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Life Health > Health Insurance

Unum reports lower third-quarter income

By Kennebec Journal staff writer

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Insurance provider Unum Group’s third-quarter profit and revenue fell compared to a year earlier, the company reported Monday.

Still, the company’s after-tax operating income, which many investors consider the true gauge of an insurance company’s health, showed improvement compared to third-quarter 2012.

Unum, which is based in Tennessee but has a large corporate presence in Portland, reported net income of $205.7 million for the third quarter, down 11 percent from $230.2 million for the same period of 2012.

That translates to earnings per share of 78 cents for the most recent quarter, compared with 83 cents per share for the same period a year earlier.

Shares of Unum, which trades on the New York Stock Exchange under the symbol UNM, closed at $31.76 Monday, up 25 cents from Friday’s close price of $31.51.

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