EX-99.2 3 unm09302024exhibit992.htm EX-99.2

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尤纳姆集团

2024年第三季度统计补充

 目录

(以百万美元计，除非另有注明，每股数据和特别注明处)

中期业绩未经审计

			财务亮点			1
			资本指标			2
			评级			3
			综合收益表			4
			按部门的销售数据			5
			合并资产负债表			6
			按部门的财务结果			7
			按部门划分的季度历史财务结果			8
			按部门划分的财务结果和选定统计数据			9
			Unum美国			9
			Unum国际			10
			Colonial Life			11
			封闭区块			12
			公司			13
			投资			14
			《统计补充附录》			15
			参见第15页的《统计补充附录》，了解重要事项的摘要和第15页。3 用于调和我们的非通用会计准则财务指标。
			N.m. = 非具意义百分比

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尤纳姆集团财务亮点

			三个月之内结束												九个月结束												2,185
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
美国公认会计准则合并结果¹
保险费收入			$	2,628.8					$	2,525.9					$	7,866.3					$	7,494.3					$	10,046.0					$	9,616.5
调整后营业收入			$	3,229.9					$	3,123.5					$	9,675.2					$	9,270.8					$	12,421.9					$	11,999.8
净投资收益（损失）			(12.9)						(31.0)						(24.5)						(30.0)						(36.0)						(15.7)
总收入			$	3,217.0					$	3,092.5					$	9,650.7					$	9,240.8					$	12,385.9					$	11,984.1
净利润			$	645.7					$	202.0					$	1,430.4					$	953.2					$	1,283.8					$	1,407.2
每股普通股的净收益:
基本			$	3.46					$	1.03					$	7.54					$	4.83					$	6.53					$	7.01
假设稀释			$	3.46					$	1.02					$	7.52					$	4.81					$	6.50					$	6.96
资产															$	64,140.5					$	59,954.5					$	63,255.2					$	61,148.5
负债															$	53,189.1					$	50,336.4					$	53,603.8					$	52,413.5
股东权益															$	10,951.4					$	9,618.1					$	9,651.4					$	8,735.0
调整后股东权益															$	13,078.5					$	12,055.7					$	12,292.6					$	11,459.1
经调整的营业净资产收益率
美洲安宁			25.5		%				25.4		%				25.7		%				23.1		%				23.1		%				16.4		%
国际安宁			16.2		%				14.0		%				15.8		%				16.7		%				16.5		%				20.7		%
殖民人寿			19.2		%				18.7		%				19.6		%				18.9		%				18.1		%				19.9		%
核心营业部门			22.8		%				22.4		%				23.1		%				21.4		%				21.2		%				17.7		%
合并后的			12.4		%				12.7		%				12.8		%				13.2		%				12.7		%				11.8		%

美国传统寿险公司的法定业绩2
经营净收益，税后			$	315.6					$	532.7					$	1,032.2					$	1,122.6					$	1,351.5					$	965.4
实现净资本利益（损失），税后			3.7						(4.1)						(0.9)						(4.6)						(21.6)						—
净利润			$	319.3					$	528.6					$	1,031.3					$	1,118.0					$	1,329.9					$	965.4
资本和盈余															$	4,425.0					$	4,376.6					$	3,751.3					$	3,816.3
加权平均风险基础资本比率															~ 470%						~ 470%						~ 415%						~ 420%

1 公认会计原则

2 我们传统的美国人寿保险公司包括 Provident Life and Accident Insurance Company、Unum Life Insurance Company of America、The Paul Revere Life Insurance Company、Colonial Life & Accident Insurance Company、Provident Life and Casualty Insurance Company、First Unum Life Insurance Company、Unum Insurance Company 和 Starmount Life Insurance Company。

1

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尤纳姆集团资本指标

			9/30/2024												9/30/2023												12/31/2023												12/31/2022
			（单位百万）						每股收益						（单位百万）						每股收益						（单位百万）						每股收益						（单位百万）						每股收益
股东权益总额（账面价值）			$	10,951.4					$	59.36					$	9,618.1					$	49.32					$	9,651.4					$	49.91					$	8,735.0					$	44.17
不包括：
证券未实现损失净额			(1,491.2)						(8.08)						(3,948.4)						(20.25)						(1,919.1)						(9.92)						(3,028.4)						(15.31)
负债未来保单责任的折现率假设变动影响			(527.0)						(2.86)						1,688.5						8.66						(648.4)						(3.35)						313.9						1.59
衍生品净损失			(108.9)						(0.59)						(177.7)						(0.91)						(73.7)						(0.39)						(9.6)						(0.05)
小计			13,078.5						70.89						12,055.7						61.82						12,292.6						63.57						11,459.1						57.94
不包括：
外汇翻译调整			(259.9)						(1.40)						(382.2)						(1.95)						(321.1)						(1.66)						(390.1)						(1.98)
小计			13,338.4						72.29						12,437.9						63.77						12,613.7						65.23						11,849.2						59.92
不包括：
未确认的养老金和离退休福利成本			(342.7)						(1.86)						(330.8)						(1.70)						(345.7)						(1.79)						(334.1)						(1.69)
股东权益合计，不包括其他综合收益累计额			$	13,681.1					$	74.15					$	12,768.7					$	65.47					$	12,959.4					$	67.02					$	12,183.3					$	61.61
分红派息			$	219.5					$	1.150					$	205.8					$	1.025					$	277.1					$	1.390					$	255.3					$	1.260

			三个月之内结束												九个月结束												2,185
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
回购股票（百万）			3.7						1.5						9.7						3.9						5.7						5.7
回购股票成本（百万）1			$	202.0					$	74.8					$	504.8					$	175.4					$	252.0					$	200.1
价格（期末最后交易日的UNm收盘价）															$	59.44					$	49.19					$	45.22					$	41.03
杠杆比率															21.3		%				22.5		%				22.1		%				23.4		%
控股公司流动性（百万）															$	1,393					$	1,182					$	1,650					$	1,571

1将截至2024年9月30日的三个月和九个月的低额手续费计入，分别为低额金额和2013年9月30日的三个月和九个月汇总0.1百万美元，以及2013年和2022年截至12月31日的低额手续费为10万美元。 到2024年9月30日结束的三个月和九个月分别有200万美元和480万美元的消费税，2013年9月30日结束的三个月和九个月分别有70万美元和120万美元的消费税，2013年截至12月31日的年度消费税为190万美元，而2013年截至12月31日的年度则没有消费税。

2

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尤纳姆集团评级

AM最佳

惠誉

穆迪

S&P

展望

稳定

Positive

稳定

稳定

优先无抵押债务评级

bbb+

BBB

Baa2

BBB

财务实力评级

Provident Life and Accident Insurance Company

A

A

A2

A

美国合众人寿保险公司

A

A

A2

A

第一合众人寿保险公司

A

A

A2

A

Colonial 保险公司

A

A

A2

A

保德信人寿保险公司

A

A

A2

A

合众保险公司

A

A

A2

NR

Provident 人寿及意外保险公司

A

A

NR

NR

星山人寿保险公司

A

NR

NR

NR

安盈有限公司

NR

NR

NR

A-

NR = 未评级

3

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尤纳姆集团损益综合表

			三个月之内结束												九个月结束												2,185
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
营业收入
保险费收入			$	2,628.8					$	2,525.9					$	7,866.3					$	7,494.3					$	10,046.0					$	9,616.5
净投资收益			527.8						526.0						1,586.4						1,565.9						2,096.7						2,122.2
净投资亏损			(12.9)						(31.0)						(24.5)						(30.0)						(36.0)						(15.7)
其他收入			73.3						71.6						222.5						210.6						279.2						261.1
总收入			3,217.0						3,092.5						9,650.7						9,240.8						12,385.9						11,984.1
福利和支出
政策利益包括再衡量损益			1,461.9						1,947.0						5,056.7						5,437.0						7,257.1						6,994.6
佣金			315.1						289.7						947.8						869.7						1,170.1						1,086.4
利息和债务费用			49.2						48.6						148.6						145.6						194.8						188.5
与提前偿还债务有关的成本			—						—						—						—						—						4.2
暂延取得成本			(163.3)						(153.3)						(495.3)						(467.5)						(632.2)						(556.9)
延后取得成本的摊销			133.8						129.1						387.9						358.7						481.4						421.1
其他费用			605.7						569.7						1,799.2						1,685.9						2,274.6						2,096.2
总福利和费用			2,402.4						2,830.8						7,844.9						8,029.4						10,745.8						10,234.1
税前收入			814.6						261.7						1,805.8						1,211.4						1,640.1						1,750.0
所得税费用			168.9						59.7						375.4						258.2						356.3						342.8
净利润			$	645.7					$	202.0					$	1,430.4					$	953.2					$	1,283.8					$	1,407.2
加权平均股本
基本			186.4						196.1						189.7						197.3						196.7						200.6
假设稀释效应			186.9						197.1						190.2						198.3						197.6						202.1
实际流通股数															184.5						195.0						193.4						197.8

