Business

CNO Financial swings to quarterly profit

CARMEL, Ind. (Inside INdiana Business) — Carmel-based CNO Financial Group Inc. (NYSE: CNO) is reporting third quarter net income of $42 million, compared to a net loss of nearly $530 million during the same period last year. Chief Executive Officer Gary Bhojwani says the company delivered strong production results across all three of its business units.

Bhojwani says the results were driven by growth in the company’s accumulation products and improving health sales. 

“Our capital position remains strong and we repurchased $75 million in stock in the quarter,” Bhojwani said in a news release. “While our underlying business fundamentals are solid, earnings were challenged by the low interest rate environment. In response, we continue to pursue opportunities to drive efficiencies and optimize our cost structure.”

CNO Financial is also reporting year-to-date net income of $131.4 million, compared to a net loss of $343.3 million. You can view the full earnings report by clicking here.

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2 Columbus police officers arrested, facing charges of misconduct, ghost employment

COLUMBUS, Ind. (WISH) — Two Columbus police officers have been arrested on multiple charges including official misconduct and ghost employment.

According to Indiana State Police, Dan Meister and Ron May were arrested for allegedly working off-duty security jobs while also working on duty with the Columbus Police Department. An investigation into the officers began in November 2018 after a request was made by the Columbus Police Department.

Lt. Dan Meister and Sgt. Ron May allegedly worked overlapping shifts for both the police department and Columbus Regional Hospital between February 2015 and August 2018. The officers were paid by CPD and the hospital for the same hours worked on multiple occasions.

Meister had overlapped hours on 52 different occasions and May overlapped on 62 occasions, investigators say.

The investigation was turned over to a special prosecutor and arrest warrants were issued for the men on Friday. They were arrested Friday afternoon without incident and taken to the Bartholomew County Jail, police say.

Both officers are facing charges of official misconduct, ghost employment and theft.

May and Meister are expected to face initial hearings soon.

Information about how long they have worked with CPD was not immediately available.

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