Unum Group

Unum delivered industry-leading value to shareholders in 2024 thanks to a robust capital management plan and the recognition of our franchise strength from investors. The company continued its growth trajectory through ongoing demand for its products and services, highlighted by steady sales and earned premium growth. Strong persistency in our core operations highlighted our value proposition in the market. Double-digit growth in after-tax adjusted operating earnings per share illustrated Unum’s disciplined approach to pricing and balanced expense management, while our ability to generate substantial excess capital provided financial flexibility to invest in growth initiatives and increase the level of capital returned to shareholders.

Total shareholder return for the year was ahead of our industry benchmark and at the top of our Proxy Peer Group with an impressive 66% (see below). Unum has been a leader in returning value to shareholders over the longer term as well, in part through steady growth in book value per share (excluding AOCI) and premium income, and increasing dividend payments and share repurchase activity. Macroeconomic factors, such as strong employment, wage inflation and high interest rates, are beneficial for our business, and we believe will continue to drive greater recognition of our value to investors.

We believe this, combined with our market-leading positions, history of consistent execution, strong demand for our products and services, favorable business environment, capital strength, and strategy of prioritizing funding of growth initiatives, makes Unum an excellent long-term investment.

(2) S&P 500 Life & Health Insurance Sub Industry Index.