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![]() | Exhibit 99.1 | |
1 Fountain Square | ||
Chattanooga, TN 37402 | ||
www.unum.com |
FOR IMMEDIATE RELEASE | |||
news | Contacts | ||
INVESTORS | Tom White | 423 294 8996 | |
Matt Barnett | 423 294 7498 | ||
MEDIA | Jim Sabourin | 423 294 6300 | |
UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. |
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Unum Group's Definitive Proxy Statement (Form DEF 14A) filed after their 2016 10-K Annual Report includes:
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The other expense ratio decreased in 2015 relative to 2014 due to a continued focus on expense management initiatives.
The accounting estimates deemed to be most critical to our financial position and results of operations are those related to reserves for policy and contract benefits, deferred acquisition costs, valuation of investments, pension and postretirement benefit plans, income taxes, and contingent liabilities.
It is possible that variability in any of our reserve assumptions, including, but not limited to, interest rates, mortality, morbidity, premium rate increases, benefit change elections, and persistency, could result in a material impact on the adequacy of our reserves, including adjustments to reserves established under loss recognition.
Interest and debt expense was lower in 2015 relative to 2014 due primarily to $13.2 million of costs incurred in 2014 related to the early retirement of a portion of the debt issued by one of our U.K. subsidiaries.
Although the low interest rate environment continues to place pressure on our profit margins and could unfavorably impact the adequacy of our reserves for some products, we continue to analyze and employ strategies that we believe will help us navigate this environment and allow us to maintain solid operating margins and significant financial flexibility to support the needs of our businesses, while also continuing to return capital to our shareholders.
During the fourth quarter of...Read more
Interest and other expenses decreased...Read more
If the policy reserves determined...Read more
This was partially offset by...Read more
The unrecognized net actuarial loss...Read more
Our amortization of deferred acquisition...Read more
The unrecognized net actuarial gain...Read more
The sharp drop in the...Read more
If the discount rate is...Read more
Our current share repurchase program...Read more
The U.K. defined benefit pension...Read more
A decrease in demand for...Read more
We defer incremental direct costs...Read more
However, if economic conditions worsen...Read more
Premium income was higher in...Read more
Net investment income declined in...Read more
We believe future profit margin...Read more
Interest and debt expense in...Read more
The favorable group long-term disability...Read more
In applying this method, we...Read more
In 2013, we adopted plan...Read more
Thereafter, the policy reserves for...Read more
Our effective tax rates for...Read more
We believe that consistent operating...Read more
We believe our success will...Read more
We expect to further improve...Read more
The policy reserves build up...Read more
Our pension amendments and the...Read more
Premium income increased in 2014...Read more
We continue to service a...Read more
Although our profit margins continue...Read more
Interest and other expenses were...Read more
The non-GAAP financial measures of...Read more
Sales in our individual disability...Read more
Our Colonial Life segment reported...Read more
Net investment income declined in...Read more
Estimates and assumptions could change...Read more
It is our practice to...Read more
The actual rate of return...Read more
Premium income for individual disability...Read more
The OPEB plan was closed...Read more
If oil prices were to...Read more
The fair value of plan...Read more
We expect to see continued...Read more
Total premium income decreased in...Read more
Interest and debt expense in...Read more
Claim incidence and claim resolution...Read more
Interest and debt expense for...Read more
If the 2014 and 2013...Read more
Our 2013 net realized investment...Read more
Commercial market sales increased in...Read more
Net investment income declined in...Read more
Premium income increased in 2014...Read more
Inputs to valuation techniques refer...Read more
The low interest rate environment...Read more
Because the key policy reserve...Read more
Net investment income declined in...Read more
Net Increase in Cash and...Read more
In 2014, our U.S. earnings...Read more
We believe operating revenue and...Read more
When market opportunities arise we...Read more
Disciplined execution of our growth...Read more
Commercial market sales increased in...Read more
Investment income growth is dependent...Read more
The other expense ratio for...Read more
In 2015, we further amended...Read more
Our weighted average common shares...Read more
A downgrade of our financial...Read more
We made no contributions to...Read more
Premium income increased in 2014...Read more
At the time of the...Read more
Favorable benefits experience in 2014...Read more
The other expense ratio for...Read more
Sales of voluntary benefits were...Read more
Sales of voluntary benefits were...Read more
Premium income was higher in...Read more
U.S. plan from the life...Read more
Also included in our 2014...Read more
At December 31, 2015, none...Read more
As a result of these...Read more
Sales, persistency of the existing...Read more
Sales of our group products...Read more
Premium income increased in 2015...Read more
Benefits experience was favorable in...Read more
During 2015, the fair value...Read more
However, deterioration in the credit...Read more
Premium income continues to decline...Read more
The fair value of plan...Read more
At December 31, 2015, our...Read more
Benefits experience was favorable in...Read more
Premium income grew 5.1 percent...Read more
Our current credit exposure on...Read more
Our current credit exposure on...Read more
The following table displays policy...Read more
Available reserving methods utilized to...Read more
We derive our assumptions from...Read more
Risk tolerance is established through...Read more
Our effective income tax rate...Read more
We believe that these ranges...Read more
In addition, for policies offering...Read more
Mortality rate - This assumption...Read more
The release of active life...Read more
While we expect the low...Read more
