v3.25.1
Financial Services, Insurance (Tables)
 3 Months Ended
Mar. 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
March 31
20252024
(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year$13,930.6$14,417.8
Beginning balance at original discount rate14,266.9 14,243.2 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(183.2)(110.8)
Adjusted beginning of year balance14,083.714,132.4
Issuances502.2435.9
Interest accretion163.2163.5
Net premiums collected(435.4)(426.7)
Foreign currency21.2(3.4)
Ending balance at original discount rate14,334.914,301.7
Effect of change in discount rate assumptions(181.4)(113.1)
Balance, end of period$14,153.5$14,188.6
Present Value of Expected Future Policy Benefits
Balance, beginning of year$48,920.1$52,423.6
Beginning balance at original discount rate50,778.2 51,305.7 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(289.0)(205.9)
Adjusted beginning of year balance50,489.251,099.8
Issuances1
1,272.51,187.8
Interest accretion572.7579.5
Benefit payments(1,618.7)(1,598.1)
Foreign currency103.6(24.2)
Ending balance at original discount rate50,819.351,244.8
Effect of change in discount rate assumptions(1,422.9)(377.5)
Balance, end of period$49,396.4$50,867.3
Net liability for future policy benefits$35,242.9$36,678.7
Other2
1,580.0 1,704.1 
Total liability for future policy benefits36,822.9 38,382.8 
Less: Reinsurance recoverable related to future policy benefits6,888.2 7,504.0 
Net liability for future policy benefits, after reinsurance recoverable$29,934.7$30,878.8
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
March 31
20252024
(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments$2,592.1$2,507.8
Interest accretion$409.5$416.0

Consolidated
March 31
20252024
(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments$103,072.4 $104,905.0 
Expected future gross premiums$39,765.5 $39,072.6 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$26,189.2 $25,772.6 
Weighted average interest rate:
Interest accretion rate4.9 %4.9 %
Current discount rate5.2 %5.1 %
Weighted average duration of the liability11.4 years11.5 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.
March 31, 2025
Group DisabilityGroup Life and AD&DVoluntary 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$2,442.7
Beginning balance at original discount rate——1,335.31,230.72,566.0
Effect of changes in cash flow assumptions—————
Effect of actual variances from expected experience——(55.1)(48.0)(103.1)
Adjusted beginning of year balance——1,280.21,182.72,462.9
Issuances——250.793.4344.1
Interest accretion——12.413.025.4
Net premiums collected——(58.2)(47.1)(105.3)
Ending balance at original discount rate——1,485.11,242.02,727.1
Effect of change in discount rate assumptions——(78.6)(14.9)(93.5)
Balance, end of period$—$—$1,406.5$1,227.1$2,633.6
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 rate4,907.5852.62,614.63,191.111,565.8
Effect of changes in cash flow assumptions—————
Effect of actual variances from expected experience(45.3)(20.9)(58.1)(54.5)(178.8)
Adjusted beginning of year balance4,862.2831.72,556.53,136.611,387.0
Issuances1
410.6203.6260.895.7970.7
Interest accretion42.14.827.737.0111.6
Benefit payments(452.4)(220.9)(74.2)(74.5)(822.0)
Ending balance at original discount rate4,862.5819.22,770.83,194.811,647.3
Effect of change in discount rate assumptions(133.9)(13.2)(229.2)(55.9)(432.2)
Balance, end of period$4,728.6$806.0$2,541.6$3,138.9$11,215.1
Net liability for future policy benefits$4,728.6$806.0$1,135.1$1,911.8$8,581.5
Other0.20.82.825.829.6
Total liability for future policy benefits4,728.8806.81,137.91,937.68,611.1
Less: Reinsurance recoverable related to future policy benefits25.56.213.373.4118.4
Net liability for future policy benefits, after reinsurance recoverable$4,703.3$800.6$1,124.6$1,864.2$8,492.7
1Issuances include new policy issuances for most product lines. Issuances for Unum US group disability and Unum US group life and AD&D represents new claim incurrals.
March 31, 2024
Group DisabilityGroup Life and AD&D
Voluntary Benefits
Individual Disability
Total Unum US
(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year$—$—$1,134.7$1,296.7$2,431.4
Beginning balance at original discount rate——1,192.51,294.42,486.9
Effect of changes in cash flow assumptions—————
Effect of actual variances from expected experience——(80.7)(17.9)(98.6)
Adjusted beginning of year balance——1,111.81,276.52,388.3
Issuances——213.440.8254.2
Interest accretion——10.213.924.1
Net premiums collected——(50.9)(48.9)(99.8)
Ending balance at original discount rate——1,284.51,282.32,566.8
Effect of change in discount rate assumptions——(74.8)(18.2)(93.0)
Balance, end of period$—$—$1,209.7$1,264.1$2,473.8
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 rate5,277.1936.52,422.03,313.911,949.5
Effect of changes in cash flow assumptions—————
Effect of actual variances from expected experience(73.0)(19.1)(95.5)(24.0)(211.6)
Adjusted beginning of year balance5,204.1917.42,326.53,289.911,737.9
Issuances1
386.6211.6219.342.0859.5
Interest accretion46.85.424.538.7115.4
Benefit payments(460.7)(228.9)(61.4)(68.2)(819.2)
Ending balance at original discount rate5,176.8905.52,508.93,302.411,893.6
Effect of change in discount rate assumptions(180.7)(20.0)(156.8)(38.7)(396.2)
Balance, end of period$4,996.1$885.5$2,352.1$3,263.7$11,497.4
Net liability for future policy benefits$4,996.1$885.5$1,142.4$1,999.6$9,023.6
Other0.20.92.626.730.4
Total liability for future policy benefits4,996.3886.41,145.02,026.39,054.0
Less: Reinsurance recoverable related to future policy benefits29.18.713.9154.1205.8
Net liability for future policy benefits, after reinsurance recoverable$4,967.2$877.7$1,131.1$1,872.2$8,848.2
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.

