Unum Group - UNM STOCK NEWS

Unum Group (NYSE: UNM) will be represented by President & CEO Rick McKenney at the Bank of America Securities 2021 Insurance Conference on February 10, 2021. McKenney's presentation, scheduled for 3:15 p.m. EST, will cover the company's business strategy and growth prospects. A live webcast of the event will be accessible on the Investors section of Unum's website. Unum Group is a leading provider of financial protection benefits, reporting $12.0 billion in revenues in 2019 and providing $7.5 billion in benefits.

Unum Group (NYSE: UNM) reported a net income of $135.4 million ($0.66 per diluted share) for Q4 2020, down from $296.2 million ($1.44 per diluted share) in Q4 2019. Key factors included a $32 million gain from a disability reinsurance deal, offset by a $119.7 million reserve increase in long-term care. Adjusted operating income fell to $235.3 million from $290.7 million year-over-year. The company anticipates a decline in income for 2021 due to COVID-19 impacts but expects recovery in the latter half. Total premium income decreased by 1.5% to $1.48 billion.

On January 15, 2021, Unum Group (NYSE: UNM) announced a quarterly dividend of $0.285 per share on its common stock. The dividend will be paid on February 19, 2021, to stakeholders recorded by January 29, 2021. With reported revenues of $12.0 billion in 2019 and benefits provided amounting to $7.5 billion, Unum continues to be a significant player in financial protection benefits and disability income protection globally. The company operates through its Unum US, Unum UK, and other segments.

Unum Group (NYSE: UNM) will announce its fourth quarter 2020 results on February 4, 2021, at 4:15 p.m. Eastern Time. The earnings report will be available in the Investors section of their website. A conference call to discuss the results is scheduled for February 5, 2021, at 8 a.m. Eastern Time, with details for participation provided. Unum Group is known for its financial protection benefits and reported revenues of $12.0 billion in 2019, delivering $7.5 billion in benefits to customers.

Unum (NYSE: UNM) has introduced a new paid caregiver leave benefit for its U.S. employees, providing five consecutive business days of leave for those caring for a seriously ill spouse, child, or parent. This initiative aims to support employees' physical, emotional, and financial wellbeing, addressing the significant toll of caregiving, as highlighted by Unum's research. The company also offers various work-life balance resources, including flexible work policies and employee assistance programs. This move aligns with a growing trend, with 44% of companies planning to enhance paid leave benefits in 2021.

Unum Group (NYSE: UNM) announced a reinsurance agreement involving a substantial portion of its Closed Individual Disability Insurance Block, backed by approximately $7.1 billion in reserves, with Global Atlantic's subsidiary. This transaction, which aims to release $600 million in capital for greater financial flexibility, is expected to have minimal impact on the weighted average risk-based capital ratio and statutory operating earnings. The first phase, covering 75% of the in-force IDI block, is set to close in December 2020, with the second phase expected in Q1 2021.

Unum's research reveals the top three employee benefits desired by U.S. workers are paid time off, flexibility or remote work options, and paid family leave. Despite a decline in travel due to COVID-19, paid time off remains the most sought-after perk for the third consecutive year, with the national average at 10 days per year for U.S. workers. Additionally, female employees prioritize paid family leave more than males. 44% of companies intend to enhance paid leave benefits in the upcoming year, indicating a shift in workplace benefit expectations.

Unum Group (NYSE: UNM) will host a virtual annual investor meeting on December 17, 2020, starting at 8:00 AM EST and concluding by 10:00 AM EST. Participants can register online and will have access to an audio and video webcast. The presentation slides will be available on the company's website for a year post-event. Unum provides a wide range of financial protection benefits, reporting revenues of $12.0 billion in 2019 and delivering $7.5 billion in benefits.

Unum's recent research highlights a significant shift in employee benefits enrollment during the open enrollment season due to COVID-19. The findings show that 36% of U.S. workers plan to change their benefits, with 64% dedicating more time to understanding their options. Notably, 27% intend to increase life insurance coverage. Financial stress is prevalent, with 57% of workers expressing concerns about mental health. Virtual benefits education is on the rise, with 42% of employers opting for digital options for counseling. Despite this, many workers still spend less time reviewing benefits than on social media.