Unum Group (UNM)

Unum Group Announces $3.8 Billion Long-Term Care Reinsurance Transaction with Fortitude ReJuly 6, 2026 6:00 AM
Business Wire Transaction reinsures $3.8 billion of long-term care (LTC) statutory reserves, representing 26% of total LTC reserves and 52% of individual LTC reserves, each as of March 31, 2026 Combined with the LTC reinsurance transaction announced in 2025, cumulative reduction in Unum's total LTC statutory reserves is approximately 40% Covers 100% of remaining individual LTC policies reinsured to Fairwind Capital strength and capital deployment priorities remain unchanged Unum Group (NYSE: UNM) announced today that its Unum Life Insurance Company of America subsidiary (“Unum America”) has entered into an agreement to cede to Fortitude Reinsurance Company Ltd. (“Fortitude Re”), on a coinsurance basis, certain individual long-term care (“LTC”) insurance policies representing $3.8 billion of statutory reserves in Fairwind Insurance Company, a wholly owned subsidiary of Unum (“Fairwind”). At closing, Unum America will recapture the reinsured individual LTC block from Fairwind and cede the block to Fortitude Re. Fortitude Re will retrocede biometric risk on the reinsured block to a highly rated global reinsurer. Unum will retain administration of the reinsured business, including claims handling and premium rate increase program management. The reinsured block consists of approximately 50,000 individual LTC policies with $3.8 billion of statutory reserves and approximately $4.5 billion of best estimate reserves. Following the transaction, Unum’s remaining LTC statutory reserves are expected to be approximately $11.0 billion, with approximately 70% of remaining reserves backing group LTC policies, which generally have more basic benefit structures than individual LTC policies. “This marks another important step in advancing our Closed Block strategy to further reduce our exposure to our legacy long-term care business and maintain our focus on Unum’s leading employee benefits franchise,” said Richard P. McKenney, president and chief executive officer. “Building on the actions we have taken over the last several years, including our prior external reinsurance transactions, this agreement significantly reduces the size and risk profile of the Closed Block. With a strong capital position and a clear strategic focus, we remain committed to disciplined execution, prudent capital management, and delivering long-term value for shareholders.” The transaction represents the next step in Unum’s execution of its closed block strategy and follows the company’s previously announced LTC reinsurance transaction in 2025. Together, the two external transactions will have decreased the company’s closed block footprint through reinsurance of more than $7 billion of LTC statutory reserves. The transaction is expected to be funded through a combination of Fairwind excess capital, holding company liquidity and financing related to future tax benefits. Following the closing of the transaction, Unum expects to maintain a robust capital position, with year-end 2026 holding company liquidity of $1.5 billion to $2.0 billion, leverage of approximately 25%, and RBC of 400% to 425%. The transaction’s impact on operating earnings is expected to be limited to foregone investment income and incremental interest expense associated with transaction financing. The transaction is expected to close during 2026, subject to receipt of required regulatory approvals and satisfaction or waiver of other customary closing conditions. Members of Unum Group senior management will host a conference call on Monday, July 6, 2026, at 8:00 a.m. ET to discuss the reinsurance transaction. To access the conference call, you must register in advance using the following URL: https://registrations.events/direct/Q4I3307946. Upon registration, you will receive a dial-in number to use to access the event. It is recommended that you register at least 10 minutes before the start of the event. In addition, a live webcast of the call will be available in a listen-only mode on the company’s investors website at https://investors.unum.com. It is recommended that webcast viewers access the website and opt in to the webcast approximately 5-10 minutes prior to the start of the call. Following the conference call, a replay of the webcast will be available on the company’s investors website, and a recording of the call will also be available using the registration URL noted above through Monday, July 13, 2026. In conjunction with today’s announcement, a presentation with details of the transaction and additional information is available on the company’s investors website. Debevoise & Plimpton LLP served as legal counsel to Unum in connection with this transaction. FORWARD-LOOKING STATEMENTS Certain statements in this release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are made based on management’s current expectations and beliefs concerning future developments and their potential effects upon Unum Group and its subsidiaries. Unum Group’s actual results may differ, possibly materially, from expectations or estimates reflected in such forward-looking statements. Certain important factors that could cause actual results to differ, possibly materially, from expectations or estimates reflected in such forward-looking statements can be found in Part 1, Item 1A (Risk Factors) of Unum Group’s Annual Report on Form 10-K for the year ended December 31, 2025. The forward-looking statements in this release speak only as of the date of this release, and Unum Group does not undertake to update any particular forward-looking statement included in this release. ABOUT UNUM GROUP Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®. Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram. View source version on businesswire.com: https://www.businesswire.com/news/home/20260706373836/en/ MEDIA
Emily Downing-Baer
edowning@unum.com INVESTORS
Matt Royal
investorrelations@unum.com Original: Unum Group Announces $3.8 Billion Long-Term Care Reinsurance Transaction with Fortitude Re

