Financial Data and Key Metrics Changes - Unum reported Q4 2020 net income of $135.4 million, or $0.66 per diluted share, down from $296.2 million, or $1.44 per diluted share in Q4 2019 [6][9] - After-tax adjusted operating income for Q4 2020 was $235.3 million, or $1.15 per diluted share, compared to $290.7 million, or $1.41 per diluted share in the same quarter last year [9][46] - The company experienced a decline in premium income growth, with core business premiums growing only 0.6% for the year and down 1.4% in Q4 [21][22] Business Line Data and Key Metrics Changes - Unum US Group Disability adjusted operating income decreased to $64.7 million in Q4 from $73 million in Q3, impacted by higher short-term disability claims due to COVID-19 [57][58] - Unum US Group Life and AD&D reported a loss of $21.9 million in Q4, compared to income of $13.9 million in Q3, primarily due to unfavorable claims experience [62] - Colonial Life's adjusted operating income fell to $71.2 million in Q4 from $92.2 million in Q3, driven by a higher benefit ratio due to increased COVID-related claims [78] Market Data and Key Metrics Changes - The unemployment rate improved to 6.7% in December from 7.8% in September, but remained higher than the pre-pandemic level of 3.5% [51] - COVID-related deaths in the US totaled 345,000 for the year, with 138,000 occurring in Q4, significantly impacting the company's results [15][49] - The interest rate environment remained challenging, with the yield on a 10-year treasury falling to 92 basis points by year-end [28] Company Strategy and Development Direction - The company is optimistic about a rebound in results in the second half of 2021 as vaccination efforts progress and COVID-related mortality decreases [20][106] - Unum is focusing on enhancing digital sales and enrollment tools, which have seen increased adoption among agents, particularly in Colonial Life [24][82] - The company aims to leverage the capital released from the Closed Block individual disability reinsurance transaction to improve financial flexibility [35][89] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the significant impact of COVID-19 on mortality rates and claims, which are expected to continue affecting results in early 2021 [16][106] - The company anticipates a modest decline of 5% to 6% in adjusted operating income per share for 2021, primarily due to higher COVID-related mortality [105] - Management expressed confidence in returning to historic levels of growth and profitability by 2022 as the pandemic subsides [20][106] Other Important Information - The company paid out over $150 million in COVID claims, reflecting its commitment to customer service during the pandemic [33] - Unum's capital position remained strong, with holding company cash at $1.5 billion and a risk-based capital ratio of approximately 365% [31][102] - The company completed a significant reinsurance transaction that is expected to release approximately $650 million of capital [89][93] Q&A Session Summary Question: Utilization of critical elements and related products - Management expects elevated utilization to persist in Q1 2021, but does not see it as a long-term pressure [114][115] Question: Impact of higher COVID-related mortality on 2021 expectations - The decline in adjusted operating income is primarily driven by higher COVID-related impacts in the first half of 2021 [117][118] Question: Group disability underwriting results and potential conversion of short-term to long-term claims - Management noted that while there is some pressure from short-term disability claims, they do not expect significant conversion to long-term claims [123][129] Question: Drivers of statutory loss in Q4 - The statutory loss was primarily driven by accounting around the reinsurance transaction, with favorable results in the Fairwind structure offsetting some pressures [130][132]

