Financial Services, Insurance (Tables)

12 Months Ended

Dec. 31, 2025

Insurance [Abstract]

Liability for Future Policy Benefit, Activity

The following table presents balances as well as the changes in the liability for future policy benefits for traditional long duration products.

	Consolidated
	December 31
	2025		2024		2023
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	13,930.6	$	14,417.8	$	12,426.2
Beginning balance at original discount rate	14,266.9		14,243.2		12,695.3
Effect of changes in cash flow assumptions	161.7		73.0		1,499.2
Effect of actual variances from expected experience	(223.1)		(148.2)		(82.5)
Adjusted beginning of year balance	14,205.5		14,168.0		14,112.0
Issuances	1,157.2		1,075.3		1,054.9
Interest accretion	638.4		637.0		584.0
Net premiums collected	(1,655.8)		(1,597.9)		(1,537.4)
Foreign currency	47.7		(15.5)		29.7
Ending balance at original discount rate	14,393.0		14,266.9		14,243.2
Effect of change in discount rate assumptions	23.5		(336.3)		174.6
Balance, end of period	$	14,416.5	$	13,930.6	$	14,417.8
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	48,920.1	$	52,423.6	$	48,929.4
Beginning balance at original discount rate	50,778.2		51,305.7		49,689.0
Effect of changes in cash flow assumptions	715.9		(248.5)		1,702.0
Effect of actual variances from expected experience	(247.8)		(336.1)		(310.8)
Adjusted beginning of year balance	51,246.3		50,721.1		51,080.2
Issuances1	3,164.6		3,082.0		3,072.2
Interest accretion	2,261.8		2,253.1		2,227.2
Benefit payments	(5,276.7)		(5,215.2)		(5,236.1)
Foreign currency	242.5		(62.8)		162.2
Ending balance at original discount rate	51,638.5		50,778.2		51,305.7
Effect of change in discount rate assumptions	(955.4)		(1,858.1)		1,117.9
Balance, end of period	$	50,683.1	$	48,920.1	$	52,423.6
Net liability for future policy benefits	$	36,266.6	$	34,989.5	$	38,005.8
Other2	1,562.1		1,591.7		1,753.3
Total liability for future policy benefits	37,828.7		36,581.2		39,759.1
Less: Reinsurance recoverable related to future policy benefits	10,318.3		7,038.7		7,756.1
Net liability for future policy benefits, after reinsurance recoverable	$	27,510.4	$	29,542.5	$	32,003.0
1Issuances include new policy issuances for most product lines. For our Unum US group disability, Unum US group life and AD&D and Closed Block - All Other product lines and certain of our Unum International product lines, this line represents new claim incurrals.
2Other primarily relates to our Closed Block - All Other product line.

The following tables summarize the amount of gross premiums and interest accretion reflected in the statements of income as well as the undiscounted and discounted expected gross premiums and expected future benefit payments and the weighted average interest rates for traditional long duration products presented in the rollforward activity above.

	Consolidated
	Year Ended December 31
	2025		2024		2023
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	10,504.5	$	10,107.5	$	9,690.7
Interest accretion	$	1,623.4	$	1,616.1	$	1,643.2

	Consolidated
	December 31
	2025			2024			2023
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	102,714.2		$	103,434.1		$	105,325.8
Expected future gross premiums	$	39,495.6		$	39,338.5		$	38,761.5
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	26,215.9		$	25,929.1		$	25,552.9
Weighted average interest rate:
Interest accretion rate	5.0		%	4.9		%	4.8		%
Current discount rate	5.1		%	5.3		%	4.8		%
Weighted average duration of the liability	11.2 years			11.4 years			11.5 years

The following table presents the balances and changes in the reserves for future policy benefits for traditional long duration products in the Unum US segment.

	December 31, 2025
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Total Unum US
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	—	$	—	$	1,240.2	$	1,202.5	$	2,442.7
Beginning balance at original discount rate	—		—		1,335.3		1,230.7		2,566.0
Effect of changes in cash flow assumptions	—		—		(29.6)		(56.9)		(86.5)
Effect of actual variances from expected experience	—		—		(41.4)		(19.4)		(60.8)
Adjusted beginning of year balance	—		—		1,264.3		1,154.4		2,418.7
Issuances	—		—		351.6		203.5		555.1
Interest accretion	—		—		45.7		48.9		94.6
Net premiums collected	—		—		(214.3)		(174.3)		(388.6)
Ending balance at original discount rate	—		—		1,447.3		1,232.5		2,679.8
Effect of change in discount rate assumptions	—		—		(61.8)		4.0		(57.8)
Balance, end of period	$	—	$	—	$	1,385.5	$	1,236.5	$	2,622.0
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	4,735.8	$	835.2	$	2,362.5	$	3,096.5	$	11,030.0
Beginning balance at original discount rate	4,907.5		852.6		2,614.6		3,191.1		11,565.8
Effect of changes in cash flow assumptions	(93.0)		(7.1)		(40.8)		(91.8)		(232.7)
Effect of actual variances from expected experience	(43.6)		(44.9)		(36.5)		(20.3)		(145.3)
Adjusted beginning of year balance	4,770.9		800.6		2,537.3		3,079.0		11,187.8
Issuances1	1,081.9		363.1		375.3		222.0		2,042.3
Interest accretion	136.7		16.3		106.6		143.3		402.9
Benefit payments	(1,332.6)		(372.5)		(268.1)		(293.9)		(2,267.1)
Ending balance at original discount rate	4,656.9		807.5		2,751.1		3,150.4		11,365.9
Effect of change in discount rate assumptions	(68.8)		(5.9)		(214.2)		(9.7)		(298.6)
Balance, end of period	$	4,588.1	$	801.6	$	2,536.9	$	3,140.7	$	11,067.3
Net liability for future policy benefits	$	4,588.1	$	801.6	$	1,151.4	$	1,904.2	$	8,445.3
Other	0.2		0.8		4.1		27.1		32.2
Total liability for future policy benefits	4,588.3		802.4		1,155.5		1,931.3		8,477.5
Less: Reinsurance recoverable related to future policy benefits	24.8		6.0		12.9		377.9		421.6
Net liability for future policy benefits, after reinsurance recoverable	$	4,563.5	$	796.4	$	1,142.6	$	1,553.4	$	8,055.9
1Issuances include new policy issuances for most product lines. Issuances for Unum US group disability and Unum US group life and AD&D represents new claim incurrals.

