Unum Group

unum.com

What Do They Do?

Provides disability, life, and other workplace insurance benefits to employers and employees.

How Do They Make Money?

Policyholders pay premiums for life and accident-and-health insurance when due; experience-rated premiums are spread across the contract period. Employers pay fees for leave-management and claims-administration services as those services are delivered.

revenue

Segment	Share	How money arrives
Unum US Recurring	30% FY2022: 32%	Recurring
Unum International Recurring	7.2% FY2022: 8.0%	Recurring
Colonial Life Recurring	8.5% FY2022: 7.2%	Recurring
Closed Block Recurring	50% FY2022: 50%	Recurring
Corporate and Other Segment	4.6% FY2022: 2.5%

Who Are Their Customers?

Employers buy group insurance through company field sales staff working with independent brokers and consultants; employees can obtain voluntary coverage through workplace payroll deduction.

Do Revenues Turn Into Profits?

Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 4 cents into free cash flow.

Net income, FY2025

6% of revenue

▼ −58% vs FY2024 ($1.8B, 14%)

Free cash flow, FY2025

4% of revenue

▼ −60% vs FY2024 ($1.4B, 11%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▲ 0%; vs $3.4B in Q2 FY2025
Net income: ▼ −23%; vs $335.6M in Q2 FY2025

Jul 6, 2026 Unum agreed to reinsure individual long-term care policies The agreement would cede a block of individual long-term care policies to Fortitude Re; Unum would retain administration.

Growing. Revenue grew 9% in 4 years, from $12B in FY2021 to $13.1B in FY2025, about 2% a year.

Medical stop-loss coverage Unum previously offered medical stop-loss coverage for self-insured employers; the latest report says it stopped marketing the product and had no policies in force.

Revenue over time

Unum US Unum International Colonial Life Closed Block Corporate and Other Segment

$2.5B$1.3B$0

FY2021 FY2022 FY2023 FY2024 FY2025

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