While higher interest rates are a plus for financial companies such as Unum as government regulators try to stem inflation, the increases need to be measured, a top official for the insurer said Friday.
Also, wage inflation could bring higher insurance premiums for customers of Chattanooga-based Unum, said Martha Leiper, the company's executive vice president and chief investment officer.
Because of what Leiper termed "a perfect storm" that included loose monetary policy and supply chain disruptions, the nation's Federal Reserve Board has indicated higher interest rates are coming to stop inflation. Higher rates tend to help Unum because of its massive investment portfolio.
Read the Times Free Press article.
About Unum Group
Unum (NYSE: UNM), an international provider of workplace benefits and services, has been helping workers and their families for more than 170 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, vision and stop-loss insurance; leave and absence management support and behavioral health services. In 2021, Unum reported revenues of $12.0 billion and paid $8.2 billion in benefits. The Fortune 250 company is one of the 2022 World’s Most Ethical Companies, recognized by the Ethisphere® Institute.
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