Confusion about where interest rates are going is adding to the pain low rates are causing for lines of business that depend heavily on investments in bonds.
Executives at Unum Group Corp. (NYSE:UNM) talked about rate-related headaches today at a conference call with securities analysts.
The company held the call to go over first-quarter earnings.
The company is reporting $229 million in net income for the quarter on $2.6 billion in revenue, compared with $213 million in net income on $2.6 billion in revenue for the first quarter of 2013.
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The U.S. group disability unit produced $69 million in operating income on $675 million in premium revenue, compared with $78 million in operating income on $693 million in premium revenue for the comparable quarter in 2013.
Group long-term disability (LTD) premium revenue fell to $384 million, from $393 million. Group short-term disability (STD) premium revenue rose to $137 million, from $131 million.