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v3.22.2

Segment Information (Tables) | 6 Months Ended
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Jun. 30, 2022
Segment Reporting [Abstract] |
Premium Income by Major Line of Business within Each Segment | Segment information is as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2022 |  | 2021 |  | 2022 |  | 2021
| (in millions of dollars)
Premium Income |  |  |  |  |  |  |
Unum US |  |  |  |  |  |  |
Group Disability |  |  |  |  |  |  |
Group Long-term Disability | $ | 474.4 |  |  | $ | 458.6 |  |  | $ | 938.3 |  |  | $ | 916.3 |
Group Short-term Disability | 232.1 |  |  | 213.6 |  |  | 453.7 |  |  | 428.8 |
Group Life and Accidental Death & Dismemberment |  |  |  |  |  |  |
Group Life | 419.6 |  |  | 414.6 |  |  | 832.2 |  |  | 824.6 |
Accidental Death & Dismemberment | 43.8 |  |  | 42.0 |  |  | 85.9 |  |  | 83.4 |
Supplemental and Voluntary |  |  |  |  |  |  |
Voluntary Benefits | 215.7 |  |  | 212.1 |  |  | 436.2 |  |  | 430.8 |
Individual Disability | 117.8 |  |  | 113.6 |  |  | 231.4 |  |  | 229.3 |
Dental and Vision | 68.9 |  |  | 67.6 |  |  | 139.5 |  |  | 134.7 |
| 1,572.3 |  |  | 1,522.1 |  |  | 3,117.2 |  |  | 3,047.9 |
Unum International |  |  |  |  |  |  |
Unum UK |  |  |  |  |  |  |
Group Long-term Disability | 94.3 |  |  | 105.1 |  |  | 197.7 |  |  | 202.2 |
Group Life | 33.3 |  |  | 28.0 |  |  | 65.5 |  |  | 55.3 |
Supplemental | 29.4 |  |  | 27.9 |  |  | 58.4 |  |  | 55.9 |
Unum Poland | 22.4 |  |  | 22.5 |  |  | 45.6 |  |  | 44.5 |
| 179.4 |  |  | 183.5 |  |  | 367.2 |  |  | 357.9 |
Colonial Life |  |  |  |  |  |  |
Accident, Sickness, and Disability | 238.2 |  |  | 236.4 |  |  | 477.9 |  |  | 477.1 |
Life | 101.3 |  |  | 96.1 |  |  | 203.0 |  |  | 192.7 |
Cancer and Critical Illness | 88.1 |  |  | 87.2 |  |  | 177.4 |  |  | 176.3 |
| 427.6 |  |  | 419.7 |  |  | 858.3 |  |  | 846.1 |
Closed Block |  |  |  |  |  |  |
Long-term Care | 173.7 |  |  | 174.9 |  |  | 348.5 |  |  | 352.3 |
Individual Disability | 62.4 |  |  | 72.4 |  |  | 125.8 |  |  | 144.5 |
All Other | 1.9 |  |  | 1.8 |  |  | 3.6 |  |  | 4.0 |
| 238.0 |  |  | 249.1 |  |  | 477.9 |  |  | 500.8 |
Total Premium Income | $ | 2,417.3 |  |  | $ | 2,374.4 |  |  | $ | 4,820.6 |  |  | $ | 4,752.7 |
Selected Operating Statement Data by Segment |
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Three Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |
Premium Income | $ | 1,572.3 |  |  | $ | 179.4 |  |  | $ | 427.6 |  |  | $ | 238.0 |  |  | $ | — |  |  | $ | 2,417.3 |
Net Investment Income | 167.8 |  |  | 50.8 |  |  | 38.7 |  |  | 291.5 |  |  | 10.2 |  |  | 559.0 |
Other Income | 50.7 |  |  | 0.3 |  |  | 0.2 |  |  | 16.5 |  |  | 1.0 |  |  | 68.7 |
Adjusted Operating Revenue | $ | 1,790.8 |  |  | $ | 230.5 |  |  | $ | 466.5 |  |  | $ | 546.0 |  |  | $ | 11.2 |  |  | $ | 3,045.0 |
Adjusted Operating Income (Loss) | $ | 295.4 |  |  | $ | 24.9 |  |  | $ | 101.1 |  |  | $ | 79.3 |  |  | $ | (36.9) |  |  | $ | 463.8 |
Three Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |
Premium Income | $ | 1,522.1 |  |  | $ | 183.5 |  |  | $ | 419.7 |  |  | $ | 249.1 |  |  | $ | — |  |  | $ | 2,374.4 |
Net Investment Income | 183.6 |  |  | 35.7 |  |  | 41.6 |  |  | 294.7 |  |  | 7.9 |  |  | 563.5 |
Other Income | 41.3 |  |  | 0.1 |  |  | 0.3 |  |  | 12.1 |  |  | 0.4 |  |  | 54.2 |
Adjusted Operating Revenue | $ | 1,747.0 |  |  | $ | 219.3 |  |  | $ | 461.6 |  |  | $ | 555.9 |  |  | $ | 8.3 |  |  | $ | 2,992.1 |
Adjusted Operating Income (Loss) | $ | 179.3 |  |  | $ | 24.8 |  |  | $ | 95.8 |  |  | $ | 111.2 |  |  | $ | (48.5) |  |  | $ | 362.6 |