Unum Group Promotes Andrew Walker to Executive Vice President, Chief Customer Operations OfficerJuly 1, 2026 4:15 PM
Business Wire Unum Group (NYSE: UNM) has promoted Andrew Walker to Executive Vice President, Chief Customer Operations Officer. In this role, Walker will continue to lead the company's Customer Operations organization, overseeing the teams, capabilities and transformation efforts that support how Unum Group shows up for customers, partners and the businesses it serves. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260701141161/en/Andrew Walker “Andrew has quickly made an impact by strengthening the way we serve customers and run our operations,” said Rick McKenney, president and chief executive officer of Unum Group. “This expanded capacity reflects the critical role Customer Operations plays in how we deliver for customers every day. Andrew brings the operational discipline and focus needed to keep that work moving forward.” Walker joined Unum Group in 2025 as Senior Vice President, Chief Customer Operations Officer. Since joining the company, he has focused on strengthening operational performance, simplifying processes and advancing initiatives that support better outcomes for customers, partners and the business. As Executive Vice President, Walker leads Customer Operations, including benefit operations, service delivery and transformation initiatives that support Unum Group’s commitment to delivering for customers when they need it most. "Unum Group's purpose comes to life through the experiences we create for customers every day," said Walker. "I'm honored by the opportunity to continue working alongside talented teams across the company as we strengthen our capabilities, simplify how we work and find new ways to deliver even greater value for the people and businesses we serve." Prior to joining Unum Group, Walker served as Executive Vice President and Chief Operations Officer at Western Union. He also held senior operations leadership roles at USAA and Nationwide. Walker earned a Bachelor of Science degree in accounting from Herbert Lehman College in New York and completed the Bank Administration Institute at Owen Graduate School of Management at Vanderbilt University, focused on innovation, marketing strategy and leadership for the banking industry. ABOUT UNUM GROUP Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®. Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram. View source version on businesswire.com: https://www.businesswire.com/news/home/20260701141161/en/ MEDIA:
Emily Downing-Baer
edowning@unum.com Original: Unum Group Promotes Andrew Walker to Executive Vice President, Chief Customer Operations Officer

Kristi Matus Elected to Unum Group Board of DirectorsMay 28, 2026 10:10 AM
Business Wire Unum Group (NYSE: UNM) today announced that Kristi Matus was elected to its board of directors last week at the company’s 2026 annual meeting of shareholders. In addition, she was appointed to serve on the audit committee and the risk and finance committee of the board. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528215160/en/Kristi Matus Matus brings more than 30 years of leadership and board experience across financial services, healthcare, and technology. Her background includes leading enterprise finance organizations, overseeing operations, government services, and administrative functions, and helping guide strategic planning and transformation initiatives for large, complex companies operating in highly regulated environments. She has held senior executive roles at USAA, Aetna, and athenahealth, and has served on several public company boards. “With her financial expertise, governance experience, and operational depth, Kristi brings a strong skillset to our board,” said Kevin Kabat, chair of Unum Group’s board of directors. “We look forward to her contributions as the board supports the company’s focus on responsible growth, disciplined execution, and long-term value creation.” Matus holds a bachelor’s degree in applied mathematics from the University of Wisconsin–Oshkosh. She is a member of the American Academy of Actuaries and a fellow of the Society of Actuaries. ABOUT UNUM GROUP Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®. Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram. View source version on businesswire.com: https://www.businesswire.com/news/home/20260528215160/en/ Emily Downing-Baer
edowning@unum.com Original: Kristi Matus Elected to Unum Group Board of Directors

Unum Group Names Steve Jones as President of Colonial LifeApril 30, 2026 2:23 PM
Business Wire
Tim Arnold will retire after 41 years with the company


Unum Group has appointed Steve Jones as president of Colonial Life, effective June 8. In this role, Jones will lead Colonial Life’s business performance and long-term strategy and report to Rick McKenney, president and chief executive officer at Unum Group.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260430186683/en/Steve Jones
As part of a planned transition, Jones will succeed Tim Arnold, who will retire in July after a 41-year career with Unum Group, including the last 11 years as president of Colonial Life.


“Colonial Life is a critical part of Unum Group’s growth strategy, and Steve is well prepared to lead the business forward. He brings deep industry experience, a strong track record of driving results and a clear focus on serving employers, brokers and the employees who count on our products. As we transition leadership, I am confident Steve will build on Colonial Life’s momentum and position the company for continued success,” said McKenney.


Jones joined Colonial Life in 2023 as senior vice president of field and market development. He brings more than 20 years of leadership experience across the insurance industry, with a strong focus on supplemental, ancillary and health products. Before joining Colonial Life, he held senior executive roles at leading insurers, including serving as president of Cigna Supplemental Benefits and chief operating and chief financial officer within Aetna’s senior supplemental insurance business.


“I am honored to step into the role of president of Colonial Life and build on the strong foundation Tim and our team have established. Colonial Life has a powerful purpose and a deep commitment to the customers we serve. I am excited to work with this talented organization to continue growing the business and delivering meaningful value for our customers,” said Jones.


“Tim’s leadership has had a lasting impact on Unum Group and Colonial Life. Over his tenure, he helped grow our voluntary benefits business, led through meaningful change and always kept customers at the center of our work. I am grateful for Tim’s steady leadership, his commitment to developing our people and the strong foundation he leaves behind,” added McKenney.


Jones earned a bachelor’s degree from Hampden-Sydney College and an MBA from Wake Forest University School of Business. Steve and his family live in Columbia, where he is active in the local community, serving on the boards of the United Way of the Midlands, City Year Columbia, and the Council of Advisors for South Carolina Manufacturers & Commerce.


ABOUT COLONIAL LIFE


Colonial Life & Accident Insurance Company, a subsidiary of Unum Group, provides financial protection benefits to America’s workers and their families when the unexpected happens. The company offers workplace benefits, including disability, life, accident, dental, cancer, critical illness and hospital confinement indemnity insurance. Colonial Life’s benefit services, education and innovative enrollment technology supports 95,000 businesses and 4 million workers. In 2025, Colonial Life paid more than $730 million in benefits to policyholders


Connect with Colonial Life on Facebook, LinkedIn and Instagram.


ABOUT UNUM GROUP


Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®.


Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260430186683/en/
MEDIA

Emily Downing

edowning@unum.com


Original: Unum Group Names Steve Jones as President of Colonial Life

Unum Group Reports First Quarter 2026 ResultsApril 28, 2026 4:15 PM
Business Wire

Net income of $232.0 million ($1.41 per diluted common share) for the first quarter of 2026; after-tax adjusted operating income was $352.5 million ($2.14 per diluted common share).



Favorable core operations top-line trends continued, with 14.4 percent sales growth and 3.9 percent premium growth on a constant currency basis; strong core operations margins, including 21.7 percent adjusted operating return on equity, drove solid traditional U.S. life insurance company statutory operating earnings of $314.0 million.



Robust capital return in the quarter with approximately $400 million of shares repurchased, and $78.4 million of common stock dividends; strong balance sheet with holding company liquidity of $1.7 billion and weighted average risk-based capital ratio of approximately 460 percent, well above target levels



Book value per common share of $67.76 grew 6.2 percent over the year-ago quarter; book value per common share excluding accumulated other comprehensive income (AOCI) of $78.93 grew 3.6 percent over the year-ago quarter.



Unum Group (NYSE: UNM) today reported net income of $232.0 million ($1.41 per diluted common share) for the first quarter of 2026, compared to net income of $189.1 million ($1.06 per diluted common share) for the first quarter of 2025.


Included in net income for the first quarter of 2026 is a net after-tax investment loss on the Company’s investment portfolio of $4.0 million ($0.03 per diluted common share) and the Closed Block segment after-tax adjusted operating loss of $116.5 million ($0.70 per diluted common share). Included in net income for the first quarter of 2025 is a net after-tax investment loss on the Company’s investment portfolio of $163.4 million ($0.91 per diluted common share) and the Closed Block segment after-tax adjusted operating income of $3.7 million ($0.02 per diluted common share). Excluding the items above, after-tax adjusted operating income was $352.5 million ($2.14 per diluted common share) in the first quarter of 2026, compared to $348.8 million ($1.95 per diluted common share) in the first quarter of 2025.


We applied updates throughout this document which reflects changes to prior year reported information to align to current year presentation. See "Non-GAAP Financial Measures" beginning on page 4 for more information regarding this update.


“The first quarter marked a strong start to the year, with solid top and bottom line performance across our businesses,” said Richard P. McKenney, president and chief executive officer. “Customer demand remained positive, as a strong increase in sales coupled with good retention rates drove overall premium growth. Our approach to the market continues to resonate with employers and distribution partners. Actions taken in the Closed Block in 2025 continue to result in an improving risk profile including some employers’ decisions to discontinue their long-term care plans. As part of our disciplined capital deployment strategy, we returned substantial capital to shareholders, through $400 million in share repurchases and $78 million in dividends. As we look ahead, we remain confident in our resilient business model, strong capital position, and ability to deliver for our customers and shareholders.”


RESULTS BY SEGMENT


We measure and analyze our segment performance on the basis of "segment adjusted operating income" or "segment adjusted operating loss", which differ from income before income tax as presented in our consolidated statements of income due to the exclusion of investment gains or losses, reserve assumption updates, and certain other items as specified in the reconciliations below. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, impairment losses, and gains or losses on derivatives. Reserve assumption updates may result in increases or decreases to earnings. These performance measures are in accordance with U.S. generally accepted accounting principles (GAAP) guidance for segment reporting, but they should not be viewed as a substitute for income before income tax, net income, or net loss.


Unum US Segment


Unum US reported an increase of 2.7 percent in segment adjusted operating income to $337.9 million in the first quarter of 2026, compared to $329.1 million in the first quarter of 2025. Premium income increased 3.3 percent to $1,840.5 million in the first quarter of 2026, compared to $1,780.9 million in the first quarter of 2025. Net investment income increased 6.3 percent to $158.3 million in the first quarter of 2026, compared to the $148.9 million in the first quarter of 2025. Sales increased 20.8 percent to $335.1 million in the first quarter of 2026, compared to $277.5 million in the first quarter of 2025.


Within the Unum US operating segment, the group disability line of business reported a 10.6 percent decrease in segment adjusted operating income to $106.6 million in the first quarter of 2026, compared to $119.2 million in the first quarter of 2025. Premium income for the group disability line of business was $809.5 million in the first quarter of 2026, which increased compared to $782.8 million in the first quarter of 2025, due primarily to favorable persistency and prior period sales, partially offset by the expected run off in medical stop-loss premium. Net investment income was $76.0 million in the first quarter of 2026, which was generally consistent compared to $74.0 million in the first quarter of 2025. The benefit ratio for the first quarter of 2026 was 63.7 percent, compared to 61.8 percent in the first quarter of 2025, due to pricing actions, as well as higher incidence in the short-term disability product line. Persistency in the group long-term disability product line was 92.2 percent for the first three months of 2026, compared to 90.7 percent for the first three months of 2025. Persistency in the group short-term disability product line was 90.7 percent for the first three months of 2026, compared to 87.5 percent for the first three months of 2025.


The group life and accidental death and dismemberment line of business reported a 66.3 percent increase in segment adjusted operating income to $115.1 million in the first quarter of 2026, compared to $69.2 million in the first quarter of 2025. Premium income for this line of business increased 6.6 percent to $548.4 million in the first quarter of 2026, compared to the $514.4 million in the first quarter of 2025, due to favorable persistency and prior period sales. Net investment income increased 29.1 percent to $23.5 million in the first quarter of 2026, compared to $18.2 million in the first quarter of 2025, due to an increase in the allocation of net investment income on corporate owned excess assets as well as an increase in the yield on invested assets. The benefit ratio in the first quarter of 2026 was 61.8 percent, compared to 69.3 percent in the first quarter of 2025, due to lower claim incidence in the group life and accidental death and dismemberment product lines. Persistency in the group life product line was 92.6 percent for the first three months of 2026, compared to 89.2 percent for the first three months of 2025. Persistency in the accidental death and dismemberment product line was 92.2 percent for the first three months of 2026, compared to 87.9 percent for the first three months of 2025.


