Unum Retreats From Long-Term Care Coverage, Takes Charge

Unum Group (UNM), the disability insurer, will halt new sales of group long-term care coverage after a review of its businesses.

The insurer took a $561.2 million charge in the fourth quarter tied to its review and decision to scale back, Chattanooga, Tennessee-based Unum said today in a statement distributed by Business Wire.

To contact the reporter on this story: Andrea Ludtke in New York at aludtke@bloomberg.net

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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