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Six Months Ended June 30, 2022 |  |  |  |  |  |  |  |  |  |  |
Premium Income | $ | 3,117.2 |  |  | $ | 367.2 |  |  | $ | 858.3 |  |  | $ | 477.9 |  |  | $ | — |  |  | $ | 4,820.6 |
Net Investment Income | 338.8 |  |  | 85.3 |  |  | 76.8 |  |  | 566.3 |  |  | 19.0 |  |  | 1,086.2 |
Other Income | 97.8 |  |  | 0.5 |  |  | 0.5 |  |  | 32.5 |  |  | 3.2 |  |  | 134.5 |
Adjusted Operating Revenue | $ | 3,553.8 |  |  | $ | 453.0 |  |  | $ | 935.6 |  |  | $ | 1,076.7 |  |  | $ | 22.2 |  |  | $ | 6,041.3 |
Adjusted Operating Income (Loss) | $ | 467.0 |  |  | $ | 52.1 |  |  | $ | 191.2 |  |  | $ | 173.4 |  |  | $ | (77.3) |  |  | $ | 806.4 |
Six Months Ended June 30, 2021 |  |  |  |  |  |  |  |  |  |  |
Premium Income | $ | 3,047.9 |  |  | $ | 357.9 |  |  | $ | 846.1 |  |  | $ | 500.8 |  |  | $ | — |  |  | $ | 4,752.7 |
Net Investment Income | 363.3 |  |  | 61.7 |  |  | 79.3 |  |  | 591.9 |  |  | 16.0 |  |  | 1,112.2 |
Other Income | 81.7 |  |  | 0.2 |  |  | 0.5 |  |  | 30.5 |  |  | 1.7 |  |  | 114.6 |
Adjusted Operating Revenue | $ | 3,492.9 |  |  | $ | 419.8 |  |  | $ | 925.9 |  |  | $ | 1,123.2 |  |  | $ | 17.7 |  |  | $ | 5,979.5 |
Adjusted Operating Income (Loss) | $ | 295.0 |  |  | $ | 51.2 |  |  | $ | 169.1 |  |  | $ | 208.2 |  |  | $ | (87.4) |  |  | $ | 636.1 |
Assets by Segment |
| June 30 |  | December 31
| 2022 |  | 2021
| (in millions of dollars)
Assets |  |  |
Unum US | $ | 16,743.8 |  |  | $ | 18,696.3 |
Unum International | 3,386.8 |  |  | 4,086.5 |
Colonial Life | 4,594.7 |  |  | 4,895.9 |
Closed Block | 34,439.3 |  |  | 38,287.9 |
Corporate | 3,956.5 |  |  | 4,149.0 |
Total Assets | $ | 63,121.1 |  |  | $ | 70,115.6 |
Reconciliation of Total Revenue and Income Before Income Tax to Adjusted Operating Revenue and Adjusted Operating Income | A reconciliation of total revenue to "adjusted operating revenue" and income before income tax to "adjusted operating income" is as follows:
| Three Months Ended June 30 |  | Six Months Ended June 30
| 2022 |  | 2021 |  | 2022 |  | 2021
| (in millions of dollars)
Total Revenue | $ | 3,040.9 |  |  | $ | 2,993.0 |  |  | $ | 6,023.4 |  |  | $ | 6,065.0 |
Excluding: |  |  |  |  |  |  |
Net Investment Gain (Loss) | (4.1) |  |  | 0.9 |  |  | (17.9) |  |  | 85.5 |
Adjusted Operating Revenue | $ | 3,045.0 |  |  | $ | 2,992.1 |  |  | $ | 6,041.3 |  |  | $ | 5,979.5 |
Income Before Income Tax | $ | 443.1 |  |  | $ | 262.6 |  |  | $ | 755.2 |  |  | $ | 461.4 |
Excluding: |  |  |  |  |  |  |
Net Investment Gains and Losses |  |  |  |  |  |  |
Net Realized Investment Gain Related to Reinsurance Transaction | — |  |  | — |  |  | — |  |  | 67.6 |
Net Investment Gain (Loss), Other | (4.1) |  |  | 0.9 |  |  | (17.9) |  |  | 17.9 |
Total Net Investment Gain (Loss) | (4.1) |  |  | 0.9 |  |  | (17.9) |  |  | 85.5 |
Items Related to Closed Block Individual Disability Reinsurance Transaction |  |  |  |  |  |  |
Change in Benefit Reserves and Transaction Costs | — |  |  | — |  |  | — |  |  | (139.3) |
Amortization of the Cost of Reinsurance | (16.6) |  |  | (19.7) |  |  | (33.3) |  |  | (39.7) |
Total Items Related to Closed Block Individual Disability Reinsurance Transaction | (16.6) |  |  | (19.7) |  |  | (33.3) |  |  | (179.0) |
Cost Related to Early Retirement of Debt | — |  |  | (67.3) |  |  | — |  |  | (67.3) |
Impairment Loss on ROU Asset | — |  |  | (13.9) |  |  | — |  |  | (13.9) |
Adjusted Operating Income | $ | 463.8 |  |  | $ | 362.6 |  |  | $ | 806.4 |  |  | $ | 636.1 |

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