Unum Group

The Corporate segment includes investment income on corporate assets not specifically allocated to a line of business, interest expense on corporate debt, and certain other corporate income and expenses not allocated to a line of business.

Segment adjusted operating loss decreased in the third quarter of 2026 relative to the same period of 2025 due primarily to higher net investment income, which was driven by an increase in the level of invested assets, partially offset by a decrease in the yield on invested assets. Segment adjusted operating loss, excluding the impact of the strategic actions, increased in the first nine months of 2026 relative to the same period of 2025 due primarily to lower net investment income, which was driven by a decrease in the yield on invested assets and a decrease in miscellaneous investment income, partially offset by an increase in the level of invested assets. See "Executive Summary" contained herein this Item 2 and Note 14 of the "Notes to Consolidated Financial Statements" contained herein in Item 1 for further discussion on the strategic actions.

We expect to continue to generate excess capital on an annual basis through the statutory earnings in our insurance subsidiaries and believe we are well positioned with flexibility to preserve our capital strength while also returning capital to our shareholders. We may experience volatility in net investment income due to changes in the prevailing interest rates, miscellaneous investment income, and the composition and level of invested assets.