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![]() | Exhibit 99.1 | |
1 Fountain Square | ||
Chattanooga, TN 37402 | ||
www.unum.com |
FOR IMMEDIATE RELEASE | |||
news | Contacts | ||
INVESTORS | Tom White | 423 294 8996 | |
MEDIA | Mary Fortune | 423 294 6368 | |
UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. |
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Unum Group's Definitive Proxy Statement (Form DEF 14A) filed after their 2019 10-K Annual Report includes:
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The accounting estimates deemed to be most critical to our financial position and results of operations are those related to reserves for policy and contract benefits, deferred acquisition costs, valuation of investments, pension and postretirement benefit plans, income taxes, and contingent liabilities.
It is possible that variability in any of our reserve assumptions, including, but not limited to, interest rates, mortality, morbidity, resolutions, premium rate increases, benefit change elections, and persistency, could result in a material impact on the adequacy of our reserves, including adjustments to reserves established under loss recognition.
Our other expense ratio decreased in the second quarter and first six months of 2019 compared to the same periods of 2018 due primarily to the timing of certain expenses and our continued focus on expense management and operating efficiencies balanced with operational investments in our business.
The lower interest rate environment will continue to have an unfavorable impact on our profit margins, and volatility in miscellaneous investment income is likely to continue.
Benefits experience was less favorable for the individual disability product line in the second quarter and first six months of 2019 compared to the same periods of 2018 due primarily to unfavorable claims activity and less favorable mortality experience.
As measured in local currency,...Read more
Benefits experience was unfavorable in...Read more
We expect to see growth...Read more
Based on our analysis, during...Read more
We anticipate continued stable adjusted...Read more
Our current share repurchase program...Read more
A decrease in demand for...Read more
The reduction in the corporate...Read more
Interest and other expenses were...Read more
We believe that consistent operating...Read more
Our overall investment philosophy is...Read more
Although our profit margins continue...Read more
Benefits experience for voluntary benefits...Read more
Estimates and assumptions could change...Read more
The deferral of acquisition costs...Read more
As a result, we view...Read more
Premium income increased in the...Read more
The deferral of acquisition costs...Read more
We may see some continued...Read more
Investment income growth is dependent...Read more
A downgrade of our financial...Read more
The low interest rate environment...Read more
Our Unum International segment reported...Read more
Premium income for individual disability...Read more
Operating Results Net investment income...Read more
Our 65 65 weighted average...Read more
Sales, persistency of the existing...Read more
75 75 Premium income increased...Read more
To manage our cash position...Read more
However, deterioration in the credit...Read more
Sales 76 76 Group sales...Read more
At June 30, 2019, our...Read more
We will continue to focus...Read more
We believe employer-sponsored benefits represent...Read more
Benefits experience was favorable in...Read more
Credit exposure on derivatives is...Read more
Premium income in the second...Read more
This increase was primarily driven...Read more
Financial strength ratings are specific...Read more
We believe after-tax adjusted operating...Read more
Premium income continues to decline,...Read more
Segment Outlook We are committed...Read more
The amortization of deferred acquisition...Read more
A reconciliation of GAAP financial...Read more
Other expenses, including compensation expense,...Read more
We will maintain our commitment...Read more
Overall benefits experience was consistent...Read more
Dental and vision sales increased...Read more
This discussion and analysis should...Read more
We recognize investment income 91...Read more
Segment Outlook We will continue...Read more
The effective yield is recalculated...Read more
Group life sales were higher...Read more
The other expense ratio was...Read more
We have simplified our processes...Read more
The other expense ratio was...Read more
Other income increased in the...Read more
Our net investment income may...Read more
We believe our underlying profitability...Read more
Net investment income was lower...Read more
Premium income growth is dependent...Read more
We will likely experience volatility...Read more
We do not have exposure...Read more
In our approach to investing...Read more
74 74 Commissions were higher...Read more
We have established an investment...Read more
Commissions were slightly higher for...Read more
Fixed Maturity Securities - Foreign...Read more
Premium income increased in the...Read more
Also impacting the comparison for...Read more
Other key priorities, specifically for...Read more
Persistency was favorable relative to...Read more
When market opportunities arise, we...Read more
We may at times also...Read more
Investment income from inflation index-linked...Read more
Other income increased in the...Read more
We believe the need for...Read more
Trends in new sales, as...Read more
The decrease in the unrealized...Read more
Generally, our investment strategy for...Read more
We had $5.8 million of...Read more
Unum US sales increased 12.1...Read more
Supplemental sales increased during the...Read more
Ratings AM Best, Fitch Ratings...Read more
Transfers of Financial Assets Our...Read more
These commitments are recognized as...Read more
If 2018 results had been...Read more
Partially offsetting the increase was...Read more
Our effective income tax rates...Read more
Public sector market sales were...Read more
We will continue to focus...Read more
Cash is applied to the...Read more
Because we see important links...Read more
In May 2018, we issued...Read more
Group long-term disability sales decreased...Read more
We believe we are well...Read more
Actual prepayment experience is reviewed...Read more
Investing Cash Flows Investing cash...Read more
We intend to build upon...Read more
The change in net investment...Read more
Our effective tax rate differed...Read more
The low interest rate environment...Read more
We expect to see continued...Read more
Our reported consolidated financial results...Read more
Under the terms of the...Read more
We also anticipate a decline...Read more
As of June 30, 2019,...Read more
2018 Long-term Care Reserve Increase...Read more
Benefits experience was unfavorable in...Read more
Unum Group's liquidity requirements are...Read more
The other expense ratio improved...Read more
Also contributing to the increase...Read more
Sales shown in the preceding...Read more
81 81 Colonial Life Segment...Read more
Derivative Financial Instruments We use...Read more
However, in the event that...Read more
Benefits experience in the first...Read more
Long-term care benefits experience in...Read more
Benefits experience in our individual...Read more
A reconciliation of total revenue...Read more
Colonial Life sales decreased 4.2...Read more
Cash flows from the in-force...Read more
The net unrealized gain on...Read more
See Note 13 of the...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-Q Quarterly Report
Material Contracts, Statements, Certifications & more
Unum Group provided additional information to their SEC Filing as exhibits
Ticker: UNM
CIK: 5513
Form Type: 10-Q Quarterly Report
Accession Number: 0000005513-19-000122
Submitted to the SEC: Wed Jul 31 2019 7:52:35 AM EST
Accepted by the SEC: Wed Jul 31 2019
Period: Sunday, June 30, 2019
Industry: Accident And Health Insurance