Unum
 |
|
| Public | |
| Traded as | : UNM S&P 500 Component |
| Industry | Employee benefits (disability, life and critical illness insurance) |
| Founded | Tennessee |
| Headquarters | Chattanooga, Tennessee |
|
Key people
|
Rick McKenney, President and CEO Thomas Watjen, Chairman of the Board; Jack McGarry, CFO |
| Revenue | $10.35 billion (2013) |
| $858.1 million (2013) | |
|
Number of employees
|
9,200 (2013) |
| Website | www.unum.com |
Unum Group : UNM is a Chattanooga, Tennessee-based Fortune 500insurance company formerly known as UnumProvident. Unum Group was created by the 1999 merger of Unum Corporation and The Provident Companies and comprises three distinct businesses – Unum US, Unum UK, and Colonial Life. Its underwriting insurers include The Paul Revere Life Insurance Company and Provident Life and Accident Insurance Company. Unum is the top disability insurer in both the United States and United Kingdom and also offers other insurance products including accident, critical illness and life insurance.
As of December 2013, Unum had 9,200 full-time employees and annual revenue of $10.35 billon. Thomas Watjen has led Unum as its CEO since 2003.
Union Mutual Life Insurance was incorporated in 1848 in Maine. The company issued its first policy, which covered the life of founder and company president Elisha B. Pratt for $5000, on October 1, 1849. Union Mutual's principal office at the time was located in Boston, Massachusetts, where Pratt resided. Union Mutual remained headquartered in Boston until 1881, when the state of Maine passed a law that required the principal office and headquarters of all insurance companies incorporated by the state to be located within the state. The company relocated to Portland, Maine.
In 1940, the company acquired most of Massachusetts Accident Company's health and accident insurance business. The acquisition was Union Mutual's first expansion beyond individual life and endowment insurance. In 1969, Union Mutual established the insurance industry's first downstream holding company, which facilitated the company's continued expansion and diversification. Union Mutual also established its group disability business in the 1960s. Group disability would become the company's flagship product.
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Wikipedia