	December 31, 2024
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Total Unum US
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	—	$	—	$	1,134.7	$	1,296.7	$	2,431.4
Beginning balance at original discount rate	—		—		1,192.5		1,294.4		2,486.9
Effect of changes in cash flow assumptions	—		—		41.5		(100.2)		(58.7)
Effect of actual variances from expected experience	—		—		(66.2)		(3.4)		(69.6)
Adjusted beginning of year balance	—		—		1,167.8		1,190.8		2,358.6
Issuances	—		—		316.3		168.7		485.0
Interest accretion	—		—		39.4		51.6		91.0
Net premiums collected	—		—		(188.2)		(180.4)		(368.6)
Ending balance at original discount rate	—		—		1,335.3		1,230.7		2,566.0
Effect of change in discount rate assumptions	—		—		(95.1)		(28.2)		(123.3)
Balance, end of period	$	—	$	—	$	1,240.2	$	1,202.5	$	2,442.7
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	5,147.4	$	922.0	$	2,334.5	$	3,348.6	$	11,752.5
Beginning balance at original discount rate	5,277.1		936.5		2,422.0		3,313.9		11,949.5
Effect of changes in cash flow assumptions	(76.4)		(17.0)		51.6		(155.4)		(197.2)
Effect of actual variances from expected experience	(168.9)		(53.1)		(68.0)		(19.1)		(309.1)
Adjusted beginning of year balance	5,031.8		866.4		2,405.6		3,139.4		11,443.2
Issuances1	1,093.2		375.4		339.3		183.1		1,991.0
Interest accretion	151.3		17.7		97.7		149.1		415.8
Benefit payments	(1,368.8)		(406.9)		(228.0)		(280.5)		(2,284.2)
Ending balance at original discount rate	4,907.5		852.6		2,614.6		3,191.1		11,565.8
Effect of change in discount rate assumptions	(171.7)		(17.4)		(252.1)		(94.6)		(535.8)
Balance, end of period	$	4,735.8	$	835.2	$	2,362.5	$	3,096.5	$	11,030.0
Net liability for future policy benefits	$	4,735.8	$	835.2	$	1,122.3	$	1,894.0	$	8,587.3
Other	0.4		0.8		2.8		26.4		30.4
Total liability for future policy benefits	4,736.2		836.0		1,125.1		1,920.4		8,617.7
Less: Reinsurance recoverable related to future policy benefits	26.4		5.3		13.0		149.3		194.0
Net liability for future policy benefits, after reinsurance recoverable	$	4,709.8	$	830.7	$	1,112.1	$	1,771.1	$	8,423.7
1Issuances include new policy issuances for most product lines. Issuances for Unum US group disability and Unum US group life and AD&D represents new claim incurrals.

	December 31, 2023
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Total Unum US
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	—	$	—	$	868.2	$	1,202.9	$	2,071.1
Beginning balance at original discount rate	—		—		937.9		1,228.1		2,166.0
Effect of changes in cash flow assumptions	—		—		180.7		5.0		185.7
Effect of actual variances from expected experience	—		—		(79.8)		(10.4)		(90.2)
Adjusted beginning of year balance	—		—		1,038.8		1,222.7		2,261.5
Issuances	—		—		288.6		197.9		486.5
Interest accretion	—		—		29.0		48.2		77.2
Net premiums collected	—		—		(163.9)		(174.4)		(338.3)
Ending balance at original discount rate	—		—		1,192.5		1,294.4		2,486.9
Effect of change in discount rate assumptions	—		—		(57.8)		2.3		(55.5)
Balance, end of period	$	—	$	—	$	1,134.7	$	1,296.7	$	2,431.4
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	5,533.3	$	972.6	$	1,999.5	$	3,192.8	$	11,698.2
Beginning balance at original discount rate	5,793.1		998.5		2,141.2		3,244.5		12,177.3
Effect of changes in cash flow assumptions	(100.2)		—		170.1		7.9		77.8
Effect of actual variances from expected experience	(204.0)		(37.0)		(90.9)		(45.3)		(377.2)
Adjusted beginning of year balance	5,488.9		961.5		2,220.4		3,207.1		11,877.9
Issuances1	1,094.5		394.2		303.7		215.3		2,007.7
Interest accretion	171.2		20.0		86.2		164.7		442.1
Benefit payments	(1,477.5)		(439.2)		(188.3)		(273.2)		(2,378.2)
Ending balance at original discount rate	5,277.1		936.5		2,422.0		3,313.9		11,949.5
Effect of change in discount rate assumptions	(129.7)		(14.5)		(87.5)		34.7		(197.0)
Balance, end of period	$	5,147.4	$	922.0	$	2,334.5	$	3,348.6	$	11,752.5
Net liability for future policy benefits	$	5,147.4	$	922.0	$	1,199.8	$	2,051.9	$	9,321.1
Other	0.2		1.0		2.6		27.8		31.6
Total liability for future policy benefits	5,147.6		923.0		1,202.4		2,079.7		9,352.7
Less: Reinsurance recoverable related to future policy benefits	30.7		7.2		14.0		156.7		208.6
Net liability for future policy benefits, after reinsurance recoverable	$	5,116.9	$	915.8	$	1,188.4	$	1,923.0	$	9,144.1
1Issuances include new policy issuances for most product lines. Issuances for Unum US group disability and Unum US group life and AD&D represents new claim incurrals.

The following tables summarize the amount of gross premiums and interest accretion reflected in the statements of income as well as the undiscounted and discounted expected gross premiums and expected future benefit payments and the weighted average interest rates for traditional long duration products in the Unum US segment presented in the rollforward activity above.

	Year Ended December 31, 2025
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Total Unum US
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	3,149.9	$	2,097.2	$	871.9	$	680.0	$	6,799.0
Interest accretion	$	136.7	$	16.3	$	60.9	$	94.4	$	308.3

	Year Ended December 31, 2024
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Total Unum US
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	3,070.4	$	1,996.0	$	821.7	$	659.0	$	6,547.1
Interest accretion	$	151.3	$	17.7	$	58.3	$	97.5	$	324.8

	Year Ended December 31, 2023
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Total Unum US
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	2,958.7	$	1,878.0	$	789.9	$	636.6	$	6,263.2
Interest accretion	$	171.2	$	20.0	$	57.2	$	116.5	$	364.9

	December 31, 2025
	Group Disability			Group Life and AD&D			Voluntary Benefits			Individual Disability			Total Unum US
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	5,634.4		$	910.7		$	5,838.3		$	5,070.0		$	17,453.4
Expected future gross premiums	$	—		$	—		$	6,205.6		$	5,823.7		$	12,029.3
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	—		$	—		$	3,975.5		$	4,200.7		$	8,176.2
Weighted average interest rate:
Interest accretion rate	4.3		%	2.4		%	5.0		%	5.2		%	4.4%
Current discount rate	4.4		%	2.5		%	5.5		%	4.9		%	4.5%
Weighted average duration of the liability	4.0 years			2.3 years			18.1 years			9.4 years			7.0 years

	December 31, 2024
	Group Disability			Group Life and AD&D			Voluntary Benefits			Individual Disability			Total Unum US
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	5,953.3		$	964.5		$	5,590.6		$	5,112.9		$	17,621.3
Expected future gross premiums	$	—		$	—		$	5,799.1		$	5,858.2		$	11,657.3
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	—		$	—		$	3,815.4		$	4,211.8		$	8,027.2
Weighted average interest rate:
Interest accretion rate	4.2		%	2.3		%	5.0		%	5.1		%	4.3%
Current discount rate	4.9		%	2.7		%	5.5		%	5.3		%	4.9%
Weighted average duration of the liability	4.2 years			2.4 years			18.3 years			9.4 years			7.1 years

	December 31, 2023
	Group Disability			Group Life and AD&D			Voluntary Benefits			Individual Disability			Total Unum US
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	6,376.6		$	1,063.2		$	5,173.1		$	5,313.7		$	17,926.6
Expected future gross premiums	$	—		$	—		$	5,450.6		$	5,724.8		$	11,175.4
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	—		$	—		$	3,717.5		$	4,112.9		$	7,830.4
Weighted average interest rate:
Interest accretion rate	4.0		%	2.2		%	5.0		%	5.1		%	4.2%
Current discount rate	4.6		%	2.6		%	4.9		%	4.8		%	4.5%
Weighted average duration of the liability	4.3 years			2.6 years			18.1 years			9.6 years			7.0 years

The following table presents the balances and changes in the reserves for future policy benefits for traditional long duration products in the Unum International segment.

