8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): February 3, 2012
UNUM GROUP
(Exact name of registrant as specified in its charter)
Delaware	001-11294	62-1598430
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1 Fountain Square

Chattanooga, Tennessee 37402

(Address of principal executive offices)(Zip Code)

(423) 294-1011

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02    Results of Operations and Financial Condition.

On February 6, 2012, Unum Group (“Unum Group” or the “Company”), a Delaware corporation, issued a news release reporting its results for the fourth quarter of 2011, a copy of which is furnished herewith as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

Also on February 6, 2012, Unum Group posted on its website at www.unum.com the Statistical Supplement relating to its financial results for the fourth quarter of 2011. A copy of the Statistical Supplement is furnished herewith as Exhibit 99.2 and incorporated herein by reference.

In accordance with General Instruction B.2 of Form 8-K, the information included or incorporated in this Item 2.02, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall such information and exhibits be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

Item 2.06    Material Impairments.

On February 3, 2012, the Company concluded that a pre-tax charge of $289.8 million as of December 31, 2011 was appropriate for the impairment of its long-term care deferred acquisition costs. This decision was reached at the conclusion of a comprehensive and strategic review of the Company's long-term care business. As part of the strategic review, the Company analyzed its reserve assumptions for long-term care in conjunction with its annual loss recognition testing of deferred acquisition costs and policy reserves. Included in the analysis was a review of the Company's reserve discount rate assumptions and mortality and morbidity assumptions. The analysis considered the significant decline in long-term interest rates which occurred late in the third quarter of 2011 as well as an updated industry study for long-term care experience which was made available mid-year 2011. Based on its analysis, as of December 31, 2011, the Company lowered the discount rate to reflect the lower interest rate environment and the Company's expectation of future investment portfolio yield rates. The Company also changed its mortality and morbidity assumptions to reflect emerging experience and to align more closely with the recently published industry study, which shows a declining trend in death rates and in claim termination rates, both of which increase expectations of the ultimate cost of benefits. Due to the intangible nature of the asset, the Company does not expect to incur any cash expenditures as a result of the impairment.

Item 9.01    Financial Statements and Exhibits.

(d) Exhibits.	The following exhibits are furnished (but not filed) with this report:
99.1	News release of Unum Group dated February 6, 2012, concerning earnings for the fourth quarter of 2011.
99.2	Statistical Supplement of Unum Group for the fourth quarter of 2011.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Unum Group
	(Registrant)
Date: February 6, 2012	By:	/s/ Susan N. Roth
		Name:	Susan N. Roth
		Title:	Vice President, Transactions, SEC
			and Corporate Secretary

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	News release of Unum Group dated February 6, 2012, concerning earnings for the fourth quarter of 2011.
99.2	Statistical Supplement of Unum Group for the fourth quarter of 2011.

EX-99.1

	Exhibit 99.1
	1 Fountain Square
	Chattanooga, TN 37402
	www.unum.com

	FOR IMMEDIATE RELEASE
news	Contacts
	INVESTORS	Tom White	423 294 8996
		Rob Lockerman	423 294 7498
	MEDIA	Jim Sabourin	423 294 6300
			866 759 8686

Unum Group Reports Fourth Quarter 2011 Results

Strong Fourth Quarter Underlying Operating Results

Exiting Long-term Care Business Following Strategic Review

2012 Outlook Maintained

CHATTANOOGA, Tenn.(February 6, 2012) - Unum Group (NYSE: UNM) today reported a net loss of $425.4 million ($1.45 per diluted common share) for the fourth quarter of 2011, compared to net income of $225.8 million ($0.71 per diluted common share) for the fourth quarter of 2010, due largely to an after-tax charge of $561.2 million the Company took following its strategic review of the long-term care business and decision to discontinue new group long-term care sales as well as an after-tax reserve charge of $119.3 million in the individual disability closed block.

Adjusting for this charge and other items listed below, operating income on an after-tax basis was $227.6 million ($0.78 per diluted common share) in the fourth quarter of 2011, compared to $208.6 million ($0.66 per diluted common share) in the fourth quarter of 2010.

“I am very pleased with our continued ability to deliver strong underlying operating results,” said Thomas R. Watjen, president and chief executive officer. “We remain focused on growing in our targeted markets and generating solid profitability in our core businesses, while at the same time maintaining a strong balance sheet and capital position. Exiting long-term care further sharpens our focus around businesses consistent with the strategic direction we have set for our Company. Our disciplined approach is working, as even in this difficult environment we achieved solid operating earnings per share growth in 2011 and finished the year with our highest level of risk-based capital.”

The Company concluded its strategic review of its long-term care business and announced that it will discontinue new sales of group long-term care contracts during the first quarter of 2012 and reclassify the long-term care line of business from the Unum US segment to the Closed Block segment. The results for the fourth quarter of 2011 include an after-tax charge of $561.2 million ($1.92 per diluted common share) to reflect an increase to long-term care policy and claim reserves of $573.6 million before tax and an impairment of long-term care deferred acquisition costs of $289.8 million before tax.

“The decision to discontinue new sales of group long term care policies and move this business to our closed block allows us to further refine our focus on the markets that provide the greatest long-term opportunity for our Company and create maximum value for Unum shareholders,” added Watjen. “We are well positioned financially to take this action, and this decision does not impact the general financial guidance we have provided for 2012.” 

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES.

The results for the fourth quarter of 2011 also include an increase to claim reserves for the individual disability closed block of business of $183.5 million before tax which resulted in an after-tax decrease to net income of $119.3 million ($0.41 per diluted common share). Please refer to the “Other Information” section of this release for discussion of the long-term care and individual disability charges.

The results for the fourth quarter of 2011 also include net realized after-tax investment gains of $4.8 million ($0.02 per diluted common share), compared to $17.2 million ($0.05 per diluted common share) in the fourth quarter of 2010. Net realized after-tax investment gains for the fourth quarter of 2011 include an after-tax loss of $9.8 million resulting from changes in the fair value of an embedded derivative in a modified coinsurance contract, compared to an after-tax gain of $16.1 million in the fourth quarter of 2010. Also included in net realized after-tax investment gains for the fourth quarter of 2011 are net realized after-tax investment gains of $14.6 million related to sales and write-downs of investments, compared to net after-tax gains of $1.1 million in the fourth quarter of 2010.

Additionally, the results for the fourth quarter of 2011 include net tax benefits of $22.7 million ($0.08 per diluted common share) related to an IRS settlement, net of taxes related to subsidiary dividends.

RESULTS BY SEGMENT

In the following discussions of the Company's operating segment results, “operating revenue” excludes net realized investment gains and losses. “Operating income” or “operating loss” excludes income tax and net realized investment gains and losses.

The Company has modified its reporting segments by reclassifying its long-term care line of business from the Unum US segment to the Closed Block segment and reclassifying the “other” products no longer actively marketed from the Corporate and Other segment to the Closed Block segment. Refer to the “Other Information” section of this release for further discussion. Prior period segment results have been restated to reflect these reclassifications.

Unum US Segment

    Unum US reported operating income of $208.6 million in the fourth quarter of 2011, an increase of 7.5 percent from $194.0 million in the fourth quarter of 2010. Premium income for the segment increased 2.1 percent to $1,083.0 million in the fourth quarter of 2011; premium income in the fourth quarter of 2010 was $1,060.3 million.

Within the Unum US operating segment, the group disability line of business reported operating income of $77.2 million in the fourth quarter of 2011, compared to operating income of $77.0 million in the fourth quarter of 2010. Premium income in group disability declined 0.6 percent to $511.1 million in the fourth quarter of 2011, compared to $514.2 million in the fourth quarter of 2010. Ongoing price competition in the large case market, along with challenging economic conditions which negatively impact employment levels and wage growth and the Company's continued commitment to disciplined pricing, renewals, and risk selection were contributing factors to the decline in premium income. The benefit ratio for the fourth quarter of 2011 was 84.7 percent, compared to 84.2 percent in the fourth quarter of 2010, reflecting favorable claim incidence and claim recovery rates for group long-term disability which were offset by the decrease in the

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 2

discount rate for group long-term disability new claim incurrals that was implemented in the third quarter of 2011. Sales of fully insured group long-term disability products in the fourth quarter of 2011 increased 11.7 percent to $75.2 million, compared to $67.3 million in the fourth quarter of 2010. Sales of fully insured group short-term disability products increased 9.1 percent to $40.8 million in the fourth quarter of 2011, compared to $37.4 million in the fourth quarter of 2010. Premium persistency in the group long-term disability line of business was 90.2 percent for full-year 2011, compared to 89.4 percent for full-year 2010. Case persistency for this line was 89.0 percent for full-year 2011, compared to 88.4 percent for full-year 2010. Premium persistency in the group short-term disability line of business was 89.9 percent for full-year 2011, compared to 88.6 percent for full-year 2010. Case persistency for the short-term disability line was 88.0 percent for full-year 2011, compared to 87.3 percent for full-year 2010.

