Unum's Watgen Says 4th Quarter Was "Good Close To An Overall Solid Year"

Tuesday, February 5, 2013

Unum, in a fourth quarter report, listed a rise in net income. The income, which includes certain non-operating items, was $233.9 million, or 85¢ per share, compared to a net loss of $369 million, or $1.26 per share, a year ago.

Unum President and CEO Tom Watjen describes the company’s fourth quarter 2012 financial results “a good close to an overall solid year.”

The company reported operating earnings per share growth of just over 5 percent. After-tax operating income for the quarter was $225 million, or 82 cents per share, compared to $228.

2 million, or 78 cents per share, in the fourth quarter of 2011.

Highlights for the quarter include:

  • Operating income for Unum US increased 2 percent to $212.2 million, with premium income rising by more than 3 percent.
  • Results for Unum UK, while still down over last year, showed improvement from the prior quarter. While most of the improvement came from the group disability line, the UK group life business – which has been the primary challenge – stabilized in the quarter.
  • Colonial Life reported operating income of $68.3 million, a more than 5 percent increase over the same quarter of 2011. Premium income increased by 4.4 percent.
  • Operating income in the Closed Block, which includes those business lines the company still services but doesn’t actively sell, increased over the third quarter through a slight improvement in risk experience.
  • Investment performance remains very strong.
  • Importantly, the company continues to maintain a very solid capital position. During the quarter it repurchased another $100 million of its stock, bringing repurchases to $500 million for the full year and more than $2 billion since 2007.

“There are many measures of performance,” Mr. Wajen said in a letter to employees. “But one is earnings per share, which we have now grown for seven consecutive years ... While there are still challenges ahead, we are well-positioned to confront these challenges and capitalize on the opportunities in 2013, and in doing so continue to create value for all of our stakeholders.”


State Representative Kevin Brooks Encourages Residents To Utilize Annual Sales Tax Holiday

With the beginning of a new school year right around the corner, State Representative Kevin Brooks is encouraging the families who live in House District 24 to utilize the state’s annual sales tax holiday to save on items such as clothing, school and art supplies, as well as computer purchases.   The state’s annual Tax Free Weekend is set for July 28-30. It begins at 12:01 ... (click for more)

Photo Gallery: Pinnacle Financial Partners Opens New Office On Shallowford Road In East Hamilton County

Woman Arrested In Murder Of Eric Burchfield In Hixson; Mother Of Victim Said, "Ember Killed Him"

A woman has been arrested in the murder of 28-year-old Eric Burchfield in Hixson early Friday morning. Police identified her as Ember Lee Cash Elm. She was booked as Emily Leanne Brooks Johnson, 26, of 4024 Woodmont Dr. At 3:25 a.m., Chattanooga Police responded to a person who had been shot at the Kangaroo Express at 4849 Hixson Pike. Officers were on regular ... (click for more)

Bradley County Sheriff Eric Watson Booked At County Jail; Says He Is Not Guilty

Bradley County Sheriff Eric Watson was booked at the Bradley County Jail Friday morning. He faces six separate charges of altering/falsifying/forging a title plate assignment. Sheriff Watson, a former state legislator, posted a $30,000 bond. He issued this statement, "For more than a year, I have confronted numerous accusations from some who desire to have more control ... (click for more)

Do Something To Protect Our Children

It is unconscionable in this day and age that these children had to exist in such deplorable conditions and that an innocent baby suffered and died alone in a locked car.  Yes, there is blame and accountability considering this family had child neglect charges filed a few years ago (that were apparently dropped and expunged) and a large part of the responsibility should ... (click for more)

Roy Exum: My Dear Friend Jake

Two weeks ago four of us piled in a car to go down to Canton, Ga., so we could tell Jake Butcher goodbye. Bob McKamey, former mayor Ron Littlefield, a dazzling guy named Steve Wilson, and myself. This would be the last time any of us would see Jake. It was a spectacular day and anyone who doesn’t believe in such goodbyes is missing out on the greatest moment in their life. It is ... (click for more)