Products & Liabilities
· Source: curated SEC 10-K filing analysis· 10 of 66 tables shown
Confidence:HighMediumLow
| Segment | Product Focus | Status | FY2025 Premium ($M) | % of Total | Assets ($M) | % of Total Assets |
|---|---|---|---|---|---|---|
| Unum US | Group disability, group life, voluntary benefits, individual disability | Active/Growing | 7,083.5 | 65.4% | 14,635.3 | 23.0% |
| Unum International | UK group income protection, UK group life, UK supplemental, Poland | Active/Growing | 1,082.8 | 10.0% | 3,648.0 | 5.7% |
| Colonial Life | Voluntary worksite (accident, disability, life, cancer/CI) | Active/Growing | 1,839.1 | 17.0% | 5,289.9 | 8.3% |
| Closed Block | Legacy LTC, legacy individual disability, group pension, other | Run-off | 825.6 | 7.6% | 33,887.8 | 53.3% |
| Corporate | Holding company | N/A | — | — | 6,058.4 | 9.5% |
| Total | 10,831.0 | 100.0% | 63,519.4 | 100.0% |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Group long-term disability income replacement | High |
| Liability Type | FPB (future policy benefits) | High |
| FPB (Dec 31, 2025) | $4,588.1M net + $0.2M other = $4,588.3M gross; $34.6M ceded; $4,553.7M net after reinsurance | High |
| FY2025 Premium Income | $2,011.1M | High |
| FY2024 Premium Income | $2,086.1M | High |
| FY2023 Premium Income | $2,057.2M | High |
| Premium Trend | Slightly declining (-3.6% YoY) — likely reflects competitive pricing pressure | Medium |
| Risk Types | Morbidity (claim incidence and duration), mortality, interest rate (long-tail reserves) | Medium |
| Distribution Channel | Employer-sponsored, sold through brokers and benefit consultants | Medium |
| Status | Active — core product | High |
| Discount Rate | 4.3% accretion / 4.4% current | High |
| Duration | 4.0 years weighted average | High |
| Undiscounted Future Benefits | $5,634.4M | High |
| Key Trend | Favorable claim recovery trends — consistently cited in 2023-2025 assumption reviews. FPB declined from prior year levels. | High |
| STAT-Only Reinsurance | 90% QS coinsurance w/ funds withheld + modco — does NOT meet GAAP risk transfer | High |
| GAAP Reinsurance | Minimal — $34.6M ceded FPB (0.8% cession rate) | High |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Group short-term disability income replacement | High |
| Liability Type | FPB (included within Group Disability totals) | Medium |
| FY2025 Premium Income | $1,138.4M | High |
| FY2024 Premium Income | $1,084.0M | High |
| FY2023 Premium Income | $1,012.3M | High |
| Premium Trend | Growing (+5.0% YoY, +12.5% over 2 years) | High |
| Risk Types | Morbidity (short-duration), seasonality | Medium |
| Distribution Channel | Employer-sponsored, sold through brokers and benefit consultants | Medium |
| Status | Active — growing product | High |
| Duration | Short-tail (typically 3-6 month benefit period) | Medium |
| Reinsurance | Minimal GAAP reinsurance; included in Group Disability STAT-only QS arrangements | Medium |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Group term life insurance (employer-sponsored) | High |
| Liability Type | FPB | High |
| FPB (Dec 31, 2025) | $801.6M net + $1.0M other = $802.6M gross; $7.3M ceded; $795.3M net after reinsurance | High |
| FY2025 Premium Income | $1,871.1M | High |
| FY2024 Premium Income | $1,784.7M | High |
| FY2023 Premium Income | $1,679.0M | High |
| Premium Trend | Strongly growing (+4.8% YoY, +11.4% over 2 years) | High |
| Risk Types | Mortality, catastrophe (concentration risk) | Medium |
| Distribution Channel | Employer-sponsored, sold through brokers and benefit consultants | Medium |
| Status | Active — growing product | High |
| Discount Rate | 2.4% accretion / 2.5% current | High |
| Duration | 2.3 years weighted average (short duration — annually renewable) | High |
| Undiscounted Future Benefits | $910.7M | High |
| Retention | $1.0M per covered life (consistent for 2025 and 2026) | High |
| GAAP Reinsurance | Minimal — $7.3M ceded FPB (0.9% cession rate) | High |
| STAT-Only Reinsurance | 5 group life agreements covering ~65% of risk up to per-person retention limit — STAT-only, do not meet GAAP risk transfer | High |
| Life Insurance in Force | Included in total $1,268,446.9M net life insurance in force | Medium |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Group AD&D coverage | High |
| Liability Type | FPB (included in Group Life & AD&D totals) | Medium |
| FY2025 Premium Income | $195.6M | High |
| FY2024 Premium Income | $186.1M | High |
| FY2023 Premium Income | $175.5M | High |
| Premium Trend | Growing (+5.1% YoY) | High |
| Risk Types | Accidental death, accidental injury (event-driven) | Medium |
| Distribution Channel | Employer-sponsored, often bundled with group life | Medium |
| Status | Active — growing product | High |
| Duration | Short (annually renewable) | Medium |
| Reinsurance | Included in Group Life & AD&D ceded totals ($7.3M combined) | Medium |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Employer-sponsored voluntary benefits (employee-paid) — includes voluntary life, voluntary disability, voluntary accident, and other supplemental products | High |
