Unum Group reported third‑quarter 2025 financial results with net income of $39.7 million ($0.23 per diluted share) compared with $645.7 million ($3.46 per diluted share) in the same quarter a year earlier. Adjusted operating income was $357.1 million ($2.09 per diluted share), down from $398.0 million ($2.13 per diluted share) in Q3 2024. Revenue totaled $3.38 billion, beating the consensus estimate of $3.33 billion.
The company’s core business segments continued to generate solid operating income: Unum US contributed $334.9 million, Unum International $38.8 million, and Colonial Life $116.6 million. Premium growth in the core business was 2.9% on a constant‑currency basis, and the adjusted operating return on equity reached 21.4%.
A one‑time reserve increase of $377.8 million related to assumption updates reduced net income, while a net investment gain of $101.2 million and a $38.3 million amortization of reinsurance costs were also reported. The reserve increase reflects annual GAAP assumption updates in the long‑term care business, and the company completed a long‑term care reinsurance transaction with Fortitude Re in July 2025 to reduce legacy exposure.
Unum provided guidance for the fourth quarter, forecasting adjusted operating earnings per share that are $0.10 lower than the prior quarter. The company also revised its full‑year 2025 outlook for adjusted operating income per share to approximately $8.50. Shareholder returns for the year to date totaled about $980 million, including share repurchases and dividends.
The results illustrate the impact of reserve assumption updates on earnings while highlighting the resilience of Unum’s core operations and its ongoing efforts to manage legacy long‑term care exposure.
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