XML 40 R29.htm IDEA: XBRL DOCUMENT
v3.25.3

Segment Information (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Segment Reporting [Abstract] |
Premium Income by Major Line of Business within Each Segment | Segment information is shown below.
| Three Months Ended September 30 |  | Nine Months Ended September 30
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions of dollars)
Premium Income |  |  |  |  |  |  |
Unum US |  |  |  |  |  |  |
Group Disability |  |  |  |  |  |  |
Group Long-term Disability | $ | 499.2 |  |  | $ | 522.1 |  |  | $ | 1,511.5 |  |  | $ | 1,560.3 |
Group Short-term Disability | 286.0 |  |  | 271.3 |  |  | 853.6 |  |  | 810.7 |
Group Life and Accidental Death & Dismemberment |  |  |  |  |  |  |
Group Life | 468.3 |  |  | 447.8 |  |  | 1,404.5 |  |  | 1,337.9 |
Accidental Death & Dismemberment | 48.9 |  |  | 47.1 |  |  | 146.3 |  |  | 139.3 |
Supplemental and Voluntary |  |  |  |  |  |  |
Voluntary Benefits | 231.6 |  |  | 219.3 |  |  | 700.2 |  |  | 665.1 |
Individual Disability | 140.0 |  |  | 140.4 |  |  | 475.4 |  |  | 424.6 |
Dental and Vision | 81.4 |  |  | 75.5 |  |  | 243.4 |  |  | 223.9 |
| 1,755.4 |  |  | 1,723.5 |  |  | 5,334.9 |  |  | 5,161.8 |
Unum International |  |  |  |  |  |  |
Unum UK |  |  |  |  |  |  |
Group Long-term Disability | 111.3 |  |  | 106.6 |  |  | 319.4 |  |  | 312.4 |
Group Life | 71.9 |  |  | 58.8 |  |  | 201.6 |  |  | 156.3 |
Supplemental | 47.4 |  |  | 41.4 |  |  | 136.3 |  |  | 125.1 |
Unum Poland | 50.5 |  |  | 39.8 |  |  | 141.6 |  |  | 113.3 |
| 281.1 |  |  | 246.6 |  |  | 798.9 |  |  | 707.1 |
Colonial Life |  |  |  |  |  |  |
Accident, Sickness, and Disability | 247.5 |  |  | 240.6 |  |  | 743.7 |  |  | 725.5 |
Life | 118.7 |  |  | 113.1 |  |  | 360.7 |  |  | 342.6 |
Cancer and Critical Illness | 90.3 |  |  | 88.2 |  |  | 271.5 |  |  | 266.9 |
| 456.5 |  |  | 441.9 |  |  | 1,375.9 |  |  | 1,335.0 |
Closed Block |  |  |  |  |  |  |
Long-term Care | 158.6 |  |  | 173.7 |  |  | 510.7 |  |  | 521.5 |
All Other | 36.4 |  |  | 43.1 |  |  | 118.5 |  |  | 140.9 |
| 195.0 |  |  | 216.8 |  |  | 629.2 |  |  | 662.4 |
Total Premium Income | $ | 2,688.0 |  |  | $ | 2,628.8 |  |  | $ | 8,138.9 |  |  | $ | 7,866.3 |
Selected Operating Statement Data by Segment |
| Three Months Ended September 30, 2025
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 1,755.4 |  |  | $ | 281.1 |  |  | $ | 456.5 |  |  | $ | 195.0 |  |  | $ | — |  |  | $ | 2,688.0 |
Net Investment Income | 151.9 |  |  | 36.2 |  |  | 44.3 |  |  | 224.7 |  |  | 19.7 |  |  | 476.8 |
Other Income 1 | 60.9 |  |  | 2.9 |  |  | 0.6 |  |  | 16.3 |  |  | 0.3 |  |  | 81.0 |
Adjusted Operating Revenue | $ | 1,968.2 |  |  | $ | 320.2 |  |  | $ | 501.4 |  |  | $ | 436.0 |  |  | $ | 20.0 |  |  | $ | 3,245.8 |
Adjusted Policy Benefits 2 | $ | 1,047.7 |  |  | $ | 214.7 |  |  | $ | 223.3 |  |  | $ | 356.0 |  |  | $ | — |  |  | $ | 1,841.7 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)³ | (4.2) |  |  | (14.3) |  |  | (3.1) |  |  | 19.0 |  |  | — |  |  | (2.6) |
Commissions | 195.8 |  |  | 26.1 |  |  | 96.7 |  |  | 16.6 |  |  | — |  |  | 335.2 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 52.2 |  |  | 52.2 |
Deferral of Acquisition Costs | (83.3) |  |  | (5.5) |  |  | (84.7) |  |  | — |  |  | — |  |  | (173.5) |
Amortization of Deferred Acquisition Costs | 71.4 |  |  | 2.7 |  |  | 58.2 |  |  | — |  |  | — |  |  | 132.3 |
Other Segment Items 4 | 405.9 |  |  | 57.7 |  |  | 94.4 |  |  | 30.3 |  |  | 15.5 |  |  | 603.8 |
Adjusted Benefits and Expenses | $ | 1,633.3 |  |  | $ | 281.4 |  |  | $ | 384.8 |  |  | $ | 421.9 |  |  | $ | 67.7 |  |  | $ | 2,789.1 |
Adjusted Operating Income (Loss) | $ | 334.9 |  |  | $ | 38.8 |  |  | $ | 116.6 |  |  | $ | 14.1 |  |  | $ | (47.7) |  |  | $ | 456.7 |
