Unum Group's board of directors authorizes $1 billion share repurchase program

Core Points - Unum Group's board of directors has approved a new share repurchase program allowing the company to buy back up to $1 billion of its common stock starting August 1, 2024 [1] - The current share repurchase program will be terminated as of July 31, 2024 [1] - The timing and amount of repurchases will be determined by management based on market conditions and other factors [2] Company Overview - Unum Group is a leading international provider of workplace benefits and services, operating for over 175 years [4] - The company offers a range of insurance products including disability, life, accident, critical illness, dental, vision, and stop-loss insurance, as well as leave and absence management support and behavioral health services [4] - In 2023, Unum Group reported revenues exceeding $12 billion and paid approximately $8 billion in benefits [4]