Unum SEC Filings

Unum Group reported softer GAAP results but solid underlying performance for the fourth quarter of 2025 and outlined growth plans for 2026. Fourth-quarter net income was $174.1 million, or $1.04 per diluted share, down from $348.7 million a year earlier, largely due to items such as a $82.0 million after-tax settlement loss on a U.S. pension annuity purchase and a $15.8 million accelerated charitable contribution. Excluding investment losses, reinsurance-related items, and other specified adjustments, after-tax adjusted operating income was $322.3 million, or $1.92 per diluted share.

For full-year 2025, Unum generated $13.1 billion in revenue and $1.406 billion of after-tax adjusted operating income ($8.13 per diluted share). Core operations delivered an adjusted operating return on equity of 20.5%, supported by premium growth and disciplined underwriting across Unum US, Unum International, and Colonial Life.

Capital strength remained a key theme. Book value per common share was $67.11 at December 31, 2025, or $78.02 excluding accumulated other comprehensive loss. The weighted average risk-based capital ratio for Unum’s traditional U.S. insurance companies was about 440%, and holding company liquidity totaled $2.3 billion. During 2025, Unum returned roughly $1.3 billion to shareholders, including $1.0 billion of share repurchases and $307.2 million in common dividends, while reducing diluted weighted average shares to 172.9 million for the year.

Segment results were mixed. Unum US adjusted operating income declined to $289.7 million for the quarter, with group disability facing higher benefit ratios and lower sales in long-term disability, partially offset by growth in group life premiums and improved group life benefit ratios. Supplemental and voluntary benefits saw premium growth but lower adjusted operating income due to higher benefit ratios in voluntary, individual disability, and dental and vision products. Unum International’s adjusted operating income fell to $33.2 million, even as premium income rose 17.1%, reflecting higher benefit ratios in Unum UK. Colonial Life posted a 7.2% decrease in adjusted operating income to $113.9 million despite 3.2% premium growth and 10.0% higher sales.

The Closed Block segment, which houses legacy long-term care and other runoff blocks, reported quarterly adjusted operating income of $21.1 million but a large full-year GAAP loss driven by reinsurance effects and reserve updates, including the Fortitude Re long-term care reinsurance transaction. Management highlighted that reinsurance and the decision to stop accepting new enrollments on existing group long-term care policies have reduced the Closed Block’s relevance to future results.

Unum emphasized several non-GAAP metrics it believes better reflect ongoing performance, including after-tax adjusted operating income, book value per share excluding AOCI, premium income in constant currency, and adjusted operating return on equity. Core operations premium income in constant currency grew 3.7% in 2025, and the company achieved a 20.5% adjusted operating ROE on average allocated equity for its core segments.

Looking ahead, beginning in 2026 Unum plans to redefine after-tax adjusted operating income to exclude the Closed Block segment as well as certain reinsurance amortization items. On this redefined basis, 2025 after-tax adjusted operating income would have been $1.3716 billion, or $7.93 per diluted share. For full-year 2026, Unum is targeting after-tax adjusted operating income per share of $8.60 to $8.90, representing approximately 8% to 12% growth over the redefined 2025 result, supported by an outlook for core operations premium growth of 4% to 7%. Management expects positive business trends to continue, citing solid sales pipelines, ongoing investments in digital capabilities, and strong capital levels.

Unum Group is registering 200,000 shares of its common stock under a new employee share plan called the Unum European Holding Company Limited SAYE Share Option Scheme 2025. This filing allows eligible employees to receive and exercise share options granted under the plan using newly registered shares.

The company incorporates by reference its latest annual and quarterly reports, along with several recent current reports, so that investors and employees can rely on those disclosures for background information. The document also reiterates Unum’s existing indemnification protections for directors and officers under Delaware law, its charter and bylaws, and notes that the company maintains insurance for these individuals.

Unum Group senior vice president and chief accounting officer reported recent transactions in company stock. On December 9, 2025, the officer sold 900 shares of Unum Group common stock at a weighted average price of $73.5019 per share, as part of multiple trades within a narrow price range. On the same date, the officer also reported a gift of 473 shares of common stock at a price of $0, indicating a transfer without consideration.

After these transactions, the officer beneficially owned 8,467 shares of Unum Group common stock, including 5,546 stock-settled restricted stock units that can be settled on a 1-for-1 basis in common shares and 2,921 shares of common stock. All reported holdings are shown as directly owned.

Unum Group insider plans small stock sale under Rule 144. A holder of Unum Group common stock filed a notice to sell 900 shares through Fidelity Brokerage Services LLC on or about 12/09/2025, with an indicated aggregate market value of $66,151.68. The shares are listed as common stock traded on the NYSE, and the issuer reports 167,331,269 common shares outstanding. The securities to be sold were acquired on 03/01/2025 through restricted stock vesting from the issuer as compensation.

Unum Group announced that its Board of Directors has authorized a new share repurchase program allowing the company to buy back up to $1 billion of its outstanding common stock. The program will begin on January 1, 2026.

The company’s existing share repurchase program will remain in place through December 31, 2025, after which it will terminate and all additional buybacks will occur under the newly authorized program. The announcement was made through a news release that is included as an exhibit to this report.

Unum Group's Executive Vice President and Chief Financial Officer reported a routine insider transaction. On 11/19/2025, the officer sold 7,500 shares of Unum common stock at a weighted average price of $76.382 per share, with individual sale prices ranging from $76.36 to $76.44.

After this sale, the officer beneficially owns 113,807 shares of Unum equity. This total reflects prior exempt acquisitions of 105.549 shares through the employee stock purchase plan and includes 38,724 restricted stock units, 3,852 stock success units, and 71,231 shares of common stock, with the units each settling into one share of common stock.

An affiliate of the issuer filed a notice to sell 7,500 shares of common stock through Fidelity Brokerage Services on the NYSE, with an aggregate market value of $572,864.98. The notice states that 167,331,269 shares of this class were outstanding at the time. The shares to be sold were acquired between 2019 and 2021 through a mix of restricted stock vesting treated as compensation and employee stock purchase plan (ESPP) purchases paid in cash from the issuer.

Unum Group executive reports transfer of shares to spouse

An Unum Group (UNM) officer, listed as EVP & CEO of Unum International, reported a transfer of 6,800 shares of common stock on 11/14/2025. The transaction is coded as a "G" transaction, indicating a transfer of shares, and was recorded at a price of $0, meaning there was no consideration paid for the transfer.

After this transaction, the reporting person beneficially owns 18,486 shares, including 11,681 restricted stock units and 6,805 shares of common stock, which may be settled on a 1-for-1 basis in common stock. The 6,800 transferred shares are now reported as indirectly owned through the executive’s spouse, reflecting an internal reclassification of how these holdings are owned within the household rather than a market sale.

Unum Group (UNM) disclosed an insider stock transfer. The company’s President and CEO filed a Form 4 reporting a Code G transaction on 11/12/2025, transferring 60,000 shares of common stock for $0 total consideration.

Of these, 15,000 shares went to a spousal lifetime access trust (SLAT) and 45,000 shares went to a series of family trusts, each receiving an equal number of shares. Following the transactions, the reporting person beneficially owned 920,637 shares, which includes 174,782 restricted stock units, 63,365 stock success units, and 682,490 shares of common stock. Some holdings are reported as indirect through the SLAT and Family Trusts.