Unum Group Corp. pulled U.S. employers away from health benefits seminars long enough in the second quarter to sell them some group disability insurance.
Group long-term disability (LTD) insurance sales increased 43 percent, to $47 million, and group short-term disability (STD) insurance sales increased 25 percent, to $23 million.
Unum (NYSE:UNM) published those figures Wednesday in an earnings announcement. The company is best known for U.S. disability insurance sales but also owns Colonial Life, a large voluntary benefits insurer, and a disability insurance business in the United Kingdom.
The company is reporting $242 million in net income for the latest quarter on $2.7 billion in revenue, compared with $219 million in net income on $2.6 billion in revenue for the second quarter of 2013.
The U.S. disability business generated $74 million in operating income for the quarter on $524 million in revenue, compared with $73 million in net income on $524 million in revenue for the comparable quarter in 2013. Claim incidence rates were stable, and the benefit ratio fell to 81.9 percent, from 83.9 percent.