Unum quarterly net falls 42%

SAN FRANCISCO (MarketWatch) — Unum Group said late Thursday that third-quarter net income came in at $108 million, or 32 cents a share, down 42% from a year earlier when the disability insurer made $187 million, or 52 cents a share. Excluding net realized investment gains and losses, the company said it made $216.9 million, or 64 cents a share, in the third quarter of 2008. Unum was expected to make 62 cents a share, according to the average estimate of 13 analysts in a FactSet survey. The benefit ratio of Unum’s U.S. group disability business was 89.3% in the latest quarter, an improvement from the 92.1% recorded in the third quarter of 2007.

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