Unum Group (UNM) 10-K Annual Report Wed Feb 25 2015

CHATTANOOGA, Tenn. (February 3, 2015) - Unum Group (NYSE: UNM) today reported a net loss of $279.1 million ($1.11 per common share) for the fourth quarter of 2014, compared to net income of $221.2 million ($0.84 per common share) for the fourth quarter of 2013.

Included in the net loss for the fourth quarter of 2014 is an after-tax reserve charge of $453.8 million ($1.80 per common share) in the long-term care closed block, as well as the amortization of prior period actuarial losses on the Company’s pension plans, a settlement loss from a pension plan amendment, and a net realized investment loss, the combined impact of which resulted in an after-tax loss of $54.1 million ($0.21 per common share). The fourth quarter of 2013 included reserve adjustments for a reserve increase related to unclaimed death benefits ($62.1 million after-tax, or $0.24 per common share) and a reserve reduction related to group life waiver of premium benefits ($55.2 million after-tax, or $0.21 per common share), as well as a net realized investment gain and a non-operating retirement-related loss, the combined impact of which resulted in a net after-tax gain of $4.3 million ($0.02 per common share). Additional details regarding the long-term care closed block reserve charge and pension plan amendment loss are included in the Other Information section of this release.

Adjusting for the items above, operating income on an after-tax basis was $228.8 million ($0.90 per common share) in the fourth quarter of 2014, compared to $223.8 million ($0.85 per common share) in the fourth quarter of 2013.

“I am very pleased with the way we finished 2014, with continued solid margins in our core businesses and one of the strongest quarterly premium growth rates we’ve seen in many years,” said Thomas R. Watjen, president and chief executive officer. “Our top line growth was driven by a balance of strong sales results, solid persistency and continued success with our ongoing renewal and re-pricing actions. Today’s low interest rate environment, though, creates significant challenges for us and for our industry, and we are taking the steps within our core businesses to maintain the solid margins and financial flexibility we’ve worked so hard to attain. In our Closed Block, we strengthened our long-term care reserves this quarter to better position this business for a sustained, difficult environment.”



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 3, 2015 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.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Material Contracts, Statements, Certifications & more

Unum Group provided additional information to their SEC Filing as exhibits

Exhibit 10.3: Material Contract

Exhibit 10.4: Material Contract

Exhibit 10.35: Material Contract

Exhibit 12: Statement Regarding Calculation Of Ratios

Exhibit 21: Subsidaries Of The Registrant

Exhibit 23: Consents Of Experts And Counsel

Exhibit 24: Power Of Attorney

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32.1: Section 1350 Certification

Exhibit 32.2: Section 1350 Certification

Ticker: UNM
CIK: 5513
Form Type: 10-K Annual Report
Accession Number: 0000005513-15-000010
Submitted to the SEC: Wed Feb 25 2015 1:50:49 PM EST
Accepted by the SEC: Wed Feb 25 2015
Period: Wednesday, December 31, 2014
Industry: Accident And Health Insurance