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 provides workplace benefits and services through its Unum and Colonial Life brands, with insurance products that include disability, life, accident, critical illness, dental and vision coverage. Company news commonly covers quarterly operating results, premium and sales trends, benefits paid, capital returns through dividends and share repurchases, and updates tied to its core insurance operations and Closed Block long-term care exposure.
Recurring updates also include Colonial Life leadership and strategy, broker and employer technology integrations such as Unum Broker Connect and Unum Total Leave, investor conference appearances, and outlook commentary for workplace benefits, leave and absence management, and related services.
Unum Group (NYSE: UNM) will be represented by President & CEO Rick McKenney and EVP/CFO Steve Zabel at the 2022 Barclays Global Financial Services Conference in New York on September 14, 2022, at 10:30 a.m. EST. They will discuss the company's business strategy and growth prospects. A live webcast will be available on Unum's investor website. Unum has been providing employee benefits for over 170 years, reporting $12.0 billion in revenue and $8.2 billion in benefits paid in 2021.
Unum has enhanced its accident insurance coverage options to better support employees' health and wellness. New benefits include coverage for pet boarding, childcare, alternative therapies, and behavioral health therapy. With injuries occurring every 10 minutes, this expansion allows employees to manage out-of-pocket costs while focusing on recovery. Benefits are effective starting January 1, 2023, and employees can enroll during the fall benefits enrollment period. Unum reported $12 billion in revenues for 2021, providing $8.2 billion in benefits.
Unum Group (NYSE: UNM) reported a net income of $370.4 million ($1.83 per diluted share) for Q2 2022, a significant increase from $182.9 million ($0.89 per diluted share) in Q2 2021. Adjusted operating income was $386.6 million ($1.91 per diluted share), reflecting a robust premium income and improved mortality trends. The company increased its full-year 2022 outlook, expecting a 40%-45% growth in adjusted operating income per share compared to 15%-20% previously. However, book value per share declined 9.5% year-over-year to $48.47.
Unum Group (NYSE: UNM) announced a $350 million term loan agreement to redeem all outstanding 4.000% senior notes due 2024. The redemption will occur on September 1, 2022, using proceeds from the loan and existing cash. The redemption price will be the greater of the principal amount plus accrued interest or the present value of remaining payments discounted to the redemption date. Currently, $350 million of these notes is outstanding. The company has instructed the trustee to notify all holders of the notes regarding the redemption.
On July 15, 2022, Unum Group (NYSE: UNM) declared a quarterly dividend of $0.33 per share on its common stock, set to be paid on August 19, 2022. Stockholders of record as of July 29, 2022 will be eligible for this payment. In 2021, Unum reported revenues of $12.0 billion and paid out $8.2 billion in benefits. The company, recognized as one of the 2022 World's Most Ethical Companies by Ethisphere®, provides various workplace benefits and services.
AM Best has upgraded the Financial Strength Rating (FSR) of Unum Insurance Company to A (Excellent) from A- (Excellent) and revised the outlooks for Unum Group's Long-Term Issuer Credit Ratings (ICRs) to positive from stable. The ratings reflect Unum's strong balance sheet strength, favorable operating performance, and effective risk management. Key factors include improved risk-adjusted capitalization, a $400 million addition of pre-capitalized securities, and a stable asset quality during the COVID-19 pandemic. Unum anticipates stable operating results and growing premium income in the medium term.
Unum Group (NYSE: UNM) is set to release its second quarter 2022 results on August 2, 2022, at 4:15 p.m. EST. A conference call will follow on August 3, 2022, at 8 a.m. EST, where senior management will discuss operational results and provide forward-looking information. The earnings release and financial details will be accessible in the Investors section of their website. In 2021, Unum reported revenues of $12.0 billion and paid $8.2 billion in benefits. The call will also be available for replay until August 10, 2022.
New research from Unum (NYSE: UNM) reveals that 56% of U.S. workers, particularly Millennials and Gen Z, experienced mental health issues in the past year. Furthermore, 42% required time off work due to mental health concerns. The study indicates a significant stigma surrounding mental health in the workplace, with 70% of employees advocating for better support from employers. Unum's Behavioral Health program aims to address these challenges by providing accessible mental health resources and services, including immediate access to therapists and support through technology.
Unum (NYSE: UNM) is addressing key HR challenges by offering tech-forward solutions tailored for employee support in a competitive job market. Research indicates that 56% of U.S. workers reported mental health issues, prompting Unum to enhance its benefits offerings. Notably, the company experienced a 37% increase in disability claims and a 55% rise in leaves administered. Unum's digital solutions, including Unum Total Leave and Unum Behavioral Health, aim to improve workforce wellness and streamline HR processes, thereby supporting both employees and employers.
Unum Group (NYSE: UNM) announced a 10 percent increase in its quarterly dividend, raising it to 33.0 cents per share, effective in the third quarter of 2022. CEO Rick McKenney expressed confidence in the company's future, citing strong sales and premium growth as key drivers of profitability. In 2021, Unum paid $8.2 billion in benefits and reported revenues of $12.0 billion. Shareholders elected 12 directors for terms expiring in 2023 and approved the 2022 Stock Incentive Plan. Forward-looking statements in the release caution potential differences in actual results.