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v3.25.4

Segment Information (Tables) | 12 Months Ended
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Dec. 31, 2025
Segment Reporting [Abstract] |
Premium Income by Major Line of Business within Each Segment | Segment information is shown below.
| Year Ended December 31 |  |
| 2025 |  |  |  | 2024 |  |  |  | 2023 |  |
| (in millions of dollars) |  |
Premium Income |  |  |  |  |  |  |  |  |  |  |
Unum US |  |  |  |  |  |  |  |  |  |  |
Group Disability |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability | $ | 2,011.1 |  |  |  |  | $ | 2,086.1 |  |  |  |  | $ | 2,057.2 |  |  |
Group Short-term Disability | 1,138.4 |  |  |  |  | 1,084.0 |  |  |  |  | 1,012.3 |  |  |
Group Life and Accidental Death & Dismemberment |  |  |  |  |  |  |  |  |  |  |
Group Life | 1,871.1 |  |  |  |  | 1,784.7 |  |  |  |  | 1,679.0 |  |  |
Accidental Death & Dismemberment | 195.6 |  |  |  |  | 186.1 |  |  |  |  | 175.5 |  |  |
Supplemental and Voluntary |  |  |  |  |  |  |  |  |  |  |
Voluntary Benefits | 927.4 |  |  |  |  | 879.2 |  |  |  |  | 850.1 |  |  |
Individual Disability | 615.1 |  |  |  |  | 566.0 |  |  |  |  | 527.0 |  |  |
Dental and Vision | 324.8 |  |  |  |  | 297.1 |  |  |  |  | 278.1 |  |  |
| 7,083.5 |  |  |  |  | 6,883.2 |  |  |  |  | 6,579.2 |  |  |
Unum International |  |  |  |  |  |  |  |  |  |  |
Unum UK |  |  |  |  |  |  |  |  |  |  |
Group Long-term Disability | 427.5 |  |  |  |  | 418.0 |  |  |  |  | 396.1 |  |  |
Group Life | 275.7 |  |  |  |  | 211.3 |  |  |  |  | 169.3 |  |  |
Supplemental | 184.2 |  |  |  |  | 165.6 |  |  |  |  | 141.5 |  |  |
Unum Poland | 195.4 |  |  |  |  | 154.6 |  |  |  |  | 118.3 |  |  |
| 1,082.8 |  |  |  |  | 949.5 |  |  |  |  | 825.2 |  |  |
Colonial Life |  |  |  |  |  |  |  |  |  |  |
Accident, Sickness, and Disability | 993.5 |  |  |  |  | 969.5 |  |  |  |  | 946.1 |  |  |
Life | 483.6 |  |  |  |  | 458.0 |  |  |  |  | 426.5 |  |  |
Cancer and Critical Illness | 362.0 |  |  |  |  | 356.4 |  |  |  |  | 353.5 |  |  |
| 1,839.1 |  |  |  |  | 1,783.9 |  |  |  |  | 1,726.1 |  |  |
Closed Block |  |  |  |  |  |  |  |  |  |  |
Long-term Care | 670.8 |  |  |  |  | 696.1 |  |  |  |  | 696.0 |  |  |
All Other | 154.8 |  |  |  |  | 184.7 |  |  |  |  | 219.5 |  |  |
| 825.6 |  |  |  |  | 880.8 |  |  |  |  | 915.5 |  |  |
Total Premium Income | $ | 10,831.0 |  |  |  |  | $ | 10,497.4 |  |  |  |  | $ | 10,046.0 |  |  |
Selected Operating Statement Data by Segment |
| Year Ended December 31, 2025
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 7,083.5 |  |  | $ | 1,082.8 |  |  | $ | 1,839.1 |  |  | $ | 825.6 |  |  | $ | — |  |  | $ | 10,831.0 |
Net Investment Income | 604.2 |  |  | 145.6 |  |  | 172.6 |  |  | 1,016.5 |  |  | 93.8 |  |  | 2,032.7 |
Other Income 1 | 249.8 |  |  | 7.7 |  |  | 1.6 |  |  | 49.9 |  |  | 0.4 |  |  | 309.4 |
Adjusted Operating Revenue | $ | 7,937.5 |  |  | $ | 1,236.1 |  |  | $ | 2,013.3 |  |  | $ | 1,892.0 |  |  | $ | 94.2 |  |  | $ | 13,173.1 |
Adjusted Policy Benefits 2 | $ | 4,353.3 |  |  | $ | 793.0 |  |  | $ | 908.1 |  |  | $ | 1,542.2 |  |  | $ | — |  |  | $ | 7,596.6 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)3 | (86.2) |  |  | (20.2) |  |  | (23.0) |  |  | 90.0 |  |  | — |  |  | (39.4) |
