EX-99.2 3 unm06302023exhibit992.htm EX-99.2

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Unum Group

Statistical Supplement Second Quarter 2023

 TABLE OF CONTENTS

(in millions of dollars, except share data and where noted)

Interim Results are Unaudited

						Page
			Financial Highlights			1
			Capital Metrics			2
			Ratings			3
			Consolidated Statements of Income			4
			Sales Data by Segment			5
			Consolidated Balance Sheets			6
			Financial Results by Segment			7
			Quarterly Historical Financial Results by Segment			8
			Financial Results and Selected Statistics by Segment
			Unum US			9
			Unum International			10
			Colonial Life			11
			Closed Block			12
			Corporate			13
			Investments			14
			Appendix to Statistical Supplement			15
			See "Appendix to Statistical Supplement" on page 15 for a summary of significant items and page 15.3 for a reconciliation of our non-GAAP financial measures.
			N.M. = not a meaningful percentage

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Unum Group Financial Highlights

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Consolidated U.S. GAAP Results¹
Premium Income			$	2,509.1					$	2,416.0					$	4,968.4					$	4,817.4					$	9,616.5					$	9,475.0
Adjusted Operating Revenue			$	3,111.3					$	3,043.7					$	6,147.3					$	6,038.1					$	11,999.8					$	11,931.1
Net Investment Gain (Loss)			0.9						(4.1)						1.0						(17.9)						(15.7)						76.7
Total Revenue			$	3,112.2					$	3,039.6					$	6,148.3					$	6,020.2					$	11,984.1					$	12,007.8
Net Income			$	392.9					$	367.3					$	751.2					$	607.7					$	1,407.2					$	981.0
Net Income Per Common Share:
Basic			$	1.99					$	1.83					$	3.80					$	3.01					$	7.01					$	4.80
Assuming Dilution			$	1.98					$	1.81					$	3.78					$	2.99					$	6.96					$	4.79
Assets															$	61,904.4					$	63,510.1					$	61,148.5					$	72,292.3
Liabilities															$	52,658.5					$	55,722.3					$	52,413.5					$	66,258.4
Stockholders' Equity															$	9,245.9					$	7,787.8					$	8,735.0					$	6,033.9
Adjusted Stockholders' Equity															$	12,041.7					$	10,843.0					$	11,459.1					$	10,528.4
Adjusted Operating Return on Equity
Unum US			24.3		%				20.3		%				22.3		%				16.0		%				16.7		%				7.3		%
Unum International			18.2		%				23.3		%				17.5		%				19.5		%				21.4		%				10.8		%
Colonial Life			21.5		%				18.5		%				19.5		%				19.3		%				22.5		%				21.1		%
Core Operating Segments			22.9		%				20.2		%				21.1		%				17.2		%				18.6		%				11.0		%
Consolidated			13.8		%				14.5		%				13.3		%				12.4		%				12.4		%				9.2		%

Traditional U.S. Life Insurance Companies' Statutory Results2
Net Gain from Operations, After Tax			$	313.7					$	281.3					$	589.9					$	481.8					$	965.4					$	681.1
Net Realized Capital Gain (Loss), After Tax			(0.5)						0.2						(0.5)						(2.2)						—						98.4
Net Income			$	313.2					$	281.5					$	589.4					$	479.6					$	965.4					$	779.5
Capital and Surplus															$	4,201.5					$	4,136.5					$	3,816.3					$	3,950.3
Weighted Average Risk-based Capital Ratio															~ 450%						~ 415%						~ 420%						~ 395%

1 Generally Accepted Accounting Principles

2 Our traditional U.S. life insurance companies are Provident Life and Accident Insurance Company, Unum Life Insurance Company of America, The Paul Revere Life Insurance Company, Colonial Life & Accident Insurance Company, Provident Life and Casualty Insurance Company, First Unum Life Insurance Company, Unum Insurance Company, and Starmount Life Insurance Company.

1

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Unum Group Capital Metrics

			6/30/2023												6/30/2022												12/31/2022												12/31/2021
			(in millions)						per share						(in millions)						per share						(in millions)						per share						(in millions)						per share
															As Adjusted
Total Stockholders' Equity (Book Value)			$	9,245.9					$	47.06					$	7,787.8					$	38.89					$	8,735.0					$	44.17					$	6,033.9					$	29.79
Excluding:
Net Unrealized Gain (Loss) on Securities			(2,762.6)						(14.06)						(1,560.4)						(7.79)						(3,028.4)						(15.31)						4,014.4						19.82
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits			0.1						—						(1,541.2)						(7.70)						313.9						1.59						(8,570.7)						(42.32)
Net Gain (Loss) on Hedges			(33.3)						(0.17)						46.4						0.23						(9.6)						(0.05)						61.8						0.30
Subtotal			12,041.7						61.29						10,843.0						54.15						11,459.1						57.94						10,528.4						51.99
Excluding:
Foreign Currency Translation Adjustment			(327.1)						(1.67)						(367.5)						(1.84)						(390.1)						(1.98)						(274.1)						(1.35)
Subtotal			12,368.8						62.96						11,210.5						55.99						11,849.2						59.92						10,802.5						53.34
Excluding:
Unrecognized Pension and Postretirement Benefit Costs			(334.7)						(1.70)						(386.8)						(1.93)						(334.1)						(1.69)						(396.0)						(1.96)
Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Income			$	12,703.5					$	64.66					$	11,597.3					$	57.92					$	12,183.3					$	61.61					$	11,198.5					$	55.30
Dividends Paid			$	134.4					$	0.66					$	123.4					$	0.60					$	255.3					$	1.26					$	240.6					$	1.17

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
Shares Repurchased (millions)			1.1						1.8						2.4						3.1						5.7						1.9
Cost of Shares Repurchased (millions)1			$	47.0					$	57.4					$	100.6					$	94.9					$	200.1					$	50.0
Price (UNM closing price on last trading day of period)															$	47.70					$	34.02					$	41.03					$	24.57
Leverage Ratio2															22.5		%				24.5		%				23.4		%				25.1		%
Holding Company Liquidity (millions)															$	1,072					$	1,177					$	1,571					$	1,515

1Includes $0.1 million of commissions for the three and six months ended June 30, 2023, $0.1 million of commission for the three and six months ended June 30, 2022, and $0.1 million for the year ended December 21, 2022. There was $0.4 million and $0.5 million of excise tax for the three and six months ended June 30, 2023, respectively. There were no excise taxes during the three and six months ended June 30, 2022 and years ended December 31, 2022 and 2021.

2Prior period ratios have been adjusted.

2

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Unum Group Ratings

AM Best

Fitch

Moody's

S&P

Issuer Credit Ratings

bbb

BBB-

Baa3

BBB

Financial Strength Ratings

Provident Life and Accident Insurance Company

A

A-

A3

A

Provident Life and Casualty Insurance Company

A

A-

NR

NR

Unum Life Insurance Company of America

A

A-

A3

A

First Unum Life Insurance Company

A

A-

A3

A

Colonial Life & Accident Insurance Company

A

A-

A3

A

The Paul Revere Life Insurance Company

A

A-

A3

A

Starmount Life Insurance Company

A

NR

NR

NR

Unum Insurance Company

A

A-

A3

NR

Unum Limited

NR

NR

NR

A-

Outlooks

Issuer Credit Rating

Positive

Positive

Stable

Stable

Financial Strength Rating

Stable

Positive

Stable

Stable

NR = not rated

3

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Unum Group Consolidated Statements of Income

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Revenue
Premium Income			$	2,509.1					$	2,416.0					$	4,968.4					$	4,817.4					$	9,616.5					$	9,475.0
Net Investment Income			531.1						559.0						1,039.9						1,086.2						2,122.2						2,213.2
Net Investment Gain (Loss)			0.9						(4.1)						1.0						(17.9)						(15.7)						76.7
Other Income			71.1						68.7						139.0						134.5						261.1						242.9
Total Revenue			3,112.2						3,039.6						6,148.3						6,020.2						11,984.1						12,007.8
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			1,753.6						1,800.1						3,490.0						3,714.3						6,994.6						7,553.3
Commissions			286.1						274.4						580.0						547.6						1,086.4						1,038.1
Interest and Debt Expense			48.9						47.4						97.0						94.3						188.5						185.0
Cost Related to Early Retirement of Debt			—						—						—						—						4.2						67.3
Deferral of Acquisition Costs			(156.5)						(137.9)						(314.2)						(279.7)						(556.9)						(523.2)
Amortization of Deferred Acquisition Costs			113.7						106.5						229.6						210.1						421.1						452.1
Other Expenses			568.0						509.9						1,116.2						998.7						2,096.2						1,974.6
Total Benefits and Expenses			2,613.8						2,600.4						5,198.6						5,285.3						10,234.1						10,747.2
Income Before Income Tax			498.4						439.2						949.7						734.9						1,750.0						1,260.6
Income Tax Expense			105.5						71.9						198.5						127.2						342.8						279.6
Net Income			$	392.9					$	367.3					$	751.2					$	607.7					$	1,407.2					$	981.0
Weighted Average Shares Outstanding
Basic			197.2						201.2						197.6						201.9						200.6						204.2
Assuming Dilution			198.1						202.4						198.8						203.0						202.1						204.8
Actual Number of Shares Outstanding															196.5						200.2						197.8						202.5

