Unum Group Reports Q4 EPS of $.71 vs. $.69

Unum Group UNM today reported net income of $225.8 million ($0.71 per diluted common share) for the fourth quarter of 2010, compared to net income of $199.4 million ($0.60 per diluted common share) for the fourth quarter of 2009. Included in the results for the fourth quarter of 2010 are net realized after-tax investment gains of $17.2 million ($0.05 per diluted common share), compared to net realized after-tax investment losses of $18.9 million ($0.06 per diluted common share) in the fourth quarter of 2009. Net realized after-tax investment gains for the fourth quarter of 2010 include an after-tax gain of $16.1 million resulting from changes in the fair value of an embedded derivative in a modified coinsurance contract, compared to an after-tax gain of $22.7 million in the fourth quarter of 2009. Also included in net realized after-tax investment gains for the fourth quarter of 2010 are net realized after-tax investment gains of $1.1 million related to sales and write-downs of investments, compared to net after-tax losses of $41.6 million in the fourth quarter of 2009. Adjusting for these items, income on an after-tax basis was $208.6 million ($0.66 per diluted common share) in the fourth quarter of 2010, compared to $218.3 million ($0.66 per diluted common share) in the fourth quarter of 2009.