Second quarter financial results for Unum US capped a strong first half of the year. Operating income rose slightly to $218.8 million, an increase of 2.2 percent over the second quarter of last year. Sales increased 40 percent, a sharp jump from last year when market activity was much slower, in large part due to the implementation of health care reform.
The notably consistent performance of Unum US has been driven by commitment to client relationships, strong customer service and a collective focus on business goals. The results have enabled investments in products, service, technology, and communication that deliver what benefits partners, clients and consumers need in today’s changing marketplace.
In the second quarter, we launched new support for our large customers in managing the requirements of the Americans with Disabilities Act.
We’ve been making significant investments in the technology, communications and methodologies that support benefits enrollment. This fall we will be implementing some enhancements that will further simplify the decision-making process for employees and reinforce their buying decisions.
Unum Group reported after-tax operating income for the quarter was $234.8 million, or 91¢ per share, compared to $218.5 million, or 82¢ per share, in the second quarter of 2013. Net income was $242.5 million, or 94¢ per share, compared to $218.6 million, or 82¢ a share, a year ago.
“It was another very good quarter for us, rounding out a strong first half of the year,” said President and CEO Tom Watjen. “We are well-positioned to capitalize on the opportunities ahead to profitably grow our business by continuing to focus on the things that have contributed to our past success – solid plans, disciplined execution of these plans, and our employees doing their part to support our customers and business.”
In addition to Unum US results above, here are business segment highlights from the quarter: