Unum Group (NYSE: UNM) today reported net income of $216.4 million ($0.76 per diluted common share) for the second quarter of 2012, compared to net income of $227.6 million ($0.74 per diluted common share) for the second quarter of 2011.
Included in the results for the second quarter of 2012 is a net after-tax loss of $8.9 million ($0.03 per diluted common share) resulting from the combined impact of net realized investment losses on the Company’s investment portfolio and the amortization of prior period actuarial losses on the Company’s pension plan. This compares to a net after-tax loss of $7.4 million ($0.02 per diluted common share) in the second quarter of 2011.
Adjusting for these items, income on an after-tax basis was $225.3 million ($0.79 per diluted common share) in the second quarter of 2012, compared to $235.0 million ($0.76 per diluted common share) in the second quarter of 2011.
“In spite on the challenging environment, I am generally pleased with the performance of most of our businesses. We continued to generate strong profitability and sales results across much of the Company, while at the same time maintaining a solid investment portfolio and capital position,” said Thomas R. Watjen, president and chief executive officer.“While remaining solidly profitable, our UK business is still not meeting our expectations, but I am confident in our plans to improve the performance in this business segment.” RESULTS BY SEGMENT In the following segment financial data, "operating revenue" excludes net realized investment gains or losses. "Operating income" or "operating loss" excludes net realized investment gains or losses, non-operating retirement-related gains or losses, and income tax. Unum US Segment Unum US reported operating income of $212.7 million in the second quarter of 2012, an increase of 3.5 percent from $205.6 million in the second quarter of 2011. Premium income for the segment increased 4.2 percent to $1,115.0 million in the second quarter of 2012, compared to premium income in the second quarter of 2011 of $1,069.8 million.
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