Unum Group Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Revises Earnings Guidance for the Full Year 2018
January 31, 2018 at 04:51 pm
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Unum Group reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, total revenue was $2,839.2 million against $2,796.5 million for the same period prior year. Income before income tax was $345.3 million against $371.2 million for the same period prior year. Net income was $266.9 million or $1.19 per basic and diluted share compared to $248.0 million or $1.07 per basic and diluted share for the same period prior year.
For the full year, total revenue was $11,286.8 million against $11,046.5 million for the same period prior year. Income before income taxes was $1,404.0 million against $1,347.7 million for the same period prior year. Net income was $994.2 million or $4.37 per diluted share compared to $931.4 million or $3.95 per diluted share for the same period prior year. Book value per common share as of December 31, 2017 was $43.02, compared to $39.02 at December 31, 2016.
The company's expectation for after-tax adjusted operating income growth per share for full-year 2018 is revised to be within the range of 17% to 23%, compared to the original expectation of within a range of 4% to 7% established in December 2017 prior to the passage of tax reform legislation.
Unum Group is a provider of workplace benefits and services. The Company provides financial protection benefits in the United States and the United Kingdom (UK). Its products include disability, life, accident, critical illness, dental and vision, and other related services. The Company has three segments: Unum US, Unum International, and Colonial Life. Its Unum US segment comprises group disability, group life and accidental death and dismemberment, and supplemental and voluntary lines of business. Its Unum International segment includes its operations in the UK and Poland. Unum UK's business includes insurance for group long-term disability, group life, and supplemental lines of business which include dental, individual disability, and others. Unum Poland's business includes insurance for individual and group life with accident and health riders. Its Colonial Life segment includes accident, sickness, and disability products, life products, and cancer and critical illness products.
Unum Group Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Revises Earnings Guidance for the Full Year 2018