The group life and accidental death and dismemberment line of business reported a 1.3 percent increase in operating income to $53.9 million in the fourth quarter of 2011, compared to $53.2 million in the fourth quarter of 2010. Premium income for this line of business increased 2.1 percent to $309.0 million in the fourth quarter of 2011, compared to $302.6 million in the fourth quarter of 2010, reflecting higher group life sales. The benefit ratio in the fourth quarter of 2011 was 70.7 percent, compared to 70.3 percent in the fourth quarter of 2010, reflecting slightly elevated mortality rates in this line of business. Sales of group life and accidental death and dismemberment products increased 13.0 percent in the fourth quarter of 2011 to $97.1 million from $85.9 million in the fourth quarter of 2010. Premium persistency in the group life line of business was 88.0 percent for full-year 2011, compared to 91.5 percent for full-year 2010. Case persistency in the group life line of business for full-year 2011 was 88.6 percent compared to 88.3 percent for full-year 2010.

The Unum US supplemental and voluntary line of business, which includes the individual disability - recently issued and voluntary benefits lines of business, reported a 21.5 percent increase in operating income to $77.5 million in the fourth quarter of 2011, compared to $63.8 million in the fourth quarter of 2010. Premium income for the supplemental and voluntary lines increased 8.0 percent to $262.9 million in the fourth quarter of 2011, compared to $243.5 million in the fourth quarter of 2010. The benefit ratio declined to 51.9 percent in the fourth quarter of 2011 compared to 54.4 percent in the fourth quarter of 2010, with favorable risk experience in both the voluntary benefits and individual disability - recently issued lines of business. Relative to the fourth quarter of 2010, sales in the voluntary benefits line of business increased 11.0 percent in the fourth quarter of 2011, and sales in the individual disability - recently issued line increased 33.9 percent.

Unum UK Segment

Unum UK reported operating income of $53.7 million in the fourth quarter of 2011, an increase of 11.6 percent from $48.1 million in the fourth quarter of 2010. In local currency, operating income for the fourth quarter of 2011 increased 12.1 percent, to £34.2 million from £30.5 million in the fourth quarter of 2010.

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 3

Premium income decreased 0.8 percent to $169.2 million in the fourth quarter of 2011, compared to $170.5 million in the fourth quarter of 2010. In local currency, premium income decreased 0.3 percent to £107.6 million in the fourth quarter of 2011, compared to £107.9 million in the fourth quarter of 2010. The benefit ratio in the fourth quarter of 2011 was 69.1 percent, compared to 71.7 percent in the comparable quarter in 2010. The lower benefit ratio in the fourth quarter of 2011 resulted primarily from favorable mortality experience in the group life line of business and continued progress on implementing the new claim management processes. Sales increased 15.3 percent to $37.6 million in the fourth quarter of 2011, compared to $32.6 million in the fourth quarter of 2010. In local currency, sales for the fourth quarter of 2011 increased 15.5 percent to £23.9 million, compared to £20.7 million in the fourth quarter of 2010. Persistency in the group long-term disability line of business was 86.6 percent for full-year 2011, compared to 91.3 percent for full-year 2010. Persistency in the group life line of business was 89.3 percent for full-year 2011, compared to 92.7 percent for full-year 2010.

Colonial Life Segment

Colonial Life reported an 11.2 percent increase in operating income to $67.6 million in the fourth quarter of 2011, compared to $60.8 million in the fourth quarter of 2010. Premium income for the fourth quarter of 2011 increased 5.7 percent to $289.2 million, compared to $273.6 million in the fourth quarter of 2010. The benefit ratio in the fourth quarter of 2011 was 52.5 percent, compared to 53.4 percent for the same period in 2010. The benefit ratio decline resulted primarily from improved risk experience in the accident, sickness, and disability line. Sales increased 4.2 percent to $126.4 million in the fourth quarter of 2011 from $121.3 million in the fourth quarter of 2010, driven by strong sales in the commercial market which offset a decline in sales in the public sector market. The number of new accounts increased 1.6 percent in the fourth quarter of 2011 compared to the fourth quarter of 2010, and average weekly producers increased 1.6 percent compared to the fourth quarter of 2010.

Closed Block Segment

The Closed Block segment, which now includes the results of the closed blocks of individual disability, long-term care, and other closed blocks previously reported in the Corporate and Other segment, reported an operating loss of $1,014.9 million in the fourth quarter of 2011 compared to operating income of $29.0 million in the fourth quarter of 2010. Adjusting for the previously discussed reserve and deferred acquisition cost charges, the Closed Block segment reported operating income of $32.0 million for the fourth quarter of 2011. Premium income for the Closed Block segment declined 4.6 percent to $347.1 million in the fourth quarter of 2011 compared to $363.8 million in the fourth quarter of 2010. Excluding the reserve charge, the interest adjusted loss ratio was generally consistent in the fourth quarter of 2011 compared to the fourth quarter of 2010 for individual disability. For the long-term care line of business, the interest adjusted loss ratio, excluding the reserve charge, was higher in the fourth quarter of 2011 compared to the fourth quarter of 2010 due primarily to an increase in active life reserves as a result of continued high persistency levels.

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 4

Corporate Segment

The Corporate segment, which includes investment income on corporate assets not specifically allocated to a line of business, interest expense on corporate debt other than non-recourse debt, and certain other corporate income and expense not allocated to a line of business, reported an operating loss of $26.7 million in the fourth quarter of 2011, compared to an operating loss of $23.9 million in the fourth quarter of 2010.

OTHER INFORMATION

Strategic Review of Long-term Care Business

Following a comprehensive and strategic review of the long-term care business, the Company announced that it would discontinue selling group long-term care.  The Company discontinued selling individual long-term care during 2009.  Because both group and individual long-term care are now considered closed blocks of business, effective December 31, 2011, the Company reclassified the long-term care products from the Unum US segment to the Closed Block segment.  It also reclassified the other insurance products not actively marketed, including individual life and corporate-owned life insurance, reinsurance pools and management operations, group pension, health insurance, and individual annuities, which were previously reported in the Corporate and Other segment to the Closed Block segment.  The inclusion of all closed blocks of business into one operating segment aligns with the Company's reporting and monitoring of its closed blocks of business within a discrete segment and is consistent with the separation of these blocks of business from the lines of business which actively market new products. Prior period segment results have been restated to reflect these changes in our reporting classifications.

As part of the strategic review, and as is typical in the fourth quarter of each year, the Company analyzed its reserve assumptions for long-term care in conjunction with the annual loss recognition testing.  The Company generally performs loss recognition tests on its deferred acquisition costs and policy reserves in the fourth quarter of each year, but more frequently if appropriate, using best estimate assumptions as of the date of the test.  Included in the analysis was a review of the reserve discount rate assumptions and mortality and morbidity assumptions.  The analysis of reserve discount rate assumptions considered the significant decline in long-term interest rates which occurred late in the third quarter of 2011 due to the European Union debt crisis and the Federal Reserve's actions, including the announcement of "Operation Twist."  The Company also considered an updated industry study for long-term care experience which was made available mid-year 2011 from the Society of Actuaries.  The analysis of this study, which was completed during the fourth quarter of 2011, showed that lower termination rates than the Company had previously assumed were beginning to emerge in the industry.  Based on this analysis, as of December 31,2011 the Company lowered the discount rate to reflect the low interest rate environment and its expectation of future investment portfolio yield rates.  The Company also changed its mortality assumptions to reflect emerging experience due to an improvement in life expectancies which increases the ultimate number of people who will utilize long-term care benefits and also lengthens the amount of time a claimant receives long-term care benefits.  The Company changed its morbidity assumptions to reflect emerging industry experience as well as its own company experience.  While its morbidity experience is still emerging and is not fully credible, the Company modified its assumptions to align more closely with the recently published industry study.  Using its revised best estimate assumptions, as of December 31, 2011 the Company

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 5

determined that its deferred acquisition costs of $289.8 million were not recoverable and that its policy and claim reserves should be increased by $573.6 million to reflect the current estimate of future benefit obligations.

