Unum Group Reports Second Quarter 2024 Results
Unum Group (NYSE: UNM) reported a net income of $389.5 million ($2.05 per diluted common share) for Q2 2024, compared to $392.9 million ($1.98 per diluted common share) in Q2 2023. Adjusted operating income was $411.4 million ($2.16 per diluted common share).
Key highlights include:
- Premium growth of 5.4% in core operations.
- Full-year 2024 adjusted operating earnings per share outlook increased to 10%-15%.
- Holding company liquidity of $1.3 billion and risk-based capital ratio of approximately 470%.
- New $1 billion share repurchase program effective August 1, 2024.
- Book value per common share of $55.63, an increase of 18.2% year-over-year.
- Segment highlights include growth in premium income and net investment income in Unum US, Unum International, Colonial Life, and Closed Block segments.
Unum Group (NYSE: UNM) ha riportato un utile netto di 389,5 milioni di dollari (2,05 dollari per azione comune diluita) per il secondo trimestre del 2024, rispetto a 392,9 milioni di dollari (1,98 dollari per azione comune diluita) nel secondo trimestre del 2023. L'utile operativo rettificato è stato di 411,4 milioni di dollari (2,16 dollari per azione comune diluita).
I principali punti salienti includono:
- Crescita dei premi del 5,4% nelle operazioni principali.
- Previsione per l'intero anno 2024 degli utili operativi rettificati per azione incrementata al 10%-15%.
- Liquidità della holding di 1,3 miliardi di dollari e un rapporto di capitale basato sul rischio di circa 470%.
- Nuovo programma di riacquisto di azioni da 1 miliardo di dollari, che entrerà in vigore il 1 agosto 2024.
- Valore contabile per azione comune di 55,63 dollari, con un aumento del 18,2% rispetto all'anno precedente.
- Punti salienti del segmento includono la crescita del reddito da premi e del reddito netto da investimenti in Unum US, Unum International, Colonial Life e Closed Block.
Unum Group (NYSE: UNM) informó un ingreso neto de 389,5 millones de dólares (2,05 dólares por acción común diluida) para el segundo trimestre de 2024, en comparación con 392,9 millones de dólares (1,98 dólares por acción común diluida) en el segundo trimestre de 2023. El ingreso operativo ajustado fue de 411,4 millones de dólares (2,16 dólares por acción común diluida).
Los puntos destacados incluyen:
- Crecimiento del prima del 5,4% en operaciones centrales.
- Perspectiva de ganancias operativas ajustadas por acción para todo el año 2024 aumentada al 10%-15%.
- Liquidez de la compañía matriz de 1,3 mil millones de dólares y un ratio de capital basado en riesgos de aproximadamente 470%.
- Nuevo programa de recompra de acciones de 1 mil millones de dólares efectivo a partir del 1 de agosto de 2024.
- Valor contable por acción común de 55,63 dólares, un aumento del 18,2% en comparación con el año pasado.
- Los aspectos destacados del segmento incluyen el crecimiento en el ingreso por primas y el ingreso neto por inversiones en Unum US, Unum International, Colonial Life y Closed Block.
Unum Group (NYSE: UNM)는 2024년 2분기에 3억 8950만 달러 (희석된 보통주 기준 주당 2.05달러)의 순이익을 보고했습니다. 이는 2023년 2분기의 3억 9290만 달러 (희석된 보통주 기준 주당 1.98달러)와 비교됩니다. 조정된 운영 수익은 4억 1140만 달러 (희석된 보통주 기준 주당 2.16달러)였습니다.
주요 하이라이트는 다음과 같습니다:
- 핵심 운영에서 5.4%의 프리미엄 성장.
- 2024년 전체 연도 조정된 운영 주당 수익 전망을 10%-15%로 증가시켰습니다.
- 지주회 유동성 13억 달러 및 리스크 기반 자본 비율은 대략 470%입니다.
- 2024년 8월 1일부터 시행되는 10억 달러 주식 재매입 프로그램.
- 보통주당 장부가치는 55.63달러로, 전년 대비 18.2% 증가했습니다.
- 세그먼트 하이라이트에는 Unum US, Unum International, Colonial Life 및 Closed Block 부문의 프리미엄 수익 및 순 투자 수익의 성장 포함됩니다.
