Unum Group (UNM) is poised to grow on the strength of disciplined sales trends, strong persistency, an improving rate environment, favorable risk experience and a solid capital position. It has a VGM Score of B. This helps to identify stocks with the most attractive value, growth and momentum. Earnings of this leading disability income writer have increased 9% over the last five years, outperforming the industry average of 3.8%. UNM delivered a four-quarter average earnings surprise of 3.76%. The Zacks Cons ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended March 31, 2024 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-11294 Unum Group (Exact name of registrant as specified in its charter) Delaware 62-1598430 (State or other jurisdiction of incorp ...

Unum Group (NYSE:UNM) Q1 2024 Earnings Conference Call May 1, 2024 8:00 AM ET Company Participants Matt Royal - SVP, IR Rick McKenney - President and CEO Steve Zabel - CFO Chris Pyne - EVP, Group Benefits Timothy Arnold - EVP, Voluntary Benefits and President-Colonial Life Mark Till - CEO, Unum International Conference Call Participants Ryan Krueger - KBW Elyse Greenspan - Wells Fargo Suneet Kamath - Jefferies Tom Gallagher - Evercore ISI Joel Hurwitz - Dowling & Partners Jimmy Bhullar - JPMorgan Wilma Burd ...

Unum Group Statistical Supplement First Quarter 2024 TABLE OF CONTENTS (in millions of dollars, except share data and where noted) Interim Results are Unaudited | | Page | | --- | --- | | Financial Highlights | 1 | | Capital Metrics | 2 | | Ratings | 3 | | Consolidated Statements of Income | 4 | | Sales Data by Segment | 5 | | Consolidated Balance Sheets | 6 | | Financial Results by Segment | 7 | | Quarterly Historical Financial Results by Segment | 8 | | Financial Results and Selected Statistics by Segment ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-11294 Unum Group (Exact name of registrant as specified in its charter) Delaware 62-1598430 (State or other jurisdict ...

Uก้บู้ที่ GROUP® 2023 Results & 2024 Outlook January 31, 2024 2 2023 KEY MESSAGES • Record premiums and strong sales momentum • Fully recognized the premium deficiency reserve (PDR) • Record financial strength with RBC of 415% and holding company liquidity of $1.7B 4 • Core business earnings power strong, generating significant cashflow • Well-positioned with financial flexibility to win in the market • Inflection point for free-cash flow generation post PDR 4Q & FY2023 RESULTS $1.79 / $7.66 4Q-23 / FY-23 A ...

Financial Data and Key Metrics Changes - The company reported a 23% increase in adjusted operating EPS, reaching $7.66 compared to $6.21 in 2022 [18][26] - Full-year premium for core operations increased by 5.2%, with a fourth-quarter increase of 6.1% year-over-year [43][49] - The company ended the year with holding company cash of $1.7 billion and a risk-based capital (RBC) ratio of 415% [29][39] Business Line Data and Key Metrics Changes - Unum U.S. saw adjusted operating income increase by 39.4% to $1.36 billion, driven by strong performance in group disability, which experienced a 56.1% growth in adjusted operating earnings [49] - Colonial Life reported a sales growth of 6.2% and premium growth of 1.4% for the full year, with expectations for further growth in 2024 [53] - Unum International achieved a sales growth of 26.7% and premium growth of 11.6%, significantly exceeding initial expectations [36][52] Market Data and Key Metrics Changes - The company reported a consolidated sales growth of high-single-digits, with premium growth projected in the range of 5% to 7% for 2024 [31] - The U.K. business showed strong growth with a full-year sales increase of 18.6% and premium growth of 11.6% [52] - In Poland, sales increased by 76% and premium growth was 24.2% for the year [52] Company Strategy and Development Direction - The company aims to enhance its core operations and maintain a disciplined approach while continuing to innovate [30][32] - There is a focus on leveraging technology to improve customer experience, with initiatives like HR Connect and MyUnum [33] - The company plans to pursue selective M&A opportunities that align with its growth strategy while continuing to return capital to shareholders [38][70] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the supportive market backdrop and economic environment for continued growth [30][39] - The company anticipates generating free cash flow between $1.2 billion and $1.4 billion per year, with no additional capital contributions needed for long-term care in 2024 [63][70] - Management highlighted the importance of maintaining strong margins and a disciplined underwriting approach in a competitive market [100] Other Important Information - The company raised its dividend by 10% and plans to double share repurchases in 2024 with a $500 million authorization [27][39] - The effective tax rate for the fourth quarter was elevated at 22.8%, impacting EPS by approximately $0.03 [45] Q&A Session Summary Question: Core business earnings sustainability - Management believes core business earnings can be maintained, with group disability margins expected to remain stable [97][100] Question: Long-term care experience confidence - Management indicated that elevated incidence levels are likely a catch-up from low levels during the pandemic, with expectations for continued monitoring [101][103]

