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Unum UNM Closed Block — Total liability for future policy benefits

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JXNClosed Block Annuity — Liability for Future Policy Benefit, Expected Future Policy Benefit, Benefit Payment
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JXNClosed Block Annuity — Liability for Future Policy Benefit, after Reinsurance
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Other financials

Income statement

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Revenue$3.4B+0.3%
Operating income$501.8M+2.4%
Net income$256.9M-23.5%
EPS (diluted)$1.61-16.1%

Balance sheet

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Cash & equivalents$199.2M-83.3%
Total debt$3.8B+0.5%
Total equity$10.8B-4.5%
Total assets$63.5B+1.0%

Cash flow

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Operating cash flow$503.5M+44.7%
CapEx$29.2M+4.7%
Free cash flow$474.3M+48.2%

Valuation

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Market cap$14.1B+17.5%
Enterprise value$17.67B+21.4%
P/E20.1×+12.2×
P/S1.1×+0.1×

Profitability

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Net margin5.3%-6.5pp
FCF margin11.2%+1.4pp

Returns & leverage

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Return on equity6.4%-7.6pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by Unum in its filing.

Tagged under the XBRL concept unm:LiabilityForFuturePolicyBenefitBeforeReinsuranceAfterOther.

The source filing: Unum’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:25 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0000005513-26-000075
Line itemLong-term CareAll OtherTotal Closed Block
Balance, end of period$24,097.1$6,459.7$30,556.8
Net liability for future policy benefits$16,840.3$6,459.7$23,300.0
Other24.31,382.51,386.8
Total liability for future policy benefits16,844.67,842.224,686.8
Less: Reinsurance recoverable related to future policy benefits3,250.46,141.19,391.5
Net liability for future policy benefits, after reinsurance recoverable$13,594.2$1,701.1$15,295.3
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.

Item 1. Financial Statements (Unaudited):

FAQ

What is Unum's closed block — total liability for future policy benefits?
Unum (UNM) reported closed block — total liability for future policy benefits of $24.69B in Q2 2026.
How has Unum's closed block — total liability for future policy benefits changed year-over-year?
Unum's closed block — total liability for future policy benefits increased by 2.9% year-over-year, from $24B to $24.69B.
What is the long-term trend for Unum's closed block — total liability for future policy benefits?
Over 3 years (2022 to 2025), Unum's closed block — total liability for future policy benefits has grown at a -2.5% compound annual growth rate (CAGR), from $106.11B to $98.2B.
What does closed block — total liability for future policy benefits mean?
The gross actuarial estimate of the total obligations for future policy benefits within a closed block of business before any offsets. This metric represents the total exposure the company faces regarding legacy insurance contracts. It is a fundamental measure of the scale of the company's long-term insurance liabilities.

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