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's recent study reveals that 55% of U.S. workers lack disability insurance, a critical safeguard for their income. Notably, 70% of Baby Boomers are without this coverage, despite representing 47% of long-term disability claims. Many cite reasons such as feeling healthy (33%), affordability concerns (29%), and lack of awareness (10%). With a 1 in 4 chance of facing disability before retirement, and amid the ongoing pandemic, the importance of income protection is underscored. Disability insurance typically replaces 60-70% of lost income, emphasizing its value for financial security.
Unum Group (NYSE: UNM) announced that its President & CEO, Rick McKenney, will present at the Barclays Global Financial Services Conference on September 16, 2020, at 11:15 a.m. Eastern. The conference will take place virtually. McKenney will discuss the company's business strategy and future growth prospects, with a live audio webcast available on the company's Investors section. Unum Group, a leader in disability income protection, reported $12 billion in revenues for 2019 and paid out $7.5 billion in benefits.
Unum (NYSE: UNM) has introduced a Student Debt Relief Program allowing its 9,500 U.S. employees to convert up to 40 hours of unused paid time off (PTO) into student loan repayments. This initiative resulted in $625,000 paid toward loan principal and interest in its first year, averaging $1,200 per participant. The program aims to alleviate financial stress as approximately 30% of Unum's workforce carries student debt. Additionally, employees benefit from a competitive PTO policy and various financial planning resources.
Unum Group (NYSE: UNM) reported a net income of $265.5 million ($1.30 per diluted share) for Q2 2020, down from $281.2 million ($1.33 per diluted share) in Q2 2019. The results included a $10 million impairment and a $25.4 million investment gain. Adjusted operating income fell to $250.1 million from $286.9 million year-over-year. While premium income increased slightly by 1.2% to $1.52 billion, various segments experienced declines in operating income and investment income. The company suspended financial guidance for the remainder of 2020 due to COVID-19 uncertainty.
On July 17, 2020, Unum Group (NYSE: UNM) announced a quarterly dividend of $0.285 per share on its common stock. The dividend will be paid on August 21, 2020, to shareholders recorded by July 31, 2020. Unum Group, a leader in disability income protection, reported revenues of $12 billion in 2019, distributing $7.5 billion in benefits. This consistent dividend policy reflects the company’s confidence in its financial stability and commitment to returning value to shareholders.
New research by Unum (NYSE: UNM) shows that U.S. adults have increased activities that could lead to accidents since the COVID-19 pandemic began. A survey of 1,003 adults revealed that 52% are involved in indoor cleaning and 44% in yard work. Consequently, 11% reported accidents requiring medical attention since March 2020, with higher rates among younger demographics. Unum's accident insurance can provide financial aid for related medical expenses, echoing a significant concern as 75% of insured individuals struggle with out-of-pocket costs.
Unum Group (NYSE: UNM) will announce its second quarter 2020 results on July 28 at 4:15 p.m. Eastern time. The earnings release will be accessible on the company’s website. A conference call to discuss the results is scheduled for July 29 at 8 a.m. Eastern time. Interested listeners can participate by dialing specific numbers provided in the release. Unum Group, a leading provider of financial protection benefits, reported revenues of $12 billion in 2019, paying out $7.5 billion in benefits.