US-based insurer Unum group has reported a net loss of $425.4m,or $1.45 diluted loss per share, for the fourth quarter of 2011, compared to a net income of $225.8m, or $0.71 diluted earnings per share, for the same period in 2010.
The total revenues for the fourth quarter of 2011 increased to $2.6bn, compared to $2.59bn for the same period in the prior year.
The company’s operating income from its UK segment rose 11.6% to $53.7m, compared to $48.1m for the same period a year ago.
Unum’s US segment reported an operating income of $208.6, up 7.5%, compared to $194m for the same period in the previous year.
Unum group president and CEO Thomas Watjen said that their decision to discontinue new sales of group long term care policies for the first quarter of 2012 and move business to the closed block will allow them to further refine focus on the markets that provide greatest long-term opportunities for the company and create maximum value for the shareholders.