Financial Performance - Net income for the three months ended September 30, 2020, was $231.1 million, a decrease of 3.7% from $242.0 million in the same period of 2019[17]. - Net income for the nine months ended September 30, 2020, was $657.6 million, down from $804.1 million in the same period of 2019, representing a decrease of 18.2%[21]. - Total revenue for the three months ended September 30, 2020, was $2,996.3 million, a slight increase from $2,960.0 million in 2019, reflecting a growth of 1.2%[17]. - Adjusted operating income for the three months ended September 30, 2020, was $318.5 million, compared to $350.8 million in 2019, representing a decline of approximately 9.2%[175]. - The total comprehensive income for the nine months ended September 30, 2020, was $150.4 million, compared to $89.3 million in the same period of 2019[158]. Assets and Liabilities - Total assets increased to $69,616.0 million as of September 30, 2020, compared to $67,013.4 million as of December 31, 2019, reflecting a growth of 3.9%[14]. - Total liabilities rose to $58,723.8 million, up from $57,048.4 million, indicating an increase of 2.9%[16]. - The company’s long-term debt increased to $3,378.6 million as of September 30, 2020, from $2,926.9 million, marking an increase of 15.4%[16]. - Total stockholders' equity at the end of the period was $10,892.2 million, compared to $9,631.6 million in the previous year, reflecting an increase of 13.1%[20]. Investment Income - Net investment income for the three months ended September 30, 2020, was $613.2 million, compared to $599.4 million in 2019, showing a growth of 2.9%[17]. - Net investment income for the nine months ended September 30, 2020, was $1,767.2 million versus $1,819.0 million[121]. - The company experienced a net realized investment loss of $105.8 million for the nine months ended September 30, 2020, compared to a gain of $32.4 million in 2019[21]. Premium Income - Premium income for the nine months ended September 30, 2020, was $7,058.2 million, slightly up from $7,013.0 million in 2019, representing an increase of 0.6%[17]. - Premium income for the three months ended September 30, 2020, is $2,318.1 million, slightly down from $2,331.2 million in the same period of 2019[168]. - Unum US reported premium income of $1,483.4 million for the three months ended September 30, 2020, down from $1,501.9 million in the same period of 2019[170]. - Colonial Life's premium income for the three months ended September 30, 2020, remains stable at $419.9 million, unchanged from the same period in 2019[170]. Claims and Expenses - Total benefits and expenses for the three months ended September 30, 2020, were $2,696.7 million, compared to $2,660.6 million in 2019, indicating an increase of 1.4%[17]. - The total liability for unpaid claims and claim adjustment expenses is $22,868.3 million as of September 30, 2020, compared to $22,958.0 million in 2019[164]. - Total incurred claims for the current year amount to $5,126.3 million, compared to $5,086.4 million in the prior year, reflecting an increase of approximately 0.8%[162]. Reserves and Allowances - The reserves for future policy and contract benefits increased to $48,844.3 million as of September 30, 2020, from $48,060.8 million in 2019[164]. - The allowance for expected credit losses increased to $14.6 million for the nine months ended September 30, 2020, primarily due to the impact of COVID-19 on commercial real estate values[109]. - The allowance for expected credit losses on premium receivables increased from $23.8 million on January 1, 2020, to $41.1 million by September 30, 2020[29]. Derivative Instruments and Hedging - The total derivative assets designated as hedging instruments amounted to $38.0 million, while the total derivative liabilities were $9.9 million[149]. - The company utilized interest rate swaps to hedge against both rising and falling interest rates, effectively converting fixed rate securities into floating rate securities[128]. - The fair value of derivative liabilities not designated as hedging instruments totaled $77.8 million as of September 30, 2020, compared to $45.2 million as of December 31, 2019, showing an increase of approximately 72%[150]. Organizational Changes and Legal Matters - The company incurred charges of $23.3 million during Q3 2020 related to organizational design updates, primarily for employee severance and lease terminations[198]. - The company is involved in several litigation matters, including three alleged securities class action lawsuits, with outcomes that could materially affect consolidated results[191]. Tax and Regulatory Changes - The U.K. tax rate increased from 17% to 19% retroactively effective April 1, 2020, resulting in an additional tax expense of $9.3 million[201].

Unum Group (NYSE:UNM) Q3 2020 Earnings Conference Call October 28, 2020 8:00 AM ET Company Participants Tom White - Investor Relations Rick McKenney - President & Chief Executive Officer Steve Zabel - Chief Financial Officer Mike Simonds - Chief Operating Officer Peadar O'Donnell - Head-Unum International Business Tim Arnold - Head-Colonial Life & Voluntary Benefits Conference Call Participants Jimmy Bhullar - JPMorgan Ryan Krueger - Keefe, Bruyette & Woods Suneet Kamath - Citi Tom Gallagher - Evercore Mark ...

Unum Group (NYSE:UNM) Q2 2020 Earnings Conference Call July 29, 2020 8:00 AM ET Company Participants Tom White – Investor Relations Rick McKenney – President and Chief Executive Officer Steve Zabel – Chief Financial Officer Mike Simonds – Chief Operating Officer Tim Arnold – Head-Colonial Life and Voluntary Benefits Conference Call Participants Humphrey Lee – Dowling & Partners Ryan Krueger – KBW Tom Gallagher – Evercore Andrew Kligerman – Credit Suisse Mark Hughes – SunTrust Suneet Kamath – Citi Erik Bass ...

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, 2020 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 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 ...

(Exact name of registrant as specified in its charter) UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D. C. 20549 FORM 10-Q Delaware 62-1598430 (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, 2020 ☐ 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 (Registrant's telephone number, includ ...

Unum Group (NYSE:UNM) Q1 2020 Results Earnings Conference Call May 5, 2020 8:00 AM ET Company Participants Tom White - SVP, IR Rick McKenney - President & CEO Steven Zabel - Executive Vice President & CFO Mike Simonds - Executive Vice President & COO Peter O'Donnell - Executive Vice President UNUM International Tim Arnold - Executive Vice President Voluntary Benefits &President of Colonial Life Conference Call Participants Ryan Krueger - Keefe, Bruyette & Woods Jimmy Bhullar - JP Morgan Mark Hughes - SunTr ...

