Welcome to our dedicated page for Unum Group news (Ticker: UNM), a resource for investors and traders seeking the latest updates and insights on Unum Group 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) will disclose its fourth quarter 2022 results on January 31, 2023, at approximately 4:15 p.m. EST. The earnings report and financial supplement will be accessible on the company's investor website. A conference call is scheduled for February 1, 2023, at 8 a.m. EST to discuss these results, including forward-looking insights and trends. Additionally, an Investor Outlook Meeting will take place on February 23, 2023, in New York City.
Recent research by Unum reveals that U.S. workers prioritize non-insurance benefits such as paid time off (39%), flexible work options (32%), and paid family leave (31%). Mental health resources are particularly valued by younger generations, with 39% of Millennials and 42% of Gen Z ranking it as their top need. Alarmingly, 64% lack access to emergency savings options. Unum emphasizes the necessity for employers to adapt benefits to meet the diverse needs of a multi-generational workforce, ensuring comprehensive support for all employees.<\/p>
Unum is expanding its workforce, hiring over 200 positions across various departments in its national and international offices. The company, which has 10,500 employees in the U.S., U.K., Ireland, and Poland, focuses on entry-level roles to foster career growth and internal promotions. Unum offers a competitive benefits package, including medical insurance, student debt relief, and parental leave. In 2021, Unum reported revenues of $12 billion and paid $8.2 billion in benefits, reflecting its commitment to employee well-being and professional development.
Unum Group (NYSE: UNM) has authorized a $200 million share repurchase program effective January 1, 2023 through December 31, 2023. This decision follows the expiration of the previous program on December 31, 2022. Management will determine timing and amounts based on market conditions. Repurchases may occur through various methods, including open market transactions and accelerated programs. Unum, a leader in workplace benefits, reported $12.0 billion in revenue in 2021 and is recognized as one of the 2022 World's Most Ethical Companies.
Unum Group (NYSE: UNM) will be represented by President & CEO Rick McKenney and EVP/CFO Steve Zabel at the Goldman Sachs 2022 US Financial Services Conference. The presentation is scheduled for 3:40 p.m. EST on December 7, 2022, in New York City. They will discuss Unum's business strategy and future growth prospects. A live webcast will be available on Unum's Investor website. With over 170 years in providing workplace benefits, Unum reported $12 billion in revenues and $8.2 billion in benefits paid in 2021.
Unum Group (NYSE: UNM) has appointed Mary Wagnon as senior vice president and chief risk officer, Lynn Rice as senior vice president and chief accounting officer, and Matt Royal as senior vice president of investor relations and treasury. Wagnon, with over 25 years in financial roles, will lead enterprise risk management. Rice, a CPA with 30 years of experience, managed a $50 billion investment portfolio. Royal, previously chief auditor, is now responsible for strategic investor relations. Executive vice president Steven A. Zabel expressed confidence in their contributions to the company's growth.
Unum Group (UNM) reported a net income of $410.7 million ($2.04 per diluted share) for Q3 2022, a rise from $328.6 million ($1.60 per diluted share) in Q3 2021. The adjusted operating income was $303.7 million ($1.51 per diluted share), up from $210.5 million in the previous year. Premium income increased by 3.9% to $1.56 billion. The company maintained a strong balance sheet with over $1.1 billion in liquidity. However, book value per share declined by 20% to $43.49 year-over-year. The group disability line saw a significant increase in operating income, reflecting solid operational performance.
Unum Group announced enhancements to its Unum Dental Network, ensuring greater access to dental care for members. This network includes over 120,000 in-network providers and covers over 800,000 individuals nationwide. Unum aims to recruit more dentists through its streamlined operations, allowing members to reduce out-of-pocket costs. With its focus on user-friendly benefits, Unum continues to position itself as a leader in workplace benefits, backed by its $12.0 billion revenue and recognition as one of the 2022 World's Most Ethical Companies.
Unum Group (NYSE: UNM) has declared a quarterly dividend of $0.33 per share on its common stock, effective October 14, 2022. The dividend will be paid on November 18, 2022, to stockholders of record as of October 28, 2022. In 2021, Unum generated revenues of $12.0 billion and paid out $8.2 billion in benefits. The company is recognized as one of the 2022 World's Most Ethical Companies by Ethisphere®.
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