Last10K.com

Unum Group (UNM) SEC Filing 10-K Annual Report for the fiscal year ending Friday, December 31, 2021

SEC Filings

Unum Group

CIK: 5513 Ticker: UNM
Exhibit 99.1
image.jpg
1 Fountain Square
Chattanooga, TN 37402
www.unum.com
FOR IMMEDIATE RELEASE
Contacts

image1.jpg

MEDIANatalie Godwin
ngodwin@unum.com
INVESTORSTom White 423-294-8996
tawhite@unum.com

Unum Group Reports Fourth Quarter 2021 Results

Net income of $159.7 million ($0.78 per diluted common share) for the fourth quarter of 2021; after-tax adjusted operating income was $182.0 million ($0.89 per diluted common share).

Results reflect impact of high COVID-related mortality and infection levels, growth in premium income, and continued strong returns in alternative invested asset portfolio.

Strong balance sheet and liquidity with holding company cash of $1.5 billion; weighted average risk-based capital ratio of approximately 395 percent.

In addition to stable dividends, capital deployment expanded with repurchase of $50 million of shares.

Book value per common share of $56.37 grew 5.6 percent over the year-ago quarter.

CHATTANOOGA, Tenn. (February 1, 2022) - Unum Group (NYSE: UNM) today reported net income of $159.7 million ($0.78 per diluted common share) for the fourth quarter of 2021, compared to net income of $135.4 million ($0.66 per diluted common share) for the fourth quarter of 2020.

Included in net income for the fourth quarter of 2021 is the amortization of the after-tax cost of reinsurance of $15.5 million ($0.08 per diluted common share), as well as a net after-tax investment loss on the Company’s investment portfolio of $6.8 million ($0.03 per diluted common share). Included in net income for the fourth quarter of 2020 is the net after-tax gain from the Closed Block individual disability reinsurance transaction of $32.0 million ($0.16 per diluted common share), an after-tax reserve increase related to assumption updates of $133.5 million ($0.66 per diluted common share), and a net after-tax investment gain on the Company’s investment portfolio, excluding the net after-tax realized investment gain associated with the Closed Block individual disability reinsurance transaction, of $1.6 million ($0.01 per diluted common share). Excluding the items above, after-tax adjusted operating income was $182.0 million ($0.89 per diluted common share) in the fourth quarter of 2021, compared to $235.3 million ($1.15 per diluted common share) in the fourth quarter of 2020.

“Our business continued to gain momentum in the fourth quarter, with solid premium growth and favorable returns on our investment portfolio. We maintained our strong capital position and entered 2022 well positioned for growth, yet our elevated claims experience is a reminder of the impact COVID continues to have on our world,” said Richard P. McKenney, president and chief executive officer. “During the quarter, we repurchased $50 million of our shares, reflecting our confidence in the strength of our business, as well our commitment to generating value for shareholders. Our purpose remains clear, and our people continue to demonstrate sustained resilience in serving our customers.”


UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES.

The following information was filed by Unum Group (UNM) on Tuesday, February 1, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Unum Group's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Unum Group.

Continue

Assess how Unum Group's management team is paid from their Annual Proxy

Definitive Proxy Statement (Form DEF 14A)
Screenshot example of actual Proxy Statement

Unum Group's Definitive Proxy Statement (Form DEF 14A) filed after their 2022 10-K Annual Report includes:

  • Voting Procedures
  • Board Members
  • Executive Team
  • Salaries, Bonuses, Perks
  • Peers / Competitors