Claim Reserve Increase of Individual Disability Closed Block Business

The Company calculates its claim reserves supporting the individual disability closed block business using assumptions based on actual experience believed to be currently appropriate.  Claim reserves are subject to revision as current claim experience emerges and alters the Company's view of future expectations. Claim resolution rates, which measure the resolution of claims from recovery, deaths, settlements, and benefit expirations, are very sensitive to operational and environmental changes and can be volatile.  The Company's claim resolution rate assumption used in determining reserves is its expectation of the resolution rate expected to be experienced over the life of the block of business.  The Company is now able, with a higher degree of confidence, to assess its experience for older ages in its long duration lifetime claim block as its data has become credible. There is very little industry experience for lifetime disability benefits, as Unum Group's insurance subsidiaries were the primary disability companies in the insurance industry at the time lifetime disability benefits were offered. These benefits were offered during the 1980s and 1990s, recent enough such that claimants are just reaching the older ages and providing the Company with data to build its claim experience base. Emerging experience indicates a longer life expectancy for the older age, longer duration disabled claimants, which lengthens the time a claimant receives disability benefits.  As a result of this experience, as of December 31, 2011 the Company adjusted its mortality assumption within its claim resolution rate assumption and, as a result, increased the claim reserves for the individual disability closed block of business by $183.5 million.

Shares Outstanding

The Company's average number of shares outstanding, assuming dilution, was 292.6 million for the fourth quarter of 2011, compared to 318.5 million for the fourth quarter of 2010. Shares outstanding totaled 292.7 million at December 31, 2011. During the full year 2011, the Company repurchased approximately 25.4 million shares at a cost of $619.9 million.

Capital Management

At December 31, 2011, the weighted average risk-based capital for the Company's traditional US insurance companies was approximately 405 percent; leverage was 22.4 percent; and cash and marketable securities in the holding companies equaled $756 million.

Leverage is measured as total debt to total capital, which the Company defines as total long-term and short-term debt plus stockholders' equity, excluding the net unrealized gain or loss on securities and the net gain or loss on cash flow hedges. Leverage also excludes the non-recourse debt and associated capital of Tailwind Holdings, LLC and Northwind Holdings, LLC as well as the short-term debt arising from securities lending agreements.

Book Value

Book value per common share as of December 31, 2011 was $29.30 compared to $28.25 at December 31, 2010.

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 6

OUTLOOK

The Company continues to anticipate growth in after-tax operating income per share for full year 2012 to be in the range of six percent to twelve percent, including the effect of expected share repurchases of approximately $500 million in 2012. The Company also continues to anticipate that the weighted average risk-based capital for its traditional US insurance companies for year-end 2012 will be within a range of 375 percent to 400 percent, and cash and marketable securities in the holding companies will be within a range of $500 million to $800 million. As previously reported, the Company will adopt an update to Accounting Standards Codification 944 “Financial Services - Insurance” effective January 1, 2012. The update addresses diversity in practice regarding the interpretation of which costs relating to the acquisition of new or renewal insurance contracts qualify as deferred acquisition costs. The Company had previously announced that its retrospective adoption of this update would result in a non-cash cumulative effect adjustment to the opening balance of stockholders' equity of between $400 million and $600 million in the year of adoption. As a result of the impairment of the long-term care deferred acquisition costs at December 31, 2011, as well as continued refinements in the Company's estimate, the Company now expects that adoption of this standard during the first quarter of 2012 in will result in a cumulative effect decrease in stockholders' equity as of January 1, 2012 of approximately $400 million.

NON-GAAP RECONCILIATION

The Company analyzes its performance using non-GAAP financial measures which exclude certain items and the related tax thereon from net income. The Company believes operating income or loss, excluding realized investment gains and losses, which may be recurring, and excluding certain other items specified in the non-GAAP reconciliation, is a better performance measure and a better indicator of the profitability and underlying trends in its business. Realized investment gains and losses are primarily dependent on market conditions and general economic events and are not necessarily related to decisions regarding the Company's underlying business. The exclusion of certain other items specified in the non-GAAP reconciliation also enhances the understanding and comparability of the Company's performance and the underlying fundamentals in its operations, but this exclusion is not an indication that similar items may not recur. The Company believes leverage excluding the non-recourse debt of Northwind and Tailwind, the short-term debt arising from securities lending agreements, and the unrealized gains and losses on securities and the net gain or loss on cash flow hedges, which also tend to fluctuate depending on market conditions and general economic trends, is an important measure. For reconciliation to the most directly comparable GAAP measures, refer to the attached digest of earnings.

CONFERENCE CALL INFORMATION

Members of Unum Group senior management will host a conference call on Tuesday, February 7, 2012 at 9:00 A.M. (Eastern Time) to discuss the results of operations for the fourth quarter. Topics may include forward-looking information such as the Company's outlook on future results, trends in operations, and other material information.

The dial-in number for the conference call is (800) 289-0726 for U.S. and Canada (pass code 7242399). For international, the dial-in number is (913) 312-1379 (pass code 7242399). A live webcast of the call will also be available at www.investors.unum.com in a listen-only mode. It is recommended that webcast viewers access the “Investors” section of the Company's website and opt-in to the webcast fifteen minutes prior to the start of the call. The Company will maintain a replay

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 7

of the call on its website through Wednesday, February 15, 2012. A replay of the call will also be available by dialing (888) 203-1112 (U.S. and Canada) or (719) 457-0820 (International) - pass code 7242399.

In conjunction with today's earnings announcement, the Company's Statistical Supplement for the fourth quarter of 2011 is available on the “Investors” section of the Company's website.

ABOUT UNUM GROUP

Unum (www.unum.com) is one of the leading providers of employee benefits products and services and the largest provider of disability insurance products in the United States and the United Kingdom.

SAFE HARBOR STATEMENT

Certain information in this press release constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those not based on historical information, but rather relate to future operations, strategies, financial results, or other developments and speak only as of the date made. These forward-looking statements, including statements about anticipated growth in after-tax operating income per share, planned share repurchases, risk-based capital, and holding company cash and marketable securities, are subject to numerous assumptions, risks, and uncertainties, many of which are beyond our control. The following factors, in addition to other factors mentioned from time to time, may cause actual results to differ materially from those contemplated by the forward-looking statements: (1) unfavorable economic or business conditions, both domestic and foreign; (2) legislative, regulatory, or tax changes, both domestic and foreign, including the effect of potential legislation and increased regulation in the current political environment; (3) sustained periods of low interest rates; (4) changes in claim incidence, recovery rates, and offsets due to, among other factors, the rate of unemployment and consumer confidence, the emergence of new diseases, epidemics, or pandemics, new trends and developments in medical treatments, the effectiveness of claims management operations, and changes in government programs; (5) fluctuation in insurance reserve liabilities; (6) investment results, including but not limited to, realized investment losses resulting from defaults, contractual terms of derivative contracts, and impairments that differ from our assumptions and historical experience; (7) the lack of appropriate investments in the market which can be acquired to match our liability cash flows and duration; (8) changes in interest rates, credit spreads, and securities prices; (9) increased competition from other insurers and financial services companies due to industry consolidation or other factors; (10) changes in demand for our products due to, among other factors, changes in societal attitudes, the rate of unemployment, and consumer confidence; (11) changes in accounting standards, practices, or policies; (12) changes in our financial strength and credit ratings; (13) rating agency actions, state insurance department market conduct examinations and other inquiries, other governmental investigations and actions, and negative media attention; (14) effectiveness in managing our operating risks and the implementation of operational improvements and strategic growth initiatives; (15) actual experience in pricing, underwriting, and reserving that deviates from our assumptions; (16) actual persistency and/or sales growth that is higher or lower than projected; (17) effectiveness of our risk management program; (18) the level and results of litigation; (19) currency exchange rates; (20) ability of our subsidiaries to pay dividends as a result of regulatory restrictions; (21) ability and

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 8

willingness of reinsurers to meet their obligations; (22) changes in assumptions related to intangible assets such as deferred acquisition costs, value of business acquired, and goodwill; (23) ability to recover our systems and information in the event of a disaster or unanticipated event and to protect our systems and information from unauthorized access and deliberate attacks; and (24) events or consequences relating to political instability, terrorism, or acts of war, both domestic and foreign.

