Unum Group

Unum Group provides insurance that helps workers and their families cope financially with illness, injury or death. Its products include disability, life, accident, critical illness, and dental and vision coverage. Most of it is offered through the workplace, via independent brokers and consultants. Employers of all sizes purchase group plans for their staff, and workers can add voluntary coverage paid through payroll deduction. Unum operates mainly in the United States and the United Kingdom, and also in Poland.

Like other insurers, Unum collects premiums (the price of a policy) up front, invests them and pays claims later. It prices policies on the expected claims of a pool of similar customers, adjusted for expenses, investment income and profit. New group disability customers usually lock in prices for one to three years, after which rates can be reset. Unum also earns fees for managing employee leave and handling claims for employers that fund their own benefits.

Unum US is the biggest segment, with 65.4% of premium income for the year ended December 31, 2025. Colonial Life added 17.0%, Unum International 10.0% and the Closed Block 7.6%. Within Unum US, group disability brought in 44.4% of premiums and group life and accidental death and dismemberment coverage 29.2%. Total revenue was about $13.1 billion that year.

• In Q2 FY2026 (ended Jun 30, 2026), revenue was $3.37B, up 0.3% from a year earlier, and net income was $256.9M (-23.5%).
• For fiscal 2025, revenue was $13.08B (+1.5% year over year; -0.1% a year from FY2020 to FY2025) with a 5.6% net margin.

• Over FY2021–FY2025: $2.48B in buybacks and $1.37B in dividends.
• At least 9 consecutive annual increases: every fiscal year in the SEC data (FY2016–FY2025) shows an increase; the true streak may be longer.
• Regular dividends per share grew +9.1% a year over 5 years (FY2020–FY2025).
• Dividends took 41.5% of earnings and 55.1% of free cash flow in the latest fiscal year.
• Shares outstanding changed -22.5% from Aug 2, 2021 to Jul 27, 2026.

Rank among 1514 US companies

Market value at each year end

Unum Group’s market value went from $10.20B at the end of 2016 to $14.29B on Oct 28, 2026, up 40%; since the end of 2025 it is up 10%.

Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 6 sales ($2.6M), 1 of them under pre-arranged 10b5-1 trading plans.

Large shareholders (13G filings)

ETFs with the most weight in UNM

1. Disability claims rise when the economy weakens. More people file disability claims, and fewer recover, when unemployment climbs or confidence falls. Unum can reprice group policies, but that takes time, and employers may not accept higher prices.
2. Some policies have prices locked for life. Noncancelable individual disability policies guarantee a fixed premium for the life of the policy. If claims on that business worsen, Unum cannot raise prices to make up the difference.
3. Reserves for future claims could fall short. Unum holds reserves, money set aside for future benefits, based on estimates. If disability or long-term care claimants live longer than expected, it may need to add reserves, cutting earnings.
4. Low interest rates squeeze investment income. Insurers invest premiums until claims are paid. Long stretches of low long-term rates can cut Unum's investment income and raise the estimated cost of its future obligations, including pensions.
5. Catastrophes and pandemics can spike life claims. Group life claims can jump after terrorist attacks, natural disasters or pandemics. Such events can also make reinsurance, the insurance Unum purchases to share big risks, costlier or harder to get.
6. Tighter rules or a ratings cut. Unum's insurance subsidiaries are closely regulated. New rules or exam findings could raise required capital and reserves, and a ratings downgrade could hurt its competitive position and raise its borrowing costs.

• Aug 26, 2026 Other company announcement
• Jul 28, 2026 Quarterly results released
• Jul 6, 2026 Major agreement signed; Investor presentation or announcement
• Jul 1, 2026 Other company announcement
• May 22, 2026 Shareholder vote results
• May 21, 2026 Other company announcement
• Apr 28, 2026 Quarterly results released
• Mar 6, 2026 Bylaws or fiscal year changed
• Feb 5, 2026 Quarterly results released; Investor presentation or announcement
• Dec 4, 2025 Other company announcement

Unum has raised its regular dividend at least nine years in a row, through fiscal 2025. The dividend grew from $1.14 a share in fiscal 2020 to $1.76 in fiscal 2025, about 9.1% a year. Fiscal 2025 dividends used 41.5% of earnings and 55.1% of free cash flow (cash from operations after capital spending). Both shares were up from fiscal 2024 because earnings and cash flow fell sharply. The yield was 1.58% as of October 28, 2026. Buybacks (share repurchases) are bigger: about $2.48 billion over fiscal 2021–2025, versus $1.37 billion in dividends. The share count fell 22.5% from August 2021 to July 2026.

The stock has fallen hard in crises, dropping 69.1% in the 2008 financial crisis and 65.5% in the 2020 COVID crash. It regained its prior peak about 13 and 11 months after bottoming. During the 2022 market slump, Unum rose 65.9%, with a worst dip of 14.7%. Like any single stock, Unum carries more risk than a diversified fund.