Financial Performance - Premium income for Q3 2023 was $2,525.9 million, a 5.7% increase from Q3 2022, and for the first nine months of 2023, it was $7,494.3 million, up 4.0% from the same period in 2022[364]. - Total revenue for Q3 2023 reached $3,092.5 million, reflecting a 4.5% increase compared to Q3 2022, and for the first nine months of 2023, total revenue was $9,240.8 million, a 2.9% increase from the prior year[364]. - Net investment income for Q3 2023 was $526.0 million, a 2.8% increase from Q3 2022, while for the first nine months, it decreased by 2.0% to $1,565.9 million compared to the same period in 2022[364][368]. - The consolidated benefit ratio for Q3 2023 was 77.1%, up from 62.9% in Q3 2022, indicating an unfavorable benefits experience[371]. - Commissions for Q3 2023 were $289.7 million, a 6.7% increase from Q3 2022, driven by higher overall sales and in-force block growth[373]. Segment Performance - The Unum US segment reported sales of $170.9 million in Q3 2023, an 8.5% increase from Q3 2022, and $762.1 million for the first nine months, an 18.1% increase from the same period in 2022[376]. - Adjusted Operating Revenue for the Unum US segment increased to $1,881.9 million in Q3 2023, a 5.9% rise from $1,776.4 million in Q3 2022[382]. - Adjusted Operating Income for the Unum US segment rose to $357.8 million in Q3 2023, a significant 27.4% increase from $280.8 million in Q3 2022[382]. - Adjusted Operating Revenue for Unum US Group Life was $491.0 million in Q3 2023, a 0.8% increase from $487.2 million in Q3 2022[387]. - Total Premium Income for Unum International increased by 21.5% to $210.6 million in Q3 2023, compared to $173.3 million in Q3 2022[407]. Investment and Financial Position - As of September 30, 2023, the total fair value of fixed maturity securities was $34,070.7 million, with net unrealized losses of $4,153.6 million[454]. - The company sold over $700 million of shorter duration bonds in Q3 2023, realizing approximately $35 million in investment losses from these sales[369]. - The carrying value of investments in private equity partnerships increased to $1,280.9 million as of September 30, 2023, from $1,194.3 million at December 31, 2022[472]. - The company has minimal exposure to policy withdrawal risk as the majority of liabilities related to insurance contracts are not interest rate sensitive[450]. - The company anticipates volatility in net investment income due to fluctuations in miscellaneous investment income and changes in market conditions[439]. Assumptions and Sensitivity Analysis - Sensitivity analysis indicates that a 10% change in claim resolution rates for the Unum US group long-term disability product line could result in a $100 million change, which is 1.8% of the liability for future policy benefits[350]. - The liability for future policy benefits is highly sensitive to key assumptions, with significant variability possible in claim costs due to long-term payout periods[355]. - The company updated policyholder lapse and mortality assumptions for DAC amortization during Q3 2023, consistent with related updates for future policy benefits[360]. - The sensitivity analysis for long-term care liabilities indicates that changes in assumptions could materially impact the present value of gross liability cash flows[353]. - The company monitors emerging experience to inform long-term assumptions, particularly for product lines with long-term claim payout periods[355]. Corporate Governance and Future Outlook - The board of directors authorized a share repurchase program of up to $500.0 million beginning January 1, 2024, with $75.9 million remaining under the current program as of September 30, 2023[480]. - The company plans to enhance digital capabilities and technology to improve customer experience and operational efficiency[400]. - The company anticipates increased adjusted operating income growth in 2023 supported by premium growth and improved claim experience[402]. - The company plans to invest in new solutions and digital capabilities to enhance customer experience and drive growth in 2023[429]. - The company has ongoing dialogue with rating agencies regarding its insurance risk profile and financial flexibility[523].