The supplemental and voluntary line of business reported a decrease of 17.4 percent in segment adjusted operating income to $116.2 million in the first quarter of 2026, compared to $140.7 million in the first quarter of 2025. Premium income for the supplemental and voluntary line of business decreased 0.2 percent to $482.6 million in the first quarter of 2026, compared to $483.7 million in the first quarter of 2025, due to the impact of ceding a portion of the individual disability product line as a part of the Fortitude Re reinsurance transaction and lower persistency across all product lines, mostly offset by higher sales in the voluntary benefits and individual disability product lines. Net investment income was $58.8 million in the first quarter of 2026, which was generally consistent compared to $56.7 million in the first quarter of 2025. The benefit ratio was 49.9 percent in the first quarter of 2026, compared to 46.1 percent in the first quarter of 2025, primarily due to higher average claim size in the individual disability product line and higher claim incidence within the individual disability and voluntary benefits product lines. Persistency in the voluntary benefits product line was 75.8 percent for the first three months of 2026, compared to 76.8 percent for the first three months of 2025. Persistency in the individual disability product line was 87.9 percent for the first three months of 2026, compared to 88.2 percent for the first three months of 2025. Persistency in the dental and vision product line was 79.9 percent for the first three months of 2026, compared to 82.2 percent for the first three months of 2025.


Unum International Segment


The Unum International segment reported segment adjusted operating income of $30.9 million in the first quarter of 2026, a decrease of 20.2 percent from $38.7 million in the first quarter of 2025. Premium income increased 16.2 percent to $286.7 million in the first quarter of 2026, compared to $246.7 million in the first quarter of 2025. Net investment income increased 3.9 percent to $29.6 million in the first quarter of 2026, compared to $28.5 million in the first quarter of 2025. Sales increased 14.1 percent to $42.1 million in the first quarter of 2026, compared to $36.9 million in the first quarter of 2025.


The Unum UK line of business reported segment adjusted operating income, in local currency, of £20.4 million in the first quarter of 2026, a decrease of 30.8 percent from £29.5 million in the first quarter of 2025. Premium income was £172.1 million in the first quarter of 2026, an increase of 6.6 percent from £161.5 million in the first quarter of 2025, due primarily to sales across all product lines. Net investment income was £19.1 million in the first quarter of 2026, a decrease of 5.0 percent from £20.1 million in the first quarter of 2025, due to lower income from inflation index-linked bonds. The benefit ratio was 72.9 percent in the first quarter of 2026, compared to 67.1 percent in the first quarter of 2025, due primarily to higher average claim size and higher claim incidence in the group long-term disability product line. Sales increased 15.0 percent to £24.5 million in the first quarter of 2026, compared to £21.3 million in the first quarter of 2025. Persistency in the group long-term disability product line was 90.6 percent for the first three months of 2026, compared to 92.1 percent for the first three months of 2025. Persistency in the group life product line was 87.1 percent for the first three months of 2026, compared to 88.9 percent for the first three months of 2025. Persistency in the supplemental product line was 91.4 percent for the first three months of 2026, compared to 89.4 percent for the first three months of 2025.


Colonial Life Segment


Colonial Life reported segment adjusted operating income of $127.8 million in the first quarter of 2026, a 10.5 percent increase compared to $115.7 million in the first quarter of 2025. Premium income increased 3.4 percent to $472.7 million in the first quarter of 2026, compared to $457.3 million in the first quarter of 2025, due to prior period sales and stable overall persistency. Net investment income increased 10.9 percent to $46.8 million in the first quarter of 2026, compared to $42.2 million in the first quarter of 2025, due to an increase in the allocation of net investment income from our corporate owned excess assets and an increase in the level of invested assets. The benefit ratio was 46.0 percent in the first quarter of 2026, compared to 47.7 percent in the first quarter of 2025, primarily due to favorable benefits experience in the life and cancer and critical illness product lines. Sales increased 0.9 percent to $106.3 million in the first quarter of 2026, compared to $105.3 million in the first quarter of 2025. Persistency in the Colonial Life segment was 78.1 percent for the first three months of 2026 and 2025.


Corporate Segment


The Corporate segment reported a segment adjusted operating loss of $43.6 million in the first quarter of 2026, compared to a segment adjusted operating loss of $41.1 million in the first quarter of 2025, due primarily to decreased net investment income, which was driven by a decrease in the yield on invested assets.


Closed Block Segment


The Closed Block segment reported a segment adjusted operating loss of $145.3 million in the first quarter of 2026, compared to segment adjusted operating income $8.0 million in the first quarter of 2025, driven primarily by group policy terminations and claim incidence in the long-term care product line and lower net investment income. As a result of benefits experience during the first quarter of 2026, the net premium ratio increased to 97.6 percent from 97.5 percent as of December 31, 2025. Results also reflect robust protections at our Fairwind entity, measured by statutory reserves and excess capital above our best estimate reserves, at $2.2 billion, and continued risk management actions including 15 percent achievement of our current premium rate approval program.


OTHER INFORMATION


Shares Outstanding


The Company’s weighted average number of shares outstanding, assuming dilution, was 164.4 million for the first quarter of 2026, compared to 178.9 million for the first quarter of 2025. Shares outstanding totaled 160.7 million at March 31, 2026. During the first quarter of 2026, the Company repurchased 5.4 million shares at a total cost of $402.4 million.


