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 (NYSE: UNM) has elected Gale V. King, former CAO and executive vice president at Nationwide Mutual Insurance, to its board of directors. King, who has over 37 years of experience in insurance, will join Unum's Human Capital and Risk and Finance Committees on May 1, 2022. Recognized for her work in building strong workplace cultures and promoting diversity, she brings valuable insights to Unum's leadership. In 2021, Unum generated $12.0 billion in revenue and paid $8.2 billion in benefits, affirming its status as a leading provider of workplace benefits.
Unum has introduced a new employee benefit allowing payroll deductions for an emergency savings fund. This initiative is aimed at improving financial wellness among its workforce, as 34% of U.S. workers have under $1,000 in savings. The plan allows eligible employees to save without fees and offers investment options similar to their 401(k) accounts. Financial insecurity is high, with 57% of workers able to pay bills for three months or less if income is lost. Unum provides additional resources like financial wellness checkups and student debt relief programs.
Unum Group (NYSE: UNM) will host a virtual investor meeting on February 25, 2022, from 8:00 AM to 9:30 AM EST. Interested participants can join the meeting via a toll-free dial-in number or a live webcast. A Q&A session will follow prepared remarks. The call will be available for replay until March 4, 2022. Presentation slides will be accessible on Unum's Investor site for one year. The company, a provider of workplace benefits for over 170 years, reported $13.2 billion in revenues in 2020.
Unum Group (NYSE: UNM) reported a net income of $159.7 million ($0.78 per diluted share) for Q4 2021, a rise from $135.4 million ($0.66 per diluted share) in Q4 2020. After-tax adjusted operating income was $182.0 million ($0.89 per diluted share), down from $235.3 million ($1.15 per diluted share) year-over-year. Premium income increased 3.0% to $1,529.3 million. The company repurchased $50 million in stock and maintained a strong capital position despite elevated claims from COVID-19. Adjusted operating income results varied across segments, with declines in Unum US but gains in Unum International.
Unum Group (NYSE: UNM) declared a quarterly dividend of $0.30 per share on its common stock, effective January 14, 2022. The dividend will be paid on February 18, 2022, to stockholders of record as of January 28, 2022. With over 170 years in the industry, Unum provides workplace benefits and services, reporting revenues of $13.2 billion in 2020 and paying out $7.6 billion in benefits. Recognized as one of the 2021 World's Most Ethical Companies, the company continues to show commitment to its shareholders.
Unum Group (NYSE: UNM) will announce its fourth quarter 2021 results on February 1, 2022, at approximately 4:15 p.m. EST. A conference call to discuss these results will be held on February 2 at 8 a.m. EST. Interested parties can participate via multiple toll-free numbers or listen to a live webcast. The recording will be available on their Investor site until March 1, 2022. Unum is recognized for its workplace benefits and services, reporting revenues of $13.2 billion and $7.6 billion in benefits paid in 2020.
COLUMBIA, S.C., Dec. 21, 2021 /PRNewswire/ -- Colonial Life, a Unum brand (NYSE: UNM), announces the appointment of Michael Stachowiak as Senior Vice President of Sales and Shea Treadway as Senior Vice President of Field and Market Development. Stachowiak, with nearly 20 years of experience, previously led the Southwest team at Colonial Life, driving significant growth. Treadway, currently VP of Small Business at Unum, brings expertise in distribution and operations. Both executives are expected to enhance Colonial Life's leadership and growth prospects, as highlighted by Tim Arnold, Colonial Life president.
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.
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