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 (NYSE: UNM), a leading provider of workplace benefits and income protection insurance, maintains this dedicated news hub for investors and industry stakeholders. Access timely updates including earnings reports, regulatory filings, leadership announcements, and product developments directly impacting the company's market position.
This resource centralizes Unum's financial disclosures, strategic initiatives, and operational updates across its core segments: Unum US, Colonial Life, and international markets. Users will find essential information about disability insurance innovations, group life coverage expansions, and voluntary benefits program enhancements.
Key content categories include quarterly earnings analyses, merger/acquisition activity, dividend declarations, and corporate responsibility updates. All materials are sourced from official channels to ensure accuracy for those monitoring UNM stock performance or evaluating the insurance sector.
Bookmark this page for streamlined access to Unum's latest developments. Combine these updates with SEC filings and market analysis tools available on Stock Titan for comprehensive investment research.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and the Long-Term Issuer Credit Ratings (Long-Term ICR) of 'a+' (Excellent) for the core U.S. life/health insurance subsidiaries of Unum Group (NYSE: UNM). The outlook for these ratings is stable. The ratings reflect Unum's strong balance sheet, strong operating performance, favorable business profile, and appropriate enterprise risk management.
Key factors include Unum's strongest level of risk-adjusted capitalization, adequate liquidity, and a conservatively managed investment portfolio. The company has shown strong sales and retention strategies in its core product lines, particularly in accident & health. AM Best notes Unum's innovative capabilities in the HR space but cautions that a weakening economy could impact growth. The agency will continue to monitor Unum's closed block of long-term care business for potential balance sheet impacts.
Unum Group (NYSE: UNM) has announced its participation in the 2024 KBW Insurance Conference. President & CEO Rick McKenney and EVP and CFO Steve Zabel will represent the company at the event. They are scheduled to speak on Wednesday, September 4, 2024, at 2:50 p.m. ET.
During their presentation, McKenney and Zabel will discuss Unum's business strategy and future growth prospects. For those interested in following the event, a live audio webcast of the presentation will be available on the Investors section of Unum's website, specifically on the News and Events page at www.investors.unum.com.
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) has announced a significant $1 billion share repurchase program, authorized by its board of directors. The program is set to commence on August 1, 2024, replacing the current repurchase program, which will be terminated on July 31, 2024. This strategic move allows Unum to repurchase its common stock from time to time, with the timing and amount of repurchases to be determined by management based on market conditions and other factors.
The repurchases may be executed through various methods, including open market transactions, privately negotiated deals, accelerated share repurchase programs, or other means compliant with federal securities laws. Importantly, the board retains the flexibility to suspend, modify, or terminate the program at any time, ensuring adaptability to changing market dynamics.
Unum Group (NYSE: UNM) has announced a quarterly dividend of $0.420 per share on its common stock, as declared by its Board of Directors on July 12, 2024.
The dividend is scheduled to be paid on August 16, 2024, to shareholders who are on record as of July 26, 2024. This reflects Unum Group's continued commitment to returning value to its shareholders.
Unum Group (NYSE: UNM) announced the sale of its Medical Stop Loss business to Amynta Group, a leading insurance services provider. The Stop Loss Business will operate under Amynta Risk Solutions as a full-service managing general underwriter. The acquisition allows Unum to focus on its core enterprise priorities, while Amynta plans to invest in the business to foster growth and innovation. The financial terms of the deal were not disclosed, and the transaction is expected to close in Q3 2024 after customary conditions are met. Piper Sandler & Co. and Faegre Drinker Biddle & Reath LLP advised Unum on the deal.
Unum Group (NYSE: UNM) announced it will release its second quarter 2024 results on July 30, 2024, at 4:15 p.m. ET. These results will be accessible on the company's investor website. Following the release, Unum's senior management will host a conference call on July 31, 2024, at 8:00 a.m. ET to discuss the operational results of the second quarter. Key points of interest in the call will likely include financial performance, earnings, and other relevant metrics impacting shareholders. Investors can access the call details through the company's website.
Unum Group (NYSE: UNM) has introduced Unum Broker Connect for Employee Navigator, enhancing its decade-long partnership with the benefits administration platform. This advanced integration model aims to improve efficiency and value for Unum's broker partners.
The new system features streamlined implementation, automated plan setup, embedded evidence of insurability (EOI), and seamless data exchange. These capabilities, released in early 2024, have already contributed to significant increases in sales with both new and existing clients. Brokers can find more details on Unum's website and are encouraged to contact local sales teams for demonstrations.
Unum Group (NYSE: UNM) announced the completion of a $400 million senior note offering due in 2054 with a 6.00% annual coupon rate. The proceeds will repay $350 million of outstanding debt and associated costs, with any remaining funds allocated for general corporate purposes. Joint book-running managers included Goldman Sachs, HSBC, PNC Capital Markets, and Truist Securities. Further details are available in the prospectus supplement from June 5, 2024, on the SEC's website.
Unum Group (NYSE:UNM) has announced an upgrade in its debt and financial strength ratings by Moody's. The company’s senior unsecured debt ratings were increased from Baa3 to Baa2, while the financial strength ratings of its rated domestic subsidiaries moved up from A3 to A2. Steve Zabel, the Executive Vice President and CFO, attributed this upgrade to strong execution and a robust financial position achieved in recent years. This reflects a continuation of positive rating momentum for the company over the past year.
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