The following is a summary of the Unum Group (UNM) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Unum Group recorded a 13.6% growth in EPS to $2.12 per share, marking a record earnings level for the company.

• A 6.6% increase in core operations premium growth was noted, generating $350 million of statutory earnings.

• The company maintained strong GAAP margins, ending the quarter with holding company liquidity of $1.4 billion and an RBC of 440%.

• Plans to enhance shareholder value include doubling the share repurchase run rate to $500 million annually and increasing the shareholder dividend by 15%.

• Despite registering a lower yield in Q1, the full-year earnings target for the Closed Block business remains unaltered.

Business Progress:

• Unum U.S. continues to improve the operations of employer clients with its group products, resulting in persistency exceeding 90%.

• Robust premium growth of nearly 17% was seen in Unum International, with continued growth expected in their U.K. business.

• Margins in Colonial Life segment stay strong, leading to a ROE of nearly 20% and a 4% increase in premiums.

• The company intends to explore growth opportunities in core businesses while reducing Closed Block exposure in 2024.

• The GATHER technology performance aids positive retention, and the company plans to focus on growing the business organically and through M&A.

• Unum plans to offer strategies for distinct market segments, using offerings like GATHER and the MyUnum platform to ensure fair pricing for acquisition and renewals.

• The outlook on the current employment scenario is positive, and it is viewed as an opportunity to enhance Unum's offerings.

More details: Unum Group IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.