For further discussion about risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part I, Item 1A of our annual report on Form 10-K for the year ended December 31, 2010 and our subsequently filed Forms 10-Q. The forward-looking statements in this press release are being made as of the date of this press release, and the Company expressly disclaims any obligation to update or revise any forward-looking statement contained herein, even if made available on our website or otherwise.

###

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 9

DIGEST OF EARNINGS

(Unaudited)

Unum Group (UNM:NYSE)

and Subsidiaries

($ in millions, except share data)
	Three Months Ended December 31					Twelve Months Ended December 31
	2011			2010		2011			2010
Operating Revenue by Segment	$	2,597.4		$	2,565.6	$	10,282.9		$	10,168.5
Net Realized Investment Gain (Loss)	7.4			27.5		(4.9		)	24.7
Total Revenue	$	2,604.8		$	2,593.1	$	10,278.0		$	10,193.2
Operating Income (Loss) by Segment	$	(711.7	)	$	308.0	$	262.1		$	1,306.6
Net Realized Investment Gain (Loss)	7.4			27.5		(4.9		)	24.7
Income Tax (Benefit)	(278.9		)	109.7		21.8			445.2
Net Income (Loss)	$	(425.4	)	$	225.8	$	235.4		$	886.1
PER SHARE INFORMATION
Net Income (Loss) Per Common Share
Basic	$	(1.45	)	$	0.71	$	0.78		$	2.72
Assuming Dilution	$	(1.45	)	$	0.71	$	0.78		$	2.71
Weighted Average Common Shares - Basic (000s)	292,624.9			316,968.2		302,399.8			325,839.0
Weighted Average Common Shares - Assuming Dilution (000s)	292,624.9			318,462.9		303,571.0			327,221.1

RECONCILIATION OF NON-GAAP FINANCIAL MEASURES

	Three Months Ended December 31
	2011						2010
	(in millions)			per share *			(in millions)			per share *
After-tax Operating Income	$	227.6		$	0.78		$	208.6		$	0.66
Deferred Acquisition Costs Impairment and Reserve Charges for Long-term Care Closed Block, Net of Tax	561.2			(1.92		)	—			—
Reserve Charge for Individual Disability Closed Block, Net of Tax	(119.3		)	(0.41		)	—			—
Tax Reduction from IRS Settlement	41.3			0.14			—			—
Tax Related to U.K. Repatriation	(18.6		)	(0.06		)	—			—
Net Realized Investment Gain, Net of Tax	4.8			0.02			17.2			0.05
Net Income (Loss)	$	(425.4	)	$	(1.45	)	$	225.8		$	0.71
* Assuming Dilution
	Twelve Months Ended December 31
	2011						2010
	(in millions)			per share *			(in millions)			per share *
After-tax Operating Income	$	896.8		$	2.95		$	880.6		$	2.69
Deferred Acquisition Costs Impairment and Reserve Charges for Long-term Care Closed Block, Net of Tax	(561.2		)	(1.85		)	—			—
Reserve Charge for Individual Disability Closed Block, Net of Tax	(119.3		)	(0.39		)	—			—
Tax Reduction from IRS Settlement	41.3			0.14			—			—
Tax Related to U.K. Repatriation	(18.6		)	(0.06		)	—			—
Healthcare Reform Tax Legislation	—			—			(10.2		)	(0.03		)
Net Realized Investment Gain (Loss), Net of Tax	(3.6		)	(0.01		)	15.7			0.05
Net Income	$	235.4		$	0.78		$	886.1		$	2.71
* Assuming Dilution

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 10

	Three Months Ended December 31, 2011
				Long-term Care			Individual Disability
				DAC and			Closed Block
	As Reported			Reserve Charges			Reserve Charge			As Adjusted
	(in millions)
Operating Income (Loss) by Segment Before Income Tax and Net Realized Investment Gain
Core Operations
Unum US	$	208.6		$	—		$	—		$	208.6
Unum UK	53.7			—			—			53.7
Colonial Life	67.6			—			—			67.6
Total Core Operations	329.9			—			—			329.9
Closed Block	(1,014.9		)	863.4			183.5			32.0
Corporate	(26.7		)	—			—			(26.7		)
Total Operating Income (Loss) by Segment	$	(711.7	)	$	863.4		$	183.5		$	335.2
	December 31
	2011
	(in millions)
Debt, As Reported	$	2,882.5
Exclude Non-recourse Debt and Securities Lending Agreements	944.8
Debt, As Adjusted	$	1,937.7
Total Stockholders' Equity, As Reported	$	8,577.0
Exclude Net Unrealized Gain on Securities and Net Gain on Cash Flow Hedges	1,014.5
Exclude Northwind and Tailwind Capital	839.7
	6,722.8
Debt, As Adjusted	1,937.7
Total Capital, As Adjusted	$	8,660.5
Debt to Capital Ratio	22.4		%
	December 31
	2011						2010
	(in millions)			per share			(in millions)			per share
Total Stockholders' Equity (Book Value)	$	8,577.0		$	29.30		$	8,944.4		$	28.25
Net Unrealized Gain on Securities	605.8			2.07			410.4			1.29
Net Gain on Cash Flow Hedges	408.7			1.39			361.0			1.14
Subtotal	7,562.5			25.84			8,173.0			25.82
Foreign Currency Translation Adjustment	(121.5		)	(0.41		)	(110.9		)	(0.35		)
Subtotal	7,684.0			26.25			8,283.9			26.17
Unrecognized Pension and Postretirement Benefit Costs	(444.1		)	(1.52		)	(318.6		)	(1.00		)
Total Stockholders' Equity, As Adjusted	$	8,128.1		$	27.77		$	8,602.5		$	27.17

UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES. 11

EX-99.2

Exhibit 99.2

Unum Group

Statistical Supplement Fourth Quarter 2011

TABLE OF CONTENTS

(dollars in millions, except share data and where noted)

Interim Results are Unaudited

		Page
	Financial Highlights	1
	Consolidated Statements of Operations	2
	Sales Data	3
	Consolidated Balance Sheets	4
	Financial Results by Segment	5
	Quarterly Historical Financial Results by Segment	6
	Financial Results and Selected Statistics by Segment
	Unum US	7
	Unum UK	8
	Colonial Life	9
	Closed Block	10
	Corporate	11
	Reserves	12
	Investment Fact Sheets	13
	Statutory-Basis Financial Information	14
	Notes to Statistical Supplement	15
	Supplemental Exhibit - Restated Segment Financial Results for Changes in Reporting Classifications	16
Throughout this supplement, segment operating results exclude income taxes and realized investment gains and losses.
See "Notes to Statistical Supplement" on page 15 for a discussion of non-GAAP financial measures and significant transactions and events.
N.M. = not a meaningful percentage

Unum Group Financial Highlights

	Three Months Ended					Year Ended
	12/31/2011			12/31/2010		12/31/2011			12/31/2010		12/31/2009
Financial Results
Premium Income	$	1,888.5		$	1,868.2	$	7,514.2		$	7,431.4	$	7,475.5
Segment Operating Revenue	$	2,597.4		$	2,565.6	$	10,282.9		$	10,168.5	$	10,079.3
Net Realized Investment Gain (Loss)	7.4			27.5		(4.9		)	24.7		11.7
Revenue	$	2,604.8		$	2,593.1	$	10,278.0		$	10,193.2	$	10,091.0
Net Income (Loss)	$	(425.4	)	$	225.8	$	235.4		$	886.1	$	852.6
Assets						$	60,179.0		$	57,307.7	$	54,477.0
Stockholders' Equity						$	8,577.0		$	8,944.4	$	8,500.1

Segments

Our reporting segments are comprised of the following: Unum US, Unum UK, Colonial Life, Closed Block, and Corporate. In conjunction with the conclusion of our strategic review of our long-term care business described herein, effective with the fourth quarter of 2011 we modified our reporting segments to reclassify our long-term care products from the Unum US segment to the Closed Block segment.  We also reclassified our other insurance products not actively marketed, including individual life and corporate-owned life insurance, reinsurance pools and management operations, group pension, health insurance, and individual annuities, which were previously reported in the Corporate and Other segment to the Closed Block segment. Prior period segment results have been restated to reflect these changes in our reporting classifications.