Capital Management


At March 31, 2026, the weighted average risk-based capital ratio for the Company’s traditional U.S. insurance companies was approximately 460 percent, and the holding companies had available holding company liquidity of $1,726.1 million.


Book Value


Book value per common share as of March 31, 2026 was $67.76, compared to $63.78 at March 31, 2025. Book value per common share excluding AOCI as of March 31, 2026 was $78.93, compared to $76.17 at March 31, 2025.


Effective Income Tax Rate


The effective income tax rate used to determine after-tax adjusted operating income was 22.2 percent in the first quarter of 2026, compared to 21.2 percent in the first quarter of 2025. The increase in the rate was driven primarily by lower excess tax benefit on equity compensation.


Outlook


Full-year 2026 outlook for after-tax adjusted operating income per share of $8.60 to $8.90 which represents growth of approximately 8 percent to 12 percent when comparing to our redefined full-year 2025 result of $7.93 per share.


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:



After-tax adjusted operating income or loss, which excludes investment gains or losses, Closed Block segment after-tax adjusted operating income or loss, reserve assumption updates, and certain other items;



Book value per common share, which is calculated excluding AOCI;



Premium income in constant currency, which excludes the impact of fluctuations in exchange rates between the U.S. dollar and the local currencies in which our Unum International segment is conducted. Given volatility in foreign currency exchange markets, exchange rates can fluctuate between periods. We believe translating prior period results using current period local currency exchange rates provides a more comparable view of our results; and



Adjusted operating return on equity, which is calculated using our core operating segments' after-tax segment adjusted operating income or loss and our core operating segments' equity adjusted to exclude 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.



After-tax segment adjusted operating income or loss, which excludes investment gains or losses and reserve assumption updates, as well as certain other items, as applicable.



We measure and analyze our segment performance on the basis of "segment adjusted operating revenue" and "segment adjusted operating income" or "segment adjusted operating loss", which differ from total revenue and income before income tax as presented in our consolidated statements of income due to the following items:



Segment adjusted operating revenue, which excludes investment gains or losses;



Segment adjusted operating income or loss, which excludes investment gains or losses and reserve assumption updates, as well as certain other items, as applicable.



Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, impairment 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. We believe after-tax adjusted operating income is a better performance measure and better indicator of the profitability and underlying trends in our business. Book value per common share excluding AOCI provides a more comparable and consistent view of our results, as AOCI tends to fluctuate depending on market conditions and general economic trends.


We have completed reinsurance transactions to exit significant portions of our Closed Block businesses and we are no longer accepting new enrollments on existing group long-term care policies. As a result of these actions and the continued run-off of the Closed Block business, Closed Block segment earnings are less relevant to our financial results and as such, we exclude the results of the Closed Block segment from after-tax adjusted operating income. As part of this update, we also determined that it is no longer necessary to adjust after-tax adjusted operating income to exclude the amortization of the cost of reinsurance, the amortization of the deferred gain on reinsurance, and the impact of non-contemporaneous reinsurance, because the majority of these items are included in Closed Block segment results. Prior period financial information has been adjusted to conform to this updated presentation.


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 results.


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.


CONFERENCE CALL INFORMATION


Members of Unum Group senior management will host a conference call on Wednesday, April 29, 2026, at 8:00 am (Eastern Time) to discuss the results of operations for the first quarter of 2026. Topics may include forward-looking information, such as the Company’s outlook on future results, trends in operations, and other material information.


To receive dial in information for the call, please register in advance by using the following URL: https://registrations.events/direct/Q4I3307983. Upon registration you will receive a dial-in number to use to access the event. It is recommended that you register at least 10 minutes before the start of the event. In addition, a live webcast of the call will also be available at www.investors.unum.com in a listen-only mode. It is recommended that webcast viewers access the “Investors” section of the Company’s website and opt-in to the webcast approximately 5-10 minutes prior to the start of the call. A replay of the webcast will be available on the Company's website. A replay of the call will also be available through Wednesday, May 6, 2026 by using the registration URL noted above.


In conjunction with today’s earnings announcement, the Company’s Statistical Supplement for the first quarter of 2026 is available on the “Investors” section of the Company’s website.


ABOUT UNUM GROUP


Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®.


Visit the Unum Group newsroom (https://www.unumgroup.com/newsroom) for more information, and connect with us on LinkedIn (https://www.linkedin.com/company/unum), Facebook (https://www.facebook.com/unumbenefits/), and Instagram (https://www.instagram.com/unumbenefits/).


