Unum Group (NYSE:UNM) late Wednesday said that its net income jumped in its fourth-quarter, but failed to met the analyst target as its UK segment reported 21.50% drop in operating income.
The company said that it earned $225.8 million, or 71 cents a share during the latest quarter, up from $199.4 million, or 60 cents a share, a year ago quarter. On an adjusted basis, the company earned 66 cents a share, missed consensus of 69 cents.
Net realized investment gains came at $17.2 million, reversing a year ago loss of $18.9 million.
The UK segment reported 21.50% decline in operating income to $48.1 million.
Also, U.S. supplementary and voluntary line of business segment income fell by 8% to $75.9 million.
For FY2011, the company projects to grow its operating income by 6-12%.
The company also said that it is planning to spend an additional $1 billion to buy back shares.
Shares of UNM jumped 0.68% in the extend hours. Over the past one year, the stock has jumped over 28%.
Unum Group and its insurance and non-insurance subsidiaries, operate in the United States, the United Kingdom, and, to a limited extent, in certain other countries worldwide.
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