Unum reports higher operating income on core business

Feb. 05--Chattanooga-based disability insurer Unum Group today reported that fourth quarter after-tax adjusted operating income was up from a year ago on positive trends in its core business.

"These trends continue to produce solid margins and strong cash flow," said Richard P. McKenney, Unum's president and chief executive officer, in a statement.

After-tax adjusted operating income was $281.7 million in the latest quarter, or $1.30 per diluted common share, up from $253.6 million, or $1.13 per diluted common share, from a year ago, the company reported after the close of the markets.

McKenney said the company's operating performance "reflects the disciplined execution of our plans and the strategic positioning we enjoy in our markets."

Net income of $249.1 million, or $1.15 per diluted common share, in the quarter fell from net income of $266.9 million, or $1.19 per diluted common share, for the fourth quarter of 2017, according to Unum.

Included in net income for the fourth quarter of 2018 is a net after-tax realized investment loss of $32.6 million, or 15 cents per diluted common share, on the company's investment portfolio.

See more in Wednesday's Times Free Press.

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