	December 31
	2025		2024		2023
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	276.1	$	270.3	$	197.1
Beginning balance at original discount rate	314.2		298.4		246.8
Effect of changes in cash flow assumptions	(7.8)		(5.9)		(5.1)
Effect of actual variances from expected experience	6.2		19.9		17.1
Adjusted beginning of year balance	312.6		312.4		258.8
Issuances	37.6		34.4		23.5
Interest accretion	13.4		11.4		9.4
Net premiums collected	(33.3)		(28.5)		(23.0)
Foreign currency	47.7		(15.5)		29.7
Ending balance at original discount rate	378.0		314.2		298.4
Effect of change in discount rate assumptions	(25.2)		(38.1)		(28.1)
Balance, end of period	$	352.8	$	276.1	$	270.3
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	2,391.6	$	2,527.4	$	2,231.4
Beginning balance at original discount rate	2,641.5		2,687.1		2,495.5
Effect of changes in cash flow assumptions	(15.1)		0.1		17.7
Effect of actual variances from expected experience	(10.5)		(20.5)		1.3
Adjusted beginning of year balance	2,615.9		2,666.7		2,514.5
Issuances1	424.0		379.0		335.2
Interest accretion	74.0		67.9		63.5
Benefit payments	(433.0)		(409.3)		(388.3)
Foreign currency	242.5		(62.8)		162.2
Ending balance at original discount rate	2,923.4		2,641.5		2,687.1
Effect of change in discount rate assumptions	(224.4)		(249.9)		(159.7)
Balance, end of period	$	2,699.0	$	2,391.6	$	2,527.4
Net liability for future policy benefits	$	2,346.2	$	2,115.5	$	2,257.1
Other	49.8		40.7		36.1
Total liability for future policy benefits	2,396.0		2,156.2		2,293.2
Less: Reinsurance recoverable related to future policy benefits	70.4		67.9		78.7
Net liability for future policy benefits, after reinsurance recoverable	$	2,325.6	$	2,088.3	$	2,214.5
1Issuances for Unum International primarily represent new claim incurrals.

The following tables summarize the amount of gross premiums and interest accretion reflected in the statements of income as well as the undiscounted and discounted expected gross premiums and expected future benefit payments and the weighted average interest rates for traditional long duration products in the Unum International segment presented in the rollforward activity above.

	Year Ended December 31
	2025		2024		2023
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	1,061.5	$	957.1	$	849.0
Interest accretion	$	60.6	$	56.5	$	54.1

	December 31
	2025			2024			2023
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	4,723.8		$	4,258.2		$	4,261.1
Expected future gross premiums	$	1,652.7		$	1,295.7		$	1,196.6
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	1,030.3		$	823.4		$	778.6
Weighted average interest rate:
Interest accretion rate	4.1		%	4.1		%	4.0		%
Current discount rate	4.9		%	5.1		%	4.6		%
Weighted average duration of the liability	8.8 years			8.8 years			8.6 years

The following table presents the balances and changes in the reserves for future policy benefits for traditional long duration products in the Colonial Life segment.

	December 31
	2025		2024		2023
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	3,553.3	$	3,592.6	$	3,745.4
Beginning balance at original discount rate	3,793.8		3,754.3		4,046.4
Effect of changes in cash flow assumptions	0.7		(7.9)		(322.7)
Effect of actual variances from expected experience	(48.9)		(57.3)		(53.5)
Adjusted beginning of year balance	3,745.6		3,689.1		3,670.2
Issuances	564.5		555.9		544.9
Interest accretion	138.4		132.8		122.7
Net premiums collected	(597.6)		(584.0)		(583.5)
Ending balance at original discount rate	3,850.9		3,793.8		3,754.3
Effect of change in discount rate assumptions	(141.9)		(240.5)		(161.7)
Balance, end of period	$	3,709.0	$	3,553.3	$	3,592.6
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	5,434.9	$	5,566.0	$	5,581.1
Beginning balance at original discount rate	6,026.2		5,925.2		6,163.9
Effect of changes in cash flow assumptions	(7.6)		(52.7)		(402.9)
Effect of actual variances from expected experience	(71.9)		(92.2)		(52.0)
Adjusted beginning of year balance	5,946.7		5,780.3		5,709.0
Issuances	617.9		610.8		605.9
Interest accretion	233.8		224.4		211.3
Benefit payments	(619.0)		(589.3)		(601.0)
Ending balance at original discount rate	6,179.4		6,026.2		5,925.2
Effect of change in discount rate assumptions	(469.0)		(591.3)		(359.2)
Balance, end of period	$	5,710.4	$	5,434.9	$	5,566.0
Net liability for future policy benefits	$	2,001.4	$	1,881.6	$	1,973.4
Other	30.6		22.6		24.4
Total liability for future policy benefits	2,032.0		1,904.2		1,997.8
Less: Reinsurance recoverable related to future policy benefits	1.3		0.9		1.8
Net liability for future policy benefits, after reinsurance recoverable	$	2,030.7	$	1,903.3	$	1,996.0

The following tables summarize the amount of gross premiums and interest accretion reflected in the statements of income as well as the undiscounted and discounted expected gross premiums and expected future benefit payments and the weighted average interest rates for traditional long duration products in the Colonial Life segment presented in the rollforward activity above.

	Year Ended December 31
	2025		2024		2023
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	1,778.3	$	1,718.9	$	1,658.6
Interest accretion	$	95.4	$	91.6	$	88.6

	December 31
	2025			2024			2023
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	11,058.1		$	10,409.4		$	9,796.7
Expected future gross premiums	$	13,212.6		$	12,618.4		$	11,903.1
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	9,336.4		$	9,049.4		$	8,702.2
Weighted average interest rate:
Interest accretion rate	4.5		%	4.4		%	4.3		%
Current discount rate	5.3		%	5.5		%	4.8		%
Weighted average duration of the liability	17.6 years			17.3 years			17.0 years

The following table presents the balances and changes in the reserves for future policy benefits for traditional long duration products in the Closed Block segment.

	December 31, 2025
	Long-term Care		All Other		Total Closed Block
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	7,658.5	$	—	$	7,658.5
Beginning balance at original discount rate	7,592.9		—		7,592.9
Effect of changes in cash flow assumptions	255.3		—		255.3
Effect of actual variances from expected experience	(119.6)		—		(119.6)
Adjusted beginning of year balance	7,728.6		—		7,728.6
Interest accretion	392.0		—		392.0
Net premiums collected	(636.3)		—		(636.3)
Ending balance at original discount rate	7,484.3		—		7,484.3
Effect of change in discount rate assumptions	248.4		—		248.4
Balance, end of period	$	7,732.7	$	—	$	7,732.7
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	22,925.2	$	7,138.4	$	30,063.6
Beginning balance at original discount rate	22,953.7		7,591.0		30,544.7
Effect of changes in cash flow assumptions	974.6		(3.3)		971.3
Effect of actual variances from expected experience	16.9		(37.0)		(20.1)
Adjusted beginning of year balance	23,945.2		7,550.7		31,495.9
Issuances1	—		80.4		80.4
Interest accretion	1,228.1		323.0		1,551.1
Benefit payments	(1,059.7)		(897.9)		(1,957.6)
Ending balance at original discount rate	24,113.6		7,056.2		31,169.8
Effect of change in discount rate assumptions	307.0		(270.4)		36.6
Balance, end of period	$	24,420.6	$	6,785.8	$	31,206.4
Net liability for future policy benefits	$	16,687.9	$	6,785.8	$	23,473.7
Other2	4.1		1,445.4		1,449.5
Total liability for future policy benefits	16,692.0		8,231.2		24,923.2
Less: Reinsurance recoverable related to future policy benefits	3,369.4		6,455.6		9,825.0
Net liability for future policy benefits, after reinsurance recoverable	$	13,322.6	$	1,775.6	$	15,098.2
1Issuances for Closed Block - All Other represents new claim incurrals.
2Other for Closed Block - All Other primarily includes our closed block group pension products and certain of our ceded closed block individual life products.

	December 31, 2024
	Long-term Care		All Other		Total Closed Block
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	8,123.5	$	—	$	8,123.5
Beginning balance at original discount rate	7,703.6		—		7,703.6
Effect of changes in cash flow assumptions	145.5		—		145.5
Effect of actual variances from expected experience	(41.2)		—		(41.2)
Adjusted beginning of year balance	7,807.9		—		7,807.9
Interest accretion	401.8		—		401.8
Net premiums collected	(616.8)		—		(616.8)
Ending balance at original discount rate	7,592.9		—		7,592.9
Effect of change in discount rate assumptions	65.6		—		65.6
Balance, end of period	$	7,658.5	$	—	$	7,658.5
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	24,697.7	$	7,880.0	$	32,577.7
Beginning balance at original discount rate	22,649.3		8,094.6		30,743.9
Effect of changes in cash flow assumptions	(4.1)		5.4		1.3
Effect of actual variances from expected experience	68.3		17.4		85.7
Adjusted beginning of year balance	22,713.5		8,117.4		30,830.9
Issuances1	—		101.2		101.2
Interest accretion	1,199.8		345.2		1,545.0
Benefit payments	(959.6)		(972.8)		(1,932.4)
Ending balance at original discount rate	22,953.7		7,591.0		30,544.7
Effect of change in discount rate assumptions	(28.5)		(452.6)		(481.1)
Balance, end of period	$	22,925.2	$	7,138.4	$	30,063.6
Net liability for future policy benefits	$	15,266.7	$	7,138.4	$	22,405.1
Other2	1.7		1,496.3		1,498.0
Total liability for future policy benefits	15,268.4		8,634.7		23,903.1
Less: Reinsurance recoverable related to future policy benefits	4.2		6,771.7		6,775.9
Net liability for future policy benefits, after reinsurance recoverable	$	15,264.2	$	1,863.0	$	17,127.2
1Issuances for Closed Block - All Other represents new claim incurrals.
2Other for Closed Block - All Other primarily includes our closed block group pension products and certain of our ceded closed block individual life products.

	December 31, 2023
	Long-term Care		All Other		Total Closed Block
	(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year	$	6,412.6	$	—	$	6,412.6
Beginning balance at original discount rate	6,236.1		—		6,236.1
Effect of changes in cash flow assumptions	1,641.3		—		1,641.3
Effect of actual variances from expected experience	44.1		—		44.1
Adjusted beginning of year balance	7,921.5		—		7,921.5
Interest accretion	374.7		—		374.7
Net premiums collected	(592.6)		—		(592.6)
Ending balance at original discount rate	7,703.6		—		7,703.6
Effect of change in discount rate assumptions	419.9		—		419.9
Balance, end of period	$	8,123.5	$	—	$	8,123.5
Present Value of Expected Future Policy Benefits
Balance, beginning of year	$	21,199.9	$	8,218.8	$	29,418.7
Beginning balance at original discount rate	20,221.6		8,630.7		28,852.3
Effect of changes in cash flow assumptions	2,009.4		—		2,009.4
Effect of actual variances from expected experience	113.1		4.0		117.1
Adjusted beginning of year balance	22,344.1		8,634.7		30,978.8
Issuances1	—		123.4		123.4
Interest accretion	1,151.4		358.9		1,510.3
Benefit payments	(846.2)		(1,022.4)		(1,868.6)
Ending balance at original discount rate	22,649.3		8,094.6		30,743.9
Effect of change in discount rate assumptions	2,048.4		(214.6)		1,833.8
Balance, end of period	$	24,697.7	$	7,880.0	$	32,577.7
Net liability for future policy benefits	$	16,574.2	$	7,880.0	$	24,454.2
Other2	23.1		1,638.1		1,661.2
Total liability for future policy benefits	16,597.3		9,518.1		26,115.4
Less: Reinsurance recoverable related to future policy benefits	4.5		7,462.4		7,466.9
Net liability for future policy benefits, after reinsurance recoverable	$	16,592.8	$	2,055.7	$	18,648.5
1Issuances for Closed Block - All Other represents new claim incurrals.
2Other for Closed Block - All Other primarily includes our closed block group pension products and certain of our ceded closed block individual life products.

The following tables summarize the amount of gross premiums and interest accretion reflected in the statements of income as well as the undiscounted and discounted expected gross premiums and expected future benefit payments and the weighted average interest rates for traditional long duration products in the Closed Block segment presented in the rollforward activity above.

	Year Ended December 31, 2025
	Long-term Care		All Other		Total Closed Block
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	707.2	$	158.5	$	865.7
Interest accretion	$	836.1	$	323.0	$	1,159.1

	Year Ended December 31, 2024
	Long-term Care		All Other		Total Closed Block
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	696.2	$	188.2	$	884.4
Interest accretion	$	798.0	$	345.2	$	1,143.2

	Year Ended December 31, 2023
	Long-term Care		All Other		Total Closed Block
	(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments	$	696.1	$	223.8	$	919.9
Interest accretion	$	776.7	$	358.9	$	1,135.6

	December 31, 2025
	Long-term Care			All Other			Total Closed Block
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	59,239.1		$	10,239.8		$	69,478.9
Expected future gross premiums	$	12,601.0		$	—		$	12,601.0
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	7,673.0		$	—		$	7,673.0
Weighted average interest rate:
Interest accretion rate	5.6		%	4.6		%	5.3		%
Current discount rate	5.5		%	5.0		%	5.4		%
Weighted average duration of the liability	14.7 years			7.1 years			12.4 years

	December 31, 2024
	Long-term Care			All Other			Total Closed Block
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	60,051.5		$	11,093.7		$	71,145.2
Expected future gross premiums	$	13,767.1		$	—		$	13,767.1
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	8,029.1		$	—		$	8,029.1
Weighted average interest rate:
Interest accretion rate	5.6		%	4.6		%	5.3		%
Current discount rate	5.6		%	5.4		%	5.5		%
Weighted average duration of the liability	15.7 years			7.2 years			12.9 years

	December 31, 2023
	Long-term Care			All Other			Total Closed Block
	(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments	$	61,447.7		$	11,893.7		$	73,341.4
Expected future gross premiums	$	14,486.4		$	—		$	14,486.4
Amount of discounted (at interest accretion rate):
Expected future gross premiums	$	8,241.7		$	—		$	8,241.7
Weighted average interest rate:
Interest accretion rate	5.6		%	4.6		%	5.2		%
Current discount rate	5.0		%	4.9		%	4.9		%
Weighted average duration of the liability	16.4 years			7.3 years			13.2 years

A reconciliation of the liability for future policy benefits reflected in the preceding rollforwards to the related liability balances in the consolidated balance sheets are as follows:

	December 31
	2025		2024		2023
	(in millions of dollars)
Liability for future policy benefits
Unum US1	$	8,477.5	$	8,617.7	$	9,352.7
Unum International1	2,396.0		2,156.2		2,293.2
Colonial Life	2,032.0		1,904.2		1,997.8
Closed Block1	24,923.2		23,903.1		26,115.4
Other products1	188.3		225.2		250.3
Total liability for future policy benefits	$	38,017.0	$	36,806.4	$	40,009.4

1Unum US excludes the dental and vision product line and medical stop-loss products, Unum International excludes certain products in our supplemental product line and Closed Block excludes our participating fund account, which represents policies issued by one of our subsidiaries prior to its 1986 conversion from a mutual stock life insurance company. The liabilities associated with these products are included within Other products.

Policyholder Account Balance

The following table presents the balances and changes in the policyholders' account balances:

	December 31, 2025
	Unum US - Voluntary Benefits		Colonial Life		Closed Block - All Other		Total
	(in millions of dollars, except weighted average data)
Balance, beginning of year	$	568.8	$	849.0	$	4,052.2	$	5,470.0
Premiums received	49.3		74.8		29.7		153.8
Policy charges1	(54.1)		(69.3)		(111.2)		(234.6)
Surrenders and withdrawals	(38.7)		(36.3)		(22.7)		(97.7)
Benefit payments	(6.0)		(7.5)		(208.5)		(222.0)
Interest credited	20.0		33.9		329.8		383.7
Other	9.1		0.6		4.1		13.8
Balance, end of period	548.4		845.2		4,073.4		5,467.0
Reserves in excess of account balance	117.3		13.7		38.4		169.4
Total policyholders' account balances	665.7		858.9		4,111.8		5,636.4
Less: Reinsurance recoverable related to policyholders' account balances	0.8		—		4,111.8		4,112.6
Net policyholders' account balances, after reinsurance recoverable	$	664.9	$	858.9	$	—	$	1,523.8
Weighted average crediting rate	3.6%		4.1%		8.5%		7.3%
Net amount at risk2	$	3,735.5	$	7,676.7	$	1,629.2	$	13,041.4
Cash surrender value	$	538.4	$	824.3	$	4,040.6	$	5,403.3
1Contracts included in the policyholders' account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
2For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

	December 31, 2024
	Unum US - Voluntary Benefits		Colonial Life		Closed Block - All Other		Total
	(in millions of dollars, except weighted average data)
Balance, beginning of year	$	578.6	$	852.9	$	4,082.7	$	5,514.2
Premiums received	53.7		79.5		26.5		159.7
Policy charges1	(56.8)		(71.9)		(101.4)		(230.1)
Surrenders and withdrawals	(30.9)		(38.0)		(12.4)		(81.3)
Benefit payments	(6.0)		(7.8)		(245.1)		(258.9)
Interest credited	20.8		34.1		300.6		355.5
Other	9.4		0.2		1.3		10.9
Balance, end of period	568.8		849.0		4,052.2		5,470.0
Reserves in excess of account balance	106.9		13.5		43.3		163.7
Total policyholders' account balances	675.7		862.5		4,095.5		5,633.7
Less: Reinsurance recoverable related to policyholders' account balances	0.8		—		4,095.5		4,096.3
Net policyholders' account balances, after reinsurance recoverable	$	674.9	$	862.5	$	—	$	1,537.4
Weighted average crediting rate	3.7%		4.1%		7.6%		6.7%
Net amount at risk2	$	4,132.2	$	8,201.1	$	1,725.0	$	14,058.3
Cash surrender value	$	559.0	$	819.8	$	4,031.3	$	5,410.1
1Contracts included in the policyholders' account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
2For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

	December 31, 2023
	Unum US - Voluntary Benefits		Colonial Life		Closed Block - All Other		Total
	(in millions of dollars, except weighted average data)
Balance, beginning of year	$	586.8	$	852.4	$	4,159.4	$	5,598.6
Premiums received	58.5		84.9		31.7		175.1
Policy charges1	(60.4)		(74.7)		(107.2)		(242.3)
Surrenders and withdrawals	(33.3)		(36.8)		(18.8)		(88.9)
Benefit payments	(9.7)		(7.2)		(216.2)		(233.1)
Interest credited	22.2		34.2		322.1		378.5
Other	14.5		0.1		(88.3)		(73.7)
Balance, end of period	578.6		852.9		4,082.7		5,514.2
Reserves in excess of account balance	99.5		16.9		37.1		153.5
Total policyholders' account balances	678.1		869.8		4,119.8		5,667.7
Less: Reinsurance recoverable related to policyholders' account balances	0.9		—		4,119.8		4,120.7
Net policyholders' account balances, after reinsurance recoverable	$	677.2	$	869.8	$	—	$	1,547.0
Weighted average crediting rate	3.9%		4.1%		8.0%		7.0%
Net amount at risk2	$	4,495.6	$	8,760.1	$	1,824.3	$	15,080.0
Cash surrender value	$	566.9	$	813.5	$	4,062.3	$	5,442.7
1Contracts included in the policyholders' account balances are generally charged a premium and/or monthly assessments on the basis of the account balance.
2For those guarantees of benefits that are payable in the event of death, the net amount at risk is generally defined as the current guaranteed minimum death benefit in excess of the current account balance at the balance sheet date.

Policyholder Account Balance, Guaranteed Minimum Crediting Rate

The balance of the account values by range of guaranteed minimum crediting rates and the related range of difference, in basis points, between rates being credited to policyholders and the respective guaranteed minimums is as follows.

	December 31, 2025
Range of Guaranteed Minimum Crediting Rate	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater than 150 Basis Points Above		Total
	(in millions of dollars)
	Unum US - Voluntary Benefits
3.00% - 3.99%	$	85.6	$	—	$	—	$	—	$	85.6
4.00% - 4.99%	232.2		201.3		—		—		433.5
5.00% - 6.00%	29.3		—		—		—		29.3
	347.1		201.3		—		—		548.4
	Colonial Life
4.00% - 5.00%	838.8		6.4		—		—		845.2
	Closed Block - All Other
3.00% - 5.99%	1,415.4		29.0		6.5		—		1,450.9
6.00% - 8.99%	25.5		—		—		—		25.5
9.00% - 11.99%	2,377.9		—		—		—		2,377.9
12.00% - 15.00%	219.1		—		—		—		219.1
	4,037.9		29.0		6.5		—		4,073.4
Total	$	5,223.8	$	236.7	$	6.5	$	—	$	5,467.0

	December 31, 2024
Range of Guaranteed Minimum Crediting Rate	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater than 150 Basis Points Above		Total
	(in millions of dollars)
	Unum US - Voluntary Benefits
3.00% - 3.99%	$	89.3	$	—	$	—	$	—	$	89.3
4.00% - 4.99%	218.5		195.0		35.1		—		448.6
5.00% - 6.00%	30.9		—		—		—		30.9
	338.7		195.0		35.1		—		568.8
	Colonial Life
4.00% - 5.00%	842.7		6.3		—		—		849.0
	Closed Block - All Other
3.00% - 5.99%	1,280.2		226.6		25.4		—		1,532.2
6.00% - 8.99%	26.0		—		—		—		26.0
9.00% - 11.99%	1,274.8		1,157.4		—		—		2,432.2
12.00% - 15.00%	—		61.8		—		—		61.8
	2,581.0		1,445.8		25.4		—		4,052.2
Total	$	3,762.4	$	1,647.1	$	60.5	$	—	$	5,470.0

	December 31, 2023
Range of Guaranteed Minimum Crediting Rate	At Guaranteed Minimum		1 Basis Point - 50 Basis Points Above		51 Basis Points - 150 Basis Points Above		Greater than 150 Basis Points Above		Total
	(in millions of dollars)
	Unum US - Voluntary Benefits
3.00% - 3.99%	$	91.9	$	—	$	—	$	—	$	91.9
4.00% - 4.99%	227.1		190.1		37.7		—		454.9
5.00% - 6.00%	31.8		—		—		—		31.8
	350.8		190.1		37.7		—		578.6
	Colonial Life
4.00% - 5.00%	846.7		6.2		—		—		852.9
	Closed Block - All Other
3.00% - 5.99%	526.8		1,081.8		30.7		—		1,639.3
6.00% - 8.99%	1.3		31.0		—		—		32.3
9.00% - 11.99%	318.4		2,036.5		—		—		2,354.9
12.00% - 15.00%	—		56.2		—		—		56.2
	846.5		3,205.5		30.7		—		4,082.7
Total	$	2,044.0	$	3,401.8	$	68.4	$	—	$	5,514.2

Deferred Policy Acquisition Costs by Segment

The following tables display the changes in DAC throughout the year:

	December 31, 2025
	Unum US		Unum International		Colonial Life		Total
	(in millions of dollars)
Balance, beginning of year	$	1,260.6	$	53.0	$	1,529.2	$	2,842.8
Capitalization	331.7		22.0		343.4		697.1
Amortization expense	(283.3)		(10.7)		(233.1)		(527.1)
Foreign currency	—		7.8		—		7.8
Other1	(100.3)		—		—		(100.3)
Balance, end of year	$	1,208.7	$	72.1	$	1,639.5	$	2,920.3
1Reflects the impacts of DAC written off related to the Fortitude Re reinsurance transaction. See Note 14 for further discussion of the reinsurance transaction.

	December 31, 2024
	Unum US		Unum International		Colonial Life		Total
	(in millions of dollars)
Balance, beginning of year	$	1,232.2	$	46.9	$	1,435.4	$	2,714.5
Capitalization	320.9		17.8		312.8		651.5
Amortization expense	(292.5)		(9.5)		(219.0)		(521.0)
Foreign currency	—		(2.2)		—		(2.2)
Balance, end of year	$	1,260.6	$	53.0	$	1,529.2	$	2,842.8

	December 31, 2023
	Unum US		Unum International		Colonial Life		Total
	(in millions of dollars)
Balance, beginning of year	$	1,185.1	$	37.0	$	1,337.9	$	2,560.0
Capitalization	314.7		14.6		302.9		632.2
Amortization expense	(267.6)		(8.4)		(205.4)		(481.4)
Foreign currency	—		3.7		—		3.7
Balance, end of year	$	1,232.2	$	46.9	$	1,435.4	$	2,714.5

	December 31, 2025
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Dental and Vision		Total Unum US
	(in millions of dollars)
Balance, beginning of year	$	61.1	$	51.1	$	614.3	$	521.2	$	12.9	$	1,260.6
Capitalization	60.7		45.5		123.3		87.4		14.8		331.7
Amortization expense	(58.2)		(39.0)		(114.8)		(56.7)		(14.6)		(283.3)
Other1	—		—		—		(100.3)		—		(100.3)
Balance, end of year	$	63.6	$	57.6	$	622.8	$	451.6	$	13.1	$	1,208.7
1Reflects the impacts of DAC written off related to the Fortitude Re reinsurance transaction. See Note 14 for further discussion of the reinsurance transaction.

	December 31, 2024
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Dental and Vision		Total Unum US
	(in millions of dollars)
Balance, beginning of year	$	63.6	$	48.9	$	610.6	$	497.8	$	11.3	$	1,232.2
Capitalization	62.2		40.6		120.2		83.4		14.5		320.9
Amortization expense	(64.7)		(38.4)		(116.5)		(60.0)		(12.9)		(292.5)
Balance, end of year	$	61.1	$	51.1	$	614.3	$	521.2	$	12.9	$	1,260.6

	December 31, 2023
	Group Disability		Group Life and AD&D		Voluntary Benefits		Individual Disability		Dental and Vision		Total Unum US
	(in millions of dollars)
Balance, beginning of year	$	61.0	$	49.3	$	601.0	$	464.4	$	9.4	$	1,185.1
Capitalization	60.2		38.6		115.8		87.4		12.7		314.7
Amortization expense	(57.6)		(39.0)		(106.2)		(54.0)		(10.8)		(267.6)
Balance, end of year	$	63.6	$	48.9	$	610.6	$	497.8	$	11.3	$	1,232.2