4

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Unum Group Sales Data for Unum US Segment

			Three Months Ended																		Six Months Ended																		Year Ended
			6/30/2023						6/30/2022						% Change						6/30/2023						6/30/2022						% Change						12/31/2022						12/31/2021
Sales by Product
Group Disability and Group Life and AD&D
Group Long-term Disability			$	65.6					$	63.2					3.8		%				$	119.5					$	103.8					15.1		%				$	295.3					$	206.6
Group Short-term Disability			49.6						36.3						36.6						86.6						64.1						35.1						184.3						142.7
Group Life and AD&D			88.6						77.0						15.1						127.7						110.6						15.5						232.4						223.8
Subtotal			203.8						176.5						15.5						333.8						278.5						19.9						712.0						573.1
Supplemental and Voluntary
Voluntary Benefits			62.6						54.0						15.9						173.5						148.3						17.0						238.7						231.2
Individual Disability			28.7						18.7						53.5						55.4						39.0						42.1						90.8						75.0
Dental and Vision			19.5						12.9						51.2						28.5						22.1						29.0						73.8						62.4
Subtotal			110.8						85.6						29.4						257.4						209.4						22.9						403.3						368.6
Total Sales			$	314.6					$	262.1					20.0						$	591.2					$	487.9					21.2						$	1,115.3					$	941.7
Sales by Market Sector
Group Disability and Group Life and AD&D
Core Market (< 2,000 employees)			$	105.3					$	104.2					1.1		%				$	189.3					$	169.8					11.5		%				$	457.5					$	371.5
Large Case Market			98.5						72.3						36.2						144.5						108.7						32.9						254.5						201.6
Subtotal			203.8						176.5						15.5						333.8						278.5						19.9						712.0						573.1
Supplemental and Voluntary			110.8						85.6						29.4						257.4						209.4						22.9						403.3						368.6
Total Sales			$	314.6					$	262.1					20.0						$	591.2					$	487.9					21.2						$	1,115.3					$	941.7

5

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Unum Group Sales Data for Unum International Segment

			Three Months Ended																		Six Months Ended																		Year Ended
(in millions of dollars)			6/30/2023						6/30/2022						% Change						6/30/2023						6/30/2022						% Change						12/31/2022						12/31/2021
Sales by Product
Unum UK
Group Long-term Disability			$	20.9					$	13.2					58.3		%				$	30.1					$	28.8					4.5		%				$	43.3					$	41.4
Group Life			23.1						12.6						83.3						39.3						20.9						88.0						55.5						31.3
Supplemental			8.3						6.4						29.7						20.2						12.3						64.2						17.1						17.0
Unum Poland			8.3						3.6						130.6						16.8						8.0						110.0						17.8						16.1
Total Sales			$	60.6					$	35.8					69.3						$	106.4					$	70.0					52.0						$	133.7					$	105.8
Sales by Market Sector
Unum UK
Group Long-term Disability and Group Life
Core Market (< 500 employees)			$	16.0					$	11.4					40.4		%				$	28.5					$	23.5					21.3		%				$	42.7					$	41.5
Large Case Market			28.0						14.4						94.4						40.9						26.2						56.1						56.1						31.2
Subtotal			44.0						25.8						70.5						69.4						49.7						39.6						98.8						72.7
Supplemental			8.3						6.4						29.7						20.2						12.3						64.2						17.1						17.0
Unum Poland			8.3						3.6						130.6						16.8						8.0						110.0						17.8						16.1
Total Sales			$	60.6					$	35.8					69.3						$	106.4					$	70.0					52.0						$	133.7					$	105.8
(in millions of pounds)
Unum UK Sales by Product
Group Long-term Disability			£	16.8					£	10.5					60.0		%				£	24.3					£	22.1					10.0		%				£	34.5					£	30.0
Group Life			18.5						10.0						85.0						31.8						16.2						96.3						45.4						22.8
Supplemental			6.6						5.0						32.0						16.4						9.4						74.5						13.5						12.3
Total Sales			£	41.9					£	25.5					64.3						£	72.5					£	47.7					52.0						£	93.4					£	65.1
Unum UK Sales by Market Sector
Group Long-term Disability and Group Life
Core Market (< 500 employees)			£	12.9					£	9.1					41.8		%				£	23.1					£	18.0					28.3		%				£	34.4					£	30.2
Large Case Market			22.4						11.4						96.5						33.0						20.3						62.6						45.5						22.6
Subtotal			35.3						20.5						72.2						56.1						38.3						46.5						79.9						52.8
Supplemental			6.6						5.0						32.0						16.4						9.4						74.5						13.5						12.3
Total Sales			£	41.9					£	25.5					64.3						£	72.5					£	47.7					52.0						£	93.4					£	65.1

5. 1

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Unum Group Sales Data for Colonial Life Segment

			Three Months Ended																		Six Months Ended																		Year Ended
			6/30/2023						6/30/2022						% Change						6/30/2023						6/30/2022						% Change						12/31/2022						12/31/2021
Sales by Product
Accident, Sickness, and Disability			$	74.9					$	73.0					2.6		%				$	141.4					$	138.6					2.0		%				$	310.6					$	297.9
Life			30.2						28.7						5.2						56.4						52.5						7.4						121.5						111.0
Cancer and Critical Illness			16.9						16.5						2.4						31.0						31.1						(0.3)						76.0						70.9
Total Sales			$	122.0					$	118.2					3.2						$	228.8					$	222.2					3.0						$	508.1					$	479.8
Sales by Market Sector
Commercial
Core Market (< 1,000 employees)			$	81.0					$	79.3					2.1		%				$	154.4					$	152.0					1.6		%				$	332.4					$	313.2
Large Case Market			11.7						13.5						(13.3)						21.8						25.6						(14.8)						58.1						68.5
Subtotal			92.7						92.8						(0.1)						176.2						177.6						(0.8)						390.5						381.7
Public Sector			29.3						25.4						15.4						52.6						44.6						17.9						117.6						98.1
Total Sales			$	122.0					$	118.2					3.2						$	228.8					$	222.2					3.0						$	508.1					$	479.8

5. 2

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Unum Group Consolidated Balance Sheets

			June 30						December 31
			2023						2022
									As Adjusted
Assets
Investments
Fixed Maturity Securities - at fair value			$	35,374.1					$	34,840.8
Mortgage Loans			2,372.8						2,435.4
Policy Loans			3,493.3						3,601.2
Other Long-term Investments			1,503.2						1,440.1
Short-term Investments			1,652.8						1,394.8
Total Investments			44,396.2						43,712.3
Other Assets
Cash and Bank Deposits			108.3						119.2
Accounts and Premiums Receivable			1,605.5						1,482.1
Reinsurance Recoverable			9,383.1						9,608.0
Accrued Investment Income			715.1						615.0
Deferred Acquisition Costs			2,647.2						2,560.0
Goodwill			349.7						347.6
Property and Equipment			460.0						451.7
Deferred Income Tax			582.9						586.0
Other Assets			1,656.4						1,666.6
Total Assets			$	61,904.4					$	61,148.5

6

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Unum Group Consolidated Balance Sheets - Continued

			June 30						December 31
			2023						2022
									As Adjusted
Liabilities and Stockholders' Equity
Liabilities
Future Policy Benefits1			$	38,945.3					$	38,577.1
Policyholders' Account Balances1			5,692.4						5,740.2
Unearned Premiums			494.7						365.5
Other Policyholders’ Funds			1,701.5						1,750.4
Income Tax Payable			179.1						190.9
Deferred Income Tax			23.9						25.2
Short-term Debt			2.0						2.0
Long-term Debt			3,429.1						3,427.8
Other Liabilities			2,190.5						2,334.4
Total Liabilities			52,658.5						52,413.5
Stockholders’ Equity
Common Stock			30.9						30.8
Additional Paid-in Capital			2,444.9						2,441.0
Accumulated Other Comprehensive Loss			(3,457.6)						(3,448.3)
Retained Earnings			13,758.1						13,141.3
Treasury Stock - at cost			(3,530.4)						(3,429.8)
Total Stockholders’ Equity			9,245.9						8,735.0
Total Liabilities and Stockholders’ Equity			$	61,904.4					$	61,148.5
1We previously reported Policy and Contract Benefits and Reserves for Future Policy Benefits in our consolidated balance sheet for December 31, 2022. As a part of the adoption of ASU 2018-12, these balances were reclassified into new line items, Future Policy Benefits and Policyholders' Account Balances. Certain prior year amounts have been reclassified to conform to current year presentation.