| Liability Type | FPB + PAB | High |
| FPB (Dec 31, 2025) | $1,142.6M net + $2.6M other = $1,145.2M gross; $14.0M ceded; $1,131.2M net after reinsurance | High |
| PAB (Dec 31, 2025) | $665.7M (includes $548.4M account balance + $117.3M reserves in excess) | High |
| FY2025 Premium Income | $927.4M | High |
| FY2024 Premium Income | $879.2M | High |
| FY2023 Premium Income | $850.1M | High |
| Premium Trend | Growing (+5.5% YoY, +9.1% over 2 years) | High |
| Risk Types | Morbidity, mortality, lapse, interest rate (for UL-type products within PAB) | Medium |
| Distribution Channel | Employer-sponsored worksite enrollment (employee-paid/voluntary) | Medium |
| Status | Active — growing product | High |
| PAB Crediting Rate | 3.6% weighted average (Dec 31, 2025) | High |
| Net Amount at Risk (PAB) | $3,735.5M (Dec 31, 2025) | High |
| Cash Surrender Value (PAB) | $538.4M (Dec 31, 2025) | High |
| Discount Rate (FPB) | 5.0% accretion / 5.5% current | High |
| Duration (FPB) | 18.1 years weighted average | High |
| Undiscounted Future Benefits | $5,838.3M | High |
| Undiscounted Future Gross Premiums | $6,205.6M | High |
| GAAP Reinsurance | $14.0M ceded FPB (1.2% cession rate); $0.8M PAB ceded | High |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Non-cancelable and guaranteed renewable individual disability income protection | High |
| Liability Type | FPB | High |
| FPB (Dec 31, 2025) | $1,523.6M net + $27.8M other = $1,551.4M gross; $220.3M ceded; $1,331.1M net after reinsurance | High |
| FY2025 Premium Income | $615.1M | High |
| FY2024 Premium Income | $566.0M | High |
| FY2023 Premium Income | $527.0M | High |
| Premium Trend | Strongly growing (+8.7% YoY, +16.7% over 2 years) — fastest-growing Unum US product line | High |
| Risk Types | Morbidity (claim incidence and duration), mortality, lapse, interest rate (long-tail) | Medium |
| Distribution Channel | Independent agents, financial advisors, multi-life employer arrangements | Medium |
| Status | Active — growing product (distinct from Closed Block legacy IDI) | High |
| Discount Rate | 5.2% accretion / 4.9% current | High |
| Duration | 9.4 years weighted average | High |
| Undiscounted Future Benefits | $5,070.0M | High |
| Undiscounted Future Gross Premiums | $5,823.7M | High |
| Fortitude Re Cession (2025) | ~15% of IDI FPB ceded; $305.3M ceded reserves at inception; deferred gain of $145.9M (20-year amortization) | High |
| STAT-Only Reinsurance (2025) | 30% coinsurance w/ funds withheld + experience refund — new in 2025, does NOT meet GAAP risk transfer | High |
| Key Trend | Favorable claim incidence and recovery trends (2025 assumption update). Capped cohorts have immaterial impact. | High |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Group dental and vision benefits | High |
| Liability Type | Unearned premiums / short-tail claims reserves | Medium |
| FY2025 Premium Income | $324.8M | High |
| FY2024 Premium Income | $297.1M | High |
| FY2023 Premium Income | $278.1M | High |
| Premium Trend | Growing (+9.3% YoY, +16.8% over 2 years) — second-fastest growth in Unum US | High |
| Risk Types | Dental/vision utilization (short-tail morbidity) | Medium |
| Distribution Channel | Employer-sponsored, sold through brokers and benefit consultants | Medium |
| Status | Active — growing product, relatively newer product line for UNM | High |
| Reinsurance | Minimal or none (short-tail, predictable claims) | Low |
| Product Line | FY2025 Premium ($M) | % of Segment | FPB ($M) | PAB ($M) | Status | 3-Year CAGR |
|---|---|---|---|---|---|---|
| Group LTD | 2,011.1 | 28.4% | 4,588.3 | — | Active | -1.1% |
| Group STD | 1,138.4 | 16.1% | (incl. in Group Disability) | — | Active | +6.1% |
| Group Life | 1,871.1 | 26.4% | 802.6 | — | Active | +5.6% |
| AD&D | 195.6 | 2.8% | (incl. in Group Life) | — | Active | +5.6% |
| Voluntary Benefits | 927.4 | 13.1% | 1,145.2 | 665.7 | Active | +4.5% |
| Individual Disability | 615.1 | 8.7% | 1,551.4 | — | Active | +8.0% |
| Dental and Vision | 324.8 | 4.6% | — | — | Active | +8.1% |
| Unum US Total | 7,083.5 | 100.0% | 8,087.5 | 665.7 | +3.8% |
| Attribute | Detail | Confidence |
|---|---|---|
| Product Type | Group income protection (UK terminology for group LTD) | High |
| Liability Type | FPB | High |
| FY2025 Premium Income | $427.5M | High |
| FY2024 Premium Income | $418.0M | High |
| FY2023 Premium Income | $396.1M | High |
| Premium Trend | Growing (+2.3% YoY, +7.9% over 2 years) — steady growth, partially currency-influenced | High |
| Risk Types | Morbidity, mortality, interest rate, currency (GBP/USD) | Medium |
| Distribution Channel | UK employer-sponsored, sold through employee benefits consultants and intermediaries | Medium |
| Status | Active — core UK product | High |
| Reinsurance | Minimal GAAP reinsurance on disability lines; catastrophe coverage via intercompany arrangement with Unum America | Medium |