CNO Financial Group, Inc. (NYSE:CNO) Q4 2023 Results Conference Call February 7, 2024 12:00 PM ET

Company Participants

Adam Auvil - Investor Relations

Gary Bhojwani - Chief Executive Officer

Paul McDonough - Chief Financial Officer

Eric Johnson - President and Chief Investment Officer

Conference Call Participants

Brian Kruger - Stifel

Suneet Kamath - Jefferies

John Barnidge - Piper Sandler

Wilma Burdis - Raymond James

Operator

Hello, and welcome to today's CNO Financial Group Fourth Quarter 2023 Earnings Conference Call. My name is Baily, and I will be your moderator for today. [Operator Instructions]

I would now like to pass the conference over to today's host, Adam Auvil to begin. Please begin.

Adam Auvil

Good afternoon, and thank you for joining us on CNO Financial Group's Fourth Quarter 2023 Earnings Conference Call. Today's presentation will include remarks from Gary Bhojwani, Chief Executive Officer; and Paul McDonough, Chief Financial Officer. Following the presentation, we will also have other business leaders available for the question-and-answer period.

During this conference call, we will be referring to information contained in yesterday's press release. You can obtain the release by visiting the Media section of our website at cnoinc.com. This morning's presentation is also available in the Investors section of our website and was filed in a Form 8-K yesterday. We expect to file our Form 10-K and post it on our website on or before February 23.

Let me remind you that any forward-looking statements we make today are subject to a number of factors, which may cause actual results to be materially different than those contemplated by the forward-looking statements. Today's presentations contains a number of non-GAAP measures, which should not be considered as substitutes for the most directly comparable GAAP measures. You'll find a reconciliation of non-GAAP measures to the corresponding GAAP measures in the appendix. Throughout the presentation, we will be making performance comparisons, and unless otherwise specified, any comparisons made will be referring to changes between full year 2023 and full year 2022.

And with that, I'll turn the call over to Gary.

Gary Bhojwani

Thanks, Adam. Good afternoon, everyone, and thank you for joining us. CNO delivered strong earnings growth in the quarter and exceptional operating performance for the full year. Our results underscore the health and strength of our business model and lay the foundation for sustained profitable growth.

Highlights of our full year performance include four quarters of sustained sales momentum, total new annualized premium up 9%, improvement in virtually all agent metrics across both divisions, strong net investment income results, continued strong capital position and free cash flow generation and our share price reached an all-time high.