SAFE HARBOR STATEMENT


Certain information in this news release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those not based on historical information, but rather relate to our outlook, future operations, strategies, financial results, or other developments and speak only as of the date made. These forward-looking statements, including statements about anticipated after-tax adjusted operating income per share, are subject to numerous assumptions, risks, and uncertainties, many of which are beyond our control. The following factors, in addition to other factors mentioned from time to time, may cause actual results to differ materially from those contemplated by the forward-looking statements: (1) fluctuation in insurance reserve liabilities, claim payments, and pricing due to changes in claim incidence, recovery rates, mortality and morbidity rates, and policy benefit offsets due to, among other factors, the rate of unemployment and consumer confidence, the emergence of new diseases, epidemics, or pandemics, new trends and developments in medical treatments, the effectiveness of our claims operational processes, and changes in governmental programs; (2) sustained periods of low interest rates; (3) unfavorable economic or business conditions, both domestic and foreign, that may result in decreases in sales, premiums, or persistency, as well as unfavorable claims activity or unfavorable returns on our investment portfolio; (4) changes in, or interpretations or enforcement of, laws and regulations; (5) a cybersecurity attack or other security breach resulting in compromised data or the unauthorized acquisition of confidential data; (6) the failure of our business recovery and incident management processes to resume our business operations in the event of a natural catastrophe, cybersecurity attack, or other event; (7) increased competition from other insurers and financial services companies due to industry consolidation, new entrants to our markets, or other factors; (8) investment results, including, but not limited to, changes in interest rates, defaults, changes in credit spreads, impairments, and the lack of appropriate investments in the market which can be acquired to match our liabilities; (9) ineffectiveness of our derivatives hedging programs due to changes in forecasted cash flows, the economic environment, counterparty risk, ratings downgrades, capital market volatility, collateral requirements, changes in interest rates, and/or regulation; (10) our ability to develop digital capabilities or execute on our technology systems upgrades or replacements; (11) our use of artificial intelligence technology, as well as changes in artificial intelligence laws and regulations; (12) the impact of pandemics and other public health issues on our business, financial position, results of operations, liquidity and capital resources, and overall business operations; (13) changes in our financial strength and credit ratings; (14) the ability of our reinsurers to meet their obligations to us and availability of reinsurance in the market; (15) our ability to hire and retain qualified employees; (16) disruptions to our business or our ability to access data caused by the use and reliance on third party vendors, including vendors providing web and cloud-based applications; (17) ability to generate sufficient internal liquidity and/or obtain external financing; (18) damage to our reputation due to, among other factors, regulatory investigations, legal proceedings, social issues, third-party vendors, external events, and/or cyber or other information security incidents; (19) recoverability and/or realization of the carrying value of our intangible assets, long-lived assets, and deferred tax assets; (20) effectiveness of our risk management program; (21) contingencies and the level and results of litigation; (22) fluctuation in foreign currency exchange rates; and (23) our ability to meet sustainability standards and expectations of investors, regulators, customers, and other stakeholders.


For further discussion of risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part 1, Item 1A “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2025. The forward-looking statements in this news release are being made as of the date of this news release, and we expressly disclaim any obligation to update or revise any forward-looking statement contained herein, even if made available on our website or otherwise.




Unum Group




FINANCIAL HIGHLIGHTS




(Unaudited)










 



($ in millions, except share data)






 






 






 








 






Three Months Ended March 31








 






 






2026






 






 






 






2025






 








Revenue






 






 






 








Premium Income






$






2,794.0






 






 






$






2,702.9






 








Net Investment Income






 






483.4






 






 






 






513.2






 








Net Investment Loss






 






(5.0






)






 






 






(206.8






)








Other Income






 






82.8






 






 






 






82.3






 








Total Revenue






 






3,355.2






 






 






 






3,091.6






 








 






 






 






 








Benefits and Expenses






 






 






 








Policy Benefits Including Remeasurement Loss (Gain)






 






2,004.0






 






 






 






1,871.0






 








Commissions






 






368.5






 






 






 






343.2






 








Interest and Debt Expense






 






53.1






 






 






 






52.0






 








Deferral of Acquisition Costs






 






(190.6






)






 






 






(172.6






)








Amortization of Deferred Acquisition Costs






 






134.2






 






 






 






125.4






 








Other Expenses






 






683.3






 






 






 






629.0






 








Total Benefits and Expenses






 






3,052.5






 






 






 






2,848.0






 








 






 






 






 








Income Before Income Tax






 






302.7






 






 






 






243.6






 








Income Tax Expense






 






70.7






 






 






 






54.5






 








 






 






 






 








Net Income






$






232.0






 






 






$






189.1






 








 






 






 






 








PER SHARE INFORMATION






 






 






 








 






 






 






 








Net Income Per Common Share






 






 






 








Basic






$






1.41






 






 






$






1.06






 








Assuming Dilution






$






1.41






 






 






$






1.06






 








 






 






 






 








Weighted Average Common Shares - Basic (000s)






 






164,073.9






 






 






 






178,291.5






 








Weighted Average Common Shares - Assuming Dilution (000s)






 






164,399.5






 






 






 






178,882.4






 








Outstanding Shares - (000s)






 






160,749.6






 






 






 






175,826.9






 









Reconciliation of Non-GAAP Financial Measures








 



 






Three Months Ended March 31








 






2026






 






2025








 






(in millions)






 






per share *






 






(in millions)






 






per share *








Net Income






$






232.0






 






 






$






1.41






 






 






$






189.1






 






 






$






1.06






 








Excluding:






 






 






 






 






 






 






 








Net Investment Loss






 






 






 






 






 






 






 








Net Investment Loss Related to the Fortitude Re Reinsurance Transaction (net of tax benefit of $—; $36.9)






 






—






 






 






 






—






 






 






 






(139.0






)






 






 






(0.78






)








Net Investment Loss, Other (net of tax benefit of $1.0; $6.5)






 






(4.0






)






 






 






(0.03






)






 






 






(24.4






)






 






 






(0.13






)








Total Net Investment Loss






 






(4.0






)






 






 






(0.03






)






 






 






(163.4






)






 






 






(0.91






)








Closed Block Segment After-Tax Adjusted Operating Income (Loss) (net of tax expense (benefit) of $(28.8); $4.3)






 






(116.5






)






 






 






(0.70






)






 






 






3.7






 






 






 






0.02






 








After-tax Adjusted Operating Income






$






352.5






 






 






$






2.14






 






 






$






348.8






 






 






$






1.95






 








 






 






 






 






 






 






 






 








* Assuming Dilution






 






 






 






 






 






 






 









 






March 31








 






2026






 






2025








 






(in millions)






 






per share






 






