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) 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.
Unum Group, a leading provider of financial protection benefits, has launched Unum Pet Insurance in partnership with Nationwide. The pet insurance offering aims to provide coverage for pets' accidents, illnesses, wellness, and preventative care, addressing the rising costs of pet ownership. With seamless integration into Unum's voluntary benefits portfolio, the program enhances overall employee engagement and satisfaction. Unum Pet Insurance also covers emergency boarding costs, lost pet support, mortality expenses, and offers optional wellness coverage. Nationwide, with over 40 years of experience, supports the initiative, making pet insurance an attractive benefit for today's workforce.
Unum Group (UNM) has announced a 15% increase in the quarterly dividend paid on its common stock, resulting in a new rate of 42 cents per share or $1.68 annually, effective for the third quarter of 2024.
Unum Group reported a strong start to 2024 with net income of $395.2 million ($2.04 per diluted common share), marking a 13.9% growth in book value per common share over the year-ago quarter. The company increased capital deployment, accelerated share repurchases, and raised the common stock dividend by 15%. Unum US reported a 23.3% increase in adjusted operating income, with strong performance in group disability and group life businesses. Unum International saw a slight decrease in adjusted operating income. Colonial Life reported a 21.1% increase in adjusted operating income. The Closed Block segment's adjusted operating income decreased. The outlook for full-year 2024 anticipates a 7-9% increase in after-tax adjusted operating income per share compared to 2023.
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