4

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尤纳姆集团Unum US业务部门销售数据

			三个月之内结束																		九个月结束																		2,185
			9/30/2024						9/30/2023						百分比变动						9/30/2024						9/30/2023						百分比变动						12/31/2023						12/31/2022
产品销售额
集体残疾保险、集体人寿及意外身故
集体长期残疾			$	24.4					$	36.6					(33.3)		%				$	143.8					$	156.1					(7.9)		%				$	292.7					$	295.3
短期残疾团体保险			15.9						30.5						(47.9)						94.1						117.1						(19.6)						229.5						184.3
团体寿险和意外身故伤残险			26.5						25.2						5.2						151.2						152.9						(1.1)						305.4						232.4
小计			66.8						92.3						(27.6)						389.1						426.1						(8.7)						827.6						712.0
补充和自愿
自愿福利			45.6						39.0						16.9						233.0						212.5						9.6						263.2						238.7
个人残疾保险			29.4						25.6						14.8						76.1						81.0						(6.0)						108.9						90.8
牙科和视觉			12.5						14.0						(10.7)						43.4						42.5						2.1						84.1						73.8
小计			87.5						78.6						11.3						352.5						336.0						4.9						456.2						403.3
总销售额			$	154.3					$	170.9					(9.7)						$	741.6					$	762.1					(2.7)						$	1,283.8					$	1,115.3
按板块销售
团体残疾保险和团体人寿与意外伤害
核心市场（员工<2,000人）			$	52.1					$	65.8					(20.8)		%				$	247.1					$	255.1					(3.1)		%				$	521.3					$	457.5
大额案例市场			14.7						26.5						(44.5)						142.0						171.0						(17.0)						306.3						254.5
小计			66.8						92.3						(27.6)						389.1						426.1						(8.7)						827.6						712.0
补充和自愿			87.5						78.6						11.3						352.5						336.0						4.9						456.2						403.3
总销售额			$	154.3					$	170.9					(9.7)						$	741.6					$	762.1					(2.7)						$	1,283.8					$	1,115.3

5

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Unum Group Sales Data for Unum International Segment

			Three Months Ended																		Nine Months Ended																		Year Ended
(in millions of dollars)			9/30/2024						9/30/2023						% Change						9/30/2024						9/30/2023						% Change						12/31/2023						12/31/2022
Sales by Product
Unum UK
Group Long-term Disability			$	8.4					$	8.9					(5.6)		%				$	40.3					$	39.0					3.3		%				$	48.3					$	43.3
Group Life			17.0						10.5						61.9						53.1						49.8						6.6						61.4						55.5
Supplemental			4.8						3.8						26.3						30.1						24.0						25.4						28.0						17.1
Unum Poland			8.0						7.0						14.3						24.6						23.8						3.4						33.2						17.8
Total Sales			$	38.2					$	30.2					26.5						$	148.1					$	136.6					8.4						$	170.9					$	133.7
Sales by Market Sector
Unum UK
Group Long-term Disability and Group Life
Core Market (< 500 employees)			$	10.0					$	11.8					(15.3)		%				$	30.7					$	40.3					(23.8)		%				$	51.2					$	42.7
Large Case Market			15.4						7.6						102.6						62.7						48.5						29.3						58.5						56.1
Subtotal			25.4						19.4						30.9						93.4						88.8						5.2						109.7						98.8
Supplemental			4.8						3.8						26.3						30.1						24.0						25.4						28.0						17.1
Unum Poland			8.0						7.0						14.3						24.6						23.8						3.4						33.2						17.8
Total Sales			$	38.2					$	30.2					26.5						$	148.1					$	136.6					8.4						$	170.9					$	133.7
(in millions of pounds)
Unum UK Sales by Product
Group Long-term Disability			£	6.4					£	7.0					(8.6)		%				£	31.7					£	31.3					1.3		%				£	38.8					£	34.5
Group Life			12.9						8.3						55.4						41.5						40.1						3.5						49.4						45.4
Supplemental			3.8						2.9						31.0						23.8						19.3						23.3						22.6						13.5
Total Sales			£	23.1					£	18.2					26.9						£	97.0					£	90.7					6.9						£	110.8					£	93.4
Unum UK Sales by Market Sector
Group Long-term Disability and Group Life
Core Market (< 500 employees)			£	7.7					£	9.4					(18.1)		%				£	24.1					£	32.5					(25.8)		%				£	41.2					£	34.4
Large Case Market			11.6						5.9						96.6						49.1						38.9						26.2						47.0						45.5
Subtotal			19.3						15.3						26.1						73.2						71.4						2.5						88.2						79.9
Supplemental			3.8						2.9						31.0						23.8						19.3						23.3						22.6						13.5
Total Sales			£	23.1					£	18.2					26.9						£	97.0					£	90.7					6.9						£	110.8					£	93.4

5. 1

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Unum Group Sales Data for Colonial Life Segment

			Three Months Ended																		Nine Months Ended																		Year Ended
			9/30/2024						9/30/2023						% Change						9/30/2024						9/30/2023						% Change						12/31/2023						12/31/2022
Sales by Product
Accident, Sickness, and Disability			$	74.7					$	73.1					2.2		%				$	215.1					$	214.5					0.3		%				$	329.5					$	310.6
Life			28.5						29.9						(4.7)						83.1						86.3						(3.7)						132.1						121.5
Cancer and Critical Illness			17.7						18.3						(3.3)						48.6						49.3						(1.4)						78.0						76.0
Total Sales			$	120.9					$	121.3					(0.3)						$	346.8					$	350.1					(0.9)						$	539.6					$	508.1
Sales by Market Sector
Commercial Sector
Core Market (< 1,000 employees)			$	69.9					$	77.2					(9.5)		%				$	220.4					$	231.6					(4.8)		%				$	347.4					$	332.4
Large Case Market			16.0						10.5						52.4						37.3						32.3						15.5						62.3						58.1
Subtotal			85.9						87.7						(2.1)						257.7						263.9						(2.3)						409.7						390.5
Public Sector			35.0						33.6						4.2						89.1						86.2						3.4						129.9						117.6
Total Sales			$	120.9					$	121.3					(0.3)						$	346.8					$	350.1					(0.9)						$	539.6					$	508.1

5. 2

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Unum Group Consolidated Balance Sheets

			September 30						December 31
			2024						2023
Assets
Investments
Fixed Maturity Securities - at fair value			$	37,783.5					$	36,833.9
Mortgage Loans			2,238.9						2,318.2
Policy Loans			3,625.6						3,620.2
Other Long-term Investments			1,682.8						1,579.4
Short-term Investments			1,990.8						1,610.7
Total Investments			47,321.6						45,962.4
Other Assets
Cash and Bank Deposits			163.4						146.0
Accounts and Premiums Receivable			1,495.7						1,543.7
Reinsurance Recoverable			8,637.6						9,108.4
Accrued Investment Income			786.8						633.9
Deferred Acquisition Costs			2,823.5						2,714.5
Goodwill			352.0						349.9
Property and Equipment			495.2						485.3
Deferred Income Tax			431.9						649.4
Other Assets			1,632.8						1,661.7
Total Assets			$	64,140.5					$	63,255.2

6

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Unum Group Consolidated Balance Sheets - Continued

			September 30						December 31
			2024						2023
Liabilities and Stockholders' Equity
Liabilities
Future Policy Benefits			$	39,444.5					$	40,009.4
Policyholders' Account Balances			5,661.3						5,667.7
Unearned Premiums			474.7						380.2
Other Policyholders’ Funds			1,507.7						1,615.7
Income Tax Payable			137.7						190.0
Deferred Income Tax			28.5						27.0
Long-term Debt			3,470.4						3,430.4
Other Liabilities			2,464.3						2,283.4
Total Liabilities			53,189.1						53,603.8
Stockholders’ Equity
Common Stock			19.5						19.4
Additional Paid-in Capital			1,563.3						1,547.8
Accumulated Other Comprehensive Loss			(2,729.7)						(3,308.0)
Retained Earnings			12,642.4						11,431.5
Treasury Stock - at cost			(544.1)						(39.3)
Total Stockholders’ Equity			10,951.4						9,651.4
Total Liabilities and Stockholders’ Equity			$	64,140.5					$	63,255.2

6. 1

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Unum Group Balance Sheets by Segment - September 30, 2024