6. 1

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Unum Group Balance Sheets by Segment - June 30, 2023

			Unum US
			Group Disability						Group Life and Accidental Death & Dismemberment						Supplemental and Voluntary						Total Unum US						Unum International						Colonial Life						Closed Block						Corporate						Consolidated
Assets
Investments			$	6,636.7					$	2,090.3					$	4,587.1					$	13,314.1					$	2,686.6					$	3,121.8					$	22,825.9					$	2,447.8					$	44,396.2
Deferred Acquisition Costs			65.5						49.9						1,096.6						1,212.0						42.9						1,392.3						—						—						2,647.2
Goodwill			8.9						—						271.1						280.0						42.0						27.7						—						—						349.7
Reinsurance Receivable			49.3						12.5						207.1						268.9						112.8						5.0						8,996.4						—						9,383.1
All Other			380.9						242.3						115.0						738.2						430.9						128.1						2,487.5						1,343.5						5,128.2
Total Assets			$	7,141.3					$	2,395.0					$	6,276.9					$	15,813.2					$	3,315.2					$	4,674.9					$	34,309.8					$	3,791.3					$	61,904.4
Liabilities
Future Policy Benefits			$	5,418.2					$	924.2					$	3,220.5					$	9,562.9					$	2,114.1					$	1,951.4					$	25,316.9					$	—					$	38,945.3
Policyholders' Account Balances			—						—						677.2						677.2						—						867.0						4,148.2						—						5,692.4
Unearned Premiums			3.2						6.5						56.1						65.8						243.7						44.8						140.4						—						494.7
Other Policyholders' Funds			35.5						860.7						32.6						928.8						54.1						12.6						706.0						—						1,701.5
Debt			—						—						—						—						—						—						—						3,431.1						3,431.1
All Other			34.6						67.1						197.6						299.3						120.5						58.0						497.7						1,418.0						2,393.5
Total Liabilities			5,491.5						1,858.5						4,184.0						11,534.0						2,532.4						2,933.8						30,809.2						4,849.1						52,658.5
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity			1,607.3						648.1						2,226.4						4,481.8						804.5						1,698.0						5,445.7						(388.3)						12,041.7
Net Unrealized Loss on Securities and Net Unrealized Gain (Loss) on Hedges			(229.6)						(140.4)						(207.7)						(577.7)						(227.3)						(152.5)						(1,168.9)						(669.5)						(2,795.9)
Effect of Change in Discount Rate Assumption on the Liability for Future Policy Benefits			272.1						28.8						74.2						375.1						205.6						195.6						(776.2)						—						0.1
Total Allocated Stockholders' Equity			1,649.8						536.5						2,092.9						4,279.2						782.8						1,741.1						3,500.6						(1,057.8)						9,245.9
Total Liabilities and Allocated Stockholders' Equity			$	7,141.3					$	2,395.0					$	6,276.9					$	15,813.2					$	3,315.2					$	4,674.9					$	34,309.8					$	3,791.3					$	61,904.4

Allocated stockholders' equity is determined on the basis of an internal allocation formula that reflects the volume and risk components of the business and aligns with our target capital levels for regulatory and rating agency purposes. We modify this formula periodically to recognize changes in the views of capital requirements.

6. 2

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Unum Group Balance Sheets by Segment - December 31, 2022 - As Adjusted

			Unum US
			Group Disability						Group Life and Accidental Death & Dismemberment						Supplemental and Voluntary						Total Unum US						Unum International						Colonial Life						Closed Block						Corporate						Consolidated
Assets
Investments			$	7,139.5					$	2,369.9					$	4,516.6					$	14,026.0					$	2,677.2					$	3,126.1					$	22,028.9					$	1,854.1					$	43,712.3
Deferred Acquisition Costs			61.0						49.3						1,074.8						1,185.1						37.0						1,337.9						—						—						2,560.0
Goodwill			8.9						—						271.1						280.0						39.9						27.7						—						—						347.6
Reinsurance Receivable			49.5						10.6						212.1						272.2						83.5						5.2						9,247.1						—						9,608.0
All Other			76.7						341.2						175.1						593.0						291.8						78.1						2,500.6						1,457.1						4,920.6
Total Assets			$	7,335.6					$	2,771.0					$	6,249.7					$	16,356.3					$	3,129.4					$	4,575.0					$	33,776.6					$	3,311.2					$	61,148.5
Liabilities
Future Policy Benefits			$	5,564.4					$	973.5					$	3,172.4					$	9,710.3					$	2,063.3					$	1,858.4					$	24,945.1					$	—					$	38,577.1
Policyholders' Account Balances			—						—						679.6						679.6						—						869.2						4,191.4						—						5,740.2
Unearned Premiums			1.6						6.6						47.6						55.8						130.4						42.7						136.6						—						365.5
Other Policyholders' Funds			32.7						905.6						31.1						969.4						45.9						9.5						725.6						—						1,750.4
Debt			—						—						—						—						—						—						—						3,429.8						3,429.8
All Other			24.4						94.6						207.2						326.2						86.0						54.8						532.6						1,550.9						2,550.5
Total Liabilities			5,623.1						1,980.3						4,137.9						11,741.3						2,325.6						2,834.6						30,531.3						4,980.7						52,413.5
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity			1,668.0						908.4						2,225.8						4,802.2						770.6						1,689.4						5,106.7						(909.8)						11,459.1
Net Unrealized Loss on Securities and Net Gain (Loss) on Hedges			(255.9)						(148.5)						(226.6)						(631.0)						(112.5)						(175.5)						(1,359.3)						(759.7)						(3,038.0)
Effect of Change in Discount Rate Assumption on the Liability for Future Policy Benefits			300.4						30.8						112.6						443.8						145.7						226.5						(502.1)						—						313.9
Total Allocated Stockholders' Equity			1,712.5						790.7						2,111.8						4,615.0						803.8						1,740.4						3,245.3						(1,669.5)						8,735.0
Total Liabilities and Allocated Stockholders' Equity			$	7,335.6					$	2,771.0					$	6,249.7					$	16,356.3					$	3,129.4					$	4,575.0					$	33,776.6					$	3,311.2					$	61,148.5

6. 3

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Unum Group Financial Results by Segment

We measure and analyze our segment performance on the basis of "adjusted operating revenue" and "adjusted operating income" or "adjusted operating loss", which differ from total revenue and income before income tax as presented in our consolidated statements of income due to the exclusion of investment gains or losses, amortization of the cost of reinsurance, and non-contemporaneous reinsurance, as well as certain other items as specified in the following pages. Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for total revenue, income before income tax, or net income.

			Three Months Ended																		Six Months Ended
			6/30/2023						6/30/2022						% Change						6/30/2023						6/30/2022						% Change
									As Adjusted																		As Adjusted
Premium Income
Unum US			$	1,641.4					$	1,571.0					4.5		%				$	3,251.0					$	3,114.0					4.4		%
Unum International			207.9						179.4						15.9						396.5						367.2						8.0
Colonial Life			430.6						427.6						0.7						860.1						858.3						0.2
Closed Block			229.2						238.0						(3.7)						460.8						477.9						(3.6)
			2,509.1						2,416.0						3.9						4,968.4						4,817.4						3.1
Net Investment Income
Unum US			158.0						167.8						(5.8)						315.3						338.8						(6.9)
Unum International			45.8						50.8						(9.8)						76.7						85.3						(10.1)
Colonial Life			38.0						38.7						(1.8)						75.3						76.8						(2.0)
Closed Block			263.9						291.5						(9.5)						521.1						566.3						(8.0)
Corporate			25.4						10.2						149.0						51.5						19.0						171.1
			531.1						559.0						(5.0)						1,039.9						1,086.2						(4.3)
Other Income
Unum US			54.5						50.7						7.5						108.1						97.8						10.5
Unum International			0.1						0.3						(66.7)						0.5						0.5						—
Colonial Life			0.4						0.2						100.0						0.6						0.5						20.0
Closed Block			13.8						16.5						(16.4)						27.3						32.5						(16.0)
Corporate			2.3						1.0						130.0						2.5						3.2						(21.9)
			71.1						68.7						3.5						139.0						134.5						3.3
Total Adjusted Operating Revenue
Unum US			1,853.9						1,789.5						3.6						3,674.4						3,550.6						3.5
Unum International			253.8						230.5						10.1						473.7						453.0						4.6
Colonial Life			469.0						466.5						0.5						936.0						935.6						—
Closed Block			506.9						546.0						(7.2)						1,009.2						1,076.7						(6.3)
Corporate			27.7						11.2						147.3						54.0						22.2						143.2
			$	3,111.3					$	3,043.7					2.2						$	6,147.3					$	6,038.1					1.8

7

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Unum Group Financial Results by Segment - Continued

