Fitch: UnumProvident on watch

Fitch Ratings said it has placed all of UnumProvident Corp.'s debt and insurer financial strength ratings on Rating Watch negative

Fitch said the action is in response to the $286 million after-tax charge that is being taken by UnumProvident to boost reserves in its group long-term disability business. The current charge, which reflects both narrowed interest spread margins as well as strengthening of morbidity assumptions, follows a $295 million reserve strengthening for claims incidence in the group long-term disability business in the first quarter of 2003.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.