Unum Q2 2021 Earnings Report
Key Takeaways
Unum Group reported a net income of $182.9 million for the second quarter of 2021. The results reflect an improving trend in mortality, strong returns in the alternative invested asset portfolio, and strengthening macroeconomic conditions. The company increased its full-year 2021 outlook, now expecting after-tax adjusted operating income per share to decline 1% to 3% relative to full-year 2020.
Net income for Q2 2021 was $182.9 million ($0.89 per diluted common share); after-tax adjusted operating income was $286.2 million ($1.39 per diluted common share).
Results reflect improving trend in mortality, strong returns in alternative invested asset portfolio, and strengthening macroeconomic conditions.
Strong balance sheet and liquidity with holding company cash of $1.7 billion; weighted average risk-based capital ratio of approximately 375 percent.
Full-year 2021 outlook increased; after-tax adjusted operating income per share now expected to decline 1 percent to 3 percent relative to full-year 2020, compared to an expected decline of 5 percent to 6 percent previously.
Unum
Unum
Unum Revenue by Segment
Forward Guidance
The Company expects a decline of approximately 1 percent to 3 percent in after-tax adjusted operating income per share for full-year 2021 relative to full-year 2020.
Positive Outlook
- Improved full-year 2021 outlook.
- Strong second quarter performance.
- Revised expectations for COVID impacts in the second half of the year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income