2011

Three months and year ended 12/31/2011 results include the following:

• A deferred acquisition costs impairment charge of $289.8 million before tax and $188.4 million after tax related to our long-term care closed block business.

• A reserve charge of $573.6 million before tax and $372.8 million after tax related to our long-term care closed block business.

• A reserve charge of $183.5 million before tax and $119.3 million after tax related to our individual disability closed block business.

• An income tax benefit of $41.3 million resulting from the settlement of our appeal to the Internal Revenue Service related to tax years 1996 to 2004.

• An income tax charge of $18.6 million resulting from the repatriation of dividends from our U.K. subsidiaries.

2010

Year ended 12/31/2010 results include a tax charge of $10.2 million to reflect the impact of a tax law change.

1

Unum Group Financial Highlights

	Three Months Ended					Year Ended
	12/31/2011			12/31/2010		12/31/2011		12/31/2010		12/31/2009
Per Common Share Information
Net Income (Loss)
Assuming Dilution	$	(1.45	)	$	0.71	$	0.78	$	2.71	$	2.57
Basic	$	(1.45	)	$	0.71	$	0.78	$	2.72	$	2.57
Dividends Paid	$	0.1050		$	0.0925	$	0.395	$	0.350	$	0.315
Book Value per Share:
As Reported						$	29.30	$	28.25	$	25.62
Excluding Net Unrealized Gain (Loss) on Securities and Net Gain on Cash Flow Hedges						$	25.84	$	25.82	$	23.36
Excluding Foreign Currency Translation Adjustment						$	26.25	$	26.17	$	23.60
Excluding Unrecognized Pension and Postretirement Benefit Costs						$	27.77	$	27.17	$	24.59
Price (UNM closing price on last trading day of period)						$	21.07	$	24.22	$	19.52

See "Consolidated Balance Sheets" on page 4 of this statistical supplement for detail on the components of Accumulated Other Comprehensive Income (Loss) excluded from Total Stockholders' Equity in computing the book value per share measures listed above.

At year ended December 31, 2009, Total Stockholders' Equity, Net Unrealized Gain on Securities, Net Gain on Cash Flow Hedges, Foreign Currency Translation Adjustment, and Unrecognized Pension and Postretirement Benefit Costs were $8,500.1 million, $379.6 million, $370.8 million, $(78.7) million, and $(330.7) million, respectively.

1. 1

Unum Group Consolidated Statements of Operations

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Revenue
Premium Income	$	1,888.5		$	1,868.2		$	7,514.2		$	7,431.4		$	7,475.5
Net Investment Income	634.6			634.3			2,519.6			2,495.5			2,346.6
Net Realized Investment Gain (Loss)	7.4			27.5			(4.9		)	24.7			11.7
Other Income	74.3			63.1			249.1			241.6			257.2
Total Revenue	2,604.8			2,593.1			10,278.0			10,193.2			10,091.0
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	2,381.5			1,618.1			7,209.5			6,354.1			6,291.6
Commissions	216.5			215.3			879.2			855.4			837.1
Interest and Debt Expense - Non-recourse Debt	2.8			3.1			11.5			12.9			18.6
Interest and Debt Expense - All Other Debt	32.4			36.0			131.8			128.9			106.8
Deferral of Acquisition Costs	(156.2		)	(152.2		)	(628.3		)	(607.7		)	(593.6		)
Amortization of Deferred Acquisition Costs	133.4			139.4			533.8			547.1			526.2
Impairment of Deferred Acquisition Costs	289.8			—			289.8			—			—
Other Expenses	408.9			397.9			1,593.5			1,571.2			1,612.0
Total Benefits and Expenses	3,309.1			2,257.6			10,020.8			8,861.9			8,798.7
Income (Loss) Before Income Tax	(704.3		)	335.5			257.2			1,331.3			1,292.3
Income Tax Expense (Benefit)	(278.9		)	109.7			21.8			445.2			439.7
Net Income (Loss)	$	(425.4	)	$	225.8		$	235.4		$	886.1		$	852.6
Average Weighted Shares Outstanding
Basic	292,624,885			316,968,173			302,399,783			325,839,020			331,266,247
Dilutive Securities:
Options and Other Nonvested Stock Awards	—			1,494,767			1,171,250			1,382,036			869,934
Assuming Dilution	292,624,885			318,462,940			303,571,033			327,221,056			332,136,181
Actual Number of Shares Outstanding							292,715,954			316,573,452			331,809,247

2

Unum Group Sales Data by Segment

	Three Months Ended						Year Ended
	12/31/2011		12/31/2010		% Change		12/31/2011		12/31/2010		12/31/2009
Unum US
Fully Insured Products	$	268.4	$	238.1	12.7	%	$	707.3	$	643.4	$	683.1
Administrative Services Only (ASO) Products	3.4		4.5		(24.4	)	6.4		6.3		7.7
Total Unum US	271.8		242.6		12.0		713.7		649.7		690.8
Unum UK	37.6		32.6		15.3		100.2		119.2		123.2
Colonial Life	126.4		121.3		4.2		365.9		358.8		343.8
Closed Block	12.8		9.8		30.6		36.1		26.8		27.6
Consolidated	$	448.6	$	406.3	10.4		$	1,215.9	$	1,154.5	$	1,185.4

3

Unum Group Sales Data for Unum US Segment

	Three Months Ended						Year Ended
	12/31/2011		12/31/2010		% Change		12/31/2011		12/31/2010		12/31/2009
Sales by Product
Fully Insured Products
Group Disability, Group Life, and AD&D
Group Long-term Disability	$	75.2	$	67.3	11.7	%	$	165.0	$	148.2	$	182.1
Group Short-term Disability	40.8		37.4		9.1		84.9		80.3		83.9
Group Life	88.4		77.6		13.9		185.3		166.9		184.9
AD&D	8.7		8.3		4.8		17.6		18.1		18.7
Subtotal	213.1		190.6		11.8		452.8		413.5		469.6
Supplemental and Voluntary
Individual Disability - Recently Issued	15.0		11.2		33.9		55.6		42.7		51.6
Voluntary Benefits	40.3		36.3		11.0		198.9		187.2		161.9
Subtotal	55.3		47.5		16.4		254.5		229.9		213.5
Total Fully Insured Products	268.4		238.1		12.7		707.3		643.4		683.1
ASO Products	3.4		4.5		(24.4	)	6.4		6.3		7.7
Total Sales	$	271.8	$	242.6	12.0		$	713.7	$	649.7	$	690.8
Sales by Market Sector
Group Disability, Group Life, and AD&D
Core Market (< 2,000 lives)	$	144.8	$	131.8	9.9	%	$	322.1	$	294.0	$	320.6
Large Case Market	68.3		58.8		16.2		130.7		119.5		149.0
Subtotal	213.1		190.6		11.8		452.8		413.5		469.6
Supplemental and Voluntary	55.3		47.5		16.4		254.5		229.9		213.5
Total Fully Insured Products	268.4		238.1		12.7		707.3		643.4		683.1
ASO Products	3.4		4.5		(24.4	)	6.4		6.3		7.7
Total Sales	$	271.8	$	242.6	12.0		$	713.7	$	649.7	$	690.8