Group disability sales increased in...Read more
In 2013, we purchased and...Read more
Commissions were higher in 2015...Read more
Sales were higher in 2015...Read more
Sales were higher in 2014...Read more
Key assumptions used in developing...Read more
Net investment income declined in...Read more
Partially offsetting this favorable year...Read more
The favorable group life experience...Read more
Before-tax operating income, which excludes...Read more
It is possible that our...Read more
Our OPEB plan represents a...Read more
Claim reserves were increased $49.1...Read more
The primary assumptions used to...Read more
We recognize investment income on...Read more
Supplemental sales were higher in...Read more
Premium income increased 6.4 percent...Read more
We expect the low interest...Read more
The two fundamental assumptions in...Read more
These assets represent life insurance...Read more
The effective yield is recalculated...Read more
We believe the outlook for...Read more
Excluding this reserve increase, long-term...Read more
On an annual basis for...Read more
The amortization of deferred acquisition...Read more
Key drivers in our 2016...Read more
The implementation of premium rate...Read more
Premium income growth is dependent...Read more
We do not have exposure...Read more
The amount of income taxes...Read more
Our analysis of reserve discount...Read more
In our approach to investing...Read more
In determining when a decline...Read more
The after-tax impacts of these...Read more
We have established an investment...Read more
Benefits experience was unfavorable in...Read more
Key assumptions with respect to...Read more
The rate increases reflect current...Read more
Long-term Care Reserve Increase, Net...Read more
Other income decreased in 2015...Read more
During 2015, claim resolution rates...Read more
We have a separate defined...Read more
Benefit Obligation and Fair Value...Read more
Newly issued private placement securities...Read more
Unum US sales increased 4.2...Read more
At December 31, 2015, we...Read more
We expect operating revenue to...Read more
We may at times also...Read more
Our cash flows for 2015...Read more
During 2015, we recorded a...Read more
We believe the need for...Read more
We believe additional improvement in...Read more
At the time of the...Read more
Included in our fourth quarter...Read more
Trends in new sales, as...Read more
The sales mix in the...Read more
The sales mix in the...Read more
Public sector sales for 2014...Read more
We had $29.0 million of...Read more
The return on plan assets...Read more
In the group long-term disability...Read more
Although all available and applicable...Read more
Premium income in local currency...Read more
Other income, which is comprised...Read more
The amortization of deferred acquisition...Read more
The growth in the large...Read more
Excluding this reserve increase, benefits...Read more
At December 31, 2015, the...Read more
Unclaimed Death Benefits Reserve Increase,...Read more
The growth in our core...Read more
Our investments in issuers in...Read more
Other income, which includes the...Read more
Fair Value of Fixed Maturity...Read more
Fair Value of Fixed Maturity...Read more
Using our revised best estimate...Read more
The discussion and analysis presented...Read more
Underpinning our strategy is our...Read more
We believe it provides investors...Read more
Group life sales within the...Read more
Colonial Life sales increased 6.9...Read more
The assumptions we established in...Read more
Individual disability sales, which are...Read more
Cash is applied to the...Read more
The discount rate, expected long-term...Read more
Additional basis points were added...Read more
Our net investment income may...Read more
Concurrent with our amendments to...Read more
Our fair value measurements could...Read more
During 2013, we purchased and...Read more
The deferral of acquisition costs...Read more
Actual prepayment experience is reviewed...Read more
Investing cash inflows consist primarily...Read more
The amount recognized as a...Read more
Group long-term disability and group...Read more
Our investment portfolio has exposure...Read more
Sales in group long-term disability...Read more
Our continued investment in our...Read more
Premium income was higher in...Read more
A maximum of 10 percent...Read more
Premium income for long-term care...Read more
Our assumption update for mortality...Read more
The long-term nature of our...Read more
Key assumptions are persistency, mortality...Read more
The calculation of policy and...Read more
Sales shown in the preceding...Read more
contract benefits equaled $41.4 billion...Read more
Within the group disability market,...Read more
We use derivative financial instruments...Read more
Excluding this reserve increase, long-term...Read more
Supplemental benefits experience was favorable...Read more
There are significant growth opportunities...Read more
Net Realized Investment Gain Loss...Read more
Net Realized Investment Gain Loss,...Read more
Net Realized Investment Gain Loss...Read more
Net Realized Investment Gain Loss...Read more
Commissions and the deferral of...Read more
Commissions and the deferral of...Read more
We believe our capital and...Read more
However, in the event that...Read more
As of December 31, 2015,...Read more
Benefits experience was favorable in...Read more
Net investment income was lower...Read more
Excluding these two reserve adjustments,...Read more
During 2016, we expect to...Read more
We anticipate returning to more...Read more
Adjusting for these items, after-tax...Read more
Operating revenue, which excludes net...Read more
used in the measurement of...Read more
During 2015, our key assumptions...Read more
The remaining two-thirds of our...Read more
We do, however, see genuine...Read more
Benefits experience for the individual...Read more
The group life waiver of...Read more
Unfavorable U.S. economic conditions and...Read more
Our premium rate increase assumptions...Read more
Financial Statements, Disclosures and Schedules
Inside this 10-K Annual Report
Material Contracts, Statements, Certifications & more
Unum Group provided additional information to their SEC Filing as exhibits
Ticker: UNM
CIK: 5513
Form Type: 10-K Annual Report
Accession Number: 0000005513-16-000045
Submitted to the SEC: Wed Feb 24 2016 3:57:41 PM EST
Accepted by the SEC: Wed Feb 24 2016
Period: Thursday, December 31, 2015
Industry: Accident And Health Insurance