March 31, 2025
Group DisabilityGroup 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$779.6$520.3$219.9$170.8$1,690.6
Interest accretion$42.1$4.8$15.3$24.0$86.2

March 31, 2024
Group DisabilityGroup 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$754.1$494.4$207.8$165.4$1,621.7
Interest accretion$46.8$5.4$14.3$24.8$91.3

March 31, 2025
Group DisabilityGroup 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$5,862.0 $930.0 $5,868.6 $5,138.4 $17,799.0 
Expected future gross premiums$— $— $6,325.6 $5,812.6 $12,138.2 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$— $— $4,121.9 $4,181.3 $8,303.2 
Weighted average interest rate:
Interest accretion rate4.2 %2.4 %5.0 %5.1 %4.3 %
Current discount rate4.7 %2.7 %5.5 %5.1 %4.7 %
Weighted average duration of the liability4.1 years2.5 years18.4 years9.5 years7.1 years
March 31, 2024
Group DisabilityGroup 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$6,251.2 $1,030.5 $5,330.0 $5,297.1 $17,908.8 
Expected future gross premiums$— $— $5,771.9 $5,699.9 $11,471.8 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$— $— $3,896.1 $4,096.1 $7,992.2 
Weighted average interest rate:
Interest accretion rate4.0 %2.3 %5.0 %5.1 %4.2 %
Current discount rate4.9 %2.8 %5.2 %5.1 %4.7 %
Weighted average duration of the liability4.2 years2.6 years18.3 years9.6 years7.0 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.

March 31
20252024
(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year$276.1$270.3
Beginning balance at original discount rate314.2 298.4 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience1.1 7.2 
Adjusted beginning of year balance315.3305.6
Issuances8.38.8
Interest accretion3.03.0
Net premiums collected(7.8)(7.3)
Foreign currency21.2(3.4)
Ending balance at original discount rate340.0306.7
Effect of change in discount rate assumptions(37.5)(29.9)
Balance, end of period$302.5$276.8
Present Value of Expected Future Policy Benefits
Balance, beginning of year$2,391.6$2,527.4
Beginning balance at original discount rate2,641.5 2,687.1 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(7.3)(0.5)
Adjusted beginning of year balance2,634.22,686.6
Issuances1
117.6113.9
Interest accretion17.516.9
Benefit payments(138.9)(132.1)
Foreign currency103.6(24.2)
Ending balance at original discount rate2,734.02,661.1
Effect of change in discount rate assumptions(266.5)(206.9)
Balance, end of period$2,467.5$2,454.2
Net liability for future policy benefits$2,165.0$2,177.4
Other45.8 35.9 
Total liability for future policy benefits2,210.8 2,213.3 
Less: Reinsurance recoverable related to future policy benefits68.7 69.7 
Net liability for future policy benefits, after reinsurance recoverable$2,142.1$2,143.6
1Issuances for Unum International primarily 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 International segment presented in the rollforward activity above.
March 31
20252024
(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments$241.3$230.5
Interest accretion$14.5$13.9