3. 1

Unum Group Sales Data for Unum UK Segment

	Three Months Ended						Year Ended
	12/31/2011		12/31/2010		% Change		12/31/2011		12/31/2010		12/31/2009
Group Long-term Disability	$	17.1	$	14.1	21.3	%	$	47.8	$	53.1	$	56.8
Group Life	18.3		16.3		12.3		43.8		57.3		53.8
Supplemental and Voluntary	2.2		2.2		—		8.6		8.8		12.6
Total Sales	$	37.6	$	32.6	15.3		$	100.2	$	119.2	$	123.2
(in millions of pounds)
Group Long-term Disability	£	10.8	£	9.0	20.0	%	£	29.8	£	34.4	£	36.5
Group Life	11.7		10.4		12.5		27.5		37.1		33.4
Supplemental and Voluntary	1.4		1.3		7.7		5.4		5.7		8.0
Total Sales	£	23.9	£	20.7	15.5		£	62.7	£	77.2	£	77.9

Unum Group Sales Data for Colonial Life Segment

	Three Months Ended						Year Ended
	12/31/2011		12/31/2010		% Change		12/31/2011		12/31/2010		12/31/2009
Accident, Sickness, and Disability	$	81.4	$	79.0	3.0	%	$	242.9	$	237.4	$	221.1
Life	22.8		20.9		9.1		65.5		65.7		68.3
Cancer and Critical Illness	22.2		21.4		3.7		57.5		55.7		54.4
Total Sales	$	126.4	$	121.3	4.2		$	365.9	$	358.8	$	343.8

3. 2

Unum Group Consolidated Balance Sheets

	December 31,
	2011			2010
Assets
Investments
Fixed Maturity Securities	$	42,486.7		$	40,035.6
Mortgage Loans	1,612.3			1,516.8
Policy Loans	3,051.4			2,996.1
Other Long-term Investments	639.2			529.3
Short-term Investments	1,423.5			1,163.1
Total Investments	49,213.1			46,240.9
Cash and Bank Deposits	116.6			53.6
Accounts and Premiums Receivable	1,672.2			1,665.8
Reinsurance Recoverable	4,854.6			4,827.9
Accrued Investment Income	681.8			669.8
Deferred Acquisition Costs	2,300.9			2,521.1
Goodwill	201.2			201.2
Property and Equipment	493.3			476.8
Other Assets	645.3			650.6
Total Assets	$	60,179.0		$	57,307.7
Liabilities
Policy and Contract Benefits	$	1,494.0		$	1,565.0
Reserves for Future Policy and Contract Benefits	43,051.9			39,715.0
Unearned Premiums	433.2			436.7
Other Policyholders’ Funds	1,625.9			1,669.7
Income Tax Payable	38.2			135.7
Deferred Income Tax	261.2			417.2
Short-term Debt	312.3			225.1
Long-term Debt - Non-recourse	632.5			716.9
Long-term Debt - All Other	1,937.7			1,914.4
Other Liabilities	1,815.1			1,567.6
Total Liabilities	51,602.0			48,363.3
Stockholders’ Equity
Common Stock	35.9			36.5
Additional Paid-in Capital	2,591.1			2,615.4
Accumulated Other Comprehensive Income (Loss)
Net Unrealized Gain on Securities	605.8			410.4
Net Gain on Cash Flow Hedges	408.7			361.0
Foreign Currency Translation Adjustment	(121.5		)	(110.9		)
Unrecognized Pension and Postretirement Benefit Costs	(444.1		)	(318.6		)
Retained Earnings	7,031.2			7,060.8
Treasury Stock	(1,530.1		)	(1,110.2		)
Total Stockholders’ Equity	8,577.0			8,944.4
Total Liabilities and Stockholders’ Equity	$	60,179.0		$	57,307.7

4

Unum Group Deferred Acquisition Costs by Segment

	Unum US			Unum UK			Colonial Life			Closed Block			Consolidated
Balances at December 31, 2008	$	1,341.4		$	54.7		$	755.9		$	320.4		$	2,472.4
Capitalized	321.6			29.1			229.0			13.9			593.6
Amortized	(293.8		)	(30.5		)	(178.5		)	(23.4		)	(526.2		)
Adjustment Related to Unrealized Investment Gains/Losses	(17.7		)	—			(45.2		)	—			(62.9		)
Foreign Currency	—			5.6			—			—			5.6
Balances at December 31, 2009	1,351.5			58.9			761.2			310.9			2,482.5
Capitalized	323.2			28.3			246.4			9.8			607.7
Amortized	(307.9		)	(27.0		)	(187.2		)	(25.0		)	(547.1		)
Adjustment Related to Unrealized Investment Gains/Losses	(4.6		)	—			(15.4		)	—			(20.0		)
Foreign Currency	—			(2.0		)	—			—			(2.0		)
Balances at December 31, 2010	1,362.2			58.2			805.0			295.7			2,521.1
Capitalized	333.8			30.6			252.9			11.0			628.3
Amortized	(298.7		)	(29.2		)	(189.0		)	(16.9		)	(533.8		)
Impairment of Deferred Acquisition Costs	—			—			—			(289.8		)	(289.8		)
Adjustment Related to Unrealized Investment Gains/Losses	(5.0		)	—			(19.7		)	—			(24.7		)
Foreign Currency	—			(0.2		)	—			—			(0.2		)
Balances at December 31, 2011	$	1,392.3		$	59.4		$	849.2		$	—		$	2,300.9

4. 1

Unum Group Balance Sheets by Segment - December 31, 2011

	Unum US
	Group Disability			Group Life and Accidental Death & Dismemberment		Supplemental and Voluntary		Total Unum US		Unum UK		Colonial Life		Closed Block		Corporate			Consolidated
Assets
Investments	$	10,017.5		$	2,424.6	$	3,735.4	$	16,177.5	$	3,293.6	$	2,294.8	$	25,615.9	$	1,831.3		$	49,213.1
Deferred Acquisition Costs	120.1			102.7		1,169.5		1,392.3		59.4		849.2		—		—			2,300.9
Goodwill	2.5			—		187.5		190.0		11.2		—		—		—			201.2
All Other	616.1			124.7		503.5		1,244.3		203.9		208.5		5,823.6		983.5			8,463.8
Total Assets	$	10,756.2		$	2,652.0	$	5,595.9	$	19,004.1	$	3,568.1	$	3,352.5	$	31,439.5	$	2,814.8		$	60,179.0
Liabilities
Reserves and Policyholder Benefits	$	8,913.9		$	1,661.9	$	3,270.3	$	13,846.1	$	2,491.8	$	1,768.3	$	28,498.8	$	—		$	46,605.0
Debt	79.0			—		—		79.0		—		—		597.7		2,205.8			2,882.5
All Other	235.3			37.2		435.5		708.0		118.7		313.5		38.8		935.5			2,114.5
Total Liabilities	9,228.2			1,699.1		3,705.8		14,633.1		2,610.5		2,081.8		29,135.3		3,141.3			51,602.0
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity	1,530.2			913.4		1,764.6		4,208.2		770.0		1,158.0		2,005.9		(579.6		)	7,562.5
Net Unrealized Gain/Loss on Securities and Net Gain on Cash Flow Hedges	(2.2		)	39.5		125.5		162.8		187.6		112.7		298.3		253.1			1,014.5
Total Allocated Stockholders' Equity	1,528.0			952.9		1,890.1		4,371.0		957.6		1,270.7		2,304.2		(326.5		)	8,577.0
Total Liabilities and Allocated Stockholders' Equity	$	10,756.2		$	2,652.0	$	5,595.9	$	19,004.1	$	3,568.1	$	3,352.5	$	31,439.5	$	2,814.8		$	60,179.0

Allocated stockholders' equity is determined on the basis of an internal allocation formula that reflects the volume and risk components of the business and aligns with the Company's target capital levels for regulatory and rating agency purposes. This formula is modified periodically to recognize changes in the views of capital requirements.

