CNO Financial Group, Inc. (NYSE: CNO) , the holding company for several national life and health insurers that serve middle-income working Americans and retirees, earned a place on the prestigious Forbes 2014 list of the 50 Most Trustworthy Financial Companies in America. CNO Financial Group earned a top 50 score for trustworthy conduct over the four quarters of the previous fiscal year.
"We are proud of this ranking that recognizes our responsible governance, transparent reporting and disciplined risk management," said Ed Bonach, CEO of CNO Financial Group. "In recent years, we have focused on reducing our risk profile, while profitably growing the company. We value and work diligently to earn the trust of our stakeholders."
In 2013, CNO Financial Group's stock price rose by nearly 90%, well above that of its peers and the industry. Since the beginning of 2012, the company has received seven ratings upgrades from key ratings agencies: Moody's Investors Service, Standard & Poor's, Fitch Ratings and A.M. Best.
To determine the list of the 50 most trustworthy financial institutions, Forbes engaged GMI Ratings to review publicly traded banks and insurance companies in North America. GMI considered factors such as high-risk events, revenue and expense recognition methods, SEC actions and bankruptcy risk to determine "Aggressive Accounting and Governance Risk" (AGR) scores that reflect a company's credibility.