(in millions)






 






per share








Total Stockholders' Equity (Book Value)






$






10,892.4






 






 






$






67.76






 






 






$






11,214.0






 






 






$






63.78






 








Excluding:






 






 






 






 






 






 






 








Net Unrealized Loss on Securities






 






(2,432.3






)






 






 






(15.13






)






 






 






(2,333.2






)






 






 






(13.27






)








Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits






 






1,395.1






 






 






 






8.68






 






 






 






1,019.1






 






 






 






5.80






 








Net Loss on Derivatives






 






(282.1






)






 






 






(1.76






)






 






 






(225.2






)






 






 






(1.28






)








Subtotal






 






12,211.7






 






 






 






75.97






 






 






 






12,753.3






 






 






 






72.53






 








Excluding:






 






 






 






 






 






 






 








Foreign Currency Translation Adjustment






 






(268.6






)






 






 






(1.67






)






 






 






(300.7






)






 






 






(1.71






)








Subtotal






 






12,480.3






 






 






 






77.64






 






 






 






13,054.0






 






 






 






74.24






 








Excluding:






 






 






 






 






 






 






 








Unrecognized Pension and Postretirement Benefit Costs






 






(207.6






)






 






 






(1.29






)






 






 






(338.8






)






 






 






(1.93






)








Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Loss






$






12,687.9






 






 






$






78.93






 






 






$






13,392.8






 






 






$






76.17






 









 






Three Months Ended









 






March 31, 2026






 







March 31, 2025









 






Premium Income






 







Premium Income

in Local

Currency1







 







Weighted Average

Premium Income

Exchange Rate2







 






Premium Income

in Constant

Currency









 






 








 








 









 






 








 








 









Unum International






 






 







 







 







 







 






 









Unum UK






$






232.1






 







£






161.5







 







1.349







 






$






217.9









Unum Poland






 






54.6






 







zl






171.2







 







0.277







 






 






47.4









Total






 






286.7






 







 







 







 







 






 






265.3









Unum US






 






1,840.5






 







$






1,780.9







 







 







 






 






1,780.9









Colonial Life






 






472.7






 







$






457.3







 







 







 






 






457.3









Core Operations






$






2,599.9






 







 







 







 







 






$






2,503.5










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.









 






 






After-Tax Segment

Adjusted Operating

Income (Loss)






 






Average

Allocated

Equity1






 






Annualized

Adjusted

Operating

Return on

Equity








 






 






 






 








 






 






 






 








Three Months Ended March 31, 2026






 






 






 






 






 






 








Unum US






 






$






267.8






 






 






$






4,291.0






 






25.0






%








Unum International






 






 






22.8






 






 






 






837.8






 






10.9






%








Colonial Life






 






 






101.2






 






 






 






2,109.7






 






19.2






%








Core Operating Segments






 






 






391.8






 






 






 






7,238.5






 






21.7






%








Corporate






 






 






(39.3






)






 






 






1,513.9






 






 








Closed Block






 






 






(116.5






)






 






 






3,589.0






 






 








Total






 






$






236.0






 






 






$






12,341.4






 






 









1 Excludes unrealized loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net loss on derivatives and is calculated using the stockholders' equity balances presented below. Due to updates to our calculation of after-tax adjusted operating income for which the beginning balance of 2026 for certain stockholders' equity line items were adjusted, we are computing the average allocated equity for 2026 using internally allocated equity that reflects the adjusted beginning balance at January 1, 2026. As a result, average equity for the three months ended March 31, 2026 for certain of our segments will not compute using the historical allocated equity at December 31, 2025.









 






Three Months Ended March 31








 






 






2026






 








 






(in millions)








Net Income






$






232.0






 








Excluding:






 








Net Investment Loss (net of tax benefit of $1.0)






 






(4.0






)








After-tax Segment Adjusted Operating Income






$






236.0






 









 






 






3/31/2026






 






12/31/2025








Total Stockholders' Equity






 






$






10,892.4






 






 






$






11,119.1






 








Excluding:






 






 






 






 








Net Unrealized Loss on Securities






 






 






(2,432.3






)






 






 






(2,003.1






)








Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits






 






 






1,395.1






 






 






 






929.9






 








Net Loss on Derivatives






 






 






(282.1






)






 






 






(278.8






)








Total Adjusted Stockholders' Equity






 






$






12,211.7






 






 






$






12,471.1






 








 






 






 






 






 








 






 






Three Months Ended








 






 






3/31/2026








Average Adjusted Stockholders' Equity






 






$






 






 






 






 






12,341.4






 









 






Three Months Ended March 31








 






 






2026






 






 






 






2025






 








 






(in millions of dollars)








Income Before Income Tax






$






302.7






 






 






$






243.6






 








Excluding:






 






 






 








Net Investment Loss






 






 






 








Net Investment Loss Related to the Fortitude Re Reinsurance Transaction






 






—






 






 






 






(175.9






)








Net Investment Loss, Other






 






(5.0






)






 






 






(30.9






)








Total Net Investment Loss






 






(5.0






)






 






 






(206.8






)








Segment Adjusted Operating Income






$






307.7






 






 






$






450.4






 







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260428463003/en/
MEDIA

Emily Downing-Baer

edowning@unum.com


INVESTORS

Matt Royal

investorrelations@unum.com


Original: Unum Group Reports First Quarter 2026 Results

Unum Group to Release First Quarter 2026 Results and Host Conference CallApril 6, 2026 2:43 PM
Business Wire
Unum Group (NYSE: UNM) will release its first quarter 2026 results on April 28, 2026, at approximately 4:15 p.m. ET. The earnings release and financial supplement will be available in the investors section of the company’s website, which can be directly accessed at https://investors.unum.com.


