Cno Financial Group, Inc. · NYSE:CNO
Cno Financial — KBW Insurance Conference 2010
22 slides from Cno Financial's conference presentation, Sep 7, 2010
Slide 1: KBW Insurance Conference
Exhibit 99.1 KBW Insurance Conference September 7, 2010
Slide 2: Forward-looking statements
Forward-looking statements Cautionary Statement Regarding Forward-Looking Statements. Our statements, trend analyses and other information contained in these materials relative to markets for CNO Financial Group’s products and trends in CNO Financial Group’s operations or financial results, as well
Slide 3: CNO Financial Group
oa CNO FINANCIAL GROUP CNO Financial Group
Slide 4: The Company: CNO Financial Group
The Company: CNO Financial Group § Focused on serving the protection needs of the fast-growing but underserved senior middle income market § Products include supplemental health, life, annuity and long-term care § Sold through efficient, growing distribution channels: – Bankers Life: strong career a
Slide 5: Value Through Growth and Execution
Value Through Growth and Execution The Opportunity: Rapidly Growing, Underserved Market § Our focus is meeting the needs of fast-growing senior market § Attractive demographics: Baby Boomers reaching retirement age – The first of Boomer population become Medicare-eligible next year – Americans turni
Slide 6: Well-Capitalized To Continue Growth Momentum
Well-Capitalized To Continue Growth Momentum § CNO Financial is well-capitalized because in 2009 we: – Completed two significant reinsurance transactions, receiving $100 million in ceding commission – Refinanced $293 million of convertible debentures early – Raised $296 million in public and private
Slide 7: Pre/After Tax GAAP Operating Income
Pre/After Tax GAAP Operating Income CNO Financial Group 7
Slide 8: Broad Distribution Reach
Broad Distribution Reach Captive PMA/Independent Direct • Focused on middle-income senior • Focused on middle-income • Focused on lower middle-income market with Medicare supplement, working Americans and retirees retirees with simple, low-cost life life, annuity, LTC, Medicare Part D with supplemen
Slide 9: CNO: The right products and the right channels for today's middle-market consumer
CNO: The right products and the right channels for today’s middle-market consumer CNO has expertise CNO can access Strong trends are driving across important middle consumers across middle-market consumers - -market products multiple channels • Rising medical costs • Equity-Indexed Life and • With a
Slide 10: Few competitors in our target space
Few competitors in our target space CNO Financial Group 10
Slide 11: Recent results demonstrate CNO's potential
Recent results demonstrate CNO’s potential § Q2 2010 marks sixth consecutive quarter of GAAP net income § 2009 Statutory Operating Earnings (net of tax) of $264 million § Continued focus on profitable growth in all three insurance segments – 2009 EBIT* up 16% and core sales** up 6% over 2008 – 1st h
Slide 12: Total New Sales Across Business Units
Total New Sales Across Business Units (NAP - $ in millions) (a) Colonial CIG Penn 272.2 242.9 233.5 226.2 218.0 222.4 121.5 93.0 78.2 70.5 72.1 68.8 56.4 35.8 (a) Measured by new annualized premium, which includes 6% of annuity and 10% of single premium whole life deposits and 100% of all other prem
Slide 13: CNO Financial: Compelling Investment Thesis
CNO Financial: Compelling Investment Thesis § Strategic focus on burgeoning senior middle-market—unique “pure play” § Attractive growth and profit potential driven by demographics and execution § Tremendous progress financially and operationally § Well-capitalized and well managed § Value of tax pay
Slide 14: Questions and Answers
io CNO FINANCIAL GROUP Questions and Answers 44 »
Slide 15: Appendix: Certain Non-GAAP Financial Measures
Appendix Certain Non-GAAP Financial Measures
Slide 16: Information Related to Certain Non-GAAP Financial Measures
Information Related to Certain Non-GAAP Financial Measures The following provides additional information regarding certain non-GAAP measures used in this presentation. A non-GAAP measure is a numerical measure of a company’s performance, financial position, or cash flows that excludes or includes am
Slide 17: Information Related to Certain Non-GAAP Financial Measures
Information Related to Certain Non-GAAP Financial Measures A reconciliation of earnings before net realized investment gains (losses), discontinued operations, corporate interest, gain (loss) on extinguishment or modification of debt and taxes (“EBIT”) to net income (loss) applicable to common stock
Slide 18: Information Related to Certain Non-GAAP Financial Measures
Information Related to Certain Non-GAAP Financial Measures Book value, excluding accumulated other comprehensive income, per share This non-GAAP financial measure differs from book value per share because accumulated other comprehensive income has been excluded from the book value used to determine
Slide 19: Information Related to Certain Non-GAAP Financial Measures
Information Related to Certain Non-GAAP Financial Measures Debt to capital ratio, excluding accumulated other comprehensive income (loss) This non-GAAP financial measure differs from the debt to capital ratio because accumulated other comprehensive income (loss) has been excluded from the value of c
Slide 20: Information Related to Certain Non-GAAP Financial Measures
Information Related to Certain Non-GAAP Financial Measures Price to pretax operating income ratio
Slide 21: Information Related to Certain Non-GAAP Financial Measures
Information Related to Certain Non-GAAP Financial Measures Price to pretax operating income ratio
Slide 22: Slide 22