			Three Months Ended																		Six Months Ended
			6/30/2023						6/30/2022						% Change						6/30/2023						6/30/2022						% Change
									As Adjusted																		As Adjusted
Benefits and Expenses
Unum US			$	1,510.8					$	1,497.6					0.9		%				$	3,018.8					$	3,090.4					(2.3)		%
Unum International			210.3						202.4						3.9						391.8						399.0						(1.8)
Colonial Life			353.5						369.9						(4.4)						726.6						736.1						(1.3)
Closed Block			476.6						482.4						(1.2)						939.0						960.3						(2.2)
Corporate			62.6						48.1						30.1						122.4						99.5						23.0
			2,613.8						2,600.4						0.5						5,198.6						5,285.3						(1.6)
Income (Loss) Before Income Tax and Net Investment Gain (Loss)
Unum US			343.1						291.9						17.5						655.6						460.2						42.5
Unum International			43.5						28.1						54.8						81.9						54.0						51.7
Colonial Life			115.5						96.6						19.6						209.4						199.5						5.0
Closed Block			30.3						63.6						(52.4)						70.2						116.4						(39.7)
Corporate			(34.9)						(36.9)						(5.4)						(68.4)						(77.3)						(11.5)
			497.5						443.3						12.2						948.7						752.8						26.0
Income Tax Expense			105.3						72.9						44.4						198.3						131.4						50.9
Income Before Net Investment Gain (Loss)			392.2						370.4						5.9						750.4						621.4						20.8
Net Investment Gain (Loss) (net of tax expense (benefit) of $0.2; $(1.0); $0.2; $(4.2))			0.7						(3.1)						122.6						0.8						(13.7)						105.8
Net Income			$	392.9					$	367.3					7.0						$	751.2					$	607.7					23.6

7. 1

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Unum Group Quarterly Historical Financial Results by Segment

			6/30/23						3/31/23						12/31/22						9/30/22						6/30/22						3/31/22
															As Adjusted
Premium Income
Unum US			$	1,641.4					$	1,609.6					$	1,580.6					$	1,556.8					$	1,571.0					$	1,543.0
Unum International			207.9						188.6						178.3						173.3						179.4						187.8
Colonial Life			430.6						429.5						420.4						423.3						427.6						430.7
Closed Block			229.2						231.6						230.9						235.5						238.0						239.9
			2,509.1						2,459.3						2,410.2						2,388.9						2,416.0						2,401.4
Net Investment Income
Unum US			158.0						157.3						166.9						170.6						167.8						171.0
Unum International			45.8						30.9						47.8						37.0						50.8						34.5
Colonial Life			38.0						37.3						37.3						38.6						38.7						38.1
Closed Block			263.9						257.2						252.9						251.4						291.5						274.8
Corporate			25.4						26.1						19.5						14.0						10.2						8.8
			531.1						508.8						524.4						511.6						559.0						527.2
Other Income
Unum US			54.5						53.6						49.5						49.0						50.7						47.1
Unum International			0.1						0.4						0.2						0.2						0.3						0.2
Colonial Life			0.4						0.2						0.3						0.3						0.2						0.3
Closed Block			13.8						13.5						12.4						13.1						16.5						16.0
Corporate			2.3						0.2						1.2						0.4						1.0						2.2
			71.1						67.9						63.6						63.0						68.7						65.8
Total Adjusted Operating Revenue
Unum US			1,853.9						1,820.5						1,797.0						1,776.4						1,789.5						1,761.1
Unum International			253.8						219.9						226.3						210.5						230.5						222.5
Colonial Life			469.0						467.0						458.0						462.2						466.5						469.1
Closed Block			506.9						502.3						496.2						500.0						546.0						530.7
Corporate			27.7						26.3						20.7						14.4						11.2						11.0
			$	3,111.3					$	3,036.0					$	2,998.2					$	2,963.5					$	3,043.7					$	2,994.4

8

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Unum Group Quarterly Historical Financial Results by Segment - Continued

			6/30/23						3/31/23						12/31/22						9/30/22						6/30/22						3/31/22
															As Adjusted
Benefits and Expenses
Unum US			$	1,510.8					$	1,508.0					$	1,565.4					$	1,324.8					$	1,497.6					$	1,592.8
Unum International			210.3						181.5						171.2						178.0						202.4						196.6
Colonial Life			353.5						373.1						362.5						289.1						369.9						366.2
Closed Block			476.6						462.4						474.0						461.7						482.4						477.9
Corporate			62.6						59.8						58.2						63.9						48.1						51.4
			2,613.8						2,584.8						2,631.3						2,317.5						2,600.4						2,684.9
Income (Loss) Before Income Tax and Net Investment Gain (Loss)
Unum US			343.1						312.5						231.6						451.6						291.9						168.3
Unum International			43.5						38.4						55.1						32.5						28.1						25.9
Colonial Life			115.5						93.9						95.5						173.1						96.6						102.9
Closed Block			30.3						39.9						22.2						38.3						63.6						52.8
Corporate			(34.9)						(33.5)						(37.5)						(49.5)						(36.9)						(40.4)
			497.5						451.2						366.9						646.0						443.3						309.5
Income Tax Expense			105.3						93.0						82.6						132.3						72.9						58.5
Income Before Net Investment Gain (Loss)			392.2						358.2						284.3						513.7						370.4						251.0
Net Investment Gain (Loss)			0.9						0.1						6.6						(4.4)						(4.1)						(13.8)
Tax Expense (Benefit) on Net Investment Gain (Loss)			0.2						—						1.7						(1.0)						(1.0)						(3.2)
Net Income			$	392.9					$	358.3					$	289.2					$	510.3					$	367.3					$	240.4
Net Income Per Common Share - Assuming Dilution			$	1.98					$	1.80					$	1.44					$	2.53					$	1.81					$	1.18

8. 1

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Unum Group Financial Results for Unum US Segment

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income			$	1,641.4					$	1,571.0					$	3,251.0					$	3,114.0					$	6,251.4					$	6,072.0
Net Investment Income			158.0						167.8						315.3						338.8						676.3						721.6
Other Income			54.5						50.7						108.1						97.8						196.3						170.0
Total			1,853.9						1,789.5						3,674.4						3,550.6						7,124.0						6,963.6
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			983.9						1,000.1						1,962.3						2,119.0						3,970.9						4,430.3
Commissions			160.5						154.1						329.4						307.3						614.4						583.4
Deferral of Acquisition Costs			(77.1)						(64.9)						(156.1)						(133.2)						(273.1)						(257.8)
Amortization of Deferred Acquisition Costs			63.4						58.7						129.2						115.6						240.9						285.9
Other Expenses			380.1						349.6						754.0						681.7						1,427.5						1,291.2
Total			1,510.8						1,497.6						3,018.8						3,090.4						5,980.6						6,333.0
Income Before Income Tax and Net Investment Gains and Losses			343.1						291.9						655.6						460.2						1,143.4						630.6
Reserve Assumption Updates			—						—						—						—						(155.0)						(215.0)
Adjusted Operating Income			$	343.1					$	291.9					$	655.6					$	460.2					$	988.4					$	415.6
Operating Ratios (% of Premium Income):
Benefit Ratio1			59.9		%				63.7		%				60.4		%				68.0		%				66.0		%				76.5		%
Other Expense Ratio2			22.4		%				21.6		%				22.5		%				21.2		%				22.2		%				20.7		%
Income Ratio																											18.3		%				10.4		%
Adjusted Operating Income Ratio			20.9		%				18.6		%				20.2		%				14.8		%				15.8		%				6.8		%

1Excludes the reserve decreases related to reserve assumption updates that occurred during the third quarters of 2022 and 2021.

2Ratio of Other Expenses to Premium Income plus Unum US Group Disability Other Income, which is primarily related to fee-based services.

9

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Unum Group Financial Results for Unum US Group Disability

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Group Long-term Disability			$	516.1					$	474.4					$	1,020.8					$	938.3					$	1,911.7					$	1,827.8
Group Short-term Disability			256.2						232.1						496.5						453.7						926.3						864.0
Total Premium Income			772.3						706.5						1,517.3						1,392.0						2,838.0						2,691.8
Net Investment Income			81.1						87.5						162.2						177.8						349.1						379.6
Other Income			53.8						49.8						106.4						95.1						191.8						165.7
Total			907.2						843.8						1,785.9						1,664.9						3,378.9						3,237.1
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			458.6						471.3						905.6						978.8						1,782.4						1,911.5
Commissions			57.0						53.4						115.4						105.9						211.3						199.8
Deferral of Acquisition Costs			(15.8)						(12.5)						(30.4)						(25.2)						(53.1)						(49.8)
Amortization of Deferred Acquisition Costs			12.8						12.7						25.9						23.8						53.0						84.2
Other Expenses			234.8						213.4						463.9						413.3						862.3						773.9
Total			747.4						738.3						1,480.4						1,496.6						2,855.9						2,919.6
Income Before Income Tax and Net Investment Gains and Losses			159.8						105.5						305.5						168.3						523.0						317.5
Reserve Assumption Updates			—						—						—						—						(121.0)						(215.0)
Adjusted Operating Income			$	159.8					$	105.5					$	305.5					$	168.3					$	402.0					$	102.5
Operating Ratios (% of Premium Income):
Benefit Ratio1			59.4		%				66.7		%				59.7		%				70.3		%				67.1		%				79.0		%
Other Expense Ratio2			28.4		%				28.2		%				28.6		%				27.8		%				28.5		%				27.1		%
Income Ratio																											18.4		%				11.8		%
Adjusted Operating Income Ratio			20.7		%				14.9		%				20.1		%				12.1		%				14.2		%				3.8		%
Persistency:
Group Long-term Disability															91.0		%				90.9		%				90.7		%				89.6		%
Group Short-term Disability															88.6		%				89.2		%				88.9		%				87.4		%
1Excludes the reserve decreases related to the reserve assumption updates that occurred during the third quarters of 2022 and 2021.
2Ratio of Other Expenses to Premium Income plus Other Income, which is primarily related to fee-based services.