			Unum US
			Group Disability						Group Life and Accidental Death & Dismemberment						Supplemental and Voluntary						Total Unum US						Unum International						Colonial Life						Closed Block						Corporate						Consolidated
Assets
Investments			$	6,309.6					$	2,039.6					$	4,775.4					$	13,124.6					$	3,276.9					$	3,326.1					$	24,849.4					$	2,744.6					$	47,321.6
Deferred Acquisition Costs			64.9						53.2						1,144.8						1,262.9						54.4						1,506.2						—						—						2,823.5
Goodwill			8.9						—						271.1						280.0						44.3						27.7						—						—						352.0
Reinsurance Recoverable			33.6						11.8						172.1						217.5						120.7						5.1						8,294.3						—						8,637.6
All Other			235.3						162.8						82.3						480.4						73.1						129.1						2,383.7						1,939.5						5,005.8
Total Assets			$	6,652.3					$	2,267.4					$	6,445.7					$	15,365.4					$	3,569.4					$	4,994.2					$	35,527.4					$	4,684.1					$	64,140.5
Liabilities
Future Policy Benefits			$	4,955.7					$	854.1					$	3,275.0					$	9,084.8					$	2,355.9					$	2,031.9					$	25,971.9					$	—					$	39,444.5
Policyholders' Account Balances			—						—						675.0						675.0						—						862.8						4,123.5						—						5,661.3
Unearned Premiums			2.0						6.7						54.9						63.6						237.9						45.6						127.6						—						474.7
Other Policyholders' Funds			30.3						778.6						25.6						834.5						55.9						6.7						610.6						—						1,507.7
Long-term Debt			—						—						—						—						—						—						—						3,470.4						3,470.4
All Other			38.3						25.4						150.4						214.1						136.5						66.5						498.1						1,715.3						2,630.5
Total Liabilities			5,026.3						1,664.8						4,180.9						10,872.0						2,786.2						3,013.5						31,331.7						5,185.7						53,189.1
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity			1,588.7						668.8						2,329.1						4,586.6						784.8						1,889.7						5,806.0						11.4						13,078.5
Net Unrealized Loss on Securities and Net Gain (Loss) on Derivatives			(92.0)						(81.6)						(104.5)						(278.1)						(123.6)						(68.1)						(617.3)						(513.0)						(1,600.1)
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits			129.3						15.4						40.2						184.9						122.0						159.1						(993.0)						—						(527.0)
Total Allocated Stockholders' Equity			1,626.0						602.6						2,264.8						4,493.4						783.2						1,980.7						4,195.7						(501.6)						10,951.4
Total Liabilities and Allocated Stockholders' Equity			$	6,652.3					$	2,267.4					$	6,445.7					$	15,365.4					$	3,569.4					$	4,994.2					$	35,527.4					$	4,684.1					$	64,140.5

Allocated stockholders' equity is determined on the basis of an internal allocation formula that reflects the volume and risk components of the business and aligns with our target capital levels for regulatory and rating agency purposes. We modify this formula periodically to recognize changes in the views of capital requirements.

6. 2

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Unum Group Balance Sheets by Segment - December 31, 2023

			Unum US
			Group Disability						Group Life and Accidental Death & Dismemberment						Supplemental and Voluntary						Total Unum US						Unum International						Colonial Life						Closed Block						Corporate						Consolidated
Assets
Investments			$	6,621.9					$	2,076.6					$	4,608.4					$	13,306.9					$	2,806.7					$	3,144.3					$	24,067.0					$	2,637.5					$	45,962.4
Deferred Acquisition Costs			63.6						48.9						1,119.7						1,232.2						46.9						1,435.4						—						—						2,714.5
Goodwill			8.9						—						271.1						280.0						42.2						27.7						—						—						349.9
Reinsurance Recoverable			42.9						9.0						174.9						226.8						107.2						5.5						8,768.9						—						9,108.4
All Other			124.8						211.7						178.7						515.2						369.9						217.5						2,436.9						1,580.5						5,120.0
Total Assets			$	6,862.1					$	2,346.2					$	6,352.8					$	15,561.1					$	3,372.9					$	4,830.4					$	35,272.8					$	4,218.0					$	63,255.2
Liabilities
Future Policy Benefits			$	5,200.8					$	923.0					$	3,295.3					$	9,419.1					$	2,305.3					$	1,997.8					$	26,287.2					$	—					$	40,009.4
Policyholders' Account Balances			—						—						678.1						678.1						—						869.8						4,119.8						—						5,667.7
Unearned Premiums			1.7						6.3						46.6						54.6						151.4						44.5						129.7						—						380.2
Other Policyholders' Funds			32.3						813.0						28.6						873.9						66.0						8.0						667.8						—						1,615.7
Long-term Debt			—						—						—						—						—						—						—						3,430.4						3,430.4
All Other			32.1						51.2						152.6						235.9						84.4						60.1						505.8						1,614.2						2,500.4
Total Liabilities			5,266.9						1,793.5						4,201.2						11,261.6						2,607.1						2,980.2						31,710.3						5,044.6						53,603.8
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity			1,549.7						645.1						2,274.4						4,469.2						778.0						1,799.5						5,483.5						(237.6)						12,292.6
Net Unrealized Loss on Securities and Net Gain (Loss) on Derivatives			(152.0)						(114.2)						(159.2)						(425.4)						(95.5)						(108.0)						(774.9)						(589.0)						(1,992.8)
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits			197.5						21.8						36.4						255.7						83.3						158.7						(1,146.1)						—						(648.4)
Total Allocated Stockholders' Equity			1,595.2						552.7						2,151.6						4,299.5						765.8						1,850.2						3,562.5						(826.6)						9,651.4
Total Liabilities and Allocated Stockholders' Equity			$	6,862.1					$	2,346.2					$	6,352.8					$	15,561.1					$	3,372.9					$	4,830.4					$	35,272.8					$	4,218.0					$	63,255.2

6. 3

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Unum Group Financial Results by Segment

We measure and analyze our segment performance on the basis of "adjusted operating revenue" and "adjusted operating income" or "adjusted operating loss", which differ from total revenue and income before income tax as presented in our consolidated statements of income due to the exclusion of investment gains or losses, amortization of the cost of reinsurance, the impact of non-contemporaneous reinsurance, and reserve assumption updates, as well as certain other items as specified in the following pages. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for total revenue, income before income tax, or net income.

			Three Months Ended																		Nine Months Ended
			9/30/2024						9/30/2023						% Change						9/30/2024						9/30/2023						% Change
Premium Income
Unum US			$	1,723.5					$	1,657.7					4.0		%				$	5,161.8					$	4,908.7					5.2		%
Unum International			246.6						210.6						17.1						707.1						607.1						16.5
Colonial Life			441.9						431.2						2.5						1,335.0						1,291.3						3.4
Closed Block			216.8						226.4						(4.2)						662.4						687.2						(3.6)
			2,628.8						2,525.9						4.1						7,866.3						7,494.3						5.0
Net Investment Income
Unum US			161.0						166.2						(3.1)						476.1						481.5						(1.1)
Unum International			30.4						27.3						11.4						94.5						104.0						(9.1)
Colonial Life			39.6						39.3						0.8						119.4						114.6						4.2
Closed Block			284.3						274.9						3.4						851.6						796.0						7.0
Corporate			12.5						18.3						(31.7)						44.8						69.8						(35.8)
			527.8						526.0						0.3						1,586.4						1,565.9						1.3
Other Income
Unum US			60.1						58.0						3.6						178.9						166.1						7.7
Unum International			0.4						0.5						(20.0)						1.2						1.0						20.0
Colonial Life			0.4						0.3						33.3						3.6						0.9						N.M.
Closed Block			12.4						12.8						(3.1)						37.7						40.1						(6.0)
Corporate			—						—						—						1.1						2.5						(56.0)
			73.3						71.6						2.4						222.5						210.6						5.7
Total Adjusted Operating Revenue
Unum US			1,944.6						1,881.9						3.3						5,816.8						5,556.3						4.7
Unum International			277.4						238.4						16.4						802.8						712.1						12.7
Colonial Life			481.9						470.8						2.4						1,458.0						1,406.8						3.6
Closed Block			513.5						514.1						(0.1)						1,551.7						1,523.3						1.9
Corporate			12.5						18.3						(31.7)						45.9						72.3						(36.5)
			$	3,229.9					$	3,123.5					3.4						$	9,675.2					$	9,270.8					4.4

7

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Unum Group Financial Results by Segment - Continued