Commissions | 794.9 |  |  | 95.7 |  |  | 398.6 |  |  | 66.1 |  |  | — |  |  | 1,355.3 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 208.8 |  |  | 208.8 |
Deferral of Acquisition Costs | (331.7) |  |  | (22.0) |  |  | (343.4) |  |  | — |  |  | — |  |  | (697.1) |
Amortization of Deferred Acquisition Costs | 283.3 |  |  | 10.7 |  |  | 233.1 |  |  | — |  |  | — |  |  | 527.1 |
Other Segment Items 4 | 1,652.0 |  |  | 226.6 |  |  | 376.3 |  |  | 130.2 |  |  | 57.0 |  |  | 2,442.1 |
Adjusted Benefits and Expenses | $ | 6,665.6 |  |  | $ | 1,083.8 |  |  | $ | 1,549.7 |  |  | $ | 1,828.5 |  |  | $ | 265.8 |  |  | $ | 11,393.4 |
Adjusted Operating Income (Loss) | $ | 1,271.9 |  |  | $ | 152.3 |  |  | $ | 463.6 |  |  | $ | 63.5 |  |  | $ | (171.6) |  |  | $ | 1,779.7 |
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, as well as the accelerated charitable contribution and the settlement loss on the U.S. pension plan annuity purchase 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 2025 was $86.7 million, $20.7 million, $16.9 million, $6.0 million, and $0.5 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
| Year Ended December 31, 2024
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 6,883.2 |  |  | $ | 949.5 |  |  | $ | 1,783.9 |  |  | $ | 880.8 |  |  | $ | — |  |  | $ | 10,497.4 |
Net Investment Income | 632.2 |  |  | 128.8 |  |  | 161.5 |  |  | 1,148.9 |  |  | 58.6 |  |  | 2,130.0 |
Other Income | 235.9 |  |  | 1.6 |  |  | 4.0 |  |  | 51.7 |  |  | 1.3 |  |  | 294.5 |
Adjusted Operating Revenue | $ | 7,751.3 |  |  | $ | 1,079.9 |  |  | $ | 1,949.4 |  |  | $ | 2,081.4 |  |  | $ | 59.9 |  |  | $ | 12,921.9 |
Adjusted Policy Benefits 1 | $ | 4,246.5 |  |  | $ | 693.6 |  |  | $ | 885.4 |  |  | $ | 1,629.6 |  |  | $ | — |  |  | $ | 7,455.1 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)2 | (238.2) |  |  | (44.4) |  |  | (34.7) |  |  | 112.4 |  |  | — |  |  | (204.9) |
Commissions | 729.3 |  |  | 82.5 |  |  | 378.4 |  |  | 68.4 |  |  | — |  |  | 1,258.6 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 201.1 |  |  | 201.1 |
Deferral of Acquisition Costs | (320.9) |  |  | (17.8) |  |  | (312.8) |  |  | — |  |  | — |  |  | (651.5) |
Amortization of Deferred Acquisition Costs | 292.5 |  |  | 9.5 |  |  | 219.0 |  |  | — |  |  | — |  |  | 521.0 |
Other Segment Items 3 | 1,602.9 |  |  | 198.7 |  |  | 347.4 |  |  | 133.2 |  |  | 50.0 |  |  | 2,332.2 |
Adjusted Benefits and Expenses | $ | 6,312.1 |  |  | $ | 922.1 |  |  | $ | 1,482.7 |  |  | $ | 1,943.6 |  |  | $ | 251.1 |  |  | $ | 10,911.6 |
Adjusted Operating Income (Loss) | $ | 1,439.2 |  |  | $ | 157.8 |  |  | $ | 466.7 |  |  | $ | 137.8 |  |  | $ | (191.2) |  |  | $ | 2,010.3 |
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 2024 was $85.0 million, $17.9 million, $15.1 million, $5.4 million and $0.1 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
| Year Ended December 31, 2023
| Unum US |  | Unum International |  | Colonial Life |  | Closed Block |  | Corporate |  | Total
| (in millions of dollars)
Premium Income | $ | 6,579.2 |  |  | $ | 825.2 |  |  | $ | 1,726.1 |  |  | $ | 915.5 |  |  | $ | — |  |  | $ | 10,046.0 |
Net Investment Income | 639.9 |  |  | 137.2 |  |  | 153.5 |  |  | 1,066.3 |  |  | 99.8 |  |  | 2,096.7 |
Other Income | 220.5 |  |  | 1.6 |  |  | 1.2 |  |  | 52.6 |  |  | 3.3 |  |  | 279.2 |