Unum Group (NYSE: UNM) a rapporté un revenu net de 389,5 millions de dollars (2,05 dollars par action ordinaire diluée) pour le deuxième trimestre de 2024, contre 392,9 millions de dollars (1,98 dollar par action ordinaire diluée) pour le deuxième trimestre de 2023. Le résultat d'exploitation ajusté s'est élevé à 411,4 millions de dollars (2,16 dollars par action ordinaire diluée).
Les points clés incluent :
- Une croissance des primes de 5,4% dans les opérations principales.
- Les prévisions des bénéfices d'exploitation ajustés par action pour l'année entière 2024 ont été rehaussées à 10%-15%.
- Liquidité de la société mère de 1,3 milliard de dollars et un ratio de capital basé sur le risque d'environ 470%.
- Nouveau programme de rachat d'actions de 1 milliard de dollars entrant en vigueur le 1er août 2024.
- Valeur comptable par action ordinaire de 55,63 dollars, soit une augmentation de 18,2% par rapport à l'année précédente.
- Les points saillants des segments comprennent la croissance des revenus de primes et des revenus net d'investissement dans les segments Unum US, Unum International, Colonial Life et Closed Block.
Unum Group (NYSE: UNM) berichtete im 2. Quartal 2024 von einem Nettogewinn in Höhe von 389,5 Millionen Dollar (2,05 Dollar pro verwässerter Stammaktie), verglichen mit 392,9 Millionen Dollar (1,98 Dollar pro verwässerter Stammaktie) im 2. Quartal 2023. Das bereinigte Betriebsresultat betrug 411,4 Millionen Dollar (2,16 Dollar pro verwässerter Stammaktie).
Wichtige Highlights sind:
- Prämienwachstum von 5,4% im Kernbetrieb.
- Die Prognose für das bereinigte Betriebsergebnis pro Aktie für das Gesamtjahr 2024 wurde auf 10%-15% angehoben.
- Liquidität des Mutterunternehmens in Höhe von 1,3 Milliarden Dollar und ein risikobasierter Kapitalanteil von etwa 470%.
- Neues Programm zum Aktienrückkauf in Höhe von 1 Milliarde Dollar, das am 1. August 2024 in Kraft tritt.
- Buchwert pro Stammaktie von 55,63 Dollar, was einem Anstieg von 18,2% im Vergleich zum Vorjahr entspricht.
- Sektor-Highlights umfassen das Wachstum im Prämieneinkommen und im Nettoanlageergebnis in den Segmenten Unum US, Unum International, Colonial Life und Closed Block.
- Net income of $389.5 million for Q2 2024.
- Adjusted operating income of $411.4 million for Q2 2024.
- Premium growth of 5.4% in core operations.
- Full-year 2024 outlook for after-tax adjusted operating earnings per share increased to 10%-15%.
- Holding company liquidity of $1.3 billion.
- Weighted average risk-based capital ratio of approximately 470%.
- New $1 billion share repurchase program effective August 1, 2024.
- Book value per common share of $55.63, an increase of 18.2% year-over-year.
- Unum US group disability line reported a 4.1% decrease in adjusted operating income to $153.2 million.
- Unum International segment reported a 17.0% decrease in net investment income to $38.0 million.
- Supplemental and voluntary line of business reported a 12.5% decrease in adjusted operating income to $115.2 million.
Insights
Unum Group's Q2 2024 results demonstrate solid performance and positive momentum. The company reported net income of
Key highlights include:
- Core operations premium growth of
5.4% on a constant currency basis - Increased full-year 2024 outlook for after-tax adjusted operating earnings per share to
10% to15% growth - Strong balance sheet with
$1.3 billion in holding company liquidity - Weighted average risk-based capital ratio of approximately
470% - New
$1.0 billion share repurchase authorization
The company's performance was driven by strong results across segments, particularly in the Group Life business. The Unum US segment, which is the largest contributor to earnings, saw a
The increased full-year outlook and new share repurchase program signal management's confidence in the company's trajectory. However, investors should monitor the long-term care business in the Closed Block segment, as it continues to face challenges with a high net premium ratio of
Overall, Unum's Q2 results and positive outlook suggest a favorable environment for the company's core insurance businesses, positioning it well for continued growth and shareholder value creation.
Unum's Q2 2024 results reflect the company's strong position in the employee benefits market and its ability to navigate industry challenges. The
Notable trends include:
- Improved persistency across most product lines, particularly in group disability and group life
- Strong sales growth in voluntary benefits (
27.0% increase) - Favorable benefit ratios in several key product lines, including group long-term disability and group life
The company's international operations, particularly Unum UK, showed resilience with a
The Colonial Life segment's steady performance, with a
However, the long-term care business remains a concern, with its high net premium ratio of
Unum's strong capital position, with a
- Net income of
$389.5 million $2.05 $411.4 million $2.16 - Growing top-line with core operations premium growth of 5.4 percent on a constant currency basis, and robust margins across our businesses.
- Full-year 2024 outlook for after-tax adjusted operating earnings per share increased to 10 percent to 15 percent.
- Strong balance sheet with holding company liquidity of
$1.3 billion $366.1 million - New share repurchase authorization of
$1.0 billion $248.8 million $179.8 million $69.0 million - Book value per common share of
$55.63 $70.76
Included in net income for the second quarter of 2024 are the after-tax amortization of the cost of reinsurance of
"Our team delivered another strong quarter as we continued to execute against our growth strategy, with contributions from across the company and particularly strong results in our Group Life business. As a result of our better performance in the first half of 2024 and positive trends, we are increasing our full year after-tax adjusted operating earnings per share outlook to double digit growth," said Richard P. McKenney, president and chief executive officer. "Reflecting on our strong performance, we have continued to invest in growth to help ensure we remain the preferred choice for our customers while consistently returning capital to our shareholders. In line with that, today, we announced a new
RESULTS BY SEGMENT
We measure and analyze our segment performance on the basis of "adjusted operating income" or "adjusted operating loss", which differ from income before income tax as presented in our consolidated statements of income due to the exclusion of investment gains and losses, amortization of cost of reinsurance, the impact of non-contemporaneous reinsurance, and reserve assumption updates. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. Reserve assumption updates may result in increases or decreases to earnings. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for income before income tax, net income or net loss.
Unum US Segment
Unum US reported adjusted operating income of
Within the Unum US operating segment, the group disability line of business reported a 4.1 percent decrease in adjusted operating income to
The group life and accidental death and dismemberment line of business reported a 72.7 percent increase in adjusted operating income to
The supplemental and voluntary line of business reported a decrease of 12.5 percent in adjusted operating income to
Unum International Segment
The Unum International segment reported adjusted operating income of
The Unum
Colonial Life Segment
Colonial Life reported adjusted operating income of
Closed Block Segment
The Closed Block segment reported adjusted operating income of
The net premium ratio for the long-term care product line increased to 93.7 percent at June 30, 2024 from 86.1 percent at June 30, 2023, due primarily to the impacts of the reserve assumption updates in the third quarter of 2023. Benefits were unfavorable during the second quarter of 2024 relative to the same period of 2023 driven primarily by the increase in current period benefit expense resulting from the higher net premium ratio and the impact of capped cohorts. Compared to March 31, 2024, the net premium ratio decreased from 93.8 percent to 93.7 percent due to the impacts of favorable experience in uncapped cohorts. Overall claim experience improved sequentially and was relatively in line with our communicated guidance of short-term elevated experience.
Corporate Segment
The Corporate segment reported an adjusted operating loss of
OTHER INFORMATION
Shares Outstanding
The Company's weighted average number of shares outstanding, assuming dilution, was 190.3 million for the second quarter of 2024, compared to 198.1 million for the second quarter of 2023. Shares outstanding totaled 188.1 million at June 30, 2024. During the second quarter of 2024, the Company repurchased 3.5 million shares at a total cost of
Capital Management
At June 30, 2024, the weighted average risk-based capital ratio for the Company's traditional
Book Value
Book value per common share as of June 30, 2024 was
Effective Tax Rate
The effective tax rate on adjusted operating earnings was 21.4 percent in the second quarter of 2024.
Outlook
Full-year 2024 outlook increased due to the strong first half of the year, and the expectations that trends will continue for the second half of 2024. Previous outlook of an increase in after-tax adjusted operating income per share of 7 percent to 9 percent increased to 10 percent to 15 percent.