1 Excludes the amortization of the deferred gain on reinsurance in the Unum US segment.
2 Excludes the impact of non-contemporaneous reinsurance in the Unum US segment and the Closed Block segment.
3 Excludes the reserve assumption updates that occurred in the third quarter of 2025 for all segments except Corporate.
4 Excludes the amortization of the cost of reinsurance in the Closed Block segment. For each reportable segment, other segment items includes compensation, other personnel expenses, taxes, licenses and fees, depreciation, intangible asset amortization and other expenses. Depreciation and intangible asset amortization during the three months ended September 30, 2025 was $21.9 million, $5.9 million, $4.3 million, $1.5 million, and $0.1 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
| Three Months Ended September 30, 2024
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 1,723.5 |  |  | $ | 246.6 |  |  | $ | 441.9 |  |  | $ | 216.8 |  |  | $ | — |  |  | $ | 2,628.8 |
Net Investment Income | 161.0 |  |  | 30.4 |  |  | 39.6 |  |  | 284.3 |  |  | 12.5 |  |  | 527.8 |
Other Income | 60.1 |  |  | 0.4 |  |  | 0.4 |  |  | 12.4 |  |  | — |  |  | 73.3 |
Adjusted Operating Revenue | $ | 1,944.6 |  |  | $ | 277.4 |  |  | $ | 481.9 |  |  | $ | 513.5 |  |  | $ | 12.5 |  |  | $ | 3,229.9 |
Adjusted Policy Benefits 1 | $ | 1,046.0 |  |  | $ | 192.7 |  |  | $ | 218.1 |  |  | $ | 401.8 |  |  | $ | — |  |  | $ | 1,858.6 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)² | (38.3) |  |  | (24.9) |  |  | (7.9) |  |  | 25.8 |  |  | — |  |  | (45.3) |
Commissions | 182.6 |  |  | 21.7 |  |  | 93.0 |  |  | 17.8 |  |  | — |  |  | 315.1 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 49.2 |  |  | 49.2 |
Deferral of Acquisition Costs | (81.6) |  |  | (4.6) |  |  | (77.1) |  |  | — |  |  | — |  |  | (163.3) |
Amortization of Deferred Acquisition Costs | 75.7 |  |  | 2.5 |  |  | 55.6 |  |  | — |  |  | — |  |  | 133.8 |
Other Segment Items 3 | 396.9 |  |  | 49.7 |  |  | 86.8 |  |  | 33.9 |  |  | 12.7 |  |  | 580.0 |
Adjusted Benefits and Expenses | $ | 1,581.3 |  |  | $ | 237.1 |  |  | $ | 368.5 |  |  | $ | 479.3 |  |  | $ | 61.9 |  |  | $ | 2,728.1 |
Adjusted Operating Income (Loss) | $ | 363.3 |  |  | $ | 40.3 |  |  | $ | 113.4 |  |  | $ | 34.2 |  |  | $ | (49.4) |  |  | $ | 501.8 |
