CNO Financial Group Inc
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
CNO$57.78+1.1%Stored close · as of Nov 10, 2026
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Consolidated Balance Sheet at December 31, 202 and
December 31, 2023 and 2022
ASSETS
| 2023 | 2022 | |
|---|---|---|
| Investments: | ||
| Fixed maturities, available for sale, at fair value (net of allowance for credit losses: 2023 - $42.9 and 2022 - $56.0; amortized cost: 2023 - $23,699.2 and 2022 - $23,384.2) | $21,506.2 | $20,353.4 |
| Equity securities at fair value | 96.9 | 135.3 |
| Mortgage loans (net of allowance for credit losses: 2023 - $15.4 and 2022 - $8.0) | 2,064.1 | 1,411.9 |
| Policy loans | 128.5 | 121.6 |
| Trading securities | 222.7 | 207.9 |
| Investments held by variable interest entities (net of allowance for credit losses: 2023 - $3.1 and 2022 - $5.5; amortized cost: 2023 - $787.6 and 2022 - $1,134.2) | 768.6 | 1,077.6 |
| Other invested assets | 1,353.4 | 1,034.7 |
| Total investments | 26,140.4 | 24,342.4 |
| Cash and cash equivalents - unrestricted | 774.5 | 575.7 |
| Cash and cash equivalents held by variable interest entities | 114.5 | 69.2 |
| Accrued investment income | 251.5 | 235.6 |
| Present value of future profits | 180.7 | 203.7 |
| Deferred acquisition costs | 1,944.4 | 1,770.9 |
| Reinsurance receivables (net of allowance for credit losses: 2023 - $3.0 and 2022 - $2.0) | 4,040.7 | 4,223.4 |
| Market risk benefit asset | 75.4 | 65.3 |
| Income tax assets, net | 936.2 | 1,063.4 |
| Assets held in separate accounts | 3.1 | 2.7 |
| Other assets | 641.1 | 580.8 |
| Total assets | $35,102.5 | $33,133.1 |
(continued on next page)
CONSOLIDATED BALANCE SHEET, continued
December 31, 2023 and 2022
LIABILITIES AND SHAREHOLDERS' EQUITY
| 2023 | 2022 | |
|---|---|---|
| Liabilities: | ||
| Liabilities for insurance products: | ||
| Policyholder account balances | $15,667.8 | $15,234.2 |
| Future policy benefits | 11,928.2 | 11,240.2 |
| Market risk benefit liability | 7.4 | 11.3 |
| Liability for life insurance policy claims | 62.1 | 64.1 |
| Unearned and advanced premiums | 218.9 | 235.0 |
| Liabilities related to separate accounts | 3.1 | 2.7 |
| Other liabilities | 848.8 | 693.9 |
| Investment borrowings | 2,189.3 | 1,639.5 |
| Borrowings related to variable interest entities | 820.8 | 1,104.6 |
| Notes payable – direct corporate obligations | 1,140.5 | 1,138.8 |
| Total liabilities | 32,886.9 | 31,364.3 |
| Commitments and Contingencies | ||
| Shareholders' equity: | ||
| Common stock ($0.01 par value, 8,000,000,000 shares authorized, shares issued and outstanding: 2023 - 109,357,540 and 2022 - 114,343,070) | 1.1 | 1.1 |
| Additional paid-in capital | 1,891.5 | 2,033.8 |
| Accumulated other comprehensive loss | (1,576.8) | (1,957.3) |
| Retained earnings | 1,899.8 | 1,691.2 |
| Total shareholders' equity | 2,215.6 | 1,768.8 |
| Total liabilities and shareholders' equity | $35,102.5 | $33,133.1 |
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