Adjusted Operating Revenue | $ | 7,439.6 |  |  | $ | 964.0 |  |  | $ | 1,880.8 |  |  | $ | 2,034.4 |  |  | $ | 103.1 |  |  | $ | 12,421.9 |
Adjusted Policy Benefits 1 | $ | 4,221.2 |  |  | $ | 581.4 |  |  | $ | 877.1 |  |  | $ | 1,597.4 |  |  | $ | — |  |  | $ | 7,277.1 |
Adjusted Policy Benefits - Remeasurement Loss (Gain)2 | (283.9) |  |  | (19.5) |  |  | 1.7 |  |  | 69.7 |  |  | — |  |  | (232.0) |
Commissions | 664.4 |  |  | 72.5 |  |  | 359.4 |  |  | 73.8 |  |  | — |  |  | 1,170.1 |
Interest and Debt Expense | — |  |  | — |  |  | — |  |  | — |  |  | 194.8 |  |  | 194.8 |
Deferral of Acquisition Costs | (314.7) |  |  | (14.6) |  |  | (302.9) |  |  | — |  |  | — |  |  | (632.2) |
Amortization of Deferred Acquisition Costs | 267.6 |  |  | 8.4 |  |  | 205.4 |  |  | — |  |  | — |  |  | 481.4 |
Other Segment Items 3 | 1,529.5 |  |  | 177.7 |  |  | 340.0 |  |  | 128.6 |  |  | 54.7 |  |  | 2,230.5 |
Adjusted Benefits and Expenses | $ | 6,084.1 |  |  | $ | 805.9 |  |  | $ | 1,480.7 |  |  | $ | 1,869.5 |  |  | $ | 249.5 |  |  | $ | 10,489.7 |
Adjusted Operating Income (Loss) | $ | 1,355.5 |  |  | $ | 158.1 |  |  | $ | 400.1 |  |  | $ | 164.9 |  |  | $ | (146.4) |  |  | $ | 1,932.2 |
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 2023 for all segments except Corporate.
3 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 2023 was $76.3 million, $14.6 million, $13.6 million, $5.2 million, and $0.6 million for our Unum US, Unum International, Colonial Life, Closed Block and Corporate segments, respectively.
Assets by Segment |
| December 31
| 2025 |  | 2024
| (in millions of dollars)
Assets |  |  |
Unum US | $ | 14,635.3 |  |  | $ | 14,981.6 |
Unum International | 3,648.0 |  |  | 3,291.3 |
Colonial Life | 5,289.9 |  |  | 4,964.2 |
Closed Block | 33,887.8 |  |  | 33,376.0 |
Corporate | 6,058.4 |  |  | 5,346.2 |
Total Assets | $ | 63,519.4 |  |  | $ | 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:
| Year Ended December 31
| 2025 |  | 2024 |  | 2023
| (in millions of dollars)
Total Revenue | $ | 13,075.5 |  |  | $ | 12,887.3 |  |  | $ | 12,385.9 |
Excluding: |  |  |  |  |
Net Investment Loss | (106.6) |  |  | (34.6) |  |  | (36.0) |
Amortization of the Deferred Gain on Reinsurance | 9.0 |  |  | — |  |  | — |
Adjusted Operating Revenue | $ | 13,173.1 |  |  | $ | 12,921.9 |  |  | $ | 12,421.9 |
Income Before Income Tax | $ | 933.5 |  |  | $ | 2,251.3 |  |  | $ | 1,640.1 |
Excluding: |  |  |  |  |
Net Investment Loss |  |  |  |  |
Net Investment Loss Related to the Fortitude Re Reinsurance Transaction | (46.8) |  |  | — |  |  | — |
Net Investment Loss, Other | (59.8) |  |  | (34.6) |  |  | (36.0) |
Total Net Investment Loss | (106.6) |  |  | (34.6) |  |  | (36.0) |
Amortization of the Cost of Reinsurance | (116.7) |  |  | (41.4) |  |  | (44.1) |
Amortization of the Deferred Gain on Reinsurance | 9.0 |  |  | — |  |  | — |
Non-Contemporaneous Reinsurance | (29.6) |  |  | (25.1) |  |  | (34.8) |
Reserve Assumption Updates | (478.5) |  |  | 357.4 |  |  | (177.2) |
Settlement Loss on the U.S. Pension Plan Annuity Purchase | (103.8) |  |  | — |  |  | — |
Accelerated Charitable Contribution | (20.0) |  |  | — |  |  | — |
Loss on Legal Settlement | — |  |  | (15.3) |  |  | — |
Adjusted Operating Income | $ | 1,779.7 |  |  | $ | 2,010.3 |  |  | $ | 1,932.2 |

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