Unum Group generated net income of more than $225 million in the fourth quarter, capping off a year of modest growth, the company reported Tuesday.

The Chattanooga, Tennessee-based insurance provider, which employs nearly 3,000 workers in Maine, reported quarterly net income of $226.1 million, or 93 cents per share, beating analyst expectations by 2 cents per share.

That performance was much improved from Unum’s net loss of $282.2 million, or $1.12 per share, in the fourth quarter of 2014. The loss was primarily the result of Unum setting aside $453.8 million to cover anticipated costs related to a closed block of long-term care policies, the company reported.

The extra cash reserve resulted from an updated analysis of Unum’s anticipated costs over the next few years based on expectations that interest rates would remain low. Insurance companies invest their cash reserves to generate income, and the ongoing, prolonged period of low interest rates is making those investments less profitable.

Still, Unum experienced slow and steady growth in 2015, generating revenue of $10.78 billion for the year, up 3 percent from $10.51 billion in 2014. With the cash reserve issue behind it, the company generated net income of $867.1 million, up 116 percent from $402.1 million the previous year.

“We experienced favorable growth trends in our core business lines and stable benefits experience, which combine to drive strong profitability and capital generation,” Unum President and CEO Richard McKenney said in a news release.

Revenue for the fourth quarter was $2.72 billion, up 3 percent from $2.64 billion a year earlier.

Unum, which trades on the New York Stock Exchange under the symbol UNM, reported its quarterly financial results after the market closed Tuesday. Its stock price closed at $27.44 per share, down $1.05 for the day.