Feb. 23 (Bloomberg) -- CNO Financial Group Inc., the insurer that counts John Paulson’s hedge fund as its largest investor, rose after profit beat analysts’ estimates.

CNO advanced 4.3 percent to $7.69 at 4:15 p.m. in New York, the highest since July 26. The Carmel, Indiana-based firm has surged about 22 percent this year.

Fourth-quarter operating income, which excludes some investment results, was 22 cents per share, beating by 3 cents the average estimate of six analysts surveyed by Bloomberg. Operating profit at the Bankers Life segment jumped to $87.2 million from $71.4 million a year earlier, the company said in a statement late yesterday.

“We were especially pleased with our sales momentum,” Chief Executive Officer Ed Bonach said in the statement.

--Editors: Dan Kraut, William Ahearn

To contact the reporter on this story: Andrea Ludtke in New York at aludtke@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net