9. 1

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Unum Group Financial Results for Unum US Group Life and Accidental Death & Dismemberment

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Group Life			$	418.2					$	419.6					$	831.3					$	832.2					$	1,669.1					$	1,641.9
Accidental Death & Dismemberment			43.6						43.8						87.1						85.9						173.7						165.1
Total Premium Income			461.8						463.4						918.4						918.1						1,842.8						1,807.0
Net Investment Income			21.9						24.9						44.5						49.8						100.3						104.0
Other Income			0.1						0.4						0.5						0.8						1.6						1.7
Total			483.8						488.7						963.4						968.7						1,944.7						1,912.7
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			336.9						328.3						679.2						727.8						1,415.9						1,734.8
Commissions			38.3						38.2						78.0						74.9						150.4						144.7
Deferral of Acquisition Costs			(10.1)						(8.8)						(19.9)						(17.9)						(37.3)						(36.1)
Amortization of Deferred Acquisition Costs			9.5						10.1						19.3						19.5						41.9						58.6
Other Expenses			57.6						56.2						115.1						110.3						231.1						213.8
Total			432.2						424.0						871.7						914.6						1,802.0						2,115.8
Income (Loss) Before Income Tax and Net Investment Gains and Losses			51.6						64.7						91.7						54.1						142.7						(203.1)
Reserve Assumption Update			—						—						—						—						(34.0)						—
Adjusted Operating Income (Loss)			$	51.6					$	64.7					$	91.7					$	54.1					$	108.7					$	(203.1)
Operating Ratios (% of Premium Income):
Benefit Ratio1			73.0		%				70.8		%				74.0		%				79.3		%				78.7		%				96.0		%
Other Expense Ratio			12.5		%				12.1		%				12.5		%				12.0		%				12.5		%				11.8		%
Income Ratio																											7.7		%
Adjusted Operating Income (Loss) Ratio			11.2		%				14.0		%				10.0		%				5.9		%				5.9		%				(11.2)		%
Persistency:
Group Life															89.3		%				89.4		%				88.9		%				89.7		%
Accidental Death & Dismemberment															88.1		%				88.2		%				87.9		%				89.1		%

1Excludes the reserve decrease related to the reserve assumption update that occurred during the third quarter of 2022.

9. 2

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Unum Group Financial Results for Unum US Supplemental and Voluntary

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Voluntary Benefits			$	213.4					$	214.4					$	427.9					$	433.0					$	833.7					$	840.7
Individual Disability			125.8						117.8						250.0						231.4						461.1						459.8
Dental and Vision			68.1						68.9						137.4						139.5						275.8						272.7
Total Premium Income			407.3						401.1						815.3						803.9						1,570.6						1,573.2
Net Investment Income			55.0						55.4						108.6						111.2						226.9						238.0
Other Income			0.6						0.5						1.2						1.9						2.9						2.6
Total			462.9						457.0						925.1						917.0						1,800.4						1,813.8
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			188.4						200.5						377.5						412.4						772.6						784.0
Commissions			65.2						62.5						136.0						126.5						252.7						238.9
Deferral of Acquisition Costs			(51.2)						(43.6)						(105.8)						(90.1)						(182.7)						(171.9)
Amortization of Deferred Acquisition Costs			41.1						35.9						84.0						72.3						146.0						143.1
Other Expenses			87.7						80.0						175.0						158.1						334.1						303.5
Total			331.2						335.3						666.7						679.2						1,322.7						1,297.6
Adjusted Operating Income			$	131.7					$	121.7					$	258.4					$	237.8					$	477.7					$	516.2
Operating Ratios (% of Premium Income):
Benefit Ratios:
Voluntary Benefits			39.2		%				42.4		%				37.6		%				43.7		%				41.6		%				45.1		%
Individual Disability			42.1		%				50.3		%				43.7		%				52.4		%				49.5		%				45.0		%
Dental and Vision			76.2		%				72.9		%				78.2		%				73.1		%				71.6		%				72.6		%
Other Expense Ratio			21.5		%				19.9		%				21.5		%				19.7		%				21.3		%				19.3		%
Adjusted Operating Income Ratio			32.3		%				30.3		%				31.7		%				29.6		%				30.4		%				32.8		%
Persistency:
Voluntary Benefits															74.4		%				75.8		%				75.8		%				75.8		%
Individual Disability															89.3		%				89.4		%				89.5		%				89.7		%
Dental and Vision															76.1		%				82.0		%				79.9		%				86.0		%

9. 3

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Unum Group Financial Results for Unum International Segment

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Unum UK
Group Long-term Disability			$	104.7					$	94.3					$	196.4					$	197.7					$	376.9					$	401.9
Group Life			41.1						33.3						80.3						65.5						138.2						112.3
Supplemental			33.5						29.4						65.3						58.4						114.0						112.6
Unum Poland			28.6						22.4						54.5						45.6						89.7						90.2
Total Premium Income			207.9						179.4						396.5						367.2						718.8						717.0
Net Investment Income			45.8						50.8						76.7						85.3						170.1						132.7
Other Income			0.1						0.3						0.5						0.5						0.9						0.6
Total			253.8						230.5						473.7						453.0						889.8						850.3
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			147.3						151.1						274.8						299.6						549.6						553.0
Commissions			18.9						15.0						35.5						29.9						56.3						54.1
Deferral of Acquisition Costs			(3.5)						(2.9)						(7.0)						(6.4)						(12.0)						(12.8)
Amortization of Deferred Acquisition Costs			1.9						2.7						3.7						4.8						8.2						7.0
Other Expenses			45.7						36.5						84.8						71.1						146.1						139.1
Total			210.3						202.4						391.8						399.0						748.2						740.4
Adjusted Operating Income			$	43.5					$	28.1					$	81.9					$	54.0					$	141.6					$	109.9

10

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Unum Group Financial Results for Unum UK

			Three Months Ended												Six Months Ended												Year Ended
(in millions of pounds)			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Group Long-term Disability			£	83.6					£	75.1					£	159.1					£	152.2					£	304.6					£	292.0
Group Life			32.8						26.5						65.1						50.5						112.3						81.7
Supplemental			26.7						23.4						52.8						45.0						92.3						81.8
Total Premium Income			143.1						125.0						277.0						247.7						509.2						455.5
Net Investment Income			34.5						39.2						58.2						63.4						131.9						91.0
Other Income			0.1						—						0.1						0.1						0.1						0.1
Total			177.7						164.2						335.3						311.2						641.2						546.6
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			103.5						109.9						195.2						209.5						398.4						364.5
Commissions			10.1						8.7						19.0						16.9						31.8						28.7
Deferral of Acquisition Costs			(1.1)						(1.1)						(2.1)						(2.3)						(4.2)						(4.3)
Amortization of Deferred Acquisition Costs			1.4						1.9						2.5						3.1						5.3						4.5
Other Expenses			29.5						23.3						55.4						43.9						95.6						81.8
Total			143.4						142.7						270.0						271.1						526.9						475.2
Adjusted Operating Income			£	34.3					£	21.5					£	65.3					£	40.1					£	114.3					£	71.4
Weighted Average Pound/Dollar Exchange Rate			1.257						1.256						1.236						1.294						1.221						1.378
Operating Ratios (% of Premium Income):
Benefit Ratio			72.3		%				87.9		%				70.5		%				84.6		%				78.2		%				80.0		%
Other Expense Ratio			20.6		%				18.6		%				20.0		%				17.7		%				18.8		%				18.0		%
Adjusted Operating Income Ratio			24.0		%				17.2		%				23.6		%				16.2		%				22.4		%				15.7		%
Persistency:
Group Long-term Disability															90.9		%				87.4		%				85.1		%				89.3		%
Group Life															82.6		%				88.1		%				87.9		%				86.5		%
Supplemental															90.0		%				91.5		%				92.8		%				90.9		%

10. 1

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Unum Group Financial Results for Colonial Life Segment

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Accident, Sickness, and Disability			$	235.6					$	238.2					$	471.3					$	477.9					$	948.9					$	953.3
Life			106.6						101.3						211.9						203.0						401.1						384.7
Cancer and Critical Illness			88.4						88.1						176.9						177.4						352.0						352.2
Total Premium Income			430.6						427.6						860.1						858.3						1,702.0						1,690.2
Net Investment Income			38.0						38.7						75.3						76.8						152.7						172.0
Other Income			0.4						0.2						0.6						0.5						1.1						1.0
Total			469.0						466.5						936.0						935.6						1,855.8						1,863.2
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			208.0						229.9						435.7						459.2						826.1						911.7
Commissions			88.6						86.4						177.9						172.0						340.0						320.1
Deferral of Acquisition Costs			(75.9)						(70.1)						(151.1)						(140.1)						(271.8)						(252.6)
Amortization of Deferred Acquisition Costs			48.4						45.1						96.7						89.7						172.0						159.2
Other Expenses			84.4						78.6						167.4						155.3						321.4						297.0
Total			353.5						369.9						726.6						736.1						1,387.7						1,435.4
Adjusted Operating Income			$	115.5					$	96.6					$	209.4					$	199.5					$	468.1					$	427.8
Operating Ratios (% of Premium Income):
Benefit Ratio			48.3		%				53.8		%				50.7		%				53.5		%				48.5		%				53.9		%
Other Expense Ratio			19.6		%				18.4		%				19.5		%				18.1		%				18.9		%				17.6		%
Adjusted Operating Income Ratio			26.8		%				22.6		%				24.3		%				23.2		%				27.5		%				25.3		%
Persistency:
Accident, Sickness, and Disability															72.7		%				74.2		%				73.3		%				75.4		%
Life															84.2		%				85.3		%				84.5		%				85.5		%
Cancer and Critical Illness															82.0		%				82.4		%				82.3		%				82.4		%

