Unumprovident Corp. on Tuesday reported second-quarter profit rose as the disability insurer realized sharp investment gains that helped offset a disruption in its claims management process. uarterly profit rose to $171.3 million, or 55 cents per share, from $7.2 million, or 2 cents per share, a year earlier. The results included an after-tax investment gain of $42.6 million that lifted earnings by 13 cents per share, compared to last year’s results that were hurt by 18 cents per share of investment losses and 23 cents per share in losses from discontinued operations. UnumProvident has about 3,600 employees in Portland, Maine. It was formed in 1999 with the merger of Provident Cos. of Chattanooga and Unum Corp. of Portland.
Business in brief CHATTANOOGA, TENN.: UNUMPROVIDENT LISTS EARNINGS
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