14]
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