NON-GAAP FINANCIAL MEASURES
We analyze our performance using non-GAAP financial measures. A non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. We believe the following non-GAAP financial measures are better performance measures and better indicators of the revenue and profitability and underlying trends in our business:
- After-tax adjusted operating income or loss, which excludes investment gains or losses, amortization of the cost of reinsurance, non-contemporaneous reinsurance, and reserve assumption updates;
- Book value per common share, which is calculated excluding AOCI.
Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. We believe after-tax adjusted operating income is a better performance measure and better indicator of the profitability and underlying trends in our business. Book value per common share excluding AOCI provides a more comparable and consistent view of our results, as AOCI tends to fluctuate depending on market conditions and general economic trends.
Cash flow assumptions used to calculate our liability for future policy benefits are reviewed at least annually and updated, as needed, with the resulting impact reflected in net income. While the effects of these assumption updates are recorded in the reporting period in which the review is completed, these updates reflect experience emergence and changes to expectations spanning multiple periods. We believe that by excluding the impact of reserve assumption updates we are providing a more comparable and consistent view of our quarterly results.
We exited a substantial portion of our Closed Block individual disability product line through the two phases of the reinsurance transaction that were executed in December 2020 and March 2021. As a result, we exclude the amortization of the cost of reinsurance that we recognized upon the exit of the business related to the policies on claim status as well as the impact of non-contemporaneous reinsurance that resulted from the adoption of Accounting Standards Update 2018-12 (ASU 2018-12). Due to the execution of the second phase of the reinsurance transaction occurring after January 1, 2021, the transition date of ASU 2018-12, in accordance with the provisions of the ASU related to non-contemporaneous reinsurance, we were required to establish the ceded reserves using an upper-medium grade fixed-income instrument as of the reinsurance transaction date in March 2021, which resulted in higher ceded reserves compared to that which was reported historically. However, the direct reserves for the block reinsured in the second phase were calculated using the original discount rate utilized as of the transition date. Both the direct and ceded reserves are then remeasured at each reporting period using a current discount rate reflective of an upper-medium grade fixed-income instrument, with the changes recognized in other comprehensive income (loss). While the total equity impact is neutral, the different original discount rates utilized for direct and ceded reserves result in disproportionate earnings impacts. The impact of non-contemporaneous reinsurance will fluctuate depending on the magnitude of reserve changes during the period. We believe that the exclusion of these items provides a better view of our results from our ongoing businesses.
We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability.
CONFERENCE CALL INFORMATION
Members of Unum Group senior management will host a conference call on Wednesday, July 31, 2024, at 8:00 am (Eastern Time) to discuss the results of operations for the second quarter of 2024. Topics may include forward-looking information, such as the Company's outlook on future results, trends in operations, and other material information.
To receive dial in information for the call, please register in advance by using the following URL:
https://registrations.events/direct/Q4I330796246. Upon registration you will receive a dial-in number to use to access the event. It is recommended that you register at least 10 minutes before the start of the event. In addition, a live webcast of the call will also be available at www.investors.unum.com in a listen-only mode. It is recommended that webcast viewers access the "Investors" section of the Company's website and opt-in to the webcast approximately 5-10 minutes prior to the start of the call. A replay of the webcast will be available on the Company's website. A replay of the call will also be available through Wednesday, August 7 by dialing 1-800-770-2030 (
In conjunction with today's earnings announcement, the Company's Statistical Supplement for the second quarter of 2024 is available on the "Investors" section of the Company's website.
ABOUT UNUM GROUP
Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; leave and absence management support; and behavioral health services. In 2023, Unum Group reported revenues of more than
Visit the Unum Group newsroom (https://www.unumgroup.com/newsroom) for more information, and connect with us on LinkedIn (https://www.linkedin.com/company/unum), Facebook (https://www.facebook.com/unumbenefits/), and Instagram (https://www.instagram.com/unumbenefits/).
