unum group

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The underwriter of disability and life insurance policies protects 36 million people globally and is headquartered in Chattanooga, Tenn.

Unum Group | 2022 Fortune 500

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Unum Group

Unum Group | 2022 Fortune 500 | Fortune

 Rick, things are changing everywhere we look. On Wall Street, we're seeing that stocks are rallying, the Federal Reserve is beginning on a path of raising interest rates, and we have a new president moving in to the White House. From everything that you see, how do you think it's impacting the US economy? I think you're sensing a pro-business-- a more pro-business environment than you've seen in a while, and then people take that indicator to invest in their companies, to grow their companies, and to look very much to the future, which I think is a good thing for the economy. The Federal Reserve is forecasting a 2% growth rate over the next few years, but President-elect Donald Trump is saying that he can double, maybe even triple that growth rate. Do you think that he can hit those kind of numbers? I think those are big numbers, so I think it's-- when you look at what the Fed's looking at today, I think that they can be improved upon. I think it's all about how the economy can improve just by people continuing to invest and actually look to positive days. The levels he's talking about, those are pretty lofty levels, so I think I'd be a little bit north of the Fed, but-- probably not to those levels, but I'm going to remain optimistic. Unum Group has huge investment portfolios. How do the higher interest rates impact your investing strategy? So our investment portfolio is made up mostly of fixed-income type instruments-- so bonds. And we like to invest in infrastructure here in the US. We like to invest in companies across the spectrum. As interest rates are higher, we're going to get higher rates on those bonds, which ultimately will go back to our policyholders over time. But that's a very positive thing for us-- and something we haven't seen. If you look back over the last decade or so, rates have been coming down, coming down, and so to see that turn has actually been good to see. All right, so how is that going to change your investing approach, when you're looking at your-- and rebalancing your portfolio? So we will rebalance from what have been some shorter term investments. We'll continue to move longer term. In the sectors that we look at, we'll continue to invest very heavily in-- whether it's infrastructure or things that we have today, we're investing in today. You're hearing that being talked about in the administration as well. And so when you think in the country today, those are good investments for us over the longer term. They're hard assets that we can invest in and invest in the country for the next 30 years. Rick, now that we have a clearer picture of the people who are going to be in the Trump administration, and also the people who are going to be advising our new president, what is your sense of the impact of all of this on the business environment? So the business environment for us, and I think for the companies that we serve-- which are a large number of the companies across America-- see an environment today where they can add people to the workforce, where they can grow, where they can invest, and they'll actually be treated well in return. And I think that's good for our economy overall, that we can continue to grow as a country and continue to grow the overall economy. And so I think it is a good time. We see that from our employers. We'd like to see a lot more of that. Continuing to add people, continuing to see wages go up from here would be a very positive thing for our country, a very positive thing for our company. You said that you see this new administration as pro-business. What kind of changes would you like to see from President-elect Trump that would help American businesses? I think it's more of an attitude, as every step of the way, everything that gets evaluated actually has an environment where they're thinking about what's going on in the country, what's going on in the economy, and then how business plays into that, as opposed to-- sometimes you would have seen that business is looked at as something that's anti what's going on in America. I'd like to see where business is very much seen as the fabric of America, which historically, it always has been. 

This CEO Thinks Donald Trump Will Create 'Pro-Business' Environment

Leadership

wreck. Things are changing. Everywhere we look on Wall Street, we're seeing the stocks are rallying on. The Federal Reserve is beginning on a path of raising interest rates. And we have a new president getting moving in to the White House from everything that you see. How do you think it's impact in the U. S. Economy? I think you're sensing, ah, pro business, more pro business environment than you've seen in a while and people take that indicator to investing their companies to grow their companies on toe looked like very much to the future, which I think is a good thing for the economy. The Federal Reserve is forecasting of 2% growth rate over the next few years, but President elect Donald Trump is saying that he can double, maybe even triple back growth rate. Do you think that he can hit those kind of numbers? I think those are big numbers, so I think it's when you look at what the feds looking at today. I think that they can be improved upon. I think you know, it's all about how the economy can improve just by by people continuing to invest. It actually looked positive days to the levels he's talking about. Those are pretty lofty levels. So I think I'd be a little bit north of the Fed, but probably not those levels. But I'm gonna remain optimistic. You know, Group has a huge investment portfolios. How do higher interest rates impact your investing strategy? Yes. So our investment portfolio is is made up mostly of fixed income type instrument. So Bond, So as we look at that and we like to invest in infrastructure here in the US, we like to invest in companies across the spectrum as interest rates are higher, we're going to get higher rates on those bonds which ultimate will go back to our policyholders overtime. But that's a very positive thing for us and something we haven't seen. If you look back over the last decade or so, rates have been coming down coming down. And so to see that turn has actually been good to see. All right. How is that going? Thio? Change your investing approach when you're looking at your re balancing your portfolio. So we will we will re balance from what has been some shorter term investments will continue to move longer term and the sectors that we look at, we'll continue to invest very heavily in whether it's infrastructure of things that we have today were bested them. Today. You're hearing that being talked about in the in the administration as well. So when you think in the country today, those air good investments for us over the longer term, they're hard assets that we can invest, invest in the country for the next 30 years. Rick, now that we have a clearer picture of the people who are going to be in the Trump administration and also the people were gonna be advising our new president, what is your sense of the impact of all of this on the business environment? Yes. So the business environment for us and I think for the companies that we serve, which are large numbers of the companies across America, see an environment today where they can add people to the workforce where they can grow where they can invest and they'll actually be treated well in return. And I think that's good for our economy overall, that we can continue to grow as a country and continue to grow the overall economy and so I think it is a is a good time. We see that from our employers. We'd like to see a lot more of that. We'd love to see people continuing to add people continue to see wages go up from here would be a very positive thing for our country, a very positive thing for our company. You said that you see this new administration as pro business. What kind of changes would you like to see from President Elect Trump? That would help American business? I think it's more of an attitude as every step of the way. Everything that gets evaluated actually has an environment where their thinking about what's going on in the country, what's going on in the economy and then how business plays into that as opposed to Sometimes you would have seen the business is looked at as something that's anti, um, what's going on in America. I'd like to see where where business is very much seen in the fabric of America, which historically it it always has been

