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Statutory Financial Information | 12 Months Ended
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Dec. 31, 2025
Statutory Financial Information [Abstract] |
Statutory Financial Information | Statutory Net Income, Capital and Surplus, and Dividends Statutory net income for U.S. life insurance companies is reported in conformity with statutory accounting principles prescribed by the National Association of Insurance Commissioners (NAIC) and adopted by applicable domiciliary state laws. The commissioners of the states of domicile have the right to permit other specific practices that may deviate from prescribed practices. Our traditional U.S. life insurance subsidiaries have no permitted statutory accounting practices that differ materially from statutory accounting principles prescribed by the NAIC. Unum America cedes blocks of long-term care business to Fairwind, which is an affiliated captive reinsurance subsidiary (captive reinsurer) domiciled in the United States, with Unum Group as the ultimate parent. This captive reinsurer was established for the limited purpose of reinsuring risks attributable to specified policies issued or reinsured by Unum America. Fairwind, which is domiciled in the state of Vermont, is required to follow GAAP in accordance with Vermont reporting requirements for pure captive insurance companies, unless the commissioner permits the use of some other basis of accounting. Fairwind has permission from Vermont to follow accounting practices that are generally consistent with current NAIC statutory accounting principles for its insurance reserves and invested assets supporting reserves. All other assets and liabilities are accounted for in accordance with GAAP, as prescribed by Vermont, which includes the full recognition of deferred tax assets which are more likely than not to be realized. Statutory accounting principles have a stricter limitation for the recognition of deferred tax assets. The impact of following the prescribed and permitted practices of Vermont rather than statutory accounting principles prescribed by the NAIC resulted in higher capital and surplus for Fairwind of approximately $185 million and $334 million as of December 31, 2025 and 2024, respectively. The operating results and capital and surplus of our traditional U.S. life insurance subsidiaries and our captive reinsurer, prepared in accordance with prescribed or permitted accounting practices of the NAIC or states of domicile, are presented separately below.
| Year Ended December 31
| 2025 |  | 2024 |  | 2023
| (in millions of dollars)
Combined Net Income (Loss) |  |  |  |  |
Traditional U.S. Life Insurance Subsidiaries | $ | 634.0 |  |  | $ | 1,322.4 |  |  | $ | 1,329.9 |
Captive Reinsurer | $ | 52.5 |  |  | $ | 662.2 |  |  | $ | (318.3) |
Combined Net Gain (Loss) from Operations, After Tax |  |  |  |  |
Traditional U.S. Life Insurance Subsidiaries | $ | 652.5 |  |  | $ | 1,337.0 |  |  | $ | 1,351.5 |
Captive Reinsurer | $ | 75.5 |  |  | $ | 660.3 |  |  | $ | (279.4) |
| December 31
| 2025 |  | 2024
| (in millions of dollars)
Combined Capital and Surplus |  |  |
Traditional U.S. Life Insurance Subsidiaries | $ | 3,770.6 |  |  | $ | 3,909.7 |
Captive Reinsurer | $ | 2,003.3 |  |  | $ | 1,931.6 |
Our foreign insurance subsidiaries are subject to oversight by the relevant authoritative bodies in their respective jurisdictions and must comply with local capital and solvency standards. U.K. Solvency II, the system of prudential regulation applying in the U.K., prescribes capital requirements and risk management standards for the U.K. insurance industry. As derived from the most recent annual financial statements for December 31, 2024, based on U.K. Solvency II requirements, regulatory net income and eligible own funds available of Unum Limited, our most significant international insurance subsidiary which is based in the U.K., were £106.7 million and £749.8 million, respectively. Risk-based capital (RBC) standards for U.S. life insurance companies are prescribed by the NAIC. The domiciliary states of our U.S. insurance subsidiaries have all adopted a version of the RBC model formula of the NAIC, which prescribes a system for assessing the adequacy of statutory capital and surplus for all life and health insurers. The basis of the system is a risk-based formula that applies prescribed factors to the various risk elements in a life and health insurer's business to report a minimum capital requirement proportional to the amount of risk assumed by the insurer. The life and health RBC formula is designed to measure annually (i) the risk of loss from asset defaults and asset value fluctuations, (ii) the risk of loss from adverse mortality and morbidity experience, (iii) the risk of loss from mismatching of asset and liability cash flow due to changing interest rates, and (iv) business risks. The formula is used as an early warning tool to identify companies that are potentially inadequately capitalized. State insurance laws grant insurance regulators the authority to require various actions by, or take various actions against, insurers whose total adjusted capital does not meet or exceed certain RBC levels. The total adjusted capital of each of our U.S. insurance subsidiaries at December 31, 2025 is in excess of those RBC levels. Restrictions under applicable state insurance laws limit the amount of dividends that can be paid to a parent company from its insurance subsidiaries in any 12-month period without prior approval by regulatory authorities. For life insurance companies domiciled in the U.S., that limitation generally equals, depending on the state of domicile, either ten percent of an insurer's statutory surplus with respect to policyholders as of the preceding year end or the statutory net gain from operations, excluding net realized capital gains and losses, of the preceding year. The payment of dividends to a parent company from a life insurance subsidiary is generally further limited to the amount of unassigned funds. Based on the restrictions under current law, approximately $631 million is available, without prior approval by regulatory authorities, during 2026 for the payment of dividends to Unum Group from its traditional U.S. life insurance subsidiaries. The ability of our captive insurer to pay dividends to Unum Group will depend on the satisfaction of applicable regulatory requirements and on the performance of the business reinsured by Fairwind. We also have the ability to receive dividends from our foreign subsidiaries, primarily in the U.K., for which the payment may be subject to applicable insurance company regulations and capital guidance. Approximately £125 million is considered distributable from Unum Limited during 2026, subject to local solvency standards and regulatory approval. Deposits At December 31, 2025 and 2024, our U.S. life insurance subsidiaries had on deposit with U.S. regulatory authorities securities with a book value of $123.4 million and $119.3 million, respectively, held for the protection of policyholders.

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