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Unum Group SWOT & PESTLE Analysis

ID : 52839353| Dec 2020| 15 pages

COMPANY PROFILE -Unum Group

Business Sector :Insurance and Healthcare

Operating Geography :United States, North America, Global

About Unum Group :

Unum is a Fortune 500 insurance company formerly known as UnumProvident. Unum Group was created by the 1999 merger of Unum Corporation and The Provident Companies. Unum is the top disability insurer in both the the United States and the United Kingdom and also offers other insurance products including accident, critical illness and life insurance. Unum Group along with its insurance and non-insurance subsidiaries operate in the United States, the United Kingdom, Poland, and, to a limited extent, in certain other countries. The Group's overall business portfolio includes disability, life, accident, critical illness, dental and vision, and other related services. Unum's products and services are primarily marketed at the workplaces. As of early 2020 the Group employs nearly 10,300 full-time employees.
Unum Group’s mission statement “Is to help protect people financially when they’re injured or ill and need it most. In today’s environment of economically fragile families, financial protection benefits are more important than ever.”
The group’s vision statement states “We will be the leading provider of employee benefits products and services that help employers manage their businesses and employees protect their families and livelihoods.”
Unum Group's USP or Unique Selling proposition sprawls in being a leading provider of financial protection and benefits in the United States, the United Kingdom and Poland, and the largest provider of disability income in the world.

Unum Group Revenue :


US$ 11.99 billion – FY ending 31st December 2019 (y-o-y growth of +3.3%)
US$ 11.59 billion – FY ending 31st December 2018

Competitive Analysis of Unum Group

SWOT
PESTLE

The SWOT analysis for Unum is presented below in a matrix followed by the detailed analysis report

StrengthsWeaknesses
1. Consistent growth in revenue and financial conditions over the past 5 years
2. Strong brand legacy and market position across its business segments
3. Strong financial foundation since inception
4. Market leading position in employee benefits segment
5. Strong persistency across business segments
1. High dependency for funds from subsidiaries
2. Earnings concentrated in the volatile group and individual disability businesses
OpportunitiesThreats
1. Growing existing business to reach the untapped markets
2. Invest in operations to serve the changing needs of the customer and meet new market demands
3. Initiatives to support customers and their employees through the coronavirus pandemic
1. Intense competition affecting market share and profitability
2. Stringent insurance regulation and oversight
3. Sustained periods of low interest rates may impact financials
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Detailed SWOT Analysis of Unum Group

Strength

1. Consistent growth in revenue and financial conditions over the past 5 years: Unum’s sales revenue has been showing growth trends for the last five years. The revenue clocked to $ 11,998.9 million in FY2019 showing a significant and consistent revenue growth from $ 10,731.3 million in FY2015. Also, in FY2019 the Earnings per share rose to $5.24 and adjusted operating EPS at an all-time high of $5.44, resulting in another year of record growth. The group exhibited return on equity 17.2% in its core operating segments. The company has paid regular dividends to the shareholders, with a significant increase in the Cash dividend from $ 0.70 per share in 2015 to $ 1.09 per share in 2019. Further the company paid $229 million in dividends and increased the annual dividend rate by 11.2% over the prior year. Unum also accomplished the repurchase of its outstanding shares worth $400 million in 2019. The FY2019 ended by further strengthening the financial foundation of the company, some of the exceptional highlights of the year include scaling up of the Risk-based capital ratio above Unum's target of 350%, Liquidity of more than $860 million of holding company cash, creating strong cash flow due to statutory earnings of $1.1 billion, Low credit losses relative to the industry benchmark, $7 billion claims paid in 2019 and Solid financial strength ratings as of 2020.

2. Strong brand legacy and market position across its business segments: From 17 decades the Unum family of business is providing crucial financial protection to its customers' employees and their families, protecting nearly 38 million people via its primary operating segments. All the three principal operating business segments of Unum group i.e. Unum US, Unum International, and Colonial Life, are leading players in their respective markets. Precisely Unum US is a market leader in group and individual disability benefits in the United States, one of the largest providers of group life and voluntary workplace benefits, and a growing dental and vision carrier. Moreover, Unum UK is the leading provider of group income protection and critical illness coverage in the United Kingdom. Also, Colonial Life is one of America’s leading providers of voluntary worksite benefits, including disability, life, accident, critical illness, cancer, hospitalization, dental and vision coverage. As of early 2020, consolidated incomes generated from Unum US, Unum International, and Colonial Life are approximately 64%, 7% and 18% respectively and remaining 11% generated from the Closed Block operations.

The remaining section under "Strengths" is available only in the 'Complete Report' on purchase.

Weakness

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Opportunity

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Threat

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TABLE OF CONTENTS
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References used in Unum Group SWOT & PESTLE Analysis Report

1. Unum Group 2021 outlook meeting presentation - https://s26.q4cdn.com/247131723/files/doc_presentations/2020/12/17/2021-Outlook-Meeting-Deck.pdf

2. Unum Group annual report 2019 - https://s26.q4cdn.com/247131723/files/doc_financials/2019/ar/2019-Annual-Report.pdf

3. Unum Group corporate information - https://www.unum.com/about/corporate

4. Unum Group corporate profile - https://investors.unum.com/corporate-profile/default.aspx

The detailed complete set of references are available on request in the 'Complete report' on purchase.

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In-text: (SWOT & PESTLE.com, 2021)

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