4. 2

Unum Group Balance Sheets by Segment - December 31, 2010

	Unum US
	Group Disability		Group Life and Accidental Death & Dismemberment		Supplemental and Voluntary		Total Unum US		Unum UK		Colonial Life		Closed Block		Corporate			Consolidated
Assets
Investments	$	9,965.9	$	2,326.0	$	3,334.0	$	15,625.9	$	3,042.0	$	2,007.8	$	23,500.4	$	2,064.8		$	46,240.9
Deferred Acquisition Costs	119.0		93.8		1,149.4		1,362.2		58.2		805.0		295.7		—			2,521.1
Goodwill	2.5		—		187.5		190.0		11.2		—		—		—			201.2
All Other	718.9		186.2		488.9		1,394.0		274.9		234.5		5,622.6		818.5			8,344.5
Total Assets	$	10,806.3	$	2,606.0	$	5,159.8	$	18,572.1	$	3,386.3	$	3,047.3	$	29,418.7	$	2,883.3		$	57,307.7
Liabilities
Reserves and Policyholder Benefits	$	8,793.9	$	1,647.9	$	2,948.2	$	13,390.0	$	2,391.2	$	1,660.8	$	25,944.4	$	—		$	43,386.4
Debt	82.5		—		—		82.5		—		—		634.3		2,139.6			2,856.4
All Other	302.9		53.5		426.0		782.4		109.4		242.1		303.3		683.3			2,120.5
Total Liabilities	9,179.3		1,701.4		3,374.2		14,254.9		2,500.6		1,902.9		26,882.0		2,822.9			48,363.3
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity	1,535.8		867.0		1,672.8		4,075.6		757.7		1,071.0		2,384.3		(115.6		)	8,173.0
Net Unrealized Gain/Loss on Securities and Net Gain on Cash Flow Hedges	91.2		37.6		112.8		241.6		128.0		73.4		152.4		176.0			771.4
Total Allocated Stockholders' Equity	1,627.0		904.6		1,785.6		4,317.2		885.7		1,144.4		2,536.7		60.4			8,944.4
Total Liabilities and Allocated Stockholders' Equity	$	10,806.3	$	2,606.0	$	5,159.8	$	18,572.1	$	3,386.3	$	3,047.3	$	29,418.7	$	2,883.3		$	57,307.7

4. 3

Unum Group Financial Results by Segment

	Three Months Ended						Year Ended
	12/31/2011		12/31/2010		% Change		12/31/2011		12/31/2010		% Change
Premium Income
Unum US	$	1,083.0	$	1,060.3	2.1	%	$	4,296.0	$	4,255.4	1.0	%
Unum UK	169.2		170.5		(0.8	)	687.6		650.6		5.7
Colonial Life	289.2		273.6		5.7		1,135.3		1,075.7		5.5
Closed Block	347.1		363.8		(4.6	)	1,395.3		1,449.7		(3.8	)
	1,888.5		1,868.2		1.1		7,514.2		7,431.4		1.1
Net Investment Income
Unum US	238.8		242.3		(1.4	)%	951.4		941.5		1.1	%
Unum UK	50.6		48.6		4.1		189.9		170.5		11.4
Colonial Life	32.8		31.4		4.5		132.4		122.5		8.1
Closed Block	300.8		291.8		3.1		1,189.7		1,166.4		2.0
Corporate	11.6		20.2		(42.6	)	56.2		94.6		(40.6	)
	634.6		634.3		—		2,519.6		2,495.5		1.0
Other Income
Unum US	30.7		32.6		(5.8	)%	121.6		122.8		(1.0	)%
Unum UK	0.2		0.1		100.0		0.3		1.2		(75.0	)
Colonial Life	0.1		0.2		(50.0	)	0.5		0.7		(28.6	)
Closed Block	25.5		28.6		(10.8	)	106.1		113.6		(6.6	)
Corporate	17.8		1.6		N.M.		20.6		3.3		N.M.
	74.3		63.1		17.7		249.1		241.6		3.1
Total Operating Revenue
Unum US	1,352.5		1,335.2		1.3	%	5,369.0		5,319.7		0.9	%
Unum UK	220.0		219.2		0.4		877.8		822.3		6.7
Colonial Life	322.1		305.2		5.5		1,268.2		1,198.9		5.8
Closed Block	673.4		684.2		(1.6	)	2,691.1		2,729.7		(1.4	)
Corporate	29.4		21.8		34.9		76.8		97.9		(21.6	)
	$	2,597.4	$	2,565.6	1.2		$	10,282.9	$	10,168.5	1.1

5

Unum Group Financial Results by Segment

	Three Months Ended								Year Ended
	12/31/2011			12/31/2010			% Change		12/31/2011			12/31/2010			% Change
Benefits and Expenses
Unum US	$	1,143.9		$	1,141.2		0.2	%	$	4,549.2		$	4,550.6		—	%
Unum UK	166.3			171.1			(2.8	)	685.8			613.5			11.8
Colonial Life	254.5			244.4			4.1		986.1			916.7			7.6
Closed Block	1,688.3			655.2			157.7		3,612.6			2,612.1			38.3
Corporate	56.1			45.7			22.8		187.1			169.0			10.7
	3,309.1			2,257.6			46.6		10,020.8			8,861.9			13.1
Income (Loss) Before Income Tax and Net Realized Investment Gain (Loss)
Unum US	208.6			194.0			7.5	%	819.8			769.1			6.6	%
Unum UK	53.7			48.1			11.6		192.0			208.8			(8.0	)
Colonial Life	67.6			60.8			11.2		282.1			282.2			—
Closed Block	(1,014.9		)	29.0			N.M.		(921.5		)	117.6			N.M.
Corporate	(26.7		)	(23.9		)	11.7		(110.3		)	(71.1		)	55.1
	(711.7		)	308.0			N.M.		262.1			1,306.6			(79.9	)
Income Tax Expense (Benefit)	(281.5		)	99.4			N.M.		23.1			436.2			(94.7	)
Income (Loss) Before Net Realized Investment Gain (Loss)	(430.2		)	208.6			N.M.		239.0			870.4			(72.5	)
Net Realized Investment Gain (Loss)	7.4			27.5			(73.1	)	(4.9		)	24.7			(119.8	)
Tax Expense (Benefit) on Net Realized Investment Gain (Loss)	2.6			10.3			(74.8	)	(1.3		)	9.0			(114.4	)
Net Income (Loss)	$	(425.4	)	$	225.8		N.M.		$	235.4		$	886.1		(73.4	)

5. 1

Unum Group Quarterly Historical Financial Results by Segment

	12/31/11		9/30/11		6/30/11			3/31/11		12/31/10		9/30/10		6/30/10		3/31/10		12/31/09
Premium Income
Unum US	$	1,083.0	$	1,074.4	$	1,069.8		$	1,068.8	$	1,060.3	$	1,061.2	$	1,067.0	$	1,066.9	$	1,058.0
Unum UK	169.2		175.5		175.8			167.1		170.5		161.4		152.9		165.8		180.0
Colonial Life	289.2		283.7		282.0			280.4		273.6		269.3		267.7		265.1		257.4
Closed Block	347.1		347.6		347.4			353.2		363.8		358.3		362.2		365.4		370.3
	1,888.5		1,881.2		1,875.0			1,869.5		1,868.2		1,850.2		1,849.8		1,863.2		1,865.7
Net Investment Income
Unum US	238.8		240.0		238.9			233.7		242.3		232.1		237.8		229.3		230.8
Unum UK	50.6		43.3		51.1			44.9		48.6		39.0		43.1		39.8		40.8
Colonial Life	32.8		32.5		35.8			31.3		31.4		31.9		29.3		29.9		28.9
Closed Block	300.8		300.1		294.5			294.3		291.8		290.8		293.0		290.8		277.8
Corporate	11.6		13.3		16.8			14.5		20.2		24.6		26.6		23.2		17.4
	634.6		629.2		637.1			618.7		634.3		618.4		629.8		613.0		595.7
Other Income
Unum US	30.7		30.4		29.5			31.0		32.6		29.6		30.6		30.0		28.2
Unum UK	0.2		—		—			0.1		0.1		0.2		0.4		0.5		0.6
Colonial Life	0.1		0.1		0.2			0.1		0.2		0.2		0.1		0.2		0.1
Closed Block	25.5		26.4		26.7			27.5		28.6		27.8		28.6		28.6		31.3
Corporate	17.8		2.2		(0.4		)	1.0		1.6		0.4		0.8		0.5		0.9
	74.3		59.1		56.0			59.7		63.1		58.2		60.5		59.8		61.1
Total Operating Revenue
Unum US	1,352.5		1,344.8		1,338.2			1,333.5		1,335.2		1,322.9		1,335.4		1,326.2		1,317.0
Unum UK	220.0		218.8		226.9			212.1		219.2		200.6		196.4		206.1		221.4
Colonial Life	322.1		316.3		318.0			311.8		305.2		301.4		297.1		295.2		286.4
Closed Block	673.4		674.1		668.6			675.0		684.2		676.9		683.8		684.8		679.4
Corporate	29.4		15.5		16.4			15.5		21.8		25.0		27.4		23.7		18.3
	2,597.4		2,569.5		2,568.1			2,547.9		2,565.6		2,526.8		2,540.1		2,536.0		2,522.5

