Unum Group reported a net income of $410.7 million for Q3 2022, compared to $328.6 million for Q3 2021. After-tax adjusted operating income was $303.7 million, compared to $210.5 million for the same period last year. The company's results reflect continued strong operating performance, the shift towards endemic COVID impacts, and core business premium trends nearing long-term growth expectations.
Net income of $410.7 million ($2.04 per diluted common share) for the third quarter of 2022; after-tax adjusted operating income was $303.7 million ($1.51 per diluted common share).
Core operations sales and premium growth on a constant currency basis of 14.1 percent and 3.9 percent, respectively.
Strong balance sheet with holding company liquidity of $1.1 billion and weighted average risk-based capital ratio of approximately 415 percent, providing significant financial flexibility.
Expanded hedging program to help mitigate interest rate risk in the long-term care block; notional amount entered into increased to $679.0 million through September 30, 2022.
The Company expects positive operating trends in our core business during 2022, with solid premium growth and improving claim experience as impacts from COVID-19 lessen. The Company continues to anticipate an increase in after-tax adjusted operating income per share of 40 percent to 45 percent relative to full-year 2021.
Visualization of income flow from segment revenue to net income