|Company Name||Unum Group|
On May 2, 2018, Unum disclosed that its first quarter 2018 loss ratio for its long-term care business was a disappointing 96.6%, compared to only 88.6% for the first quarter of 2017. The first quarter 2018 loss ration also far exceeded the Company’s earlier-stated expectation of 85-90%.
On this news, Unum’s share price fell $8.12 per share, or nearly 17%, to close at $39.78 per share on May 2, 2018, thereby injuring investors.
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