Unum Group (NYSE: UNMA)

Unum Group, a Delaware general business corporation, and its insurance and non-insurance subsidiaries operate as a leading provider of financial protection benefits in the United States and the United Kingdom. The Company markets its products primarily through the workplace and offers a broad portfolio including disability, life, accident, critical illness, dental and vision, and other related services. Its core activities involve issuing insurance policies and providing fee-based services such as leave management and administrative support to employers and employees. Unum Group helps employers attract and retain talent while protecting the financial stability of workers and their families against the economic impact of illness, injury, or loss of life.

Unum Group generates revenue primarily through premium income from its insurance products and fee-based services. The Company earns premiums from group and individual disability, life, accidental death and dismemberment, voluntary benefits, dental and vision, and long-term care insurance. Additionally, it generates revenue from administrative services only (ASO) arrangements and leave management services, where fees are based on the number of covered employees and agreed-upon per-employee per-month rates. Revenue is derived from employers who purchase benefits for their workforce and from individuals who enroll in voluntary or supplemental products through payroll deduction or direct billing.

The company operates through the following segments: Unum US, Unum International, Colonial Life, Closed Block, and Corporate.

• Unum US. This segment comprises group disability, group life and accidental death and dismemberment, and supplemental and voluntary lines of business. Group disability includes long-term and short-term disability and medical stop-loss products. Supplemental and voluntary benefits include individual disability, dental and vision, accident, critical illness, and hospital indemnity products. These products are issued primarily by Unum Life Insurance Company of America, Provident Life and Accident Insurance Company, Starmount Life Insurance Company, and Unum Insurance Company and are marketed through field sales personnel working with independent brokers and consultants.

• Unum International. This segment includes operations in the United Kingdom and Poland. In the UK, it offers group long-term disability, group life, and supplemental products such as dental and critical illness. In Poland, it provides individual and group life insurance with accident and health riders. Products are sold through field sales personnel and independent brokers and consultants with a focus on expanding employer and employee coverage in the UK and growing the Polish business.

• Colonial Life. This segment includes accident, sickness and disability, life, and cancer and critical illness product lines. Products are issued primarily by Colonial Life & Accident Insurance Company and marketed to employees on both group and individual bases at the workplace through an independent contractor agent sales force and brokers. The segment focuses on delivering voluntary products in the public and commercial sectors, with a core market of accounts having fewer than 1,000 employees.

• Closed Block. This segment consists of group and individual long-term care and other insurance products no longer actively marketed. As of 2025, approximately 81 percent of its premium income came from group and individual long-term care, with the remainder from other insurance products such as individual disability, group pension, and corporate-owned life insurance. The segment manages existing policies but does not market new enrollments for long-term care products after discontinuing individual long-term care in 2009 and group long-term care in 2012.

• Corporate. This segment includes investment income on corporate assets not allocated to a specific line of business, interest expense on corporate debt, and other corporate income and expenses not attributable to any operating segment. It supports the overall financial structure of the Company but does not engage in direct insurance underwriting or product marketing.

Unum Group holds a leading position in the employee benefits market in the United States and the United Kingdom, competing with major national insurers and regional specialty providers. The Company differentiates itself through its integrated product offerings, strong financial strength ratings, deep integration with human capital management systems, and expertise in claims management and customer service. Its ability to provide tailored solutions for compliance with evolving regulations such as family medical leave benefits further strengthens its competitive advantage in a market where persistency and employer relationships are critical.

Unum Group serves employers of all sizes across various industries who seek to offer financial protection benefits to their workforce. The Company also serves individual employees who enroll in voluntary or supplemental products through workplace payroll deduction or direct enrollment. Its customers include businesses in the public and private sectors, particularly those with smaller to mid-sized employee groups, as well as individuals seeking portable disability, life, accident, or critical illness coverage.