Continue

Tools

Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (Parenthetical)
Statement Of Comprehensive Income (Parenthetical)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Tables)
Amortized Cost And Fair Values Of Securities By Security Type (Detail)
Assets By Segment (Detail)
Basic And Diluted Earnings Per Share (Detail)
Changes In Assets And Liabilities Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs (Level 3) (Detail)
Commitments And Contingent Liabilities
Debt
Debt (Tables)
Debt - Additional Information (Details)
Debt Schedule (Detail)
Debt Securities, Available-For-Sale, Allowance For Credit Losses Rollforward (Details)
Derivative Financial Instruments
Derivative Financial Instruments (Tables)
Derivative Financial Instruments - Additional Information (Detail)
Derivative Financial Instruments Fair Value Hedges Carrying Amount Of Hedged Assets And Liabilities And Cumulative Basis Adjustments (Details)
Derivative Financial Instruments Location Of Gains And Losses Designated As Hedging Instruments, Consolidated Statements Of Income (Details)
Derivative Financial Instruments Nature And Amount Of Collateral Received From And Posted To Our Derivative Counterparties (Details)
Employee Benefit Plans
Employee Benefit Plans (Tables)
Employee Benefit Plans - Additional Information (Detail)
Employee Benefit Plans Amounts Recognized In Balance Sheet (Details)
Employee Benefit Plans Amounts Recognized In Other Comprehensive Income (Details)
Employee Benefit Plans Change In Projected Benefit Obligation Amount (Details)
Employee Benefit Plans Expected Benefit Payments (Details)
Employee Benefit Plans Measurement Assumptions (Details)
Employee Benefit Plans Net Periodic Benefit Cost (Detail)
Employee Benefit Plans Opeb Changes In Assets Measured At Fair Value Using Signficant Unobservable Inputs (Details)
Employee Benefit Plans Opeb Plan Assets, Fair Value Measurements By Input Level (Details)
Employee Benefit Plans Uk Pension Assets, Fair Value Measurement By Input Level (Details)
Employee Benefit Plans Us Pension Assets, Fair Value Measurement By Input Level (Details)
Fair Value Measurements By Input Level (Detail)
Fair Value Of Financial Instruments Additional Information (Detail)
Fair Values Of Financial Instruments
Fair Values Of Financial Instruments (Tables)
Fair Values Of Financial Instruments Carrying Amounts And Estimated Fair Value Of Financial Instruments Not Measured At Fair Value (Details)
Fair Values Of Financial Instruments Private Equity Partnerships (Details)
Gains And Losses On Derivatives Not Designated As Hedging Instruments (Detail)
Income Tax
Income Tax (Tables)
Income Tax Additional Information (Detail)
Income Tax Expense (Benefit) (Detail)
Intrinsic Value Of Options Exercised And Fair Value Of Options Vested (Details)
Investment Gains And Losses Reported In Consolidated Statements Of Income (Detail)
Investments
Investments (Tables)
Investments - Additional Information (Detail)
Investments Distribution By External Credit Rating For Fixed Maturity Securities (Details)
Investments Distribution Of The Maturity Dates For Fixed Maturity Securities (Details)
Investments Federal Home Loan Bank Carrying Amount, Collateral Posted And Advances Received (Details)
Investments Investment Income (Detail)
Investments Low Income Housing Tax Credits (Details)
Investments Remaining Contractual Maturity Of Security Lending Agreements (Details)
Investments Schedule Of Financial Instrument And Derivative Offsetting (Details)
Leases
Leases (Tables)
Leases - Additional Information (Details)
Leases, Cost (Details)
Length Of Time Fixed Maturity Securities Had Been In A Gross Unrealized Loss Position (Detail)
Lessee, Operating Lease, Liability, Payment, Due (Details)
Liability For Unpaid Claims - Additional Information (Detail)
Liability For Unpaid Claims And Claim Adjustment Expenses
Liability For Unpaid Claims And Claim Adjustment Expenses (Tables)
Liability For Unpaid Claims And Claims Adjustment Expense (Detail)
Location And Fair Values Of Derivative Financial Instruments (Detail)
Location Of Gains And Losses On Derivative Instruments Designated As Cash Flow Hedging Instruments (Detail)
