Unum 2006 Annual Report Download - page 12

Download and view the complete annual report

Please find page 12 of the 2006 Unum annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 204

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163
  • 164
  • 165
  • 166
  • 167
  • 168
  • 169
  • 170
  • 171
  • 172
  • 173
  • 174
  • 175
  • 176
  • 177
  • 178
  • 179
  • 180
  • 181
  • 182
  • 183
  • 184
  • 185
  • 186
  • 187
  • 188
  • 189
  • 190
  • 191
  • 192
  • 193
  • 194
  • 195
  • 196
  • 197
  • 198
  • 199
  • 200
  • 201
  • 202
  • 203
  • 204

Colonial is the second largest provider of voluntary worksite benefi ts —
benefi ts focused on employees and their families and sold through the work-
place. The company’s broad portfolio of insurance products includes income
protection, life, and cancer and critical illness insurance, as well as market-
leading personal benefi ts communication and enrollment capabilities.
2006 RESULTS
Colonial closed 2006 on an upswing
with strong momentum for the upcoming
year. A strong product portfolio, an
effective distribution system, excellent
customer service and powerful enrollment
capabilities were all factors that contri-
buted to this success.
Highlights for the year include:
° Operating income at a record high of
$198.7 million, fueled by strong sales
and premium income along with a
continued focus on risk and expense
management
° 10% growth in sales
° 7% growth in premium income, driven
by strong sales and stable persistency
° Introduction of new term life, group
cancer and group critical illness products,
while also implementing a new enroll-
ment system with online capabilities
° Strong customer satisfaction ratings
from plan administrators, claimants
and policyholders
LOOKING AHEAD
Colonial’s key areas of focus have been
consistent for the past few years and
will continue to form the foundation for
future success. These areas of focus are
as follows:
° Achieve double-digit sales growth
“ RISING HEALTH CARE COSTS AND SHIFTING DEMOGRAPHICS ARE AMONG
THE MANY CHALLENGES EMPLOYERS FACE TODAY, ALL OF WHICH ARE
IMPACTING EMPLOYEE BENEFITS IN A SIGNIFICANT WAY. WITH OUR
BROAD PORTFOLIO OF BENEFITS PRODUCTS AND OUR MARKET-LEADING
COMMUNICATION AND ENROLLMENT CAPABILITIES, WE BELIEVE COLONIAL
IS UNIQUELY POSITIONED TO CAPITALIZE ON THESE OPPORTUNITIES.”
RANDY HORN | PRESIDENT AND CHIEF EXECUTIVE OFFICER, COLONIAL
Colonial