Members of Unum Group’s senior management will host a conference call on April 29, 2026, at 8:00 a.m. ET to discuss first quarter results. Topics may include forward-looking information, such as guidance on future results or trends in operations, as well as other material information. Interested parties are invited to listen and participate in the question-and-answer segment.


To receive dial-in information for the call, please register in advance through the URL below.


Dial In Registration URL: https://registrations.events/direct/Q4I3307983


A live webcast of the call will be available in a listen-only mode. Participants should access the webcast approximately 10 minutes before the call.


Webcast URL: https://events.q4inc.com/attendee/144321079


Unum will keep a recording of the call on the Investor site through May 6, 2026. The replay can be accessed through the same dial-in registration URL above.


Anticipated future earnings release dates / conference call dates & times:


Second Quarter 2026 – July 28th / July 29th 8 a.m.

Third Quarter 2026 – November 3rd / November 4th 8 a.m.

Fourth Quarter 2026 – February 2nd / February 3rd 8 a.m.


About Unum Group


Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®.


Visit the Unum Group newsroom for more information, and connect with us on LinkedIn, Facebook and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260406517572/en/
MEDIA

Emily Downing-Baer

edowning@unum.com


INVESTORS

Matt Royal

investorrelations@unum.com


Original: Unum Group to Release First Quarter 2026 Results and Host Conference Call

Unum Expands Broker Connect Partnership With Employee NavigatorMarch 24, 2026 11:11 AM
Business Wire
Unum (NYSE: UNM) has announced expanded capabilities within its Unum Broker Connect integration with Employee Navigator, introducing automated billing and eligibility features that advance how brokers and employers administer benefits and leave.


Building on nearly a decade of partnership, Unum is expanding its Broker Connect integration with Employee Navigator to include automated eligibility and billing capabilities. The enhancements build on automated plan setup and digital Evidence of Insurability capabilities introduced in 2024, reducing administrative work, improving accuracy, and delivering a more connected, modern experience for brokers and their clients.


“The strength of our partnership with Employee Navigator and depth of our enhancements reflect our commitment to meet the needs of the market,” said Erin Casey, Unum Group’s SVP, Platform Partnerships. “As benefits and leave become more interconnected, our focus is on removing friction and delivering solutions that feel seamless, scalable, and purpose-built for the way brokers and employers operate today – giving them time back to focus on the core of their business.”


New billing capabilities automatically align premiums with coverage using current enrollment data, reducing reconciliation work and giving brokers greater confidence in billing accuracy. Unum also developed an automated eligibility* solution, eliminating manual file feeds and supporting easier onboarding and claims administration through a consistent, connected experience.


The expansion also enables easier leave management outsourcing by automating eligibility data between Employee Navigator and Unum Total Leave. This solution helps growing employers gain efficiency and reliable support as leave management becomes more complex.


Together, these expanded capabilities build on Unum’s long-standing partnership with Employee Navigator and reinforce a shared commitment to innovation that delivers practical value. The result is a more connected experience that helps brokers spend less time managing administration and more time supporting their clients’ needs.


*The eligibility and billing functionalities referenced are Unum-developed capabilities. While integrated with third-party benefits administration platform, Employee Navigator, the solutions themselves are designed, built, and supported by Unum.


ABOUT UNUM GROUP


Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2025, Unum Group reported revenues of $13.1 billion and paid $8.3 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®.


Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260324862598/en/
MEDIA

Emily Downing-Baer

edowning@unum.com


Original: Unum Expands Broker Connect Partnership With Employee Navigator

Unum Group to Present at the UBS Financial Services ConferenceJanuary 28, 2026 5:00 PM
Business Wire
Unum Group’s (NYSE: UNM) President & CEO, Rick McKenney, along with EVP and CFO, Steve Zabel, will represent the company at the UBS Financial Services Conference.


McKenney and Zabel are scheduled to speak at the conference at 2:40 p.m. ET on Monday, February 9, 2026. They will discuss the company’s business strategy and future growth prospects. A live audio webcast of the presentation will be available on the Investors section of Unum’s website, www.investors.unum.com, on the News and Events page.


ABOUT UNUM


Unum Group (NYSE: UNM), a leading international provider of workplace benefits and services, has been helping workers and their families thrive for more than 175 years. Through its Unum and Colonial Life brands, the company offers disability, life, accident, critical illness, dental, and vision insurance; leave and absence management support; and behavioral health services. In 2024, Unum Group reported revenues of $12.9 billion and paid $8.0 billion in benefits. The Fortune 500 company is recognized as one of the World’s Most Ethical Companies by Ethisphere®.


Visit the Unum newsroom for more information, and connect with us on LinkedIn, Facebook, and Instagram.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260128321425/en/
MEDIA

Emily Downing-Baer

edowning@unum.com


INVESTORS

Matt Royal

investorrelations@unum.com


Original: Unum Group to Present at the UBS Financial Services Conference

BREAKING NEWS: $UNM S&P 500 Falls as Amazon Stock Leads Megacap Market Crash

Today was better than yesterday for the  S&P 500 (SNPINDEX: ^GSPC) index, which finished better than it looked for most of the trading day. The index closed down 28 points, or 0.81%, but was down more than 2% for most of morning trading. A late-day rally actually had the index of the...

Find out more UNM - S&P 500 Falls as Amazon Stock Leads Megacap Market Crash

Is anyone still watching this board? I've been steadily accumulating UNM, but can't figure out why it's still priced to yield a 6%+ dividend.

I used to work at unum. I personally would not consider moving back in until the low teens. Good divy though to offset volatility.