			Three Months Ended																		Nine Months Ended
			9/30/2024						9/30/2023						% Change						9/30/2024						9/30/2023						% Change
Benefits and Expenses
Unum US			$	1,437.7					$	1,395.3					3.0		%				$	4,567.2					$	4,414.1					3.5		%
Unum International			244.6						219.5						11.4						690.1						611.3						12.9
Colonial Life			322.5						287.2						12.3						1,068.0						1,013.8						5.3
Closed Block			320.4						869.0						(63.1)						1,317.6						1,808.0						(27.1)
Corporate			77.2						59.8						29.1						202.0						182.2						10.9
			2,402.4						2,830.8						(15.1)						7,844.9						8,029.4						(2.3)
Income (Loss) Before Income Tax and Net Investment Loss
Unum US			506.9						486.6						4.2						1,249.6						1,142.2						9.4
Unum International			32.8						18.9						73.5						112.7						100.8						11.8
Colonial Life			159.4						183.6						(13.2)						390.0						393.0						(0.8)
Closed Block			193.1						(354.9)						154.4						234.1						(284.7)						182.2
Corporate			(64.7)						(41.5)						55.9						(156.1)						(109.9)						42.0
			827.5						292.7						182.7						1,830.3						1,241.4						47.4
Income Tax Expense Before Net Investment Loss			172.0						66.3						159.4						381.1						264.6						44.0
Income Before Net Investment Loss			655.5						226.4						189.5						1,449.2						976.8						48.4
Net Investment Loss (net of tax benefit of $3.1; $6.6; $5.7; $6.4)			(9.8)						(24.4)						(59.8)						(18.8)						(23.6)						(20.3)
Net Income			$	645.7					$	202.0					N.M.						$	1,430.4					$	953.2					50.1

7. 1

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Unum Group Quarterly Historical Financial Results by Segment

			9/30/2024						6/30/2024						3/31/2024						12/31/2023						9/30/2023						6/30/2023						3/31/2023
Premium Income
Unum US			$	1,723.5					$	1,730.9					$	1,707.4					$	1,670.5					$	1,657.7					$	1,641.4					$	1,609.6
Unum International			246.6						228.8						231.7						218.1						210.6						207.9						188.6
Colonial Life			441.9						446.2						446.9						434.8						431.2						430.6						429.5
Closed Block			216.8						221.3						224.3						228.3						226.4						229.2						231.6
			2,628.8						2,627.2						2,610.3						2,551.7						2,525.9						2,509.1						2,459.3
Net Investment Income
Unum US			161.0						158.1						157.0						158.4						166.2						158.0						157.3
Unum International			30.4						38.0						26.1						33.2						27.3						45.8						30.9
Colonial Life			39.6						40.5						39.3						38.9						39.3						38.0						37.3
Closed Block			284.3						294.2						273.1						270.3						274.9						263.9						257.2
Corporate			12.5						14.3						18.0						30.0						18.3						25.4						26.1
			527.8						545.1						513.5						530.8						526.0						531.1						508.8
Other Income
Unum US			60.1						58.2						60.6						54.4						58.0						54.5						53.6
Unum International			0.4						0.5						0.3						0.6						0.5						0.1						0.4
Colonial Life			0.4						0.2						3.0						0.3						0.3						0.4						0.2
Closed Block			12.4						12.2						13.1						12.5						12.8						13.8						13.5
Corporate			—						0.4						0.7						0.8						—						2.3						0.2
			73.3						71.5						77.7						68.6						71.6						71.1						67.9
Total Adjusted Operating Revenue
Unum US			1,944.6						1,947.2						1,925.0						1,883.3						1,881.9						1,853.9						1,820.5
Unum International			277.4						267.3						258.1						251.9						238.4						253.8						219.9
Colonial Life			481.9						486.9						489.2						474.0						470.8						469.0						467.0
Closed Block			513.5						527.7						510.5						511.1						514.1						506.9						502.3
Corporate			12.5						14.7						18.7						30.8						18.3						27.7						26.3
			$	3,229.9					$	3,243.8					$	3,201.5					$	3,151.1					$	3,123.5					$	3,111.3					$	3,036.0

8

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Unum Group Quarterly Historical Financial Results by Segment - Continued

			9/30/2024						6/30/2024						3/31/2024						12/31/2023						9/30/2023						6/30/2023						3/31/2023
Benefits and Expenses
Unum US			$	1,437.7					$	1,589.7					$	1,539.8					$	1,541.2					$	1,395.3					$	1,510.8					$	1,508.0
Unum International			244.6						224.8						220.7						212.5						219.5						210.3						181.5
Colonial Life			322.5						370.0						375.5						386.2						287.2						353.5						373.1
Closed Block			320.4						493.4						503.8						509.2						869.0						476.6						462.4
Corporate			77.2						60.0						64.8						67.3						59.8						62.6						59.8
			2,402.4						2,737.9						2,704.6						2,716.4						2,830.8						2,613.8						2,584.8
Income (Loss) Before Income Tax and Net Investment Gain (Loss)
Unum US			506.9						357.5						385.2						342.1						486.6						343.1						312.5
Unum International			32.8						42.5						37.4						39.4						18.9						43.5						38.4
Colonial Life			159.4						116.9						113.7						87.8						183.6						115.5						93.9
Closed Block			193.1						34.3						6.7						1.9						(354.9)						30.3						39.9
Corporate			(64.7)						(45.3)						(46.1)						(36.5)						(41.5)						(34.9)						(33.5)
			827.5						505.9						496.9						434.7						292.7						497.5						451.2
Income Tax Expense Before Net Investment Gain (Loss)			172.0						108.2						100.9						99.5						66.3						105.3						93.0
Income Before Net Investment Gain (Loss)			655.5						397.7						396.0						335.2						226.4						392.2						358.2
Net Investment Gain (Loss)			(12.9)						(10.4)						(1.2)						(6.0)						(31.0)						0.9						0.1
Tax Expense (Benefit) on Net Investment Gain (Loss)			(3.1)						(2.2)						(0.4)						(1.4)						(6.6)						0.2						—
Net Income			$	645.7					$	389.5					$	395.2					$	330.6					$	202.0					$	392.9					$	358.3
Net Income Per Common Share - Assuming Dilution			$	3.46					$	2.05					$	2.04					$	1.69					$	1.02					$	1.98					$	1.80

8. 1

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Unum Group Financial Results for Unum US Segment

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income			$	1,723.5					$	1,657.7					$	5,161.8					$	4,908.7					$	6,579.2					$	6,251.4
Net Investment Income			161.0						166.2						476.1						481.5						639.9						676.3
Other Income			60.1						58.0						178.9						166.1						220.5						196.3
Total			1,944.6						1,881.9						5,816.8						5,556.3						7,439.6						7,124.0
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			864.1						850.3						2,840.0						2,812.6						3,808.5						3,970.9
Commissions			182.6						164.3						551.9						493.7						664.4						614.4
Deferral of Acquisition Costs			(81.6)						(74.5)						(247.4)						(230.6)						(314.7)						(273.1)
Amortization of Deferred Acquisition Costs			75.7						70.0						216.7						199.2						267.6						240.9
Other Expenses			396.9						385.2						1,206.0						1,139.2						1,529.5						1,427.5
Total			1,437.7						1,395.3						4,567.2						4,414.1						5,955.3						5,980.6
Income Before Income Tax and Net Investment Gains and Losses			506.9						486.6						1,249.6						1,142.2						1,484.3						1,143.4
Reserve Assumption Updates			(143.6)						(128.8)						(143.6)						(128.8)						(128.8)						(170.8)
Adjusted Operating Income			$	363.3					$	357.8					$	1,106.0					$	1,013.4					$	1,355.5					$	972.6
Operating Ratios (% of Premium Income):
Benefit Ratio1			58.5		%				59.1		%				57.8		%				59.9		%				59.8		%				66.3		%
Other Expense Ratio2			22.3		%				22.5		%				22.6		%				22.5		%				22.5		%				22.2		%
Income Ratio			29.4		%				29.4		%				24.2		%				23.3		%				22.6		%				18.3		%
Adjusted Operating Income Ratio			21.1		%				21.6		%				21.4		%				20.6		%				20.6		%				15.6		%
1Excludes the reserve assumption updates that occurred during the third quarters of 2024, 2023 and 2022.
2Ratio of Other Expenses to Premium Income plus Unum US Group Disability Other Income, which is primarily related to fee-based services.

