Welcome to our dedicated page for Unum news (Ticker: UNM), a resource for investors and traders seeking the latest updates and insights on Unum stock.
Unum Group (NYSE: UNM) is a Fortune 500 company and a leader in disability, group life, and voluntary benefits. For over 175 years, Unum has been committed to helping workers and their families thrive. The company offers a broad range of insurance products such as disability, life, accident, critical illness, dental, vision, and stop-loss insurance, as well as leave and absence management support and behavioral health services through its Unum and Colonial Life brands.
Unum Group operates through three primary business segments: Unum US, which generates the majority of the company's revenue, Unum International, and Colonial Life. These segments serve diverse markets across the United States, the United Kingdom, Poland, and other countries.
In 2022, Unum reported revenues of approximately $12 billion and paid $8 billion in benefits. The company has been recognized as one of the World's Most Ethical Companies by Ethisphere and continues to be a socially responsible organization with a strong commitment to community service and positive change.
Unum's recent achievements reflect its financial and operational strength. In 2023, the company reported net income of $330.6 million ($1.69 per diluted common share) for the fourth quarter, compared to $289.2 million ($1.44 per diluted common share) for the same period in 2022. The company's strong performance was driven by robust premium and sales growth, effective cost management, and a strategic focus on technology and digital transformation.
Furthermore, Unum's financial strength and debt ratings have been upgraded by leading rating agencies, affirming the company's solid financial position and operational execution. Unum's technology initiatives have also earned accolades, with the company being named one of America's Most Innovative Companies by Forbes and receiving several prestigious technology awards.
Unum's strategic focus includes investing in technology to enhance customer experiences by providing high-quality, digital-first services. The company's leadership in this area has been recognized with awards for innovation and digital transformation. Unum's robust capital position and consistent profitability enable it to return significant capital to shareholders while also investing in future growth opportunities.
Unum Group remains well-positioned to achieve its earnings growth objectives, driven by favorable market conditions and strong demand for its comprehensive suite of insurance products and services. The company's commitment to innovation, customer satisfaction, and financial strength ensures it continues to provide valuable benefits and support to its diverse customer base.
Unum Group (NYSE: UNM) has announced a new $1 billion share repurchase program authorized by its board of directors, set to commence on April 1, 2025. The company's current share repurchase program will terminate on March 31, 2025, with any unused amounts expiring on that date.
Management will determine the timing and amount of share repurchases based on market conditions and other factors. The repurchases may be executed through various means, including open market transactions, privately negotiated deals, accelerated share repurchase programs, or preset trading plans under Rule 10b5-1. The board retains the right to suspend, modify, or terminate the program at any time.
Unum Group (NYSE: UNM) has announced its participation in the 2025 UBS Financial Services Conference. President & CEO Rick McKenney will represent the company and deliver a presentation on Monday, February 10, 2025, at 3:30 p.m. ET. During his presentation, McKenney will discuss the company's business strategy and future growth prospects.
Interested parties can access a live audio webcast of the presentation through the Investors section of Unum's website at www.investors.unum.com, specifically on the News and Events page.
Unum Group (UNM) reported strong Q4 2024 financial results with net income of $348.7 million ($1.92 per diluted share) and after-tax adjusted operating income of $368.9 million ($2.03 per diluted share). The company demonstrated solid growth with full-year core operations premium growth of 5.0% on a constant currency basis and after-tax adjusted operating earnings per share growth of 10.2% compared to 2023.
Key financial highlights include a robust balance sheet with holding company liquidity of $2.0 billion and weighted average risk-based capital ratio of approximately 430%. Book value per common share increased 23.0% to $61.38 compared to the year-ago quarter. The company maintains a positive outlook for 2025, projecting core operations premium growth of 4-7% and after-tax adjusted operating earnings per share growth of 8-12%.
Segment performance showed mixed results, with Unum US reporting a slight decrease in adjusted operating income, while Colonial Life saw a significant 39.7% increase. The company executed accelerated share repurchase agreements totaling $471.0 million in Q4 2024.
Unum Group (NYSE: UNM) has announced a quarterly dividend payment of $0.420 per share on its common stock. The dividend was declared by the Board of Directors on January 9, 2025, and will be paid on February 14, 2025. Shareholders who are recorded as stockholders as of January 24, 2025, will be eligible to receive this dividend payment.
Unum Group (NYSE: UNM) has announced it will release its fourth quarter 2024 financial results on February 4, 2025, at approximately 4:15 p.m. ET. The company will make the earnings release and financial supplement available in the investors section of their website at investors.unum.com.
Following the release, Unum's senior management team will host a conference call on February 5, 2025, at 8:00 a.m. ET to discuss the Q4 operational results and provide their outlook for 2025.
Unum Group has joined The Council for Disability Income Awareness (CDIA). Through its subsidiaries Unum and Colonial Life, the company provides employee benefits and HR solutions, partnering with 174,000 companies to protect 45 million workers and their families across the United States. In 2023, Unum Group reported revenues of $12.4 billion and paid $7.9 billion in benefits. The company's Vice President of Government Affairs, Marty McGuinness, expressed enthusiasm about rejoining CDIA, emphasizing their commitment to supporting individuals with disabilities and promoting disability awareness through industry collaboration.
Unum Group (UNM) reported strong Q3 2024 results with net income of $645.7 million ($3.46 per share), compared to $202.0 million ($1.02 per share) in Q3 2023. After-tax adjusted operating income was $398.0 million ($2.13 per share). Core operations premium growth increased 4.6% on a constant currency basis. The company maintains a strong balance sheet with holding company liquidity of $1.4 billion and a weighted average risk-based capital ratio of 470%. Book value per share grew 20.4% to $59.36 year-over-year. The company completed annual GAAP reserve assumption updates, resulting in a before-tax net reserve decrease of $357.4 million.
Unum Group (NYSE: UNM) has announced a quarterly dividend of $0.420 per share on its common stock. The dividend will be paid on November 15, 2024, to stockholders of record as of October 25, 2024. This decision was made by the Unum Group Board of Directors, effective October 11, 2024. The announcement demonstrates Unum's commitment to providing regular returns to its shareholders.
Unum Group (NYSE: UNM) has announced the release date for its third quarter 2024 financial results. The company will disclose its earnings on October 29, 2024, at approximately 4:15 p.m. ET. Investors can access the earnings release and financial supplement through the company's website at https://investors.unum.com.
Following the release, Unum Group's senior management will host a conference call on October 30, 2024, at 8:00 a.m. ET to discuss the third quarter operations results. This call will provide an opportunity for stakeholders to gain insights into the company's performance and future outlook.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'a+' (Excellent) for the core U.S. life/health insurance subsidiaries of Unum Group (NYSE: UNM). The outlook for these ratings is stable. The ratings reflect Unum's strong balance sheet, strong operating performance, favorable business profile, and appropriate enterprise risk management.
Key factors include Unum's strongest level of risk-adjusted capitalization, adequate liquidity, and a conservatively managed investment portfolio. The company has shown strong sales and retention strategies in its core product lines, particularly in accident & health. AM Best notes Unum's innovative capabilities in the HR space but cautions that a weakening economy could impact growth. The agency will continue to monitor Unum's closed block of long-term care business for potential balance sheet impacts.
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