Unum Group ended 2015 with better-than-expected earnings after reporting improved results across most of its insurance lines.
The Chattanooga-based disability insurer said Tuesday it earned $226.1 million, or 93 cents per share. Operating earnings for the quarter were 3 cents per share better than analysts had forecast and reversed the loss of $282.2 million, or $1.12 per share, reported in the same period a year ago.
Last year's results were due primarily to actuarial losses on the company's investment portfolio and amortization of actuarial losses on the company's pension plans.
The insurance company posted revenue of $2.73 billion in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $2.72 billion.
For the year, Unum reported profit of $867.1 million, or $3.50 per share. Revenue was reported as $10.78 billion.
Unum CEO Rick McKenney said earnings were boosted by growth across all of Unum's main insurance lines. He said he anticipates growth in after-tax operating income for 2016 between 3 and 6 percent.
"As we move into 2016 we remain strategically well-positioned in our markets with strong operating performance trends and excellent financial flexibility, despite the on-going macro-environment challenges," McKenney said. "Many of the positive trends continued, including impressive sales and premium growth across our core businesses."
In 2015, the company funded its growth profile by acquiring National Dental Plan in the U.K. and buying back another $427 million of its stock during the year.
Unum shares have decreased 18 percent since the beginning of the year, while the Standard & Poor's 500 index has declined nearly 7 percent. In the final minutes of trading Tuesday, shares hit $27.44, a drop of 14 percent in the last 12 months.
Unum shares on Tuesday fell $1.05 per share, or nearly 3.7 percent, ahead of the earnings results begin released after the market closed.
Contact staff writer Dave Flessner at dflessner@timesfreepress.com or at 423-757-6340.