CHATTANOOGA, Tenn., June 4, 2024
/PRNewswire/ -- Unum Group (NYSE:UNM) announced today that its debt
ratings and financial strength have been upgraded by Moody's
Ratings (Moody's). The company's senior unsecured debt ratings were
upgraded to Baa2 from Baa3, and the financial strength ratings of
its rated domestic subsidiaries were upgraded to A2 from
A3.
"The upgrade is a testament to our strong execution, the robust
financial position we've been able to achieve in recent years and a
continuation of the positive rating momentum we have experienced
over the past year," said Steve
Zabel, executive vice president and chief financial officer.
Moody's publishes credit ratings that are forward-looking
opinions on the relative ability of an entity or obligation to meet
financial commitments. Unum Group's upgrade reflects strong
regulatory capital levels, a reduction in asset risk, increasing
profitability in the core business and an improved long-term care
position.
The Moody's ratings upgrades follow upgrades from AM Best and
Fitch during 2023.
About Unum Group
Unum Group (NYSE: UNM), a leading international provider of
workplace benefits and services, has been helping workers and their
families thrive for more than 175 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 2023, Unum Group reported revenues of more than
$12 billion and paid approximately
$8 billion in benefits. The Fortune
500 company is recognized as one of the World's Most Ethical
Companies by Ethisphere®.
Visit the Unum Group newsroom for more information, and connect
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SOURCE Unum Group