Financial Data and Key Metrics Changes - The company reported a net income of $202 million or $1.02 per diluted common share for Q3 2023, a decrease from $510.3 million or $2.53 per diluted common share in Q3 2022 [30] - Adjusted operating income increased 15% year-over-year to $381.7 million or $1.94 per diluted common share, up from $332.3 million or $1.65 per diluted common share in the previous year [53] - Statutory after-tax operating income for Q3 2023 was $532.7 million, bringing year-to-date statutory after-tax operating income to $1.1 billion [16][60] Business Line Data and Key Metrics Changes - Unum US saw a premium growth of 6.5% year-over-year, with adjusted operating income increasing 27.4% to $357.8 million [44][58] - Colonial Life's premium income was $431.2 million, a 1.9% increase from the prior year, with sales in Q3 reaching $121.3 million, up 4.7% [48][14] - Unum International reported adjusted operating income of $36.8 million, up from $24.9 million in Q3 2022, with premium growth of 12% [46][58] Market Data and Key Metrics Changes - The UK segment generated premium growth of 9.9% year-over-year, while Poland's operation grew by 27.3% [68] - The overall core operations earned premium grew by 4.9% year-to-date, just below the top end of the full-year outlook of 3% to 5% [64] Company Strategy and Development Direction - The company plans to increase its share repurchase authorization to $500 million for 2024, reflecting confidence in capital generation and deployment [34][62] - The focus remains on growing high-margin businesses, enhancing the Closed Block's certainty, and effectively returning capital to shareholders [92] - The company is optimistic about future growth rates, particularly in Colonial Life, supported by successful agent recruitment and technology initiatives [22][58] Management's Comments on Operating Environment and Future Outlook - Management highlighted a favorable macro environment with strong employment, higher interest rates, and a benign credit environment as positives for the business [33] - The company expects to meet its Colonial Life premium target in 2023 and anticipates continued growth momentum [58] - Management expressed confidence in the sustainability of current recovery trends and the overall strength of the franchise [57][82] Other Important Information - The company completed its annual GAAP reserve assumption review, resulting in a net increase in reserves of $177.2 million, with favorable adjustments in group disability and Colonial Life [71] - The premium deficiency reserve is expected to be fully funded, eliminating the need for additional capital contributions for the next five years [55][111] - The company has de-risked its balance sheet by selling over $700 million of shorter duration bonds and reinvesting in higher credit quality, longer-duration bonds [77] Q&A Session Summary Question: Can you provide an update on long-term care assumptions? - Management indicated that the majority of the financial impact was related to strengthening mortality and lapse assumptions for older age populations, with a focus on policies with richer benefits [114] Question: What drove the $200 million to $300 million contribution to First Unum? - The increase was attributed to the need to strengthen the asset adequacy reserve due to new assumptions, despite a strong hedge program [136] Question: How do current interest rates affect the premium deficiency reserve? - Management noted that if interest rates remain high, a significant portion of the reserves could become redundant over time, potentially turning into capital [91]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q (Mark One) ☒ Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended June 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-11294 Unum Group (Exact name of registrant as specified in its charter) Delaware 62-1598430 (State or other jurisdiction of incorpo ...