9

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Unum Group Financial Results for Unum US Group Disability

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Group Long-term Disability			$	522.1					$	518.5					$	1,560.3					$	1,539.3					$	2,057.2					$	1,911.7
Group Short-term Disability			271.3						256.5						810.7						753.0						1,012.3						926.3
Total Premium Income			793.4						775.0						2,371.0						2,292.3						3,069.5						2,838.0
Net Investment Income			78.7						84.2						234.8						246.4						324.8						349.1
Other Income			58.6						51.7						174.8						158.1						211.6						191.8
Total			930.7						910.9						2,780.6						2,696.8						3,605.9						3,378.9
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			379.0						324.8						1,299.3						1,230.4						1,693.2						1,782.4
Commissions			60.0						57.2						184.1						172.6						230.5						211.3
Deferral of Acquisition Costs			(15.4)						(14.3)						(48.1)						(44.7)						(60.2)						(53.1)
Amortization of Deferred Acquisition Costs			18.2						16.2						46.8						42.1						57.6						53.0
Other Expenses			242.2						235.9						733.8						699.8						936.1						862.3
Total			684.0						619.8						2,215.9						2,100.2						2,857.2						2,855.9
Income Before Income Tax and Net Investment Gains and Losses			246.7						291.1						564.7						596.6						748.7						523.0
Reserve Assumption Updates			(90.0)						(121.0)						(90.0)						(121.0)						(121.0)						(121.0)
Adjusted Operating Income			$	156.7					$	170.1					$	474.7					$	475.6					$	627.7					$	402.0
Operating Ratios (% of Premium Income):
Benefit Ratio1			59.1		%				57.5		%				58.6		%				59.0		%				59.1		%				67.1		%
Other Expense Ratio2			28.4		%				28.5		%				28.8		%				28.6		%				28.5		%				28.5		%
Income Ratio			31.1		%				37.6		%				23.8		%				26.0		%				24.4		%				18.4		%
Adjusted Operating Income Ratio			19.8		%				21.9		%				20.0		%				20.7		%				20.4		%				14.2		%
Persistency:
Group Long-term Disability															93.5		%				90.8		%				90.8		%				90.7		%
Group Short-term Disability															91.9		%				89.1		%				88.9		%				88.9		%
1Excludes the reserve assumption updates that occurred during the third quarters of 2024, 2023 and 2022.
2Ratio of Other Expenses to Premium Income plus Other Income, which is primarily related to fee-based services.

9. 1

---

Unum Group Financial Results for Unum US Group Life and Accidental Death & Dismemberment

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Group Life			$	447.8					$	423.0					$	1,337.9					$	1,254.3					$	1,679.0					$	1,669.1
Accidental Death & Dismemberment			47.1						44.1						139.3						131.2						175.5						173.7
Total Premium Income			494.9						467.1						1,477.2						1,385.5						1,854.5						1,842.8
Net Investment Income			22.1						23.7						66.6						68.2						90.1						100.3
Other Income			0.3						0.2						1.4						0.7						1.0						1.6
Total			517.3						491.0						1,545.2						1,454.4						1,945.6						1,944.7
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			308.8						342.6						965.1						1,021.8						1,347.7						1,415.9
Commissions			42.1						38.8						126.5						116.8						155.9						150.4
Deferral of Acquisition Costs			(10.0)						(9.0)						(31.0)						(28.9)						(38.6)						(37.3)
Amortization of Deferred Acquisition Costs			9.6						10.2						26.7						29.5						39.0						41.9
Other Expenses			59.8						56.4						183.0						171.5						229.9						231.1
Total			410.3						439.0						1,270.3						1,310.7						1,733.9						1,802.0
Income Before Income Tax and Net Investment Gains and Losses			107.0						52.0						274.9						143.7						211.7						142.7
Reserve Assumption Updates			(13.0)						—						(13.0)						—						—						(34.0)
Adjusted Operating Income			$	94.0					$	52.0					$	261.9					$	143.7					$	211.7					$	108.7
Operating Ratios (% of Premium Income):
Benefit Ratio1			65.0		%				73.3		%				66.2		%				73.7		%				72.7		%				78.7		%
Other Expense Ratio			12.1		%				12.1		%				12.4		%				12.4		%				12.4		%				12.5		%
Income Ratio			21.6		%										18.6		%																7.7		%
Adjusted Operating Income Ratio			19.0		%				11.1		%				17.7		%				10.4		%				11.4		%				5.9		%
Persistency:
Group Life															92.0		%				89.3		%				89.6		%				88.9		%
Accidental Death & Dismemberment															91.2		%				88.2		%				88.7		%				87.9		%
1Excludes the reserve assumption update that occurred during the third quarters of 2024 and 2022.

9. 2

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Unum Group Financial Results for Unum US Supplemental and Voluntary

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Voluntary Benefits			$	219.3					$	209.5					$	665.1					$	637.4					$	850.1					$	833.7
Individual Disability			140.4						136.7						424.6						386.7						527.0						461.1
Dental and Vision			75.5						69.4						223.9						206.8						278.1						275.8
Total Premium Income			435.2						415.6						1,313.6						1,230.9						1,655.2						1,570.6
Net Investment Income			60.2						58.3						174.7						166.9						225.0						226.9
Other Income			1.2						6.1						2.7						7.3						7.9						2.9
Total			496.6						480.0						1,491.0						1,405.1						1,888.1						1,800.4
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			176.3						182.9						575.6						560.4						767.6						772.6
Commissions			80.5						68.3						241.3						204.3						278.0						252.7
Deferral of Acquisition Costs			(56.2)						(51.2)						(168.3)						(157.0)						(215.9)						(182.7)
Amortization of Deferred Acquisition Costs			47.9						43.6						143.2						127.6						171.0						146.0
Other Expenses			94.9						92.9						289.2						267.9						363.5						334.1
Total			343.4						336.5						1,081.0						1,003.2						1,364.2						1,322.7
Income Before Income Tax and Net Investment Gains and Losses			153.2						143.5						410.0						401.9						523.9						477.7
Reserve Assumption Updates - Voluntary Benefits			12.2						(10.4)						12.2						(10.4)						(10.4)						(17.0)
Reserve Assumption Updates - Individual Disability			(52.8)						2.6						(52.8)						2.6						2.6						1.2
Adjusted Operating Income			$	112.6					$	135.7					$	369.4					$	394.1					$	516.1					$	461.9
Operating Ratios (% of Premium Income):
Benefit Ratios:
Voluntary Benefits1			45.8		%				39.1		%				41.6		%				38.1		%				39.8		%				43.6		%
Individual Disability1			42.8		%				45.4		%				41.0		%				44.3		%				44.3		%				49.3		%
Dental and Vision			74.6		%				67.4		%				74.1		%				74.6		%				73.1		%				71.6		%
Other Expense Ratio			21.8		%				22.4		%				22.0		%				21.8		%				22.0		%				21.3		%
Income Ratio			35.2		%				34.5		%				31.2		%				32.7		%				31.7		%				30.4		%
Adjusted Operating Income Ratio			25.9		%				32.7		%				28.1		%				32.0		%				31.2		%				29.4		%
Persistency:
Voluntary Benefits															76.4		%				75.5		%				75.5		%				75.8		%
Individual Disability															89.0		%				89.3		%				89.0		%				89.5		%
Dental and Vision															81.4		%				76.2		%				77.1		%				79.9		%
1Excludes the reserve assumption updates that occurred during the third quarters of 2024, 2023 and 2022.

9. 3

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Unum Group Financial Results for Unum International Segment

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Unum UK
Group Long-term Disability			$	106.6					$	101.1					$	312.4					$	297.5					$	396.1					$	376.9
Group Life			58.8						44.2						156.3						124.5						169.3						138.2
Supplemental			41.4						34.6						125.1						99.9						141.5						114.0
Unum Poland			39.8						30.7						113.3						85.2						118.3						89.7
Total Premium Income			246.6						210.6						707.1						607.1						825.2						718.8
Net Investment Income			30.4						27.3						94.5						104.0						137.2						170.1
Other Income			0.4						0.5						1.2						1.0						1.6						0.9
Total			277.4						238.4						802.8						712.1						964.0						889.8
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			175.3						158.5						487.4						433.3						579.8						549.6
Commissions			21.7						18.3						61.7						53.8						72.5						56.3
Deferral of Acquisition Costs			(4.6)						(3.8)						(13.2)						(10.8)						(14.6)						(12.0)
Amortization of Deferred Acquisition Costs			2.5						2.4						7.3						6.1						8.4						8.2
Other Expenses			49.7						44.1						146.9						128.9						177.7						146.1
Total			244.6						219.5						690.1						611.3						823.8						748.2
Income Before Income Tax and Net Investment Gains and Losses			32.8						18.9						112.7						100.8						140.2						141.6
Reserve Assumption Updates			7.5						17.9						7.5						17.9						17.9						(7.6)
Adjusted Operating Income			$	40.3					$	36.8					$	120.2					$	118.7					$	158.1					$	134.0

10

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Unum Group Financial Results for Unum UK

