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.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