11

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Unum Group Financial Results for Closed Block Segment

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
									As Adjusted												As Adjusted						As Adjusted
Adjusted Operating Revenue
Premium Income
Long-term Care			$	174.0					$	173.7					$	349.1					$	348.5					$	697.4					$	704.3
All Other			55.2						64.3						111.7						129.4						246.9						291.5
Total Premium Income			229.2						238.0						460.8						477.9						944.3						995.8
Net Investment Income			263.9						291.5						521.1						566.3						1,070.6						1,159.0
Other Income			13.8						16.5						27.3						32.5						58.0						65.1
Total			506.9						546.0						1,009.2						1,076.7						2,072.9						2,219.9
Benefits and Expenses
Policy Benefits Including Remeasurement Loss or Gain			414.4						419.0						817.2						836.5						1,648.0						1,658.4
Commissions			18.1						18.9						37.2						38.4						75.7						80.5
Other Expenses			44.1						44.5						84.6						85.4						172.3						194.2
Total			476.6						482.4						939.0						960.3						1,896.0						1,933.1
Income Before Income Tax and Net Investment Gain and Losses			30.3						63.6						70.2						116.4						176.9						286.8
Amortization of the Cost of Reinsurance			11.0						13.3						22.0						26.7						50.3						69.8
Non-Contemporaneous Reinsurance			9.9						10.0						17.2						22.4						34.4						32.9
Transaction Costs Related to Closed Block Individual Disability Reinsurance Transaction			—						—						—						—						—						6.2
Adjusted Operating Income			$	51.2					$	86.9					$	109.4					$	165.5					$	261.6					$	395.7
Interest Adjusted Loss Ratio:
Long-term Care			92.4		%				84.9		%				89.5		%				83.5		%				83.6		%				81.9		%
Operating Ratios (% of Premium Income):
Other Expense Ratio1			14.4		%				13.1		%				13.6		%				12.3		%				12.9		%				11.9		%
Income Ratio			13.2		%				26.7		%				15.2		%				24.4		%				18.7		%				28.8		%
Adjusted Operating Income Ratio			22.3		%				36.5		%				23.7		%				34.6		%				27.7		%				39.7		%
Persistency:
Long-term Care															95.4		%				95.4		%				95.7		%				95.6		%

1Excludes amortization of the cost of reinsurance. Also excluded are transaction costs related to the second phase of the Closed Block individual disability reinsurance transaction that occurred during the first quarter of 2021.

12

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Unum Group Financial Results for Corporate Segment

			Three Months Ended												Six Months Ended												Year Ended
			6/30/2023						6/30/2022						6/30/2023						6/30/2022						12/31/2022						12/31/2021
Adjusted Operating Revenue
Net Investment Income			$	25.4					$	10.2					$	51.5					$	19.0					$	52.5					$	27.9
Other Income			2.3						1.0						2.5						3.2						4.8						6.2
Total			27.7						11.2						54.0						22.2						57.3						34.1
Interest, Debt, and Other Expenses			62.6						48.1						122.4						99.5						221.6						305.3
Loss Before Income Tax and Net Investment Gains and Losses			(34.9)						(36.9)						(68.4)						(77.3)						(164.3)						(271.2)
Impairment Loss on Internal-Use Software			—						—						—						—						—						12.1
Cost Related to Early Retirement of Debt			—						—						—						—						—						67.3
Impairment Loss on ROU Asset			—						—						—						—						—						13.9
Adjusted Operating Loss			$	(34.9)					$	(36.9)					$	(68.4)					$	(77.3)					$	(164.3)					$	(177.9)

13

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Unum Group Investments

						6/30/2023																		6/30/2023						12/31/2022
Fixed Maturity Securities (Fair Value)																		Selected Statistics
Public						$	22,606.0					63.9		%				Earned Book Yield						4.43		%				4.57		%
Mortgage-Backed/Asset-Backed Securities						556.1						1.6						Average Duration (in years)						8.04						7.75
Private Placements						5,421.4						15.3
High Yield						1,809.7						5.1
Government Securities						1,439.8						4.1
Municipal Securities						3,537.6						10.0
Redeemable Preferred Stocks						3.5						—
Total						$	35,374.1					100.0		%
						Amortized Cost						Fair Value
Quality Ratings of Fixed Maturity Securities																		Private Equity Partnerships						6/30/2023						12/31/2022
Aaa						5.3		%				5.4		%				Private Credit Partnerships						$	284.4					$	275.0
Aa						12.2						11.8						Private Equity Partnerships						517.1						485.3
A						28.4						28.8						Real Asset Partnerships						466.6						434.0
Baa						49.0						48.9						Total						$	1,268.1					$	1,194.3
Below Baa						5.1						5.1
Total						100.0		%				100.0		%
																		Non-Current Investments						$	—					$	—

14

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Unum Group Investments at June 30, 2023

Fixed Maturity Securities - By Industry Classification - Unrealized Gain (Loss)
Classification						Fair Value						Net Unrealized Gain (Loss)						Fair Value with Gross Unrealized Loss						Gross Unrealized Loss						Fair Value with Gross Unrealized Gain						Gross Unrealized Gain
Basic Industry						$	2,507.1					$	(186.4)					$	1,911.3					$	223.9					$	595.8					$	37.5
Capital Goods						3,175.8						(179.6)						2,060.7						255.5						1,115.1						75.9
Communications						2,328.7						(130.2)						1,361.1						220.6						967.6						90.4
Consumer Cyclical						1,416.5						(117.2)						1,141.9						139.2						274.6						22.0
Consumer Non-Cyclical						5,923.4						(466.5)						4,000.2						602.0						1,923.2						135.5
Energy						2,652.2						(56.1)						1,366.5						143.3						1,285.7						87.2
Financial Institutions						3,536.9						(447.8)						3,138.2						469.8						398.7						22.0
Mortgage/Asset-Backed						556.1						(20.6)						390.5						27.0						165.6						6.4
Sovereigns						870.7						(115.9)						486.1						134.4						384.6						18.5
Technology						1,520.3						(156.8)						1,339.9						166.7						180.4						9.9
Transportation						1,603.5						(155.3)						1,244.3						177.0						359.2						21.7
U.S. Government Agencies and Municipalities						4,106.7						(425.2)						2,583.9						559.7						1,522.8						134.5
Public Utilities						5,176.2						(196.4)						2,720.6						345.5						2,455.6						149.1
Total						$	35,374.1					$	(2,654.0)					$	23,745.2					$	3,464.6					$	11,628.9					$	810.6
Gross Unrealized Loss on Fixed Maturity Securities by Length of Time in Unrealized Loss Position
						Investment-Grade																								Below-Investment-Grade
Category						Fair Value						Gross Unrealized Loss																		Fair Value						Gross Unrealized Loss
Less than 91 days						$	3,416.8					$	(117.9)																	$	153.2					$	(2.7)
91 through 180 days						899.0						(45.9)																		60.2						(1.2)
181 through 270 days						115.0						(31.0)																		0.8						—
271 days to 1 year						3,747.4						(234.9)																		157.7						(5.9)
Greater than 1 year						14,048.3						(2,885.2)																		1,146.8						(139.9)
Total						$	22,226.5					$	(3,314.9)																	$	1,518.7					$	(149.7)

14.1

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Appendix to Statistical Supplement

2023 Significant Items:

•In 2018, the Financial Accounting Standards Board issued ASU 2018-12, “Targeted Improvements to the Accounting for Long-Duration Contracts”. This update significantly amended the accounting and disclosure requirements for long-duration insurance contracts. The update was effective for periods beginning January 1, 2023. We adopted this guidance effective January 1, 2023 using the modified retrospective approach with changes applied as of January 1, 2021, also referred to as the transition date. We adjusted all prior period operating results, balance sheets, and related metrics throughout this document.

2022 Significant Items

•Third quarter of 2022 reserve assumption updates resulting in reserve reductions of $121.0 million and $34.0 million before tax, or $95.6 million and $26.9 million after tax, in our Unum US group long-term disability and group life product lines, respectively.

2021 Significant Items

•Third quarter of 2021 reserve assumption updates resulting in a reserve reduction of $215.0 million before tax, or $169.9 million after tax, in our Unum US group long-term disability product line.

•Third quarter of 2021 impairment loss of $12.1 million before tax, or $9.6 million after tax, on previously capitalized internal-use software that we no longer plan to utilize.