1 Excludes the impact of non-contemporaneous reinsurance in the Closed Block segment.
2 Excludes the reserve assumption updates that occurred in the third quarter of 2024 for all segments except Corporate.
3 Excludes the amortization of the cost of reinsurance in the Closed Block segment and the loss on legal settlement in the Corporate Segment. For each reportable segment, other segment items includes compensation, other personnel expenses, taxes, licenses and fees, depreciation, intangible asset amortization, and other expenses. Depreciation and intangible asset amortization during the three months ended September 30, 2024 was $21.5 million, $4.5 million, $3.8 million, $1.3 million, and $0.1 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
| Nine Months Ended September 30, 2025
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 5,334.9 |  |  | $ | 798.9 |  |  | $ | 1,375.9 |  |  | $ | 629.2 |  |  | $ | — |  |  | $ | 8,138.9 |
Net Investment Income | 455.9 |  |  | 110.9 |  |  | 129.1 |  |  | 778.9 |  |  | 75.9 |  |  | 1,550.7 |
Other Income 1 | 190.8 |  |  | 3.3 |  |  | 1.3 |  |  | 38.3 |  |  | — |  |  | 233.7 |
Adjusted Operating Revenue | $ | 5,981.6 |  |  | $ | 913.1 |  |  | $ | 1,506.3 |  |  | $ | 1,446.4 |  |  | $ | 75.9 |  |  | $ | 9,923.3 |
Adjusted Policy Benefits 2 | $ | 3,297.2 |  |  | $ | 576.9 |  |  | $ | 675.9 |  |  | $ | 1,185.1 |  |  | $ | — |  |  | $ | 5,735.1 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)³ | (98.3) |  |  | (16.0) |  |  | (14.4) |  |  | 68.0 |  |  | — |  |  | (60.7) |
Commissions | 605.2 |  |  | 73.6 |  |  | 292.6 |  |  | 50.5 |  |  | — |  |  | 1,021.9 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 156.2 |  |  | 156.2 |
Deferral of Acquisition Costs | (253.7) |  |  | (16.4) |  |  | (250.9) |  |  | — |  |  | — |  |  | (521.0) |
Amortization of Deferred Acquisition Costs | 208.2 |  |  | 7.8 |  |  | 173.9 |  |  | — |  |  | — |  |  | 389.9 |
Other Segment Items 4 | 1,240.8 |  |  | 168.1 |  |  | 279.5 |  |  | 100.4 |  |  | 40.2 |  |  | 1,829.0 |
Adjusted Benefits and Expenses | $ | 4,999.4 |  |  | $ | 794.0 |  |  | $ | 1,156.6 |  |  | $ | 1,404.0 |  |  | $ | 196.4 |  |  | $ | 8,550.4 |
Adjusted Operating Income (Loss) | $ | 982.2 |  |  | $ | 119.1 |  |  | $ | 349.7 |  |  | $ | 42.4 |  |  | $ | (120.5) |  |  | $ | 1,372.9 |
1 Excludes the amortization of the deferred gain on reinsurance in the Unum US segment.
2 Excludes the impact of non-contemporaneous reinsurance in the Unum US segment and the Closed Block segment.
3 Excludes the reserve assumption updates that occurred in the third quarter of 2025 for all segments except Corporate.
4 Excludes the amortization of the cost of reinsurance in the Closed Block segment. For each reportable segment, other segment items includes compensation, other personnel expenses, taxes, licenses and fees, depreciation, intangible asset amortization and other expenses. Depreciation and intangible asset amortization during the nine months ended September 30, 2025 was $64.4 million, $15.8 million, $12.5 million, $4.5 million, and $0.4 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
| Nine Months Ended September 30, 2024
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 5,161.8 |  |  | $ | 707.1 |  |  | $ | 1,335.0 |  |  | $ | 662.4 |  |  | $ | — |  |  | $ | 7,866.3 |
Net Investment Income | 476.1 |  |  | 94.5 |  |  | 119.4 |  |  | 851.6 |  |  | 44.8 |  |  | 1,586.4 |
Other Income | 178.9 |  |  | 1.2 |  |  | 3.6 |  |  | 37.7 |  |  | 1.1 |  |  | 222.5 |
Adjusted Operating Revenue | $ | 5,816.8 |  |  | $ | 802.8 |  |  | $ | 1,458.0 |  |  | $ | 1,551.7 |  |  | $ | 45.9 |  |  | $ | 9,675.2 |
Adjusted Policy Benefits 1 | $ | 3,207.2 |  |  | $ | 511.9 |  |  | $ | 667.7 |  |  | $ | 1,217.2 |  |  | $ | — |  |  | $ | 5,604.0 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)² | (223.6) |  |  | (32.0) |  |  | (27.0) |  |  | 72.5 |  |  | — |  |  | (210.1) |
Commissions | 551.9 |  |  | 61.7 |  |  | 282.2 |  |  | 52.0 |  |  | — |  |  | 947.8 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 148.6 |  |  | 148.6 |
Deferral of Acquisition Costs | (247.4) |  |  | (13.2) |  |  | (234.7) |  |  | — |  |  | — |  |  | (495.3) |
Amortization of Deferred Acquisition Costs | 216.7 |  |  | 7.3 |  |  | 163.9 |  |  | — |  |  | — |  |  | 387.9 |
Other Segment Items 3 | 1,206.0 |  |  | 146.9 |  |  | 261.9 |  |  | 99.9 |  |  | 38.1 |  |  | 1,752.8 |
Adjusted Benefits and Expenses | $ | 4,710.8 |  |  | $ | 682.6 |  |  | $ | 1,114.0 |  |  | $ | 1,441.6 |  |  | $ | 186.7 |  |  | $ | 8,135.7 |
Adjusted Operating Income (Loss) | $ | 1,106.0 |  |  | $ | 120.2 |  |  | $ | 344.0 |  |  | $ | 110.1 |  |  | $ | (140.8) |  |  | $ | 1,539.5 |
