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CHATTANOOGA, Tenn. - Unum Group (NYSE:UNM) reported fourth quarter earnings that fell short of analyst expectations, sending shares down over 5% in after-hours trading.
The insurance company posted adjusted earnings per share of $2.03, missing the consensus estimate of $2.14. Revenue came in at $3.24 billion, below the $3.29 billion analysts were expecting.
For the fourth quarter, Unum’s premium income increased 3.1% year-over-year to $2.63 billion. Net investment income rose 2.4% to $543.6 million.
The company’s Unum US segment, its largest business unit, saw adjusted operating income decline 2.6% to $333.2 million. The Colonial Life segment reported a 39.7% jump in adjusted operating income to $122.7 million.
"We delivered another year of strong performance in 2024, reflecting the continued positioning of our business and focus on our customers," said Richard P. McKenney, president and CEO of Unum Group. "Demand for our solutions remains robust, as reflected in our excellent fourth quarter sales performance."
Looking ahead, Unum provided a full-year 2025 outlook for 8-12% growth in after-tax adjusted operating income per share compared to 2024’s result of $8.44 per share.
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