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.
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.
On October 15, 2021, Unum Group (NYSE: UNM) announced a quarterly dividend of $0.30 per share on its common stock. The dividend is set to be paid on November 19, 2021, to stockholders on record as of October 29, 2021. This dividend reflects Unum's ongoing commitment to returning value to shareholders. In 2020, the company reported revenues of $13.2 billion and paid out $7.6 billion in benefits, indicating its strong financial position in the workplace benefits market.
Unum Group (NYSE: UNM) will announce its third quarter 2021 results on November 2 at 4:15 p.m. EST. The earnings release and financial supplement will be available on the company's Investor website. Senior management will follow up with a conference call on November 3 at 8 a.m. EST, discussing operational results and future guidance. A live webcast will be accessible, and a recording will be available until November 10. In 2020, Unum reported revenues of $13.2 billion and paid $7.6 billion in benefits.
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Unum (NYSE: UNM) and Colonial Life have partnered with Nayya to enhance the benefits enrollment experience for employees. This collaboration leverages AI and data science to offer personalized guidance, helping employees make informed decisions during open enrollment and life events. The U.S. healthcare costs continue to rise, leading to significant medical debt for many Americans. The partnership aims to empower consumers with data-driven insights for selecting benefits, improving financial wellness outcomes. Unum reported $13.2 billion in revenues for 2020 and paid out $7.6 billion in benefits.
Unum Group (NYSE: UNM) will be represented by President & CEO Rick McKenney at the 2021 Barclays Global Financial Services Conference on September 13, 2021, at 11:15 a.m. EST. McKenney will outline the company's business strategy and future growth prospects. A live webcast of the presentation will be accessible via Unum's website.
Unum is a leading provider of workplace benefits, with reported revenues of $13.2 billion in 2020.
Unum Group (NYSE: UNM) reported a net income of $182.9 million ($0.89 per diluted share) for Q2 2021, down from $265.5 million ($1.30 per diluted share) in Q2 2020. The results included a $53.2 million cost for early debt retirement and a $24.2 million tax expense. Adjusted operating income rose to $286.2 million ($1.39 per diluted share), reflecting a strong performance amid improving COVID conditions. The company expects a smaller decline in after-tax adjusted operating income for the full year, now anticipated to be 1-3% compared to 5-6% previously.