March 31
20252024
(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments$4,431.6 $4,230.4 
Expected future gross premiums$1,419.2 $1,246.6 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$895.9 $807.5 
Weighted average interest rate:
Interest accretion rate4.1 %4.1 %
Current discount rate5.2 %4.9 %
Weighted average duration of the liability8.9 years8.6 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.
March 31
20252024
(in millions of dollars)
Present Value of Expected Net Premiums
Balance, beginning of year$3,553.3$3,592.6
Beginning balance at original discount rate3,793.8 3,754.3 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(11.3)3.7 
Adjusted beginning of year balance3,782.53,758.0
Issuances149.8172.9
Interest accretion36.835.1
Net premiums collected(165.2)(164.4)
Ending balance at original discount rate3,803.93,801.6
Effect of change in discount rate assumptions(198.8)(213.7)
Balance, end of period$3,605.1$3,587.9
Present Value of Expected Future Policy Benefits
Balance, beginning of year$5,434.9$5,566.0
Beginning balance at original discount rate6,026.2 5,925.2 
Effect of changes in cash flow assumptions— — 
Effect of actual variances from expected experience(20.0)(6.1)
Adjusted beginning of year balance6,006.25,919.1
Issuances157.3181.4
Interest accretion60.558.0
Benefit payments(168.1)(161.2)
Ending balance at original discount rate6,055.95,997.3
Effect of change in discount rate assumptions(531.4)(483.1)
Balance, end of period$5,524.5$5,514.2
Net liability for future policy benefits$1,919.4$1,926.3
Other24.7 24.5 
Total liability for future policy benefits1,944.1 1,950.8 
Less: Reinsurance recoverable related to future policy benefits1.0 1.6 
Net liability for future policy benefits, after reinsurance recoverable$1,943.1$1,949.2
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.

March 31
20252024
(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments$442.0$430.6
Interest accretion$23.7$22.9

March 31
20252024
(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments$10,537.5 $9,989.6 
Expected future gross premiums$12,748.0 $12,133.1 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$9,110.3 $8,840.9 
Weighted average interest rate:
Interest accretion rate4.4 %4.3 %
Current discount rate5.3 %5.1 %
Weighted average duration of the liability17.3 years17.0 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.
March 31, 2025
Long-term CareAll OtherTotal 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 rate7,592.9—7,592.9
Effect of changes in cash flow assumptions———
Effect of actual variances from expected experience(69.9)—(69.9)
Adjusted beginning of year balance7,523.0—7,523.0
Interest accretion98.0—98.0
Net premiums collected(157.1)—(157.1)
Ending balance at original discount rate7,463.9—7,463.9
Effect of change in discount rate assumptions148.4—148.4
Balance, end of period$7,612.3$—$7,612.3
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 rate22,953.77,591.030,544.7
Effect of changes in cash flow assumptions———
Effect of actual variances from expected experience(63.0)(19.9)(82.9)
Adjusted beginning of year balance22,890.77,571.130,461.8
Issuances1
—26.926.9
Interest accretion299.683.5383.1
Benefit payments(254.3)(235.4)(489.7)
Ending balance at original discount rate22,936.07,446.130,382.1
Effect of change in discount rate assumptions176.9(369.7)(192.8)
Balance, end of period$23,112.9$7,076.4$30,189.3
Net liability for future policy benefits$15,500.6$7,076.4$22,577.0
Other2
0.21,479.71,479.9
Total liability for future policy benefits15,500.88,556.124,056.9
Less: Reinsurance recoverable related to future policy benefits3.76,696.46,700.1
Net liability for future policy benefits, after reinsurance recoverable$15,497.1$1,859.7$17,356.8
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.
March 31, 2024
Long-term CareAll OtherTotal 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 rate7,703.6—7,703.6
Effect of changes in cash flow assumptions———
Effect of actual variances from expected experience(23.1)—(23.1)
Adjusted beginning of year balance7,680.5—7,680.5
Interest accretion101.3—101.3
Net premiums collected(155.2)—(155.2)
Ending balance at original discount rate7,626.6—7,626.6
Effect of change in discount rate assumptions223.5—223.5
Balance, end of period$7,850.1$—$7,850.1
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 rate22,649.38,094.630,743.9
Effect of changes in cash flow assumptions———
Effect of actual variances from expected experience(3.3)15.612.3
Adjusted beginning of year balance22,646.08,110.230,756.2
Issuances1
—33.033.0
Interest accretion300.189.1389.2
Benefit payments(229.0)(256.6)(485.6)
Ending balance at original discount rate22,717.17,975.730,692.8
Effect of change in discount rate assumptions1,070.5(361.8)708.7
Balance, end of period$23,787.6$7,613.9$31,401.5
Net liability for future policy benefits$15,937.5$7,613.9$23,551.4
Other2
22.31,591.01,613.3
Total liability for future policy benefits15,959.89,204.925,164.7
Less: Reinsurance recoverable related to future policy benefits4.27,222.67,226.8
Net liability for future policy benefits, after reinsurance recoverable$15,955.6$1,982.3$17,937.9
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.