			Three Months Ended												Nine Months Ended												Year Ended
(in millions of pounds)			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Group Long-term Disability			£	82.0					£	79.8					£	244.6					£	238.9					£	318.5					£	304.6
Group Life			45.1						34.9						122.2						100.0						136.1						112.3
Supplemental			31.8						27.5						97.9						80.3						113.7						92.3
Total Premium Income			158.9						142.2						464.7						419.2						568.3						509.2
Net Investment Income			21.2						19.5						67.5						77.7						102.4						131.9
Other Income			0.1						—						0.2						0.1						0.2						0.1
Total			180.2						161.7						532.4						497.0						670.9						641.2
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			116.8						112.1						327.1						307.3						408.5						398.4
Commissions			9.9						9.3						29.0						28.3						37.4						31.8
Deferral of Acquisition Costs			(0.8)						(0.9)						(2.8)						(3.0)						(3.9)						(4.2)
Amortization of Deferred Acquisition Costs			1.2						1.3						4.0						3.8						5.2						5.3
Other Expenses			30.0						27.8						91.3						83.2						115.4						95.6
Total			157.1						149.6						448.6						419.6						562.6						526.9
Income Before Income Tax and Net Investment Gains and Losses			23.1						12.1						83.8						77.4						108.3						114.3
Reserve Assumption Updates			6.4						16.3						6.4						16.3						16.3						(5.3)
Adjusted Operating Income			£	29.5					£	28.4					£	90.2					£	93.7					£	124.6					£	109.0
Weighted Average Pound/Dollar Exchange Rate			1.312						1.281						1.278						1.243						1.243						1.221
Operating Ratios (% of Premium Income):
Benefit Ratio1			69.5		%				67.4		%				69.0		%				69.4		%				69.0		%				79.3		%
Other Expense Ratio			18.9		%				19.5		%				19.6		%				19.8		%				20.3		%				18.8		%
Income Ratio			14.5		%				8.5		%				18.0		%				18.5		%				19.1		%				22.4		%
Adjusted Operating Income Ratio			18.6		%				20.0		%				19.4		%				22.4		%				21.9		%				21.4		%
Persistency:
Group Long-term Disability															92.3		%				92.4		%				92.5		%				85.1		%
Group Life															88.6		%				83.6		%				83.0		%				87.9		%
Supplemental															90.4		%				91.0		%				91.7		%				92.8		%
1Excludes the reserve assumption updates that occurred during the third quarters of 2024, 2023 and 2022.

10. 1

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Unum Group Financial Results for Colonial Life Segment

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Accident, Sickness, and Disability			$	240.6					$	236.7					$	725.5					$	708.0					$	946.1					$	948.9
Life			113.1						106.2						342.6						318.1						426.5						401.1
Cancer and Critical Illness			88.2						88.3						266.9						265.2						353.5						352.0
Total Premium Income			441.9						431.2						1,335.0						1,291.3						1,726.1						1,702.0
Net Investment Income			39.6						39.3						119.4						114.6						153.5						152.7
Other Income			0.4						0.3						3.6						0.9						1.2						1.1
Total			481.9						470.8						1,458.0						1,406.8						1,880.8						1,855.8
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			164.2						131.2						594.7						566.9						798.1						826.1
Commissions			93.0						88.8						282.2						266.7						359.4						340.0
Deferral of Acquisition Costs			(77.1)						(75.0)						(234.7)						(226.1)						(302.9)						(271.8)
Amortization of Deferred Acquisition Costs			55.6						56.7						163.9						153.4						205.4						172.0
Other Expenses			86.8						85.5						261.9						252.9						340.0						321.4
Total			322.5						287.2						1,068.0						1,013.8						1,400.0						1,387.7
Income Before Income Tax and Net Investment Gains and Losses			159.4						183.6						390.0						393.0						480.8						468.1
Reserve Assumption Updates			(46.0)						(80.7)						(46.0)						(80.7)						(80.7)						(55.2)
Adjusted Operating Income			$	113.4					$	102.9					$	344.0					$	312.3					$	400.1					$	412.9
Operating Ratios (% of Premium Income):
Benefit Ratio1			47.6		%				49.1		%				48.0		%				50.2		%				50.9		%				51.8		%
Other Expense Ratio			19.6		%				19.8		%				19.6		%				19.6		%				19.7		%				18.9		%
Income Ratio			36.1		%				42.6		%				29.2		%				30.4		%				27.9		%				27.5		%
Adjusted Operating Income Ratio			25.7		%				23.9		%				25.8		%				24.2		%				23.2		%				24.3		%
Persistency:
Accident, Sickness, and Disability															73.3		%				73.1		%				73.6		%				73.3		%
Life															84.3		%				84.7		%				85.1		%				84.5		%
Cancer and Critical Illness															81.8		%				82.2		%				82.4		%				82.3		%
1Excludes the reserve assumption updates that occurred during the third quarters of 2024, 2023 and 2022.

11

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Unum Group Financial Results for Closed Block Segment

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Premium Income
Long-term Care			$	173.7					$	172.1					$	521.5					$	521.2					$	696.0					$	697.4
All Other			43.1						54.3						140.9						166.0						219.5						246.9
Total Premium Income			216.8						226.4						662.4						687.2						915.5						944.3
Net Investment Income			284.3						274.9						851.6						796.0						1,066.3						1,070.6
Other Income			12.4						12.8						37.7						40.1						52.6						58.0
Total			513.5						514.1						1,551.7						1,523.3						2,034.4						2,072.9
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			258.3						806.9						1,134.6						1,624.1						2,070.7						1,648.0
Commissions			17.8						18.3						52.0						55.5						73.8						75.7
Other Expenses			44.3						43.8						131.0						128.4						172.7						172.3
Total			320.4						869.0						1,317.6						1,808.0						2,317.2						1,896.0
Income (Loss) Before Income Tax and Net Investment Gain and Losses			193.1						(354.9)						234.1						(284.7)						(282.8)						176.9
Amortization of the Cost of Reinsurance			10.4						11.1						31.1						33.1						44.1						50.3
Non-Contemporaneous Reinsurance			6.0						9.2						20.2						26.4						34.8						34.4
Reserve Assumption Updates - Long-term Care			(174.1)						368.1						(174.1)						368.1						368.1						(2.9)
Reserve Assumption Updates - All Other			(1.2)						0.7						(1.2)						0.7						0.7						(6.8)
Adjusted Operating Income			$	34.2					$	34.2					$	110.1					$	143.6					$	164.9					$	251.9
Long-term Care Net Premium Ratio															94.5		%				93.4		%				93.5		%				85.1		%
Operating Ratios (% of Premium Income):
Other Expense Ratio1			15.6		%				14.4		%				15.1		%				13.9		%				14.0		%				12.9		%
Income (Loss) Ratio			89.1		%				(156.8)		%				35.3		%				(41.4)		%				(30.9)		%				18.7		%
Adjusted Operating Income Ratio			15.8		%				15.1		%				16.6		%				20.9		%				18.0		%				26.7		%
Long-term Care Persistency															95.2		%				95.5		%				95.6		%				95.7		%
1Excludes amortization of the cost of reinsurance.

12

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Unum Group Financial Results for Corporate Segment

			Three Months Ended												Nine Months Ended												Year Ended
			9/30/2024						9/30/2023						9/30/2024						9/30/2023						12/31/2023						12/31/2022
Adjusted Operating Revenue
Net Investment Income			$	12.5					$	18.3					$	44.8					$	69.8					$	99.8					$	52.5
Other Income			—						—						1.1						2.5						3.3						4.8
Total			12.5						18.3						45.9						72.3						103.1						57.3
Interest, Debt, and Other Expenses			77.2						59.8						202.0						182.2						249.5						221.6
Loss Before Income Tax and Net Investment Gains and Losses			(64.7)						(41.5)						(156.1)						(109.9)						(146.4)						(164.3)
Loss on Legal Settlement			15.3						—						15.3						—						—						—
Adjusted Operating Loss			$	(49.4)					$	(41.5)					$	(140.8)					$	(109.9)					$	(146.4)					$	(164.3)

13

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Unum Group Investments

						9/30/2024																		9/30/2024						12/31/2023
Fixed Maturity Securities (Fair Value)																		Selected Statistics
Public						$	24,605.4					65.1		%				Earned Book Yield						4.41		%				4.45		%
Mortgage-Backed/Asset-Backed Securities						850.6						2.3						Average Duration (in years)						8.55						8.41
Private Placements						5,889.3						15.6
High Yield						1,496.5						4.0
Government Securities						1,407.5						3.7
Municipal Securities						3,526.5						9.3
Redeemable Preferred Stocks						7.7						—
Total						$	37,783.5					100.0		%
						Amortized Cost						Fair Value
Quality Ratings of Fixed Maturity Securities																		Private Equity Partnerships						9/30/2024						12/31/2023
Aaa						2.7		%				2.6		%				Private Credit Partnerships						$	297.0					$	283.6
Aa						15.5						15.0						Private Equity Partnerships						608.1						571.9
A						30.6						31.1						Real Asset Partnerships						522.9						470.7
Baa						47.3						47.3						Total						$	1,428.0					$	1,326.2
Below Baa						3.9						4.0
Total						100.0		%				100.0		%
																		Non-Current Investments						$	3.8					$	—

