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Unum Group

For the period ended Sep 30, 2026. Filed Nov 4, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2026 · Filed Nov 4, 2026

UNM$76.75+3.8%Stored close · as of Nov 6, 2026

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Colonial Life Segment

The Colonial Life segment includes insurance for accident, sickness, and disability products, which includes dental and vision products, life products, and cancer and critical illness products. These products are marketed to employees, on both a group and an individual basis, at the workplace through an independent contractor agent sales force and brokers.

Shown below are financial results and key performance indicators for the Colonial Life segment.

(in millions of dollars, except ratios)
Three Months Ended September 30 · Nine Months Ended September 30
2026 · % Change · 2025 · 2026 · % Change · 2025
Segment Adjusted Operating Revenue
Premium Income
Accident, Sickness, and Disability$251.61.7%$247.5$758.92.0%$743.7
Life127.27.2118.7386.67.2360.7
Cancer and Critical Illness91.21.090.3274.61.1271.5
Total Premium Income470.03.0456.51,420.13.21,375.9
Net Investment Income50.313.544.3147.214.0129.1
Other Income0.5(16.7)0.61.623.11.3
Total520.83.9501.41,568.94.21,506.3
Benefits and Expenses
Policy Benefits226.01.2223.3686.61.6675.9
Policy Benefits - Remeasurement Gain(47.5)N.M.(12.0)(67.9)191.4(23.3)
Commissions102.86.396.7312.66.8292.6
Deferral of Acquisition Costs(87.3)3.1(84.7)(267.7)6.7(250.9)
Amortization of Deferred Acquisition Costs63.59.158.2187.47.8173.9
Other Expenses93.9(0.5)94.4289.33.5279.5
Total351.4(6.5)375.91,140.3(0.6)1,147.7
Segment Adjusted Operating Income$169.435.0$125.5$428.619.5$358.6
Operating Ratios (% of Premium Income):
Benefit Ratio38.0%46.3%43.6%47.4%
Other Expense Ratio20.0%20.7%20.4%20.3%
Persistency:
Accident, Sickness, and Disability74.0%74.3%
Life84.3%84.3%
Cancer and Critical Illness81.3%82.5%
N.M. = not a meaningful percentage

Premium income in the third quarter and first nine months of 2026 was higher compared to the same periods of 2025 due to prior period sales. Net investment income was higher in the third quarter and first nine months of 2026 relative to the same periods of 2025 due to an increase in the level of invested assets, an increase in the allocation of net investment income from our corporate owned excess assets, and an increase in the yield on invested assets.

The benefit ratio was lower in the third quarter and first nine months of 2026 relative to the same periods of 2025 primarily due to more favorable reserve assumption updates in the third quarter of 2026 as well as favorable claims experience in the cancer and critical illness and life product lines.

Commissions and the deferral of acquisition costs were higher in the third quarter and first nine months of 2026 relative to the same periods of 2025 due to prior period sales. The amortization of deferred acquisition costs was higher during the third quarter and the first nine months of 2026 relative to the same periods of 2025 primarily due to growth in the level of the deferred asset. The other expense ratio was lower in the third quarter of 2026 compared to the same period of 2025 primarily due to our focus on expense management and operating efficiencies. The other expense ratio was generally consistent in the first nine months of 2026 compared to the same period of 2025.

Sales

(in millions of dollars)
Three Months Ended September 30Nine Months Ended September 30
2026% Change20252026% Change2025
Sales by Market Sector
Commercial Sector
Core Market (< 1,000 employees)$78.22.4%$76.4$230.82.4%$225.5
Large Case Market19.130.814.647.323.838.2
Subtotal97.36.991.0278.15.5263.7
Public Sector35.35.133.694.92.492.7
Total Sales$132.66.4$124.6$373.04.7$356.4

Commercial sector sales increased in the third quarter and first nine months of 2026 compared to the same periods of 2025 due primarily to higher sales to new and existing customers in the large case market, which we define as accounts with more than 1,000 employees, as well as in the core market. Public sector sales increased in the third quarter and first nine months of 2026 compared to the same periods of 2025 due to higher sales to new and existing customers.

We remain committed to providing employees and their families with simple, modern, and personal benefit solutions. By continuing to utilize our extensive distribution system of independent agents, benefit counselors and broker partnerships during 2026, we believe we will deliver business growth. We will also continue to invest in solutions and digital capabilities to expand our reach and effectiveness, which we believe will drive growth and improve productivity while enhancing the customer experience. In 2026, we will continue to bring an enhanced engagement and enrollment platform to market, which we believe will enable deeper connections with employees through the enrollment process and help us maintain stronger relationships throughout the customer lifecycle. We believe our distribution system, customer service capabilities, digital tools, and ability to serve all market sizes position us well for future growth.

In 2026, we expect growth in segment adjusted operating income for the full year with continued premium growth and stable claim experience. We continuously monitor key indicators to assess our risks and adjust our business plans accordingly.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.