In 2024, we helped people at every stage of life.

protected 47 million individuals and families

partnered with more than 178,000 companies

delivered $8 billion in benefits

Review of 2024 Performance

Our 2024 financial results capped a decade of strong and consistent performance, driven by a compelling value proposition and effective capital management approach.

Unum Group saw strong demand from companies and their employees for the benefits and services we offer. This translated into steady, disciplined topline growth across most product lines. We remain committed to elevating the experience for companies and their employees through continued investments in our industry-leading digital capabilities. These advancements helped drive greater customer retention and — coupled with our ongoing focus on underwriting and operational excellence — double-digit bottom-line growth and attractive returns for shareholders.

Equally noteworthy was our success on the capital stewardship front. We continue to generate attractive cash flows from our businesses and leverage that capital to advance many of our long-term goals. This has allowed us to elevate the pace of our share repurchases and continue our trend of increasing our dividend.

Importantly, we’ve taken steps to further drive predictability and remove uncertainty in the performance of our Closed Block segment. Earlier this year, we announced a transaction with Fortitude Re to reinsure a portion of our long-term care business. Upon completion of this transaction, which we anticipate closing this year, we will reduce our exposure to our long-term care liabilities. In addition, an internal restructuring initiative will further enhance protections for policyholders and reduce capital volatility in the business. We are very pleased to have achieved these milestones, which will allow us to further focus our energies on growing our core businesses.

Our consistent execution and proactive management of the various aspects of our business reflect our purpose-driven strategy that has resonated through different economic cycles. This clear-eyed approach has delivered sustained growth over the last decade, with compound annual growth rates of 4% for core premiums, 9% for book value per share excluding AOCI and 10% for after-tax adjusted operating earnings per share.

Delivering for our customers

53% of global workers

felt there is too much change happening all at once, and 35% said the nature of their role has changed in the last year, according to PwC’s 2024 Global Workforce Hopes and Fears Survey.

The workplace environment has never been more complex than it is today. Economic, technology and policy dynamics continue to increase the pace of change, creating new uncertainties for employers, and with them, new opportunities to deliver value. Companies are balancing a variety of regulatory guidelines across overlapping local, state and federal jurisdictions. Growing financial, mental health and caregiver challenges highlight the evolving needs of employees. Both groups are striving to create a workplace environment where people can easily access the support they need to thrive.

We have built our market leadership position by relentlessly focusing on understanding and developing solutions that address these needs. Our suite of employee benefits and services covers a wide range of needs for every stage of working life. The complex environment in which we operate also demands deep partnerships with employers built on sophisticated and modern support for their evolving workplace requirements. By leveraging our decades of experience helping employers and the expertise of our people, we help companies take better care of their employees.

Over the last several years, we have made significant investments to develop and deploy digital capabilities that help our customers adapt to their shifting needs. We have enhanced our services to address a range of challenges and streamlined the user experience for our customers and distribution partners.

Much of our recent technology investment has helped further integrate our products with the leading benefits administration platforms and our broker distribution partners. Through Broker Connect and HR Connect, we seamlessly integrate with our customers’ full benefit offerings to offer fast and modern access to coverage and services for employees. Behind the scenes, these integrations streamline billing and other administrative activities, saving employers time and resources. For businesses without these platforms, our MyUnum and Gathr® portals provide the modern experiences that these customers deserve

Delivering benefits is where the rubber meets the road for employees. Customer portals across our brands allow employees to quickly file claims, upload supporting documentation and track status — all at their fingertips and on their time. Solutions like Unum Care Hub and Help@Hand in the U.K. provide easy access to wellness and mental health resources for employees. In the expanding absence management space, services like Unum Total Leave allow employees to quickly and easily access leave benefits, request leave and keep their employers updated on their leave status. For employers, new capabilities like Unum Insights provide a modern and responsible platform for viewing claim and leave records — providing HR professionals the information they need to support their employees through the life cycle of a claim or leave and give them aggregate details of claims and leave across their organizations.

Anchored by our purpose

Our clear customer focus is anchored in our purpose of helping the working world thrive throughout life’s moments. These words guide our actions every day and remind us of the critical role we play in delivering financial protection. Employees and their families rely on our benefits as an integral part of their financial and wellbeing safety net. Employers depend on our benefits and leave expertise to create the workplace experiences their employees expect. Every interaction is an opportunity to live our brand promise of helping people and enabling businesses to deliver for their employees.

We know that we can best deliver for others by creating a thriving culture at Unum Group. It starts with a commitment to putting customers first. For the fifth year in a row, we have been recognized as one of the World’s Most Ethical Companies by Ethisphere® — a validation of our steadfast commitment to integrity and respect for each other and those we serve. Also foundational is our inclusive workplace that supports a sense of belonging for all employees. Together, we explore what’s possible in our quest to find the best solutions, are accountable to ourselves and our customers to create positive experiences, and above all, see the human in every interaction. Our people thrive because we foster a dynamic and rewarding environment, emphasize wellbeing and listen to each other across all levels of the organization.

Our employees are passionate not only about helping customers, but also about driving positive change in our communities. In 2024, we donated $12.8 million to charitable partners to support the education, health and wellbeing of those around us. Our matching gifts program and company volunteer events elevated the direct impact of our people on these and other causes. We are proud of the deep and lasting heritage we have as reliable partners in our communities, and we know that by leveraging our impact for good, we are planting the seeds for a better tomorrow.