14

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Unum Group Investments at September 30, 2024

Fixed Maturity Securities - By Industry Classification - Unrealized Gain (Loss)
Classification						Fair Value						Net Unrealized Gain (Loss)						Fair Value with Gross Unrealized Loss						Gross Unrealized Loss						Fair Value with Gross Unrealized Gain						Gross Unrealized Gain
Basic Industry						$	2,611.1					$	(46.8)					$	1,395.2					$	120.9					$	1,215.9					$	74.1
Capital Goods						3,410.9						(18.5)						1,592.6						151.1						1,818.3						132.6
Communications						2,295.2						(20.8)						998.9						148.6						1,296.3						127.8
Consumer Cyclical						1,482.7						(55.0)						861.6						95.4						621.1						40.4
Consumer Non-Cyclical						6,703.8						(199.5)						3,578.6						428.7						3,125.2						229.2
Energy						2,644.8						76.9						955.3						72.0						1,689.5						148.9
Financial Institutions						4,012.2						(223.5)						2,757.8						285.8						1,254.4						62.3
Mortgage/Asset-Backed						850.6						(3.2)						385.6						16.4						465.0						13.2
Sovereigns						850.1						(114.7)						371.0						137.1						479.1						22.4
Technology						1,533.7						(81.4)						1,063.7						102.3						470.0						20.9
Transportation						1,719.3						(71.1)						999.0						117.7						720.3						46.6
U.S. Government Agencies and Municipalities						4,083.9						(302.0)						2,444.8						449.5						1,639.1						147.5
Public Utilities						5,585.2						23.4						1,895.1						248.9						3,690.1						272.3
Total						$	37,783.5					$	(1,036.2)					$	19,299.2					$	2,374.4					$	18,484.3					$	1,338.2
Gross Unrealized Loss on Fixed Maturity Securities by Length of Time in Unrealized Loss Position
						Investment-Grade																								Below-Investment-Grade
Category						Fair Value						Gross Unrealized Loss																		Fair Value						Gross Unrealized Loss
Less than 91 days						$	1,101.7					$	(11.8)																	$	57.2					$	(0.3)
91 through 180 days						18.4						(1.2)																		—						—
181 through 270 days						189.7						(5.1)																		5.0						—
271 days to 1 year						176.3						(3.3)																		12.7						—
Greater than 1 year						17,173.1						(2,287.4)																		565.1						(65.3)
Total						$	18,659.2					$	(2,308.8)																	$	640.0					$	(65.6)

14.1

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Appendix to Statistical Supplement

2024 Significant Items:

•Third quarter of 2024 reserve assumption updates resulting in a net reserve decrease of $357.4 million before tax, or $282.6 million after tax.

•During the third quarter of 2024, we incurred a loss of $15.3 million before tax, or $12.1 million after tax, for the settlement of an employment-related matter.

2023 Significant Items:

•Third quarter of 2023 reserve assumption updates resulting in a net reserve increase of $177.2 million before tax, or $139.3 million after tax.

•In 2018, the Financial Accounting Standards Board issued ASU 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts”. This update significantly amended the accounting and disclosure requirements for long-duration insurance contracts. The update was effective for periods beginning January 1, 2023. We adopted this guidance effective January 1, 2023 using the modified retrospective approach with changes applied as of January 1, 2021, also referred to as the transition date.

2022 Significant Items

•Third quarter of 2022 reserve assumption updates resulting in a net reserve reduction of $243.3 million before tax, or $192.1 million after tax.

15

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Appendix to Statistical Supplement - Continued

Non-GAAP Financial Measures

We analyze our performance using non-GAAP financial measures which exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. We believe the following non-GAAP financial measures are better performance measures and better indicators of the revenue and profitability and underlying trends in our business:

•Consolidated adjusted operating revenue, which excludes investment gains or losses;

•After-tax adjusted operating income or loss, which excludes investment gains or losses, amortization of the cost of reinsurance, non-contemporaneous reinsurance, and reserve assumption updates, as well as certain other items, as applicable;

•Adjusted operating return on equity, which is calculated using after-tax adjusted operating income or loss and excludes from equity the unrealized gain or loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain or loss on derivatives;

•Leverage ratio, which excludes the unrealized gain or loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain or loss on derivatives; and

•Book value per common share, which is calculated excluding accumulated other comprehensive income (loss) (AOCI).

Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. Investment gains or losses and unrealized gains or losses on securities depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our Company. Leverage ratio and book value per common share excluding certain components of AOCI, certain of which tend to fluctuate depending on market conditions and general economic trends, are important measures.

Cash flow assumptions used to calculate our liability for future policy benefits are reviewed at least annually and updated, as needed, with the resulting impact reflected in net income. While the effects of these assumption updates are recorded in the reporting period in which the review is completed, these updates reflect experience emergence and changes to expectations spanning multiple periods. We believe that by excluding the impact of reserve assumption updates we are providing a more comparable and consistent view of our quarterly results.

We exited a substantial portion of our Closed Block individual disability product line through the two phases of the reinsurance transaction that were executed in December 2020 and March 2021. As a result, we exclude the amortization of the cost of reinsurance that we recognized upon the exit of the business related to the policies on claim status as well as the impact of non-contemporaneous reinsurance that resulted from the adoption of ASU 2018-12. Due to the execution of the second phase of the reinsurance transaction occurring after January 1, 2021, the transition date of ASU 2018-12, in accordance with the provisions of the ASU related to non-contemporaneous reinsurance, we were required to establish the ceded reserves using an upper-medium grade fixed-income instrument as of the reinsurance transaction date in March 2021 which resulted in higher ceded reserves compared to that which was reported historically. However, the direct reserves for the block reinsured in the second phase were calculated using the original discount rate utilized as of the transition date. Both the direct and ceded reserves are then remeasured at each reporting period using a current discount rate reflective of an upper-medium grade fixed-income instrument, with the changes recognized in other comprehensive income (loss). While the total equity impact is neutral, the different original discount rates utilized for direct and ceded reserves result in disproportionate earnings impacts. The impact of non-contemporaneous reinsurance will fluctuate depending on the magnitude of reserve changes during the period. We believe that the exclusion of these items provides a better view of our results from our ongoing businesses.

15.1

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Appendix to Statistical Supplement - Continued

We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability.

For a reconciliation of the most directly comparable GAAP measures to these non-GAAP financial measures, refer to the "Reconciliation of Non-GAAP Financial Measures" beginning on page 15.3, other than book value per common share, which is presented on page 2.

15.2

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Reconciliation of Non-GAAP Financial Measures

			Three Months Ended
			September 30						June 30						March 31						December 31						September 30						June 30						March 31
			2024																		2023
Total Revenue			$	3,217.0					$	3,233.4					$	3,200.3					$	3,145.1					$	3,092.5					$	3,112.2					$	3,036.1
Excluding:
Net Investment Gain (Loss)			(12.9)						(10.4)						(1.2)						(6.0)						(31.0)						0.9						0.1
Adjusted Operating Revenue			$	3,229.9					$	3,243.8					$	3,201.5					$	3,151.1					$	3,123.5					$	3,111.3					$	3,036.0

15.3

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Reconciliation of Non-GAAP Financial Measures - Continued

						After-Tax Adjusted Operating Income (Loss)						Average Allocated Equity1						Annualized Adjusted Operating Return on Equity
Three Months Ended September 30, 2024
Unum US						$	287.5					$	4,516.9					25.5		%
Unum International						31.2						771.2						16.2		%
Colonial Life						89.4						1,860.8						19.2		%
Core Operating Segments						408.1						7,148.9						22.8		%
Closed Block						24.4						5,707.1
Corporate						(34.5)						3.6
Total						$	398.0					$	12,859.6					12.4		%
Three Months Ended September 30, 2023
Unum US						$	282.8					$	4,458.1					25.4		%
Unum International						27.6						790.3						14.0		%
Colonial Life						81.1						1,738.5						18.7		%
Core Operating Segments						391.5						6,986.9						22.4		%
Closed Block						24.6						5,335.8
Corporate						(34.4)						(274.0)
Total						$	381.7					$	12,048.7					12.7		%

1 Excludes unrealized gain (loss) on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain (loss) on derivatives and is calculated using the stockholders' equity balances presented on page 15.7.

