wrestle officials options contracting In significant health a Regulators Erik. continues public challenge an with Long-term middle-income solution. in appropriate government turn we an with are forcing and care designed be to Americans. sector, private and for mind. to need offering Thanks, remains needs focus care those insurance retirement continue and our system. continue to strained middle-income already consumers CNO and high-quality committed will insurance, public care providing long-term in the on to affordable to to of the
under business. let The less forward, one Post-transaction, lifetime our materially will of will policies balance from with over X%, X,XXX long-term of represents down the fall reduced CNO inforce inforce. with XX% risk with to at than approximately at care retained to XX,XXX start benefit me benefits business year period Looking represent moving sheet. the Policies policies policies. a
reserves reserves Additionally, transaction, XX%. post down of long-term from our comprise XX% care will only
on clear our periods. with Turning new the to new business, CNO months. currently will are benefit as the these period offering It sales resonate is shorter average products products that most XX customers benefit is across focus
and with earnings discontinue products preference reserve years. that sales expect future will It for important to long-term note shorter and offering margins. of we sales care longer to to periods contribute is benefit customer current products Given desire we three periods, benefit than our
continue of new valuable outside perspective design business, LTC Additionally, reinsure a product on pricing. we provides which and to XX%
middle of transition to the customers. office undertake of better administration identify our to efficiencies a Finally, back ways CNO this review comprehensive to potential business and infrastructure and serve operating our the of more increase allows
and CNO's exposure our differentiated to risk-reduction The close business. reasonable this at section future of better the this long-term older attaining sheet Wilton has to The a earnings comprehensive counterparty while well-capitalized risks risk enhances forward we transformative able XX. the the Fitch. transaction. long-term enabled care execute agency Re. concern. care the to profile, risk by rating in and were us in and step key a key the reserves. transaction more call addressing highlighting a takeaways terms, go-forward marks again, and balance ceding transaction reduces by positive Moving reduction. achieving reduction the which Derisking potential highly Moody's CNO. see economic and taken business in actions business for And already Slide to volatility strength significantly reduces rated successfully a benefits We necessary much pleased ratings by of transact by investment-grade CNO's retained This tail of are with I'll
overhang are growing We and Operating XXXX was and X% growth fast CNO value Lastly, reflecting strength the results. Five its another were capital strong metrics allow diluted to focus reform. sequentially. X%, $XX.XX, quarter was this with franchise. scorecard time tax for removing on share demonstrated earnings underserved of the to CNO. of middle-income second results now and this management the solid Beginning on posted to Book the and benefits Slide like needs quarter XX, growth move on seven serving accelerating up $X.XX, quarter. I'd earnings our the from share earnings quarter our per up profitable of will up market. again second per
several from metrics with this grow encouraging results. goal result, consistent scale later growth pleased strong our presentation. to go the phase early more are pilot all deployment and on I'll in the into seven initiatives in expansion remains drivers The of to of we details the sustainable Although a the yielded way. at quarter have has strategic
growth that the confident are to the on enterprise. sustained and steady We across are achieve we right path
a trend. it positive until are, will more several comfortably quarters call exciting results will these it we of As as take results
highest Our including in to million best returned time We and $XX deploying into capital $XX remains unchanged. to use commitment its in the million over shareholders stock common in capital quarter, repurchases.
new segment agent inforce. premiums. annuity increase sales production spread account total led is our income producing Slide were X%. the premiums requirements to higher a new agents successful collected pilots This agents. and earned on number an underwritten a On which X% result XX% recent health X% X%, year-to-date. and implemented Advantage business higher XX, we plan, NAP underwriting partially late increased due of investment the basis, now. new higher primarily and third-party yield as materially in to Growth sales driven a which adviser is that a Health primarily persistency XX% impacted basis. count do This Life of broker-dealer and collected the should this recruiting trailing not declination were are respectively. up sales XX-month up Bankers result combined Annuity first-year margins. is we decline strong values retention. increase Total by fully sales in of over quarter. life drove issue simplified national our by Life results. previously revenue businesses average increased on were Moving and both of decline, producing sales up our by of universal Medicare higher Medicare Ultimately, X% with down sales life Offsetting rollout X% rates decreased underwriting first-year this the the on registered The -- fee the was our in last of to agent underwriting change higher sequential driven and as future improve year. report comparable our mentioned Advantage of
take size will retention validates improvements it progress the are force, hold. we encouraged are time total to of agent to beginning the and by impact take it recruiting While initiatives for as the our that these
emphasize to will agent productivity. We continue and retention
XX% block. collected to a continued a upon growth X% NAP in Moving momentum Medicare Total health, the from were XX%. from by X% National. by X%. These initiatives up Washington of was offset This XXXX partially the offerings includes continued driven product worksite diversify closed in sales. life to quarter, stem supplemental Supplement run-off increase results increase premiums up year-ago and the and build Total of
count XXXX for the PMA growth prior marking fifth quarter flat double-digit Second XX% consecutive PMA were year. The sales agent to the channel. average quarter worksite prior is of year, up this versus producing
agent recruiting individual in New our down channel slightly. was
by results. channel veteran Washington offset channels. partially to was initiatives in recruiting agent worksite in the continue positive it initiatives both growth However, retention with and strong National's advance
early $X seeing efforts incremental success National year-to-date. expansion are geographic the generated a our with has million We XX-state footprint program of Washington in NAP that to expand nearly
gaining leverages product CNO short-term distribution encouraging the in traction, expanded care we its PMA additional across breadth sell to success. is of pilot particularly Our and based is and that pilot territories the the on individual channel capabilities. it the early and distribution diverse This portfolio
and in Penn, For due in the NAP total collected advertising to higher the efficiency. by premiums up stable quarter, driven block growth X% Colonial were sales persistency. spend and X% was strong up cost-effective
to platform also see We digital our results. diversification in sales enhancements. discuss I'll with in turn and marketing driven call our the quarter to by increase this experience was in web now continue XX% and the to investments customer A over Erik success Erik? efforts. financial