March 31, 2025
Long-term CareAll OtherTotal Closed Block
(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments$176.2$42.0$218.2
Interest accretion$201.6$83.5$285.1

March 31, 2024
Long-term CareAll OtherTotal Closed Block
(in millions of dollars)
Amount recognized in the statement of income:
Gross premiums or assessments$174.6$50.4$225.0
Interest accretion$198.8 $89.1$287.9

March 31, 2025
Long-term CareAll OtherTotal Closed Block
(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments$59,439.9 $10,864.4$70,304.3 
Expected future gross premiums$13,460.1 $—$13,460.1 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$7,879.8 $—$7,879.8 
Weighted average interest rate:
Interest accretion rate5.6 %4.6 %5.3 %
Current discount rate5.5%5.2 %5.4 %
Weighted average duration of the liability15.5 years7.2 years12.8 years
March 31, 2024
Long-term CareAll OtherTotal Closed Block
(in millions of dollars, except weighted average data)
Amount of undiscounted:
Expected future benefit payments$61,072.6 $11,703.6$72,776.2 
Expected future gross premiums$14,221.1 $—$14,221.1 
Amount of discounted (at interest accretion rate):
Expected future gross premiums$8,132.0 $—$8,132.0 
Weighted average interest rate:
Interest accretion rate5.6 %4.6 %5.2 %
Current discount rate5.3 %5.1 %5.2 %
Weighted average duration of the liability16.2 years7.3 years13.1 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:

March 31
20252024
(in millions of dollars)
Liability for future policy benefits
Unum US1
$8,611.1 $9,054.0 
Unum International
2,210.8 2,213.3 
Colonial Life1,944.1 1,950.8 
Closed Block1
24,056.9 25,164.7 
Other products1
207.8 241.7 
Total liability for future policy benefits$37,030.7 $38,624.5 
1Unum US excludes dental & vision and medical stop-loss product lines 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:

March 31, 2025
Unum US - Voluntary BenefitsColonial LifeClosed 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 received12.9 19.4 7.9 40.2 
Policy charges1
(13.9)(17.6)(28.4)(59.9)
Surrenders and withdrawals(8.9)(10.0)(4.3)(23.2)
Benefit payments(1.6)(2.2)(65.4)(69.2)
Interest credited5.1 8.5 82.0 95.6 
Other2.5 (0.1)0.1 2.5 
Balance, end of period564.9 847.0 4,044.1 5,456.0 
Reserves in excess of account balance109.2 13.8 41.8 164.8 
Total policyholders' account balances674.1 860.8 4,085.9 5,620.8 
Less: Reinsurance recoverable related to policyholders' account balances0.8 0.14,085.94,086.8
Net policyholders' account balances, after reinsurance recoverable$673.3 $860.7 $— $1,534.0 
Weighted average crediting rate3.7%4.1%8.4%7.2%
Net amount at risk2
$4,040.4 $8,057.8$1,701.8$13,800.0 
Cash surrender value $554.9 $821.1$4,017.0$5,393.0 
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.
March 31, 2024
Unum US - Voluntary BenefitsColonial LifeClosed Block - All OtherTotal
(in millions of dollars, except weighted average data)
Balance, beginning of year    $578.6$852.9 $4,082.7 $5,514.2 
Premiums received14.020.5 5.7 40.2 
Policy charges1
(14.5)(18.3)(27.8)(60.6)
Surrenders and withdrawals(10.2)(9.7)(2.9)(22.8)
Benefit payments(1.9)(2.1)(75.5)(79.5)
Interest credited5.38.6 81.7 95.6 
Other2.80.1 0.3 3.2 
Balance, end of period574.1 852.0 4,064.2 5,490.3 
Reserves in excess of account balance99.716.232.8148.7 
Total policyholders' account balances673.8 868.2 4,097.0 5,639.0 
Less: Reinsurance recoverable related to policyholders' account balances0.9—4,097.04,097.9
Net policyholders' account balances, after reinsurance recoverable$672.9$868.2$—$1,541.1
Weighted average crediting rate3.7%4.1%8.3%7.2%
Net amount at risk2
$4,393.5$8,621.0$1,814.0$14,828.5 
Cash surrender value $563.3$816.6$4,045.3$5,425.2 
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.