1 Excludes the impact of non-contemporaneous reinsurance in the Closed Block segment.
2 Excludes the reserve assumption updates that occurred in the third quarter of 2024 for all segments except Corporate.
3 Excludes the amortization of the cost of reinsurance in the Closed Block segment and the loss on legal settlement in the Corporate segment. For each reportable segment, other segment items includes compensation, other personnel expenses, taxes, licenses and fees, depreciation, intangible asset amortization, and other expenses. Depreciation and intangible asset amortization during the nine months ended September 30, 2024 was $63.3 million, $13.1 million, $11.3 million, $3.9 million, and $0.2 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
Assets by Segment |
| September 30 |  | December 31
| 2025 |  | 2024
| (in millions of dollars)
Assets |  |  |
Unum US | $ | 14,792.9 |  |  | $ | 14,981.6 |
Unum International | 3,612.3 |  |  | 3,291.3 |
Colonial Life | 5,190.9 |  |  | 4,964.2 |
Closed Block | 34,080.0 |  |  | 33,376.0 |
Corporate | 6,002.0 |  |  | 5,346.2 |
Total Assets | $ | 63,678.1 |  |  | $ | 61,959.3 |
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 September 30 |  | Nine Months Ended September 30
| 2025 |  | 2024 |  | 2025 |  | 2024
| (in millions of dollars)
Total Revenue | $ | 3,378.4 |  |  | $ | 3,217.0 |  |  | $ | 9,831.4 |  |  | $ | 9,650.7 |
Excluding: |  |  |  |  |  |  |
Net Investment Gain (Loss) | 128.0 |  |  | (12.9) |  |  | (96.5) |  |  | (24.5) |
Amortization of the Deferred Gain on Reinsurance | 4.6 |  |  | — |  |  | 4.6 |  |  | — |
Adjusted Operating Revenue | $ | 3,245.8 |  |  | $ | 3,229.9 |  |  | $ | 9,923.3 |  |  | $ | 9,675.2 |
Income Before Income Tax | $ | 54.5 |  |  | $ | 814.6 |  |  | $ | 715.1 |  |  | $ | 1,805.8 |
Excluding: |  |  |  |  |  |  |
Net Investment Gains and Losses |  |  |  |  |  |  |
Net Investment Gain (Loss) Related to the Fortitude Re Reinsurance Transaction | 137.6 |  |  | — |  |  | (46.8) |  |  | — |
Net Investment Loss, Other | (9.6) |  |  | (12.9) |  |  | (49.7) |  |  | (24.5) |
Total Net Investment Gain (Loss) | 128.0 |  |  | (12.9) |  |  | (96.5) |  |  | (24.5) |
Amortization of the Cost of Reinsurance | (48.6) |  |  | (10.4) |  |  | (67.9) |  |  | (31.1) |
Amortization of the Deferred Gain on Reinsurance | 4.6 |  |  | — |  |  | 4.6 |  |  | — |
Non-Contemporaneous Reinsurance | (7.7) |  |  | (6.0) |  |  | (19.5) |  |  | (20.2) |
Reserve Assumption Updates | (478.5) |  |  | 357.4 |  |  | (478.5) |  |  | 357.4 |
Loss on Legal Settlement | — |  |  | (15.3) |  |  | — |  |  | (15.3) |
Adjusted Operating Income | $ | 456.7 |  |  | $ | 501.8 |  |  | $ | 1,372.9 |  |  | $ | 1,539.5 |

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total assets from reportable segments to the entity's consolidated assets. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfAssetsFromSegmentToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of all significant reconciling items in the reconciliation of total revenues from reportable segments to the entity's consolidated revenues. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ReconciliationOfRevenueFromSegmentsToConsolidatedTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of entity-wide revenues from external customers for each product or service or each group of similar products or services if the information is not provided as part of the reportable operating segment information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40 + Details
Name: | us-gaap_ScheduleOfEntityWideInformationRevenueFromExternalCustomersByProductsAndServicesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
Name: | us-gaap_ScheduleOfSegmentReportingInformationBySegmentTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration