Statutory Financial Information (Tables)

12 Months Ended

Dec. 31, 2023

Statutory Financial Information [Abstract]

Statutory Permitted Practices Disclosure

Additional information regarding the Unum America PDR is as follows:


	Year Ended December 31
	2023		2022		2021
	(in millions of dollars)
Premium Deficiency Reserve
Gross Premium Deficiency Reserve1	$	1,604	$	2,851	$	2,977
Cumulative Gross Premium Deficiency Reserve Recognized	1,604		1,191		667
Remaining Premium Deficiency Reserve to be Recognized	$	—	$	1,660	$	2,310

1The gross PDR decreased by $1,247 million during 2023 due primarily to changes in the assumed reinvestment rate as well as premium rate increase activity. The gross PDR decreased by $126 million during 2022 due primarily to premium rate increase activity and underlying growth in the locked-in statutory reserve basis. The gross PDR increased by $687 million during 2021 due primarily to changes in the assumed reinvestment rate. The increase for 2021 was from a gross PDR of $2,290 million as of December 31, 2020, which was an increase from the original $2,100 million reserve deficiency as of December 31, 2018.

Statutory Earnings and Surplus

The operating results and capital and surplus of our traditional U.S. life insurance subsidiaries and our captive reinsurers, prepared in accordance with prescribed or permitted accounting practices of the NAIC or states of domicile, are presented separately below.


	Year Ended December 31
	2023		2022		2021
	(in millions of dollars)
Combined Net Income (Loss)
Traditional U.S. Life Insurance Subsidiaries	$	1,329.9	$	965.4	$	779.5
Captive Reinsurers	$	(318.3)	$	(432.2)	$	(159.0)

Combined Net Gain (Loss) from Operations, After Tax
Traditional U.S. Life Insurance Subsidiaries	$	1,351.5	$	965.4	$	681.1
Captive Reinsurers	$	(279.4)	$	(428.6)	$	(247.4)


	December 31
	2023		2022
	(in millions of dollars)
Combined Capital and Surplus
Traditional U.S. Life Insurance Subsidiaries	$	3,751.3	$	3,816.3
Captive Reinsurers	$	1,534.9	$	1,229.6

- Definition

Tabular disclosure of how the entity's reporting under GAAP as of the balance sheet date differs from the results based on prescribed and permitted accounting practices of the state or country of domicile in which a relevant statutory filing is made, or differences in results based on the National Association of Insurance Commissioners (NAIC) prescribed practices, or a combination thereof. Describes the accounting practices used and the related monetary effect on statutory surplus, net income, and risk-based capital. If an insurance enterprise's risk-based capital would have triggered a regulatory event had it not used a permitted practice, that fact is disclosed in the financial statements. Permitted statutory accounting practices include practices not prescribed but allowed by the domiciliary state insurance department regulatory authority.

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