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.
Research by Unum (NYSE: UNM) reveals that over half (57%) of U.S. workers plan to enroll in new employee benefits this year as they focus on their financial future amidst the pandemic. Key findings show that 68% are increasingly concerned about family financial planning, while 66% are more aware of available benefits, especially among Millennials (78%) and Gen Z (73%). Additionally, 56% of workers are likely to remain with their employer due to the benefits offered. Notably, 42% express concern about mental health, highlighting the importance of employer support.
Unum Group (NYSE: UNM) reported a net income of $328.6 million ($1.60 per diluted share) for Q3 2021, up from $231.1 million ($1.13 per diluted share) in Q3 2020. This includes a net after-tax reserve decrease of $143.3 million and an impairment loss of $9.6 million. Adjusted operating income fell to $210.5 million from $245.9 million year-over-year. The US segment saw a significant decrease in adjusted income, particularly in group disability. Despite challenges from COVID-19, sales and premiums grew. A $250 million share repurchase was announced, reflecting strong capital management.
Unum Group (NYSE: UNM) has authorized a $250 million share repurchase program, effective through December 31, 2022. This initiative allows for open market purchases and privately negotiated transactions, subject to management's discretion based on market conditions. The company plans to update its capital management strategy during its third-quarter earnings call on November 3, 2021. In 2020, Unum reported revenues of $13.2 billion and paid $7.6 billion in benefits, further affirming its commitment to shareholder value.
On October 15, 2021, Unum Group (NYSE: UNM) announced a quarterly dividend of $0.30 per share on its common stock. The dividend is set to be paid on November 19, 2021, to stockholders on record as of October 29, 2021. This dividend reflects Unum's ongoing commitment to returning value to shareholders. In 2020, the company reported revenues of $13.2 billion and paid out $7.6 billion in benefits, indicating its strong financial position in the workplace benefits market.
Unum Group (NYSE: UNM) will announce its third quarter 2021 results on November 2 at 4:15 p.m. EST. The earnings release and financial supplement will be available on the company's Investor website. Senior management will follow up with a conference call on November 3 at 8 a.m. EST, discussing operational results and future guidance. A live webcast will be accessible, and a recording will be available until November 10. In 2020, Unum reported revenues of $13.2 billion and paid $7.6 billion in benefits.
Unum (NYSE: UNM) and Colonial Life have partnered with Nayya to enhance the benefits enrollment experience for employees. This collaboration leverages AI and data science to offer personalized guidance, helping employees make informed decisions during open enrollment and life events. The U.S. healthcare costs continue to rise, leading to significant medical debt for many Americans. The partnership aims to empower consumers with data-driven insights for selecting benefits, improving financial wellness outcomes. Unum reported $13.2 billion in revenues for 2020 and paid out $7.6 billion in benefits.
Unum Group (NYSE: UNM) will be represented by President & CEO Rick McKenney at the 2021 Barclays Global Financial Services Conference on September 13, 2021, at 11:15 a.m. EST. McKenney will outline the company's business strategy and future growth prospects. A live webcast of the presentation will be accessible via Unum's website.
Unum is a leading provider of workplace benefits, with reported revenues of $13.2 billion in 2020.
Unum Group (NYSE: UNM) reported a net income of $182.9 million ($0.89 per diluted share) for Q2 2021, down from $265.5 million ($1.30 per diluted share) in Q2 2020. The results included a $53.2 million cost for early debt retirement and a $24.2 million tax expense. Adjusted operating income rose to $286.2 million ($1.39 per diluted share), reflecting a strong performance amid improving COVID conditions. The company expects a smaller decline in after-tax adjusted operating income for the full year, now anticipated to be 1-3% compared to 5-6% previously.
On July 16, 2021, Unum Group (NYSE: UNM) announced a quarterly dividend of $0.30 per share, payable on August 20, 2021, to stockholders of record as of July 30, 2021. This move reflects the company's commitment to providing value to its shareholders. In 2020, Unum reported revenues of $13.2 billion and distributed $7.6 billion in benefits, highlighting its role as a leading provider of financial protection benefits through its various subsidiaries, including Unum US, Unum UK, Unum Poland, and Colonial Life.
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