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Unum Group (UNM) SEC Filing 10-K Annual report for the fiscal year ending Wednesday, December 31, 2014

Unum Group

CIK: 5513 Ticker: UNM
 
Exhibit 99.1
 
1 Fountain Square
 
Chattanooga, TN 37402
 
www.unum.com

 
FOR IMMEDIATE RELEASE
 
 
 
 
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Unum Group Reports Fourth Quarter 2014 Results

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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Inside this 10-K Annual Report

Document And Entity Information
Condensed Finacial Information Of Registrant
Condensed Financial Information Of Registrant (tables)
Parent Company Balance Sheet (detail)
Parent Company Balance Sheet (parenthetical) (detail)
Parent Company Cash Flow Statement (detail)
Parent Company Debt Schedule (detail)
Parent Company Notes - Additional Details (detail)
Parent Company Statement Of Income (detail)
Schedule Iii Supplementary Insurance Information
Schedule Iii Supplementary Insurance Information (detail)
Schedule Iv Reinsurance
Schedule Iv Reinsurance (detail)
Schedule V Valuation And Qualifying Accounts
Schedule V Valuation And Qualifying Accounts (detail)
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Comprehensive Income (parenthetical)
Consolidated Statements Of Income
Consolidated Statements Of Stockholders' Equity
Consolidated Statements Of Stockholders' Equity (parenthetical)
Accounting Updates Outstanding (details)
Accumulated Other Comprehensive Income
Accumulated Other Comprehensive Income (tables)
Activity In Allowance For Credit Losses (detail)
Amortized Cost And Fair Values Of Securities By Security Type (detail)
Assets By Segment (detail)
Basic And Diluted Earnings Per Share (detail)
Carrying Amount And Fair Value Of Financial Instruments (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
Commitments And Contingent Liabilities - Additional Information (detail)
Debt
Debt (tables)
Debt - Additional Information Domain (detail)
Debt Schedule (detail)
Derivative Financial Instruments
Derivative Financial Instruments (tables)
Derivative Financial Instruments - Additional Information (detail)
Distribution Of The Maturity Dates For Fixed Maturity Securities (detail)
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 Changes In Assets Measured At Fair Value Using Significant Unobservable Inputs (details)
Employee Benefit Plans Us Pension Assets, Fair Value Inputs (details)
Fair Value Measurements By Input Level (detail)
Fair Value Of Cash Settled Awards (details)
Fair Value Of Financial Instruments Additional Information (detail)
Fair Values Of Financial Instruments
Fair Values Of Financial Instruments (tables)
Gains And Losses On Derivativesnot Designated As Hedging Instruments (detail)
Income Tax
Income Tax (benefit)(detail)
Income Tax (tables)
Income Tax Additional Information (detail)
Intrinsic Value Of Options Exercised And Fair Value Of Options Vested (details)
Investments
Investments (tables)
Investments - Additional Information (detail)
Investments Investment Income (detail)
Investments Offsetting For Derivatives And Securities Lending Balances (details)
Investments Troubled Debt Restructurings On Financing Receivables (details)
Length Of Time Fixed Maturity Securities Had Been In A Gross Unrealized Loss Position (detail)
Liability For Unpaid Claims
Liability For Unpaid Claims (tables)
Liability For Unpaid Claims - Additional Information (detail)
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 (detail)
Mortgage Loans, Sorted By Applicable Credit Quality Indicators (detail)
Notional Amounts For Each Category Of Derivative Activity (detail)
Premium Income By Major Line Of Business Within Each Segment (detail)
Quantitative Information Regarding Significant Unobservable Inputs (details)
Realized Investment Gains And Losses Reported In Consolidated Statements Of Income (detail)
Reconciliation Of Income Tax Computed At Us Federal Tax Rates (detail)
Reconciliation Of Operating Revenue And Operating Income By Segment To Total Revenue And Income Before Income Tax (detail)
Reconciliation Of Policy And Contract Benefits And Reserves For Future Policy And Contract Benefits (detail)
Reinsurance
Reinsurance (tables)
Reinsurance - Additional Information (detail)
Reinsurance - Premium Income Data (detail)
Schedule I Summary Of Investments
Schedule I Summary Of Investments (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 Reclassifications Out Of Accumulated Other Comprehensive Income (details)
Schedule Of Unaudited Quarterly Results (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 (detail)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Activity For Psus Classified As Equity (details)
Stock-based Compensation - Additional Information (detail)
Stock-based Compensation - Cash Settled Awards Classified As Liability (details)
Stock-based Compensation - Nonvested Stock Awards Classified In Equity (detail)
Stock-based Compensation - Valuation Assumptions On Psu Grants (details)
Stock-based Compensation Expense (detail)
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)
Transfers Of Assets Between Level 1 And Level 2 (detail)
Treasury Stock Transactions (details)
Unaudited Quarterly Results
Unaudited Quarterly Results (tables)
Unaudited Quarterly Results - Additional Information (detail)
Unrecognized Tax Benefits (detail)
Valuation Assumptions On Stock Option Grants (details)
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

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