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.
Continue Reading for Free
Register and gain access to:
- 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.
