The group long term care market just got shorter.
Unum became the latest in a list of carriers – and one of the market leaders – to officially bail out of the business during their fourth-quarter earnings call this week.
Other than that, according to the Chatanooga-Tenn., based carrier, things are going great. They took a $561.2 million after-tax charge after deciding to shut down the LTCI division, but otherwise reported a respectable jump in after-tax operating income, bringing in $227.6 million, or 78¢ per share The year before, the company took in $208.6 million, or 66¢ per share.
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