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CNO Financial grows insurance income and boosts full-year guidance
In the second quarter, TechMod technology modernization costs rose to $9.7 million, with the full program expected to total about $170 million.
CNO Financial Group posted its 16th consecutive quarter of sales growth in the second quarter of 2026, with insurance policy income increasing to $680.7 million from $651.3 million a year earlier, according to Insurance Business.
The insurer also reported total new annualized premiums for life and health products rose 7% and net income climbed to $125.9 million, or $1.33 per diluted share, from $91.8 million, or $0.91 per diluted share, in the prior-year period. Net operating income, excluding certain items including investment gains and losses and embedded derivative fair value changes, rose 37% to $119.5 million, or $1.26 per diluted share.
CNO said it raised full-year guidance and highlighted growth across parts of its business, including quarterly records in Worksite Division NAP, annuity collected premiums, and client assets in brokerage and advisory. The company also reported quarterly records tied to agent count growth in both its Consumer and Worksite divisions, marking a 14th consecutive quarter and a 16th consecutive quarter, respectively.
The update came as TechMod technology modernization continues to drive expenses. CNO reported second-quarter TechMod costs of $9.7 million versus $3.2 million a year earlier, and said the program is expected to total roughly $170 million across its full duration, with about $75 million slated for 2026 alone.