Rick, everyone is focused on leadership these days, especially with a new President moving in to the White House. What would you say is the key characteristic that defines a great leader? You have to set the vision, but then taking that down to the individual. And how you connect with your entire workforce or those that you're trying to lead. It's that individual connection, I think, that is such a big thing today In a world that is so connected from technology and other things, making sure you still have that one on one connection with those that you trying to lead and those that you're trying to work with. Let me personalize this a little bit. Sure. When you were tapped to run the Unum group as CEO, the first time you've held a CEO job even though you had many C suite jobs before that, what have you learned over the past two years about what it takes to be an effective leader? I think one thing that you learn when you're the CEO is that Every action that you take or every action that you don't take is being perceived, analyzed and looked at by everybody in the company. And so I think it's something that you have to be a lot more thoughtful about the different actions that you're taking. How you are saying the words? How you are connecting with people than you do in the past? Because they do rest on those words because You are responsible for taking their company forward, that they depend on for employment, for fulfillment and they wanna make sure you're doing a good job with that. One thing that we've learned from this recent election, a lot of people are very. Anxious and insecure about their financial futures, whether you're talking about their jobs or whether they can pay for their insurance. And they have lost trust in businesses to help them solve these problems. What do you think it's gonna They take to restore business trust. Yeah I don't think it'll be done holistically. I think it is a one by one thing. I think when you talk to our customers, they trust what we're doing as a company. That we're out there for their best interests. We're communicating well with them, we're ensuring that they get back to work. And you win it on a one by one basis. You don't actually, you can't restore trust in aggregate. It's gotta be customers connected with companies and feeling like they're getting a good deal. And they're actually getting. Good communication from those companies about where their state it, and all the things that you mentioned in terms of people's fragility, which is very real in today's country is being able to protect and actually take care of them in the event that they have some unforseen In circumstances. As your grooming the new generation of leaders, what's the key piece of advice that you give to them? Surround yourself with people that are better than you. And I think that will always pay benefits into who you are, whether it's in your personal life, whether it's in your work life. If you surround yourself with people better than you and you perceive they're better than you, it makes you a better person as well. Rick as you look back on your own career and your path to the top of UNO Group as CEO What is the best leadership advice that you've ever received? And why was it so critical in guiding you? So, it would come from my father, which talked about treating everybody as an individual and with respect. I think that probably I didn't realize early on how important that was. But even as I became CEO of the company, those one- on- one connections make all the difference, as we drive it. So I think it's something that That we'll all continue to take with me which is making sure that as busy as our days can get, you got to take the time to make those one on one connections with individuals, treat them with respect and then ultimately you'll be a better leader for it. [ BLANK_AUDIO ]

The Obvious Leadership Trait CEOs Overlook

According to Unum Group’s Rick McKenney


Year	Revenues ($M)	Profits ($M)	Assets ($M)	Total Stockholder Equity ($M)
2021	$13,162.19.7%	$793-27.9%	$70,625.8	$10,871
2020	$11,998.93.5%	$1,100.3110.2%	$67,013.4	$9,965
2019	$11,598.52.8%	$523.4-47.4%	$61,875.6	$8,621.8
2018	$11,286.82.2%	$994.26.7%	$64,013.1	$9,574.9
2017	$11,0472.9%	$931.47.4%	$61,942	$8,968

Unum Group

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