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Cno Financial Group Inc.  (CNO)
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Cno Financial Group Inc's

Competitiveness


 

CNO Sales vs. its Competitors Q2 2022



Comparing the results to its competitors, Cno Financial Group Inc reported Total Revenue decrease in the 2 quarter 2022 year on year by -20.32 %, despite revenue increase by most of its competitors of 6.99 %, recorded in the same quarter.

List of CNO Competitors

With net margin of 15.92 % company achieved higher profitability than its competitors.

More on CNO Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Cno Financial Group Inc. Net Income in the 2 quarter 2022 grew year on year by 74.49 %, while most of its competitors have experienced contraction in net income

<<  More on CNO Income Comparisons


Cno Financial Group Inc's Comment on Competitors and Industry Peers


The markets in which we operate are competitive. Compared to CNO, many companies in the financial services industry are larger, have greater capital, technological and marketing resources, have greater access to capital and other sources of liquidity at a lower cost, offer broader and more diversified product lines, have greater brand recognition, have larger staffs and higher ratings. Banks, securities brokerage firms and other financial intermediaries also market insurance products or offer competing products, such as mutual fund products, traditional bank investments and other investment and retirement funding alternatives. We also compete with many of these companies and others in providing services for fees. In most areas, competition is based on a number of factors including pricing, service provided to distributors and policyholders and ratings. CNO's subsidiaries must also compete to attract and retain the allegiance of agents, insurance brokers and marketing companies.

In the individual health insurance business, companies compete primarily on the bases of marketing, service and price. Pursuant to federal regulations, the Medicare supplement products offered by all companies have standardized policy features. This increases the comparability of such policies and intensifies competition based on other factors. See "Insurance Underwriting" and "Governmental Regulation" for additional information. In addition to competing with the products of other insurance companies, commercial banks, mutual funds and broker dealers, our insurance products compete with health maintenance organizations, preferred provider organizations and other health care-related institutions which provide medical benefits based on contractual agreements.

Our principal competitors vary by product line. Our main competitors for agent-sold long-term care insurance products include Genworth, Northwestern Mutual and John Hancock Financial Services. Our main competitors for agent-sold Medicare supplement insurance products include Blue Cross and Blue Shield Plans, Mutual of Omaha and United HealthCare. Our main competitors for life insurance sold through direct marketing channels include Gerber Life, MetLife, Mutual of Omaha, New York Life, Massachusetts Mutual Life Insurance Company and subsidiaries of Torchmark Corporation ("Torchmark"). Our main competitors for supplemental health products sold through our Washington National segment include AFLAC, subsidiaries of Allstate, Colonial Life and Accident Company and subsidiaries of Torchmark.

In some of our product lines, such as life insurance and fixed annuities, we have a relatively small market share. Even in some of the lines in which we are one of the top writers, our market share is relatively small.

Most of our major competitors have higher financial strength ratings than we do. Many of our competitors are larger companies that have greater capital, technological and marketing resources and have access to capital at a lower cost. Recent industry consolidation, including business combinations among insurance and other financial services companies, has resulted in larger competitors with even greater financial resources. Furthermore, changes in federal law have narrowed the historical separation between banks and insurance companies, enabling traditional banking institutions to enter the insurance and annuity markets and further increase competition. This increased competition may harm our ability to maintain or improve our profitability.

In addition, because the actual cost of products is unknown when they are sold, we are subject to competitors who may sell a product at a price that does not cover its actual cost. Accordingly, if we do not also lower our prices for similar products, we may lose market share to these competitors. If we lower our prices to maintain market share, our profitability will decline.

The Colonial Penn segment has faced increased competition from other insurance companies who also distribute products through direct marketing. In addition, the demand and cost of television advertising appropriate for Colonial Penn's campaigns fluctuates from period to period and will impact the average cost to generate a TV lead.

We must attract and retain sales representatives to sell our insurance and annuity products. Strong competition exists among insurance and financial services companies for sales representatives. We compete for sales representatives primarily on the basis of our financial position, financial strength ratings, support services, compensation, products and product features. Our competitiveness for such agents also depends upon the relationships we develop with these agents.





  

Overall company Market Share Q2 2022

Overall company, revenue fell by -20.32 % and company lost market share, to approximate 0.2 %.




<<  More on CNO Market Share.
 
*Market share is calculated based on total revenue.


