Unum Group (UNM) has reported a 9.16 percent rise in profit for the quarter ended Mar. 31, 2017. The company has earned $229.90 million, or $1 a share in the quarter, compared with $210.60 million, or $0.88 a share for the same period last year.
Revenue during the quarter went up marginally by 2.98 percent to $2,806.50 million from $2,725.40 million in the previous year period. Net premium earned for the quarter went up marginally by 2.65 percent or $55.40 million to $2,142.90 million.
Total expenses move up marginally Benefits, losses and expenses for the quarter were at $2,476.20 million, or 115.55 percent of premium earned from $2,421.20 million or 115.99 percent of premium earned in the last year period. Operating income for the quarter was $330.30 million, compared with $304.20 million in the previous year period.
Net investment income was at $602.40 million for the quarter, down 0.66 percent or $4 million from year-ago period. The company has recorded a gain on investments of $11 million in the quarter compared with a loss of $20.50 million for the previous year period.
"Our first quarter financial results were a very good start to 2017, and continued many of the positive operating trends we experienced in 2016," said Richard P. McKenney, president and chief executive officer. "Our record earnings levels and overall consistent performance demonstrate the single minded focus on serving our customers and the disciplined execution of our strategy."
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