Unum Group (UNM) investor relations material

Business performance and outlook

• Strong performance in core group benefits, with U.S. business sales growth in the teens and Colonial Life gaining momentum.

• Top-line margins remain solid; U.K. business performing well but undergoing repricing to improve returns.

• Capital generation is robust, with guidance for the year in the $8.60–$8.90 range.

• Continued focus on risk reduction in long-term care through organic actions and reinsurance transactions.

• Growth expected to continue through 2027, with key focus on third and fourth quarter performance.

Technology and operational investments

• Over 70% of U.S. business now features digital connections added since 2023, supporting persistency and customer experience.

• Ongoing investment in digital platforms like HR Connect and leave management, with iterative improvements over 7–8 years.

• Expense ratio rose post-pandemic due to tech and people investments but has since stabilized and is expected to improve.

• Technology investments are ongoing but productivity gains are helping manage costs.

Market and competitive environment

• U.S. group benefits market remains highly competitive but stable, with rational pricing and long-term players.

• Competitive advantage driven by capabilities, relationships, and service rather than just price.

• Customers value pricing stability and service consistency.