October 21, 2014 6:47 AM ET

Insurance

Company Overview of Unum Limited

Company Overview

Unum Limited provides financial protection insurance products and services in the United Kingdom. It offers group business products, such as group income protection and life, and flexible benefit solutions. The company also provides individual business protection products, including personal, primary, executive, teachers’, and essential ability cover; and client support, and online and tele-underwriting services. In addition, it offers income protection, life insurance, critical illness, and flexible benefit products, as well as financial protection services for employers and employees. Further, the company provides financial protection products and personal support services for individuals;...

Redcliffe Way

Bristol,  BS1 6NL

United Kingdom

Founded in 1970

Phone:

44 80 0783 3282

Fax:

44 11 7910 7663

Key Executives for Unum Limited

Chief Executive Officer and Director
Age: 47
Chief Financial Officer
Chief Operating Officer
Chairman
Age: 59
Head of Retail Sales & Marketing
Compensation as of Fiscal Year 2014.

Unum Limited Key Developments

Unum Limited Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013

Unum Limited reported unaudited earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported operating income of $31.3 million in the third quarter of 2013, an increase of 13.8% from $27.5 million in the third quarter of 2012. In local currency, operating income for the third quarter of 2013 increased 16.2% to GBP 20.1 million from GBP 17.3 million in the third quarter of 2012. Premium income decreased 21.6% to $137.3 million in the third quarter of 2013 compared to $175.2 million in the third quarter of 2012, due primarily to group life reinsurance agreements entered into in the first quarter of 2013. In local currency, premium income decreased 20.2% to GBP 88.4 million in the third quarter of 2013 compared to GBP 110.8 million in the third quarter of 2012. The benefit ratio in the third quarter of 2013 was 70.6% compared to 77.7% in the third quarter of 2012. The lower benefit ratio in the third quarter of 2013 reflects favorable risk experience in the group life line due primarily to the impact of the reinsurance agreements entered into in 2013. Persistency in the group long-term disability line of business was 81.9% through the first nine months of 2013, compared to 82.9% through the first nine months of 2012. Persistency in the group life line of business was 64.8% through the first nine months of 2013, compared to 80.3% through the comparable period of 2012, reflecting the company's aggressive efforts to re-price this block of business. Sales increased 1.8% to $17.3 million in the third quarter of 2013, compared to $17.0 million in the third quarter of 2012. In local currency, sales for the third quarter of 2013 increased 3.7% to GBP 11.1 million, compared to GBP 10.7 million in the third quarter of 2012, reflecting an increase in both group life and group long-term disability sales relative to the comparable period of 2012.

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