71.02
0.39%
-0.28
After Hours:
71.02
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Why is Unum Group (UNM) Stock down?
01 Nov, 2023:
Unum Group Stock (UNM) dropped by 13.17% from $48.90 to $42.46 in the trading on Wednesday November 1, 2023. The reason why UNM stock down today is due to the company's Closed Block business. The interest adjusted loss ratio for its long-term care product line, which excludes the reserve increase related to assumption update of $368.1M, jumped to 105.3% from 83.6% a year before, which excludes the reserve decrease related to the assumption update of $2.9M. The increase was mostly driven by higher claim incidence as well as impacts from the change in the net premium ratio resulting from the reserve assumption update.
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