•Second quarter of 2021 cost related to the early retirement of debt of $67.3 million before tax, or $53.2 million after tax.

•Second quarter of 2021 impairment loss of $13.9 million, or $11.0 million after tax, on a right-of-use (ROU) asset related to an operating lease for office space that we do not plan to continue using to support our general operations.

•Second quarter of 2021 U.K. tax rate increase from 19 percent to 25 percent, effective April 1, 2023, which resulted in $23.6 million of additional tax expense through continuing operations for the revaluation of our deferred tax assets and liabilities.

•In December 2020, we completed the first phase of a reinsurance transaction, pursuant to which Provident Life and Accident Insurance Company, The Paul Revere Life Insurance Company, and Unum Life Insurance Company of America, wholly-owned domestic insurance subsidiaries of Unum Group, and collectively referred to as "the ceding companies", each entered into separate reinsurance agreements with Commonwealth Annuity and Life Insurance Company (Commonwealth), to reinsure on a coinsurance basis effective as of July 1, 2020, approximately 75 percent of the Closed Block individual disability business, primarily direct business written by the ceding companies. On March 31, 2021, we completed the second phase of the reinsurance transaction, pursuant to which the ceding companies and Commonwealth amended and restated their respective reinsurance agreements to reinsure on a coinsurance and modified coinsurance basis effective as of January 1, 2021, a substantial portion of the remaining Closed Block individual disability business that was not ceded in December 2020, primarily business previously assumed by the ceding companies.

In December 2020, Provident Life and Casualty Insurance Company (PLC), also a wholly-owned domestic insurance subsidiary of Unum Group, entered into an agreement with Commonwealth whereby PLC will provide a 12-year volatility cover to Commonwealth for the active life cohort (ALR cohort). On March 31, 2021, PLC and Commonwealth amended and restated this agreement to incorporate the ALR cohort related to the additional business that was reinsured between the ceding companies and Commonwealth as part of the second phase of the transaction. As part of the amended and restated volatility cover, PLC received a payment from Commonwealth of approximately $18 million.

15

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Appendix to Statistical Supplement - Continued

In connection with the second phase of the reinsurance transaction, Commonwealth paid a total ceding commission to the ceding companies of $18.2 million. The ceding companies transferred assets of $767.0 million, which consisted primarily of cash and fixed maturity securities. In addition, we originally recognized the following in the first quarter of 2021 related to the second phase:

•Net realized investment gains totaling $67.6 million, or $53.4 million after tax, related to the transfer of investments.

•Prior to the implementation of ASU 2018-12, an increase in benefits and change in reserves for future benefits of $133.1 million, or $105.1 million after tax, resulting from the realization of previously unrealized investment gains and losses recorded in accumulated other comprehensive income.

•Transaction costs totaling $6.2 million, or $5.0 million after tax.

•Prior to the implementation of ASU 2018-12, reinsurance recoverable of $990.0 million related to the policies on claim status (DLR cohort).

•Payable of $307.2 million related to the portfolio of invested assets associated with the business ceded on a modified coinsurance basis.

•Prior to the implementation of ASU 2018-12, cost of reinsurance, or prepaid reinsurance premium, of $43.1 million related to the DLR cohort.

•Deposit asset of $5.0 million related to the ALR cohort.

In applying ASU 2018-12 to the second phase of our Closed Block individual disability reinsurance transaction, we recognized the following changes:

•The ceded reserves were valued using a discount rate reflective of an upper-medium grade fixed-income instrument as of the transaction date and the increase in benefits and change in reserves for future benefits of $133.1 million described above was reversed, resulting in a net $142.5 million decrease to the cost of reinsurance, or prepaid reinsurance premium related to the DLR cohort, and a net $142.5 million increase to the reinsurance recoverable related to the DLR cohort.

15.1

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Appendix to Statistical Supplement - Continued

Non-GAAP Financial Measures

We analyze our performance using non-GAAP financial measures which exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. We believe the following non-GAAP financial measures are better performance measures and better indicators of the revenue and profitability and underlying trends in our business:

•Consolidated adjusted operating revenue, which excludes investment gains or losses;

•After-tax adjusted operating income or loss, which excludes investment gains or losses, amortization of the cost of reinsurance, and non-contemporaneous reinsurance, as well as certain other items, as applicable;

•Adjusted operating return on equity, which is calculated using after-tax adjusted operating income or loss and excludes from equity the unrealized gain or loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain or loss on hedges;

•Leverage ratio, which excludes the unrealized gain or loss on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain or loss on hedges; and

•Book value per common share, which is calculated excluding accumulated other comprehensive income (loss) (AOCI).

Investment gains or losses primarily include realized investment gains or losses, expected investment credit losses, and gains or losses on derivatives. Investment gains or losses and unrealized gains or losses on securities depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our Company. Leverage ratio and book value per common share excluding certain components of AOCI, certain of which tend to fluctuate depending on market conditions and general economic trends, are important measures.

As previously discussed, we have exited a substantial portion of our Closed Block individual disability product line through the two phases of the reinsurance transaction that were executed in December 2020 and March 2021. As a result, we exclude the amortization of the cost of reinsurance that we recognized upon the exit of the business related to the policies on claim status as well as the impact of non-contemporaneous reinsurance that resulted from the adoption of ASU 2018-12. Due to the execution of the second phase of the reinsurance transaction occurring after January 1, 2021, the transition date of ASU 2018-12, in accordance with the provisions of the ASU related to non-contemporaneous reinsurance, we were required to establish the ceded reserves using an upper-medium grade fixed-income instrument as of the reinsurance transaction date in March 2021 which resulted in higher ceded reserves compared to that which was reported historically. However, the direct reserves for the block reinsured in the second phase were calculated using the original discount rate utilized as of the transition date. Both the direct and ceded reserves are then remeasured at each reporting period using a current discount rate reflective of an upper-medium grade fixed-income instrument, with the changes recognized in other comprehensive income (loss). While the total equity impact is neutral, the different original discount rates utilized for direct and ceded reserves result in disproportionate earnings impacts. The impact of non-contemporaneous reinsurance will fluctuate depending on the magnitude of reserve changes during the period. We believe that the exclusion of these items provides a better view of our results from our ongoing businesses.

We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability.

For a reconciliation of the most directly comparable GAAP measures to these non-GAAP financial measures, refer to the "Reconciliation of Non-GAAP Financial Measures" beginning on page 15.3, other than book value per common share, which is presented on page 2.

15.2

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Reconciliation of Non-GAAP Financial Measures

						Three Months Ended
						June 30						March 31						December 31						September 30						June 30						March 31
						2023												2022
Total Revenue						$	3,112.2					$	3,036.1					$	3,004.8					$	2,959.1					$	3,039.6					$	2,980.6
Excluding:
Net Investment Gain (Loss)						0.9						0.1						6.6						(4.4)						(4.1)						(13.8)
Adjusted Operating Revenue						$	3,111.3					$	3,036.0					$	2,998.2					$	2,963.5					$	3,043.7					$	2,994.4

15.3

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Reconciliation of Non-GAAP Financial Measures - Continued

						After-Tax Adjusted Operating Income (Loss)						Average Allocated Equity1						Annualized Adjusted Operating Return on Equity
Three Months Ended June 30, 2023
Unum US						$	271.0					$	4,469.3					24.3		%
Unum International						35.9						787.9						18.2		%
Colonial Life						91.2						1,696.2						21.5		%
Core Operating Segments						398.1						6,953.4						22.9		%
Closed Block						38.3						5,309.8
Corporate						(27.6)						(389.9)
Total						$	408.8					$	11,873.3					13.8		%
Three Months Ended June 30, 2022
Unum US						$	230.8					$	4,537.4					20.3		%
Unum International						43.7						751.2						23.3		%
Colonial Life						76.3						1,649.4						18.5		%
Core Operating Segments						350.8						6,938.0						20.2		%
Closed Block						68.0						4,572.2
Corporate						(30.0)						(774.5)
Total						$	388.8					$	10,735.7					14.5		%

1 Excludes unrealized gain (loss) on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain (loss) on hedges and is calculated using the stockholders' equity balances presented on page 15.7

15.4

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Reconciliation of Non-GAAP Financial Measures - Continued

						After-Tax Adjusted Operating Income (Loss)						Average Allocated Equity1						Annualized Adjusted Operating Return on Equity
Six Months Ended June 30, 2023
Unum US						$	517.9					$	4,642.0					22.3		%
Unum International						69.1						787.6						17.5		%
Colonial Life						165.2						1,693.7						19.5		%
Core Operating Segments						752.2						7,123.3						21.1		%
Closed Block						82.1						5,276.2
Corporate						(52.9)						(649.1)
Total						$	781.4					$	11,750.4					13.3		%
Six Months Ended June 30, 2022
Unum US						$	363.9					$	4,535.9					16.0		%
Unum International						74.2						761.2						19.5		%
Colonial Life						157.6						1,632.1						19.3		%
Core Operating Segments						595.7						6,929.2						17.2		%
Closed Block						129.6						4,620.0
Corporate						(65.1)						(863.5)
Total						$	660.2					$	10,685.7					12.4		%