CNO's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)


COMPANY NAME MARKET CAP
(in millions of $)
REVENUES
(in millions of $)
INCOME
(in millions of $)
EMPLOYEES
Cno Financial Group Inc. CNO 2,111.15 3,741.00 464.00 3,500
Aflac Incorporated AFL 36,568 21,345.00 4,347.00 11,729
Cigna Corporation CI 87,734 179,461.00 5,538.00 73,700
Humana Inc HUM 61,273 89,383.00 3,145.00 46,000
Metlife Inc. MET 48,204 68,306.00 3,612.00 49,000
Principal Financial Group inc PFG 18,410 17,283.50 4,324.80 17,400
Unitedhealth Group Incorporated UNH 483,056 306,561.00 18,729.00 325,000
Unum Group UNM 7,795 11,972.20 1,112.20 10,300
Assurant Inc. AIZ 8,015 10,205.10 1,203.70 14,200
Elevance Health Inc. ELV 110,488 149,130.00 6,072.00 0
Security National Financial Corporation SNFCA 138 429.28 22.94 1,271
Centene Corporation CNC 45,939 138,095.00 1,855.00 56,600
Futu Holdings Ltd FUTU 46,421 912.27 360.30 150
Triple s Management Corporation GTS 840 4,115.22 81.17 3,257
Molina Healthcare Inc. MOH 19,183 30,273.00 752.00 21,000
Allstate Corp ALL 34,222 50,048.00 944.00 46,290
American International Group Inc. AIG 38,916 57,171.00 13,891.00 46,000
Aon Plc AON 58,070 12,448.00 1,544.00 50,000
Truist Financial Corporation TFC 59,365 22,495.00 6,254.00 59,000
Cincinnati Financial Corporation CINF 14,282 7,143.00 542.00 5,148
Lincoln National Corporation LNC 7,832 19,636.00 880.00 11,357
Prudential Financial Inc. PRU 32,327 64,301.00 2,191.00 51,511
Mbia Inc MBI 446 179.00 -387.00 252
The Hartford Financial Services Group Inc. HIG 20,062 22,268.00 2,077.00 19,500
Loews Corp L 12,216 14,360.00 1,820.00 12,200
Chubb Limited ACE 0 56,118.00 8,360.00 0
Genworth Financial Inc. GNW 1,787 7,579.00 908.00 5,300
Berkshire Hathaway Inc BRKA 500,090 289,371.00 12,751.00 0
First Midwest Bancorp Inc FMBI 2,447 729.14 176.87 1,790
Fnb Corp FNB 4,202 1,251.00 372.00 2,747
International Bancshares Corporation IBOC 2,741 546.00 222.59 2,822
Old National Bancorp ONB 4,907 1,018.68 215.33 2,652
Renasant Corp RNST 1,840 589.10 150.34 1,996
Simmons First National Corp SFNC 2,981 810.66 493.98 1,946
Svb Financial Group SIVB 20,267 5,875.92 1,769.24 3,898
Santander Holdings Usa Inc. SOVxC 0 9,412.96 2,616.57 15,150
Southstate Corp SSB 5,992 1,484.35 449.14 2,058
S and t Bancorp Inc. STBA 1,188 326.67 108.08 1,067
Trustmark Corp TRMK 1,936 636.20 110.92 2,941
Leaf Group Ltd LEAF 304 231.10 -4.48 0
Partnerre Ltd PREJ 0 7,399.54 702.17 0
Atlantic American Corp AAME 58 195.30 2.91 147
American National Group Inc ANAT 5,109 4,299.31 639.89 4,736
Citizens Inc. CIA 172 240.60 30.46 620
Fbl Financial Group Inc FFG 1,494 788.43 102.89 1,637
First Trinity Financial Corp. FTFC 0 61.20 4.47 9
National Security Group Inc. NSEC 41 66.13 0.82 1
National Western Life Group Inc. NWLI 604 628.50 156.69 261
Planet Labs Pbc PL 1,475 0.00 -98.97 0
Utg Inc. UTGN 92 27.90 2.21 42
Voya Financial Inc. VOYA 6,790 6,717.00 1,104.00 0
China United Insurance Service inc. CUII 106 98.84 13.14 2,239
Horace Mann Educators Corporation HMN 1,529 1,354.90 118.00 1,350
Outbrain Inc. OB 211 967.28 -16.71 1,150
United Fire Group Inc UFCS 734 985.59 66.03 1,057
White Mountains Insurance Group ltd WTM 0 765.50 -562.50 2,973
Axis Capital Holdings Ltd AXS 4,370 5,190.69 443.81 1,225
Kemper Corporation KMPR 2,820 5,755.80 -92.40 5,600
National General Holdings Corp NGHC 3,976 5,552.29 524.21 4,630
Midwest Holding Inc. MDWT 56 24.24 -5.46 0
SUBTOTAL 1,834,229.49 1,718,360.37 113,210.34 1,006,409
       
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