Conseco Swings To 2Q Profit On Smaller Investment Losses

Conseco Inc. (CNO) swung to a second-quarter profit as the insurer's investment losses shrank from a year earlier... Shares jumped 8.1% to $3.89 in after-hours trading as the earnings matched the top of the company's guidance... The life-insurance sector has been hurt by the market turmoil, which has damaged many insurers' financial flexibility and decreased their ability to access the credit markets. Earlier this year, Conseco found some breathing room by amending its credit pact after it said its auditor expressed doubts about its ability to continue as a going concern...

WSJ: Conseco Swings To 2Q Profit On Smaller Investment Losses