1 Excludes unrealized gain (loss) on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain (loss) on hedges and is calculated using the stockholders' equity balances presented on page 15.7

15.5

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Reconciliation of Non-GAAP Financial Measures - Continued

						After-Tax Adjusted Operating Income (Loss)						Average Allocated Equity1						Adjusted Operating Return on Equity
Year Ended December 31, 2022
Unum US						$	781.1					$	4,675.8					16.7		%
Unum International						167.6						781.6						21.4		%
Colonial Life						369.5						1,642.5						22.5		%
Core Operating Segments						1,318.2						7,099.9						18.6		%
Closed Block						201.8						4,873.7
Corporate						(156.2)						(979.8)
Total						$	1,363.8					$	10,993.8					12.4		%
Year Ended December 31, 2021
Unum US						$	328.9					$	4,481.3					7.3		%
Unum International						87.6						808.0						10.8		%
Colonial Life						337.8						1,597.9						21.1		%
Core Operating Segments						754.3						6,887.2						11.0		%
Closed Block						249.3						4,265.6
Corporate						(69.7)						(1,046.1)
Total						$	933.9					$	10,106.7					9.2		%

1 Excludes unrealized gain (loss) on securities, the effect of change in discount rate assumptions on the liability for future policy benefits, and net gain (loss) on hedges and is calculated using the stockholders' equity balances presented on page 15.7. Due to the implementation of ASU 2018-12 for which the beginning balances of 2021 for certain stockholders' equity line items were adjusted, we are computing the average allocated equity for 2021 using internally allocated equity that reflects the adjusted beginning balance at January 1, 2021. As a result, average equity for the year ended December 31, 2021 for certain of our segments will not compute using the historical allocated equity at December 31, 2020.

15.6

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Reconciliation of Non-GAAP Financial Measures - Continued

Average allocated equity is computed as follows:

						6/30/2023						3/31/2023						12/31/2022						6/30/2022						3/31/2022						12/31/2021						1/1/2021
Total Stockholders' Equity						$	9,245.9					$	9,247.4					$	8,735.0					$	7,787.8					$	6,887.8					$	6,033.9					$	4,166.0
Excluding:
Net Unrealized Gain (Loss) on Securities						(2,762.6)						(2,205.2)						(3,028.4)						(1,560.4)						1,120.6						4,014.4						5,315.8
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits						0.1						(260.0)						313.9						(1,541.2)						(4,912.6)						(8,570.7)						(10,932.5)
Net Gain (Loss) on Hedges						(33.3)						7.8						(9.6)						46.4						51.4						61.8						97.8
Total Adjusted Stockholders' Equity						$	12,041.7					$	11,704.8					$	11,459.1					$	10,843.0					$	10,628.4					$	10,528.4					$	9,684.9
						Three Months Ended						Six Months Ended						Twelve Months Ended						Three Months Ended						Six Months Ended						Twelve Months Ended
						6/30/2023												12/31/2022						6/30/2022												12/31/2021
Average Adjusted Stockholders' Equity						$	11,873.3					$	11,750.4					$	10,993.8					$	10,735.7					$	10,685.7					$	10,106.7

15.7

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Reconciliation of Non-GAAP Financial Measures - Continued

						Three Months Ended June 30																								Six Months Ended June 30
						2023												2022												2023												2022
						(in millions)						per share*						(in millions)						per share*						(in millions)						per share*						(in millions)						per share*
Net Income						$	392.9					$	1.98					$	367.3					$	1.81					$	751.2					$	3.78					$	607.7					$	2.99
Excluding:
Net Investment Gain (Loss) (net of tax expense (benefit) of $0.2; $(1.0); $0.2; $(4.2))						0.7						—						(3.1)						(0.02)						0.8						0.01						(13.7)						(0.07)
Amortization of the Cost of Reinsurance (net of tax benefit of $2.3; $2.8; $4.6; $5.6 )						(8.7)						(0.04)						(10.5)						(0.05)						(17.4)						(0.09)						(21.1)						(0.10)
Non-Contemporaneous Reinsurance (net of tax benefit of $2.0; $2.1; $3.6; $4.7)						(7.9)						(0.04)						(7.9)						(0.04)						(13.6)						(0.07)						(17.7)						(0.09)
After-tax Adjusted Operating Income						$	408.8					$	2.06					$	388.8					$	1.92					$	781.4					$	3.93					$	660.2					$	3.25

*Assuming Dilution.

15.8

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Reconciliation of Non-GAAP Financial Measures - Continued

						Year Ended December 31
						2022												2021
						(in millions)						per share *						(in millions)						per share *
Net Income						$	1,407.2					$	6.96					$	981.0					$	4.79
Excluding:
Net Investment Gains and Losses
Net Realized Investment Gain Related to Reinsurance Transaction (net of tax expense of $—; $14.2)						—						—						53.4						0.26
Net Investment Gain (Loss), Other (net of tax expense (benefit) of $(3.5); $1.9)						(12.2)						(0.07)						7.2						0.03
Total Net Investment Gain (Loss)						(12.2)						(0.07)						60.6						0.29
Items Related to Closed Block Individual Disability Reinsurance Transaction
Amortization of the Cost of Reinsurance (net of tax benefit of $10.6; $14.7)						(39.7)						(0.20)						(55.1)						(0.27)
Non-Contemporaneous Reinsurance (net of tax benefit of $7.2; $7.0)						(27.2)						(0.13)						(25.9)						(0.12)
Transaction Costs (net of tax benefit of $—; $1.2)						—						—						(5.0)						(0.02)
Total Items Related to Closed Block Individual Disability Reinsurance Transaction						(66.9)						(0.33)						(86.0)						(0.41)
Reserve Assumption Updates (net of tax expense of $32.5; $45.1)						122.5						0.61						169.9						0.83
Impairment Loss on Internal-Use Software (net of tax benefit of $—; $2.5)						—						—						(9.6)						(0.05)
Cost Related to Early Retirement of Debt (net of tax benefit of $—; $14.1)						—						—						(53.2)						(0.26)
Impairment Loss on ROU Asset (net of tax benefit of $—; $2.9)						—						—						(11.0)						(0.05)
Impact of U.K. Tax Rate Increase						—						—						(23.6)						(0.12)
After-tax Adjusted Operating Income						$	1,363.8					$	6.75					$	933.9					$	4.56

*Assuming Dilution.

15.9

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Reconciliation of Non-GAAP Financial Measures - Continued

						June 30												December 31
						2023						2022						2022						2021
Debt						$	3,431.1					$	3,442.8					$	3,429.8					$	3,442.2
Including:
Lease Liability						65.0						75.2						67.9						82.6
Adjusted Debt and Lease Liability						$	3,496.1					$	3,518.0					$	3,497.7					$	3,524.8
Total Stockholders' Equity						$	9,245.9					$	7,787.8					$	8,735.0					$	6,033.9
Excluding:
Net Unrealized Gain (Loss) on Securities						(2,762.6)						(1,560.4)						(3,028.4)						4,014.4
Effect of Change in Discount Rate Assumptions on the Liability for Future Policy Benefits						0.1						(1,541.2)						313.9						(8,570.7)
Net Gain (Loss) on Hedges						(33.3)						46.4						(9.6)						61.8
Equity, As Adjusted						12,041.7						10,843.0						11,459.1						10,528.4
Debt, As Adjusted and Lease Liability						3,496.1						3,518.0						3,497.7						3,524.8
Total Adjusted Capital						$	15,537.8					$	14,361.0					$	14,956.8					$	14,053.2
Leverage Ratio						22.5		%				24.5		%				23.4		%				25.1		%

15.10

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Reconciliation of Non-GAAP Financial Measures - Continued

																		Three Months Ended
																		June 30, 2023						June 30, 2022
																		Premium Income						Premium Income, local currency1						Weighted Average Exchange Rate2						Premium Income in Constant Currency
Unum International
Unum UK																		$	179.3					£	125.0					1.253						$	156.6
Unum Poland																		28.6						zł	97.6					0.240						23.4
Total																		207.9																		180.0
Unum US																		1,641.4						$	1,571.0											1,571.0
Colonial Life																		430.6						$	427.6											427.6
Core Operations																		$	2,279.9																	$	2,178.6

																		Three Months Ended
																		March 31, 2023						March 31, 2022
																		Premium Income						Premium Income, local currency1						Weighted Average Exchange Rate3						Premium Income in Constant Currency
Unum International
Unum UK																		$	162.7					£	122.7					1.215						$	149.1
Unum Poland																		25.9						zł	95.6					0.228						21.8
Total																		188.6																		170.9
Unum US																		1,609.6						$	1,543.0											1,543.0
Colonial Life																		429.5						$	430.7											430.7
Core Operations																		$	2,227.7																	$	2,144.6

1Premium income shown in millions of pounds for Unum UK, millions of zlotys for Unum Poland, and U.S. dollars for Unum US and Colonial Life.

2Exchange rate is calculated using the average foreign currency exchange rates for the most recent period, applied to the comparable prior period

15.11