CNO Falls as Botched Risk-Transfer Forces Halt of Buybacks

  • Insurer ends Beechwood deal, bringing back long-term care risk
  • Company filed lawsuit against Beechwood executives Thursday

CNO Financial Group Inc. fell in New York trading after the company ended a risk-transfer agreement with a reinsurer tied to embattled hedge fund Platinum Partners, taking a loss on the terminated deal and suspending share buybacks.

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