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Unum Group Receives Financial Strength and Debt Rating Upgrades from Fitch Ratings

CHATTANOOGA, Tenn., Nov. 28, 2023 /PRNewswire/ — Unum Group (NYSE: UNM) has received positive news today, as Fitch Ratings has upgraded its financial strength and debt ratings. This upgrade includes an improvement in the company’s financial fundamentals and overall strength. The company’s financial strength rating for its domestic subsidiaries has been upgraded to an ‘A’ from an ‘A-‘ and its senior debt rating has been upgraded to ‘BBB’ from ‘BBB-‘. Fitch’s rating outlooks for all of Unum Group’s ratings are Stable.

The acknowledgment of the company’s strong financial position and consistent operational execution has been met with pride by Unum Group EVP and CFO, Steve Zabel. According to him, “We continue to successfully pursue our strategy and are well-poised to continue to grow and serve the ever-changing needs of the working world.”

The upgrade reflects strong capital metrics, including a return to pre-pandemic levels of profitability and improvements to Unum Group’s LTC reserve adequacy. Furthermore, these rating upgrades follow the August 2023 A.M. Best announcement of credit rating upgrades of Unum Group.

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ABOUT UNUM
Unum Group (NYSE: UNM) is an international provider of workplace benefits and services, with a 175-year history of helping workers and their families. 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. The Fortune 500 company is one of the 2023 World’s Most Ethical Companies, recognized by Ethisphere┬«.

For more information about Unum Group’s credit rating upgrade from Fitch Ratings, visit the Unum newsroom. Connect with Unum Group on LinkedIn, Facebook, and Instagram for more updates.

SOURCE Unum Group

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