Unum (UNM) investor relations material

Executive summary

• Net income for Q1 2026 was $232.0 million ($1.41 per diluted share), up from $189.1 million ($1.06 per share) in Q1 2025, with after-tax adjusted operating income of $352.5 million ($2.14 per share), up from $348.8 million ($1.95 per share) year-over-year, driven by higher operating income and lower investment losses.

• Delivered a strong start to 2026 with robust execution, top and bottom-line growth, and effective capital deployment.

• Sales grew 14.4% and premium income rose 3.9% on a constant currency basis, reflecting strong customer demand and retention.

• Colonial Life and Group Life achieved record earnings, while Group Disability remained strong.

• Continued investment in technology and digital platforms enhanced customer engagement and persistency.

Financial highlights

• Total revenue for Q1 2026 was $3,355.2 million, up from $3,091.6 million in Q1 2025, with premium income at $2,794.0 million and net investment income at $483.4 million.

• After-tax adjusted operating EPS of $2.14, up nearly 10% year-over-year.

• U.S. group earnings exceeded $220 million with high ROE; Unum U.S. before-tax earnings were $338 million and ROE 25%.

• Colonial Life segment posted record adjusted operating income of $127.8 million, ROE of 19.2%.

• Group Life and AD&D adjusted operating income was $115.1 million, benefit ratio improved to 61.8%.

Outlook and guidance

• 2026 outlook reaffirmed: 4%-7% top-line growth, 8%-12% EPS growth, attractive ROE, and strong capital generation.

• Full-year 2026 after-tax adjusted operating income per share is projected at $8.60–$8.90, representing 8–12% growth over 2025.

• Management expects earnings growth in core operations for 2026, with strong premium growth anticipated.

• Sales pipelines are building, and digital customer connections are deepening.

• Guidance range for the year remains unchanged despite some segment variances in Q1.