Mortgage Loans By Property Type And Geographic Region (Details)
Mortgage Loans Sorted By Applicable Credit Quality Indicators (Detail)
Mortgage Loans, Allowance For Credit Losses Rollforward (Details)
Notional Amounts For Each Category Of Derivative Activity (Detail)
Parent Company Balance Sheet (Detail)
Parent Company Cash Flow Statement (Detail)
Parent Company Debt Schedule (Detail)
Parent Company Notes - Additional Details (Details)
Parent Company Statement Of Income (Detail)
Premium Income By Major Line Of Business Within Each Segment (Detail)
Quantitative Information Regarding Significant Unobservable Inputs (Details)
Reconciliation Of Income Tax Computed At Us Federal Tax Rates (Detail)
Reconciliation Of Policy And Contract Benefits And Reserves For Future Policy And Contract Benefits (Detail)
Reconciliation Of Total Revenue And Income Before Income Tax To Operating Revenue And Operating Income (Detail)
Reinsurance
Reinsurance (Tables)
Reinsurance - Additional Information (Detail)
Reinsurance - Premium Income Data (Detail)
Schedule I - Summary Of Investments, Other Than Investments In Related Parties Schedule I - Summary Of Investments, Other Than Investments In Related Parties
Schedule I - Summary Of Investments, Other Than Investments In Related Parties Schedule I - Summary Of Investments, Other Than Investments In Related Parties (Details)
Schedule Ii Condensed Finacial Information Of Registrant
Schedule Ii Condensed Financial Information Of Registrant (Tables)
Schedule Iii Supplementary Insurance Information
Schedule Iii Supplementary Insurance Information (Detail)
Schedule Iv Reinsurance
Schedule Iv Reinsurance (Detail)
Schedule Of Accumulated Other Comprehensive Income (Details)
Schedule Of Components Of Unrealized Gain (Loss) On Securities (Details)
Schedule Of Deferred Income Tax Assets And Liabilities (Detail)
Schedule Of Income Subject To Domestic And Foreign Taxation (Detail)
Schedule Of Participating Mortgage Loans By Internal Credit Rating And Loan To Value (Details)
Schedule Of Reclassifications Out Of Accumulated Other Comprehensive Income (Details)
Schedule V Valuation And Qualifying Accounts
Schedule V Valuation And Qualifying Accounts (Detail)
Segment Information
Segment Information (Tables)
Segment Information Deferred Acquisition Costs By Segment (Details)
Segment Information Segments - Additional Information (Detail)
Selected Operating Statement Data By Segment (Detail)
Signficant Accounting Policies (Policies)
Significant Accounting Policies
Significant Accounting Policies (Tables)
Significant Accounting Policies - Additional Information (Detail)
Statutory Financial Information
Statutory Financial Information (Detail)
Statutory Financial Information (Tables)
Statutory Financial Information - Additional Details (Detail)
Stock Option Activity (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Activity For Cash-Settled Rsus (Details)
Stock-Based Compensation - Activity For Cius (Details)
Stock-Based Compensation - Activity For Psus Classified As Equity (Details)
Stock-Based Compensation - Activity For Ssus (Details)
Stock-Based Compensation - Additional Information (Details)
Stock-Based Compensation - Nonvested Stock Awards Classified In Equity (Details)
Stock-Based Compensation - Valuation Assumptions On Ciu Grants (Details)
Stock-Based Compensation - Valuation Assumptions On Psu Grants (Details)
Stock-Based Compensation Expense (Details)
Stockholders' Equity And Earnings Per Common Share
Stockholders' Equity And Earnings Per Common Share (Tables)
Stockholders' Equity And Earnings Per Common Share - Additional Information (Detail)
Treasury Stock Transactions (Details)
Unrecognized Tax Benefits (Detail)
Ticker: UNM
CIK: 5513
Form Type: 10-K Annual Report
Accession Number: 0000005513-22-000030
Submitted to the SEC: Fri Feb 25 2022 4:22:22 PM EST
Accepted by the SEC: Fri Feb 25 2022
Period: Friday, December 31, 2021
Industry: Accident And Health Insurance

External Resources:
Stock Quote
Social Media

Bookmark the Permalink:
https://last10k.com/sec-filings/unm/0000005513-22-000030.htm