SAFE HARBOR STATEMENT
Certain information in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those not based on historical information, but rather relate to our outlook, future operations, strategies, financial results, or other developments and speak only as of the date made. These forward-looking statements, including statements about anticipated growth in after-tax adjusted operating income per share, are subject to numerous assumptions, risks, and uncertainties, many of which are beyond our control. The following factors, in addition to other factors mentioned from time to time, may cause actual results to differ materially from those contemplated by the forward-looking statements: (1) fluctuation in insurance reserve liabilities and claim payments due to changes in claim incidence, recovery rates, mortality and morbidity rates, and policy benefit offsets due to, among other factors, the rate of unemployment and consumer confidence, the emergence of new diseases, epidemics, or pandemics, new trends and developments in medical treatments, the effectiveness of our claims operational processes, and changes in governmental programs; (2) sustained periods of low interest rates; (3) unfavorable economic or business conditions, both domestic and foreign, that may result in decreases in sales, premiums, or persistency, as well as unfavorable claims activity or unfavorable returns on our investment portfolio; (4) the impact of pandemics and other public health issues on our business, financial position, results of operations, liquidity and capital resources, and overall business operations; (5) changes in, or interpretations or enforcement of, laws and regulations; (6) a cybersecurity attack or other security breach resulting in compromised data or the unauthorized acquisition of confidential data; (7) the failure of our business recovery and incident management processes to resume our business operations in the event of a natural catastrophe, cybersecurity attack, or other event; (8) investment results, including, but not limited to, changes in interest rates, defaults, changes in credit spreads, impairments, and the lack of appropriate investments in the market which can be acquired to match our liabilities; (9) increased competition from other insurers and financial services companies due to industry consolidation, new entrants to our markets, or other factors; (10) ineffectiveness of our derivatives hedging programs due to changes in forecasted cash flows, the economic environment, counterparty risk, ratings downgrades, capital market volatility, changes in interest rates, and/or regulation; (11) changes in our financial strength and credit ratings; (12) actual experience in the broad array of our products that deviates from our assumptions used in pricing, underwriting, and reserving; (13) Our ability to hire and retain qualified employees; (14) our ability to develop digital capabilities or execute on our technology systems upgrades or replacements; (15) availability of reinsurance in the market and the ability of our reinsurers to meet their obligations to us; (16) ability to generate sufficient internal liquidity and/or obtain external financing; (17) damage to our reputation due to, among other factors, regulatory investigations, legal proceedings, external events, and/or inadequate or failed internal controls and procedures; (18) disruptions to our business or our ability to leverage data caused by the use and reliance on third-party vendors, including vendors providing web and cloud-based applications; (19) recoverability and/or realization of the carrying value of our intangible assets, long-lived assets, and deferred tax assets; (20) effectiveness of our risk management program; (21) contingencies and the level and results of litigation; (22) fluctuation in foreign currency exchange rates; and (23) our ability to meet environmental, social, and governance standards and expectations of investors, regulators, customers, and other stakeholders.
For further discussion of risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part 1, Item 1A "Risk Factors" of our annual report on Form 10-K for the year ended December 31, 2023. The forward-looking statements in this news release are being made as of the date of this news release, and we expressly disclaim any obligation to update or revise any forward-looking statement contained herein, even if made available on our website or otherwise.