15.4

---

Reconciliation of Non-GAAP Financial Measures - Continued

						After-Tax Adjusted Operating Income (Loss)						Average Allocated Equity1						Annualized Adjusted Operating Return on Equity
Nine Months Ended September 30, 2024
Unum US						$	874.3					$	4,527.9					25.7		%
Unum International						92.5						781.4						15.8		%
Colonial Life						271.4						1,844.6						19.6		%
Core Operating Segments						1,238.2						7,153.9						23.1		%
Closed Block						79.1						5,644.7
Corporate						(98.0)						(113.0)
Total						$	1,219.3					$	12,685.6					12.8		%
Nine Months Ended September 30, 2023
Unum US						$	800.7					$	4,618.4					23.1		%
Unum International						96.7						773.3						16.7		%
Colonial Life						246.3						1,734.2						18.9		%
Core Operating Segments						1,143.7						7,125.9						21.4		%
Closed Block						106.7						5,166.3
Corporate						(87.3)						(534.8)
Total						$	1,163.1					$	11,757.4					13.2		%

1 Excludes unrealized gain (loss) on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain (loss) on derivatives and is calculated using the stockholders' equity balances presented on page 15.7.

15.5

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Reconciliation of Non-GAAP Financial Measures - Continued

						After-Tax Adjusted Operating Income (Loss)						Average Allocated Equity1						Adjusted Operating Return on Equity
Year Ended December 31, 2023
Unum US						$	1,071.0					$	4,635.7					23.1		%
Unum International						127.9						774.3						16.5		%
Colonial Life						315.6						1,744.5						18.1		%
Core Operating Segments						1,514.5						7,154.5						21.2		%
Closed Block						120.8						5,295.1
Corporate						(121.7)						(573.7)
Total						$	1,513.6					$	11,875.9					12.7		%
Year Ended December 31, 2022
Unum US						$	768.6					$	4,675.8					16.4		%
Unum International						161.8						781.6						20.7		%
Colonial Life						325.9						1,642.5						19.9		%
Core Operating Segments						1,256.3						7,099.9						17.7		%
Closed Block						194.1						4,873.7
Corporate						(156.2)						(979.8)
Total						$	1,294.2					$	10,993.8					11.8		%

1 Excludes unrealized gain (loss) on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain (loss) on derivatives and is calculated using the stockholders' equity balances presented on page 15.7.

15.6

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Reconciliation of Non-GAAP Financial Measures - Continued

Average allocated equity is computed as follows:

						9/30/2024						6/30/2024												12/31/2023						9/30/2023						6/30/2023						12/31/2022						12/31/2021
Total Stockholders' Equity						$	10,951.4					$	10,464.6											$	9,651.4					$	9,618.1					$	9,245.9					$	8,735.0					$	6,033.9
Excluding:
Net Unrealized Gain (Loss) on Securities						(1,491.2)						(2,723.8)												(1,919.1)						(3,948.4)						(2,762.6)						(3,028.4)						4,014.4
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits						(527.0)						712.3												(648.4)						1,688.5						0.1						313.9						(8,570.7)
Net Gain (Loss) on Derivatives						(108.9)						(164.6)												(73.7)						(177.7)						(33.3)						(9.6)						61.8
Total Adjusted Stockholders' Equity						$	13,078.5					$	12,640.7											$	12,292.6					$	12,055.7					$	12,041.7					$	11,459.1					$	10,528.4
						Three Months Ended						Nine Months Ended												Twelve Months Ended						Three Months Ended						Nine Months Ended						Twelve Months Ended
						9/30/2024																		12/31/2023						9/30/2023												12/31/2022
Average Adjusted Stockholders' Equity						$	12,859.6					$	12,685.6											$	11,875.9					$	12,048.7					$	11,757.4					$	10,993.8

15.7

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Reconciliation of Non-GAAP Financial Measures - Continued

						Three Months Ended September 30																								Nine Months Ended September 30
						2024												2023												2024												2023
						(in millions)						per share*						(in millions)						per share*						(in millions)						per share*						(in millions)						per share*
Net Income						$	645.7					$	3.46					$	202.0					$	1.02					$	1,430.4					$	7.52					$	953.2					$	4.81
Excluding:
Net Investment Loss (net of tax benefit of $3.1; $6.6; $5.7; $6.4)						(9.8)						(0.05)						(24.4)						(0.13)						(18.8)						(0.10)						(23.6)						(0.12)
Amortization of the Cost of Reinsurance (net of tax benefit of $2.2; $2.4; $6.5; $7.0)						(8.2)						(0.04)						(8.7)						(0.04)						(24.6)						(0.13)						(26.1)						(0.13)
Non-Contemporaneous Reinsurance (net of tax benefit of $1.2; $1.9; $4.2; $5.5)						(4.8)						(0.03)						(7.3)						(0.04)						(16.0)						(0.08)						(20.9)						(0.11)
Reserve Assumption Updates (net of tax expense (benefit) of $74.8; $(37.9); $74.8; $(37.9))						282.6						1.51						(139.3)						(0.71)						282.6						1.48						(139.3)						(0.70)
Loss on Legal Settlement (net of tax benefit $3.2; $—; $3.2; $—)						(12.1)						(0.06)						—						—						(12.1)						(0.06)						—						—
After-tax Adjusted Operating Income						$	398.0					$	2.13					$	381.7					$	1.94					$	1,219.3					$	6.41					$	1,163.1					$	5.87

*Assuming Dilution.

15.8

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Reconciliation of Non-GAAP Financial Measures - Continued

						Year Ended December 31
						2023												2022
						(in millions)						per share *						(in millions)						per share *
Net Income						$	1,283.8					$	6.50					$	1,407.2					$	6.96
Excluding:
Net Investment Loss (net of tax benefit of $7.8; $3.5)						(28.2)						(0.14)						(12.2)						(0.07)
Amortization of the Cost of Reinsurance (net of tax benefit of $9.3; $10.6)						(34.8)						(0.18)						(39.7)						(0.20)
Non-Contemporaneous Reinsurance (net of tax benefit of $7.3; $7.2)						(27.5)						(0.14)						(27.2)						(0.13)
Reserve Assumption Updates (net of tax expense (benefit) of $(37.9); $51.2)						(139.3)						(0.70)						192.1						0.96
After-tax Adjusted Operating Income						$	1,513.6					$	7.66					$	1,294.2					$	6.40

*Assuming Dilution.

15.9

---

Reconciliation of Non-GAAP Financial Measures - Continued

						September 30												December 31
						2024						2023						2023						2022
Debt						$	3,470.4					$	3,431.8					$	3,430.4					$	3,429.8
Including:
Lease Liability						73.1						61.6						62.6						67.9
Adjusted Debt and Lease Liability						$	3,543.5					$	3,493.4					$	3,493.0					$	3,497.7
Total Stockholders' Equity						$	10,951.4					$	9,618.1					$	9,651.4					$	8,735.0
Excluding:
Net Unrealized Loss on Securities						(1,491.2)						(3,948.4)						(1,919.1)						(3,028.4)
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits						(527.0)						1,688.5						(648.4)						313.9
Net Loss on Derivatives						(108.9)						(177.7)						(73.7)						(9.6)
Equity, As Adjusted						13,078.5						12,055.7						12,292.6						11,459.1
Debt, As Adjusted and Lease Liability						3,543.5						3,493.4						3,493.0						3,497.7
Total Adjusted Capital						$	16,622.0					$	15,549.1					$	15,785.6					$	14,956.8
Leverage Ratio						21.3		%				22.5		%				22.1		%				23.4		%

15.10

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Reconciliation of Non-GAAP Financial Measures - Continued

																		Three Months Ended
																		September 30, 2024						September 30, 2023
																		Premium Income						Premium Income, local currency1						Weighted Average Exchange Rate2						Premium Income in Constant Currency
Unum International
Unum UK																		$	206.8					£	142.2					1.301						$	185.0
Unum Poland																		39.8						zł	126.9					0.257						32.6
Total																		246.6																		217.6
Unum US																		1,723.5						$	1,657.7											1,657.7
Colonial Life																		441.9						$	431.2											431.2
Core Operations																		$	2,412.0																	$	2,306.5

																		Nine Months Ended
																		September 30, 2024						September 30, 2023
																		Premium Income						Premium Income, local currency1						Weighted Average Exchange Rate2						Premium Income in Constant Currency
Unum International
Unum UK																		$	593.8					£	419.2					1.278						$	535.7
Unum Poland																		113.3						zł	359.8					0.253						91.0
Total																		707.1																		626.7
Unum US																		5,161.8						$	4,908.7											4,908.7
Colonial Life																		1,335.0						$	1,291.3											1,291.3
Core Operations																		$	7,203.9																	$	6,826.7

1Premium income shown in millions of pounds for Unum UK, millions of zlotys for Unum Poland, and millions of U.S. dollars for Unum US and Colonial Life.

2Exchange rate is calculated using the average foreign currency exchange rates for the most recent period, applied to the comparable prior period.

15.11