March 31, 2025
Range of Guaranteed Minimum Crediting RateAt Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater than 150 Basis Points AboveTotal
(in millions of dollars)
Unum US - Voluntary Benefits
3.00% - 3.99%
$87.9$—$—$—$87.9
4.00% - 4.99%
243.6203.0——446.6
5.00% - 6.00%
30.4———30.4
361.9203.0——564.9
Colonial Life
4.00% - 5.00%
840.76.3——847.0
Closed Block - All Other
3.00% - 5.99%
1,448.948.26.9—1,504.0
6.00% - 8.99%
26.3———26.3
9.00% - 11.99%
2,306.7———2,306.7
12.00% - 15.00%
207.1———207.1
3,989.048.26.9—4,044.1
Total$5,191.6$257.5$6.9$—$5,456.0
March 31, 2024
Range of Guaranteed Minimum Crediting RateAt Guaranteed Minimum1 Basis Point - 50 Basis Points Above51 Basis Points - 150 Basis Points AboveGreater than 150 Basis Points AboveTotal
(in millions of dollars)
Unum US - Voluntary Benefits
3.00% - 3.99%
$91.3$—$—$—$91.3
4.00% - 4.99%
223.8191.436.9—452.1
5.00% - 6.00%
30.7———30.7
345.8191.436.9—574.1
Colonial Life
4.00% - 5.00%
845.86.2——852.0
Closed Block - All Other
3.00% - 5.99%
513.91,060.627.1— 1,601.6
6.00% - 8.99%
1.324.9—— 26.2
9.00% - 11.99%
138.52,107.2—— 2,245.7
12.00% - 15.00%
—190.7—— 190.7
653.73,383.427.1—4,064.2
Total$1,845.3$3,581.0$64.0$—$5,490.3
Deferred Policy Acquisition Costs
The following tables display the changes in deferred acquisition costs throughout the period:

March 31, 2025
Unum USUnum InternationalColonial LifeTotal
(in millions of dollars)
Balance, beginning of year$1,260.6$53.0$1,529.2$2,842.8
Capitalization84.75.382.6172.6
Amortization expense(65.2)(2.5)(57.7)(125.4)
Foreign currency—3.2—3.2
Balance, end of period$1,280.1$59.0$1,554.1$2,893.2

March 31, 2024
Unum USUnum InternationalColonial LifeTotal
(in millions of dollars)
Balance, beginning of year$1,232.2$46.9$1,435.4$2,714.5
Capitalization83.34.379.3166.9
Amortization expense(69.8)(2.4)(54.0)(126.2)
Foreign currency—(0.5)—(0.5)
Balance, end of period$1,245.7$48.3$1,460.7$2,754.7

March 31, 2025
Group DisabilityGroup 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
Capitalization16.111.632.221.03.884.7
Amortization expense (10.4)(6.1)(29.8)(15.4)(3.5)(65.2)
Balance, end of period$66.8$56.6$616.7$526.8$13.2$1,280.1

March 31, 2024
Group DisabilityGroup 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
Capitalization16.5 10.530.522.03.883.3
Amortization expense(14.4)(6.9)(29.4)(16.1)(3.0)(69.8)
Balance, end of period$65.7$52.5$611.7$503.7$12.1$1,245.7