Unum Group FINANCIAL HIGHLIGHTS (Unaudited)
| |||||||
($ in millions, except share data) | |||||||
Three Months Ended June 30 | Six Months Ended June 30 | ||||||
2024 | 2023 | 2024 | 2023 | ||||
Revenue | |||||||
Premium Income | $ 2,627.2 | $ 2,509.1 | $ 5,237.5 | $ 4,968.4 | |||
Net Investment Income | 545.1 | 531.1 | 1,058.6 | 1,039.9 | |||
Net Investment Gain (Loss) | (10.4) | 0.9 | (11.6) | 1.0 | |||
Other Income | 71.5 | 71.1 | 149.2 | 139.0 | |||
Total Revenue | 3,233.4 | 3,112.2 | 6,433.7 | 6,148.3 | |||
Benefits and Expenses | |||||||
Policy Benefits Including Remeasurement Gain | 1,809.5 | 1,753.6 | 3,594.8 | 3,490.0 | |||
Commissions | 319.1 | 286.1 | 632.7 | 580.0 | |||
Interest and Debt Expense | 49.9 | 48.9 | 99.4 | 97.0 | |||
Deferral of Acquisition Costs | (165.1) | (156.5) | (332.0) | (314.2) | |||
Amortization of Deferred Acquisition Costs | 127.9 | 113.7 | 254.1 | 229.6 | |||
Other Expenses | 596.6 | 568.0 | 1,193.5 | 1,116.2 | |||
Total Benefits and Expenses | 2,737.9 | 2,613.8 | 5,442.5 | 5,198.6 | |||
Income Before Income Tax | 495.5 | 498.4 | 991.2 | 949.7 | |||
Income Tax Expense | 106.0 | 105.5 | 206.5 | 198.5 | |||
Net Income | $ 389.5 | $ 392.9 | $ 784.7 | $ 751.2 | |||
PER SHARE INFORMATION | |||||||
Net Income Per Common Share | |||||||
Basic | $ 2.05 | $ 1.99 | $ 4.10 | $ 3.80 | |||
Assuming Dilution | $ 2.05 | $ 1.98 | $ 4.09 | $ 3.78 | |||
Weighted Average Common Shares - Basic (000s) | 189,894.1 | 197,180.4 | 191,302.5 | 197,641.3 | |||
Weighted Average Common Shares - Assuming Dilution (000s) | 190,329.3 | 198,136.5 | 191,878.5 | 198,823.8 | |||
Outstanding Shares - (000s) | 188,114.9 | 196,459.0 | |||||
Reconciliation of Non-GAAP Financial Measures | |||||||
Three Months Ended June 30 | |||||||
2024 | 2023 | ||||||
(in millions) | per share * | (in millions) | per share * | ||||
Net Income | $ 389.5 | $ 2.05 | $ 392.9 | $ 1.98 | |||
Excluding: | |||||||
Net Investment Gain (Loss) (net of tax expense (benefit) of | (8.2) | (0.04) | 0.7 | — | |||
Amortization of the Cost of Reinsurance (net of tax benefit of | (8.2) | (0.04) | (8.7) | (0.04) | |||
Non-Contemporaneous Reinsurance (net of tax benefit of | (5.5) | (0.03) | (7.9) | (0.04) | |||
After-tax Adjusted Operating Income | $ 411.4 | $ 2.16 | $ 408.8 | $ 2.06 | |||
* Assuming Dilution | |||||||
June 30 | |||||||
2024 | 2023 | ||||||
(in millions) | per share | (in millions) | per share | ||||
Total Stockholders' Equity (Book Value) | $ 10,464.6 | $ 55.63 | $ 9,245.9 | $ 47.06 | |||
Excluding: | |||||||
Net Unrealized Loss on Securities | (2,723.8) | (14.48) | (2,762.6) | (14.06) | |||
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits | 712.3 | 3.79 | 0.1 | — | |||
Net Loss on Derivatives | (164.6) | (0.87) | (33.3) | (0.17) | |||
Subtotal | 12,640.7 | 67.19 | 12,041.7 | 61.29 | |||
Excluding: | |||||||
Foreign Currency Translation Adjustment | (328.4) | (1.75) | (327.1) | (1.67) | |||
Subtotal | 12,969.1 | 68.94 | 12,368.8 | 62.96 | |||
Excluding: | |||||||
Unrecognized Pension and Postretirement Benefit Costs | (341.7) | (1.82) | (334.7) | (1.70) | |||
Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Loss | $ 13,310.8 | $ 70.76 | $ 12,703.5 | $ 64.66 | |||
Three Months Ended | ||||||||
June 30, 2024 | June 30, 2023 | |||||||
Premium Income | Premium Income | Weighted Average | Premium Income | |||||
Unum International | ||||||||
Unum | $ 191.7 | £ 143.1 | 1.263 | $ 180.7 | ||||
Unum Poland | 37.1 | zł 119.1 | 0.250 | 29.8 | ||||
Total | 228.8 | 210.5 | ||||||
Unum US | 1,730.9 | $ 1,641.4 | 1,641.4 | |||||
Colonial Life | 446.2 | $ 430.6 | 430.6 | |||||
Core Operations | $ 2,405.9 | $ 2,282.5 | ||||||
1Premium income shown in millions of pounds for Unum |
2Exchange rate is calculated using the average foreign currency exchange rates for the most recent period, applied to the comparable prior period. |
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SOURCE Unum Group
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