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UNUMPROVIDENT MAINTAINS LEAD IN GROUP, INDIVIDUAL DISABILITY INCOME
PROTECTION
CHATTANOOGA, Tenn. (June 8, 2005) – UnumProvident (NYSE: UNM)
maintained its leadership in long-term and short-term group and individual
income protection markets, according to the 2004 JHA group and individual
disability market surveys.
For the 29th consecutive year, UnumProvident or one of its predecessor companies
led the group income protection industry in both inforce business premium and
new sales. In 2004, the company maintained more than $2.6 billion in premium
for existing cases and generated approximately $237 million of new sales.
Today UnumProvident is the choice of nearly one of every four employers who
offer group disability insurance coverage – providing income protection
disability insurance to more than 11 million American workers.
“The fact that we maintained our market leadership is particularly encouraging
during a year in which we brought a greater pricing discipline to the
marketplace as we focused on profitability over growth,” said Thomas R. Watjen,
president and chief executive officer. “Our leadership in this industry and
strong customer satisfaction ratings are a testament to the outstanding efforts
of our employees and the strong value of the innovative products and services
we provide.”
UnumProvident also led the individual disability income protection market with
$1.4 billion of inforce premium on more than 1 million policies.
The annual JHA disability market surveys track and reports sales and inforce
premiums for both traditional and voluntary disability products in the group
market, and non-cancelable, guaranteed renewable, and buy-sell individual
product lines. JHA, a subsidiary of General Re Life Corporation (a Berkshire
Hathaway company) is a disability reinsurance, consulting and market research
firm. Through its market research practice and consulting work, JHA is the
leading source for information and data about the disability market. For more
information, visit www.jhaweb.com.
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