BRIEF: Unum reports higher income in first quarter

May 01--Chattanooga-based insurer Unum today reported higher first quarter net income than a year ago, reflecting a lower tax rate and a corresponding earnings per share growth rate of more than 20 percent.

"The fundamentals of our business remained strong and our overall performance largely aligned with our expectations, with good premium growth and overall stable benefits experience," said Richard P. McKenney, Unum's chief executive, in a statement.

Net income was $273.5 million, or $1.23 per diluted common share, for the first quarter compared to $229.9 million, or $1 per diluted common share, a year ago, the company reported.

Excluding net after-tax realized investment gains and losses, after-tax adjusted operating income was $275.1 million, or $1.24 per diluted common share in the first quarter of 2018.

The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.25 per share.

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