This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Unum Group Reports Second Quarter 2013 Results

Unum Group (NYSE: UNM) today reported net income of $218.6 million ($0.82 per diluted common share) for the second quarter of 2013, compared to net income of $216.4 million ($0.76 per diluted common share) for the second quarter of 2012.

Included in the results for the second quarter of 2013 is a net after-tax gain of $0.1 million (less than a penny per diluted common share) resulting from the combined impact of realized investment gains and losses on the Company’s investment portfolio and the amortization of prior period actuarial losses on the Company’s pension plans. This compares to a net after-tax loss of $8.9 million ($0.03 per diluted common share) in the second quarter of 2012. Adjusting for these items, after-tax operating income was $218.5 million ($0.82 per diluted common share) in the second quarter of 2013, compared to $225.3 million ($0.79 per diluted common share) in the second quarter of 2012.

“Driven primarily by very good risk results across our core business lines, operating performance in the second quarter remained strong with solid returns in our core business segments. I am also encouraged by the performance we are seeing in those areas which had been operating below our expectations, especially in our Unum UK segment where the repricing actions we are taking are beginning to emerge in our results,” said Thomas R. Watjen, president and chief executive officer. “While sales growth continues to be a challenge in the US, we remain committed to maintaining the pricing and underwriting discipline that has served us so well in the past. Although the environment is expected to gradually improve, it still remains challenging, and we will continue to take the actions necessary to maintain the momentum we have worked so hard to create at the Company.”

RESULTS BY SEGMENT

Unum US Segment

Unum US reported operating income of $214.0 million in the second quarter of 2013, an increase of 0.6 percent from $212.7 million in the second quarter of 2012. Premium income for the segment increased 1.5 percent to $1,131.5 million in the second quarter of 2013, compared to premium income of $1,115.0 million in the second quarter of 2012.

1 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 18,070.40 +46.34 0.26%
S&P 500 2,114.49 +6.20 0.29%
NASDAQ 5,016.9290 +11.5380 0.23%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs