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Unum Group  (UNM)
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Unum Group's

Competitiveness


 

UNM Sales vs. its Competitors Q3 2021



Comparing the results to its competitors, Unum Group reported Total Revenue decrease in the 3 quarter 2021 year on year by -0.89 %, despite revenue increase by most of its competitors of 10.96 %, recorded in the same quarter.

List of UNM Competitors

With net margin of 11.07 % company achieved higher profitability than its competitors.

More on UNM Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Unum Group Net Income in the 3 quarter 2021 grew year on year by 42.19 %, while most of its competitors have experienced contraction in net income by -34.95 %.

<<  More on UNM Income Comparisons


Unum Group's Comment on Competitors and Industry Peers


There is significant competition among insurance companies for the types of products we sell. We believe that the principal competitive factors affecting our business are price, quality of customer service and claims management, integrated product choices, and financial strength. In the individual and group disability markets, we compete in the United States with a limited number of major companies and regionally with other companies offering specialty products. Our principal competitors for our other products, including group life and the product offerings sold to groups of employees through payroll deduction, include the largest insurance companies in the United States. Some of these companies have more competitive pricing or have higher claims-paying ratings. Some may also have greater financial resources with which to compete.

In the United Kingdom, we compete for the individual and group products we sell with a number of large internationally recognized providers and strong local carriers. These providers have been aggressively trying to maintain market share in a difficult economic environment, characterized by very low interest rates and expense pressures on employers and individuals.

We believe the need for the types of products we offer is significant. In both the United States and the United Kingdom, individuals and families often live paycheck to paycheck with a considerable chance of being out of work. Pressure is also mounting on governments as to the sustainability of public assistance. Based on current penetration levels, we believe there is substantial upside growth potential.

All areas of the employee benefits markets are highly competitive due to the yearly renewable term nature of the group products and the large number of insurance companies offering products in this market. There is a risk that purchasers of employee benefits products may be able to obtain more favorable terms from competitors in lieu of renewing coverage with us. The effect of competition may, as a result, adversely affect the persistency of these and other products, as well as our ability to sell products in the future.

We must attract and retain independent agents and brokers to actively market our products. Strong competition exists among insurers for agents and brokers. We compete with other insurers for sales agents and brokers primarily on the basis of our product offerings, financial strength, support services, and compensation. Sales of our products could be materially adversely affected if we are unsuccessful in attracting and retaining agents and brokers.





  

Overall company Market Share Q3 2021

Overall company, revenue fell by -0.89 % and company lost market share, to approximate 0.69 %.





<<  More on UNM Market Share.
 

*Market share calculated with total revenue.


UNM's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME MARKET CAP REVENUES INCOME EMPLOYEES
Unum Group 13,308 4,767 800 9,500
Allstate Corp 49,595 32,269 3,399 38,800
Aetna Inc 60,705 70,069 3,503 48,800
Aon Plc 12,090 66,017 969 69,000
Truist Financial Corporation 22,914 78,764 6,165 0
Chubb Limited 40,328 0 8,816 0
Cigna Corporation 170,102 67,494 8,424 37,200
Marsh and Mclennan Companies Inc 19,171 86,076 2,746 57,000
Mbia Inc 233 561 -348 252
Metlife Inc 70,409 51,061 5,522 66,000
Xl Fleet Corp 28 551 -15 4,663
Loews Corp 14,799 14,449 1,685 17,510
Berkshire Hathaway Inc 267,320 511,121 81,322 0
Genworth Financial Inc 8,359 2,005 1,019 5,300
American Independence Corp. 0 0 0 268
Partnerre Ltd 7,876 0 254 1,035
American National Group Inc 4,376 5,095 756 4,736
Gwg Holdings Inc 31 172 -316 50
Primerica Inc 2,554 5,820 450 1,764
Reinsurance Group Of America Incorporated 16,442 6,887 593 2,201
Sundance Strategies Inc 0 271 -1 3
Symetra Financial Corporation 2,111 0 210 1,400
Amerinst Insurance Group Ltd 10 0 -4 22
Arthur j Gallagher and Co 15,739 35,141 987 21,500
Brown and Brown Inc 2,955 18,353 583 7,807
Erie Indemnity Company 2,617 9,589 306 4,800
Arch Capital Group Ltd 9,323 16,811 2,215 2,030
Enstar Group Ltd 1,428 4,293 1,050 1,327
Essent Group Ltd 1,019 4,741 624 366
Outbrain Inc 1,097 693 -6 1,150
White Mountains Insurance Group ltd 1,116 0 112 2,973
Aspen Insurance Holdings Limited 2,836 0 -40 0
Aspira Women s Health Inc -1,277 193 -186 1,433
Axis Capital Holdings Ltd 5,206 4,430 416 1,225
Blue Capital Reinsurance Holdings Ltd. 35 62 -29 1
Emc Insurance Group Inc. 722 780 32 1
Endurance Specialty Holdings Ltd. 2,539 0 283 1,154
Global Indemnity Group Llc 647 374 5 460
Greenlight Capital Re Ltd 594 226 32 30
Maiden Holdings Ltd 114 265 198 204
Markel Corporation 12,444 15,067 2,420 10,600
Oxbridge Re Holdings Limited 9 27 7 2
Everest Reinsurance Holdings Inc 8,230 10,257 628 1,207
Renaissancere Holdings Ltd 5,279 7,482 -200 376
Rli Corp 1,160 4,762 268 902
Siriuspoint Ltd 2,132 1,219 290 0
Validus Holdings Ltd 2,817 5,393 -478 876
Alleghany Corp 10,769 9,163 970 3,135
Assured Guaranty ltd 964 3,670 286 300
American International Group Inc 47,646 46,070 5,801 65,000
Wellpoint, Inc. 71,427 0 2,570 0
Unitedhealth Group Incorporated 278,969 429,101 16,797 170,000
Humana Inc 81,072 54,529 2,673 57,000
Aflac Incorporated 22,583 36,472 4,237 9,235
Safeco Corporation 0 0 0 0
Prudential Financial Inc 70,539 40,302 7,574 48,331
Principal Financial Group inc 13,482 18,862 1,488 14,873
Lincoln National Corporation 18,761 12,408 1,328 9,627
Regions Financial Corporation 7,162 21,068 4,149 23,723
Countrywide Financial Corporation 0 0 0 0
Assurant Inc 10,168 9,055 1,388 17,600
The Hartford Financial Services Group Inc 21,902 23,324 2,152 17,500
Anthem Inc 133,882 97,236 5,521 48,200
Cifc Llc 0 0 0 82
Kkr Financial Holdings Llc 546 0 293 1
Investors Heritage Capital Corp 63 49 1 1
Security National Financial Corporation 496 181 38 1,271
Centene Corporation 121,702 41,969 724 18,200
Cno Financial Group Inc 4,124 2,985 437 3,500
Futu Holdings Ltd 427 41,145 171 150
Triple s Management Corporation 4,115 830 81 3,257
Health Net Inc 0 0 0 50
Molina Healthcare Inc 25,597 16,622 590 21,000
Universal American Corp. 0 0 0 961
Wellcare Health Plans inc 26,983 17,792 631 6,900
Voya Financial Inc 4,626 7,693 2,167 7,000
Kemper Corporation 5,707 3,442 112 5,600
National General Holdings Corp 5,552 3,976 524 4,630
Patriot National, Inc. 0 0 0 1,145
Cincinnati Financial Corporation 9,001 18,861 2,525 4,305
Firstmerit Corp 956 0 185 4,112
International Bancshares Corporation 575 2,649 246 2,822
Mb Financial Inc 955 3,598 331 2,980
Old National Bancorp 860 2,926 295 2,652
Trustmark Corp 687 1,956 172 2,941
Leaf Group Ltd 231 304 -4 0
Atlantic American Corp 210 76 13 147
Citizens Inc 246 268 0 620
Fbl Financial Group Inc 788 1,494 103 1,637
Fidelity & Guaranty Life 1,585 1,532 243 220
First Trinity Financial Corp 56 0 3 9
Kansas City Life Insurance Co 484 458 30 436
National Security Group Inc 66 27 -3 1
National Western Life Group Inc 831 743 187 261
Protective Life Corporation 5,799 0 457 2,541
Phoenix Companies Inc 0 0 0 630
Utg Inc 44 86 15 42
China United Insurance Service inc 128 48 9 2,239
Horace Mann Educators Corporation 1,351 1,587 150 1,350
United Fire Group Inc 1,105 559 14 1,057
Midwest Holding Inc 13 59 -22 0
SUBTOTAL 1,876,776 2,118,780 203,121 1,015,202


       
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