Unum Group Reports Robust Q3 2024 Earnings

Unum Group ( (UNM) ) has realeased its Q3 earnings. Here is a breakdown of the information Unum Group presented to its investors.

Unum Group is a leading international provider of workplace benefits and services, offering disability, life, accident, critical illness, dental, and vision insurance along with leave and absence management support and behavioral health services. In its third quarter of 2024 earnings report, Unum Group announced a substantial increase in net income, reaching $645.7 million, up from $202.0 million in the same quarter of the previous year. The company highlighted growth in its core operations with a 4.6 percent increase in premium growth on a constant currency basis and maintained strong margins across its business segments. Notably, the Unum US segment experienced a modest increase in adjusted operating income, with particular strength in the group life and accidental death and dismemberment lines of business. Meanwhile, the Unum International segment showed significant growth in both premium income and sales. The Colonial Life segment also reported an increase in adjusted operating income, supported by stable premium income and favorable benefit experiences. Looking ahead, Unum Group remains confident in achieving its full-year 2024 earnings outlook, expecting a 10 to 15 percent increase in after-tax adjusted operating income per share compared to the previous year.