Unum Q1 2024 Earnings Report
Key Takeaways
Unum Group reported a strong start to 2024 with a net income of $395.2 million and an after-tax adjusted operating income of $409.9 million. The company saw growth in core operations premium and robust margins in group disability, group life and AD&D, and supplemental and voluntary segments. Capital deployment to shareholders increased through share repurchases and a dividend increase.
Net income reached $395.2 million, or $2.04 per diluted common share.
After-tax adjusted operating income was $409.9 million, or $2.12 per diluted common share.
Core operations premium growth was 6.6 percent on a constant currency basis.
Shareholder returns increased via accelerated share repurchases and a 15 percent dividend increase.
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Unum Revenue by Segment
Forward Guidance
Unum Group anticipates an increase in after-tax adjusted operating income per share of 7 percent to 9 percent for the full year 2024, compared to 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income