Competitive Environment - The company operates in a highly competitive environment, particularly in the voluntary benefits market, facing significant competition from both traditional and non-traditional insurers[104]. - The company must attract and retain independent agents and brokers to market its products, facing competition for these resources based on product offerings and financial strength[108]. Regulatory Environment - The company’s U.S. insurance subsidiaries are subject to extensive regulation, including oversight by state insurance regulators and the U.S. Department of Labor, which impacts operational compliance[111]. - Risk-based capital (RBC) standards are prescribed by the National Association of Insurance Commissioners (NAIC), which assess the adequacy of statutory capital for life and health insurers[116]. - The NAIC is reviewing solvency regulation frameworks, which may lead to significant changes in capital requirements and risk management practices for U.S. insurance subsidiaries[117]. - The company’s Polish insurance subsidiary is regulated by the Financial Supervision Authority, ensuring adherence to local financial health and stability standards[114]. - The NAIC has established a subgroup to study the use of captive reinsurers and special purpose vehicles, considering uniformity in approval and supervision[120]. - The NAIC has adopted the Corporate Governance Annual Disclosure Model Act, effective in Maine, Massachusetts, and Tennessee, requiring U.S. insurers to disclose governance practices[126]. - The Insurance Data Security Model Law requires insurance companies to establish cybersecurity programs to protect consumer data, currently effective only in South Carolina[127]. - The laws in most states require regulatory approval for a change in control of an insurance company, which may discourage potential acquisition proposals[129]. Financial Performance and Stability - The company’s financial strength ratings are assessed by agencies such as AM Best, Fitch, Moody's, and S&P, reflecting its capacity to meet obligations to policyholders[99]. - The company’s ability to generate sufficient internal liquidity and obtain external financing is critical for maintaining operational stability and growth[14]. - The company is monitoring developments related to international insurance regulatory reforms that may influence future capital requirements and operational strategies[118]. - Unum Limited adheres to Solvency II requirements, including capital adequacy and liquidity requirements, with its European holding company approved to use its own internal model for calculating regulatory capital[121]. - The Solvency II capital regime is currently not expected to change due to the U.K.'s exit from the EU, but economic conditions may cause volatility in solvency ratios[122]. - Adjusted operating revenue for Unum International segment was approximately 6% of consolidated adjusted operating revenue for 2019, 2018, and 2017[135]. - Federal tax laws and regulations are subject to change, which could materially impact federal taxes and reduce profitability for Unum[133]. Leadership and Management - Mr. Bhasin appointed as Executive Vice President, Chief Information and Digital Officer in March 2018, previously held multiple senior roles at Waste Management, Inc.[144]. - Ms. Iglesias joined as Executive Vice President, General Counsel in January 2015, previously served as Senior Vice President at WellCare Health Plans, Inc.[145]. - Ms. Leiper appointed as Executive Vice President, Chief Investment Officer in October 2019, previously held senior finance roles at USAA and Unum Group since 1985[146]. - Mr. O'Donnell named Executive Vice President, Unum International in February 2020, previously served as CEO of Unum UK since September 2012[147]. - Mr. Pyne appointed as Executive Vice President, Group Benefits in February 2020, previously held various senior positions within the Company's U.S. distribution organization since 1992[148].

Unum Group (NYSE:UNM) Q4 2019 Earnings Conference Call February 5, 2020 9:00 AM ET Company Participants Tom White - SVP, IR Rick McKenney - President, CEO & Director Steven Zabel - CFO Mike Simonds - COO Peter O'Donnell - Head of International Bussiness Tim Arnold - Head of Colonial Life Conference Call Participants Ryan Krueger - KBW Suneet Kamath - Citi Thomas Gallagher - Evercore ISI Humphrey Lee - Dowling & Partners Andrew Kligerman - Credit Suisse Eric Bass - Autonomous Research Jimmy Bhullar - JP Morg ...

Unum Group (NYSE:UNM) Q3 2019 Earnings Conference Call October 30, 2019 9:00 PM ET Company Participants Thomas White - SVP, IR Richard McKenney - President, CEO & Director Steven Zabel - EVP & CFO Michael Simonds - EVP, President & CEO, Unum US Timothy Arnold - EVP, President & CEO, Colonial Life Peter O'Donnell - EVP & CEO, Unum International Conference Call Participants Jimmy Bhullar - JPMorgan Humphrey Lee - Dowling & Partners Ryan Krueger - KBW Andrew Kligerman - Credit Suisse Suneet Kamath - Citi John ...