6

Unum Group Quarterly Historical Financial Results by Segment

	12/31/11			9/30/11			6/30/11			3/31/11			12/31/10			9/30/10			6/30/10			3/31/10			12/31/09
Benefits and Expenses
Unum US	$	1,143.9		$	1,134.9		$	1,132.2		$	1,138.2		$	1,141.2		$	1,131.5		$	1,135.1		$	1,142.8		$	1,129.9
Unum UK	166.3			183.9			172.2			163.4			171.1			153.4			143.5			145.5			160.1
Colonial Life	254.5			246.0			242.8			242.8			244.4			226.9			223.2			222.2			218.1
Closed Block	1,688.3			643.2			637.9			643.2			655.2			647.5			660.3			649.1			649.7
Corporate	56.1			44.3			41.4			45.3			45.7			42.1			40.4			40.8			42.9
	3,309.1			2,252.3			2,226.5			2,232.9			2,257.6			2,201.4			2,202.5			2,200.4			2,200.7
Income (Loss) Before Income Tax and Net Realized Investment Gain (Loss)
Unum US	208.6			209.9			206.0			195.3			194.0			191.4			200.3			183.4			187.1
Unum UK	53.7			34.9			54.7			48.7			48.1			47.2			52.9			60.6			61.3
Colonial Life	67.6			70.3			75.2			69.0			60.8			74.5			73.9			73.0			68.3
Closed Block	(1,014.9		)	30.9			30.7			31.8			29.0			29.4			23.5			35.7			29.7
Corporate	(26.7		)	(28.8		)	(25.0		)	(29.8		)	(23.9		)	(17.1		)	(13.0		)	(17.1		)	(24.6		)
	(711.7		)	317.2			341.6			315.0			308.0			325.4			337.6			335.6			321.8
Income Tax Expense (Benefit)	(281.5		)	95.7			109.6			99.3			99.4			105.5			109.0			122.3			103.5
Income (Loss) Before Net Realized Investment Gain (Loss)	(430.2		)	221.5			232.0			215.7			208.6			219.9			228.6			213.3			218.3
Net Realized Investment Gain (Loss)	7.4			(23.9		)	(3.6		)	15.2			27.5			1.1			(29.5		)	25.6			(25.9		)
Tax Expense (Benefit) on Net Realized Investment Gain (Loss)	2.6			(8.0		)	(1.4		)	5.5			10.3			0.2			(10.6		)	9.1			(7.0		)
Net Income (Loss)	$	(425.4	)	$	205.6		$	229.8		$	225.4		$	225.8		$	220.8		$	209.7		$	229.8		$	199.4
Net Income (Loss) Per Common Share - Assuming Dilution	$	(1.45	)	$	0.69		$	0.75		$	0.72		$	0.71		$	0.68		$	0.63		$	0.69		$	0.60

6. 1

Unum Group Financial Results for Unum US Segment

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income	$	1,083.0		$	1,060.3		$	4,296.0		$	4,255.4		$	4,278.4
Net Investment Income	238.8			242.3			951.4			941.5			934.3
Other Income	30.7			32.6			121.6			122.8			118.8
Total	1,352.5			1,335.2			5,369.0			5,319.7			5,331.5
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	787.7			778.3			3,113.5			3,124.4			3,192.1
Commissions	113.3			112.8			474.0			460.6			448.3
Interest and Debt Expense	0.2			0.3			1.0			1.2			2.0
Deferral of Acquisition Costs	(80.8		)	(77.7		)	(333.8		)	(323.2		)	(321.6		)
Amortization of Deferred Acquisition Costs	75.0			77.3			298.7			307.9			293.8
Other Expenses	248.5			250.2			995.8			979.7			999.3
Total	1,143.9			1,141.2			4,549.2			4,550.6			4,613.9
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	208.6		$	194.0		$	819.8		$	769.1		$	717.6
Operating Ratios (% of Premium Income):
Benefit Ratio	72.7		%	73.4		%	72.5		%	73.4		%	74.6		%
Other Expense Ratio	22.9		%	23.6		%	23.2		%	23.0		%	23.4		%
Before-tax Operating Income Ratio	19.3		%	18.3		%	19.1		%	18.1		%	16.8		%

7

Unum Group Financial Results for Unum US Group Disability

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Group Long-term Disability	$	394.9		$	405.8		$	1,580.2		$	1,639.4		$	1,726.9
Group Short-term Disability	116.2			108.4			455.2			430.9			432.8
Total Premium Income	511.1			514.2			2,035.4			2,070.3			2,159.7
Net Investment Income	150.8			157.2			605.0			614.6			629.4
Other Income	22.3			21.9			89.4			86.7			88.9
Total	684.2			693.3			2,729.8			2,771.6			2,878.0
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	432.7			433.2			1,722.1			1,747.8			1,862.8
Commissions	39.3			40.5			159.5			159.7			162.2
Interest and Debt Expense	0.2			0.3			1.0			1.2			2.0
Deferral of Acquisition Costs	(16.1		)	(13.8		)	(61.0		)	(59.0		)	(62.5		)
Amortization of Deferred Acquisition Costs	15.0			15.3			59.9			63.5			67.3
Other Expenses	135.9			140.8			547.0			543.7			572.6
Total	607.0			616.3			2,428.5			2,456.9			2,604.4
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	77.2		$	77.0		$	301.3		$	314.7		$	273.6
Operating Ratios (% of Premium Income):
Benefit Ratio	84.7		%	84.2		%	84.6		%	84.4		%	86.3		%
Other Expense Ratio	26.6		%	27.4		%	26.9		%	26.3		%	26.5		%
Before-tax Operating Income Ratio	15.1		%	15.0		%	14.8		%	15.2		%	12.7		%
Premium Persistency:
Group Long-term Disability							90.2		%	89.4		%	86.9		%
Group Short-term Disability							89.9		%	88.6		%	86.8		%
Case Persistency:
Group Long-term Disability							89.0		%	88.4		%	87.4		%
Group Short-term Disability							88.0		%	87.3		%	86.5		%

7. 1

Unum Group Financial Results for Unum US Group Life and Accidental Death & Dismemberment

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Group Life	$	281.4		$	275.8		$	1,106.7		$	1,090.3		$	1,057.7
Accidental Death & Dismemberment	27.6			26.8			109.2			106.1			104.9
Total Premium Income	309.0			302.6			1,215.9			1,196.4			1,162.6
Net Investment Income	33.9			33.8			135.5			129.6			126.5
Other Income	0.5			0.6			2.2			2.4			1.9
Total	343.4			337.0			1,353.6			1,328.4			1,291.0
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	218.5			212.7			854.6			839.9			815.5
Commissions	24.4			23.4			95.5			89.3			85.4
Deferral of Acquisition Costs	(13.3		)	(11.7		)	(51.9		)	(49.3		)	(48.1		)
Amortization of Deferred Acquisition Costs	10.8			10.2			43.1			43.3			45.9
Other Expenses	49.1			49.2			199.3			196.5			197.6
Total	289.5			283.8			1,140.6			1,119.7			1,096.3
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	53.9		$	53.2		$	213.0		$	208.7		$	194.7
Operating Ratios (% of Premium Income):
Benefit Ratio	70.7		%	70.3		%	70.3		%	70.2		%	70.1		%
Other Expense Ratio	15.9		%	16.3		%	16.4		%	16.4		%	17.0		%
Before-tax Operating Income Ratio	17.4		%	17.6		%	17.5		%	17.4		%	16.7		%
Premium Persistency:
Group Life							88.0		%	91.5		%	86.9		%
Accidental Death & Dismemberment							88.2		%	90.7		%	88.1		%
Case Persistency:
Group Life							88.6		%	88.3		%	87.2		%
Accidental Death & Dismemberment							88.6		%	88.4		%	87.2		%

7. 2

Unum Group Financial Results for Unum US Supplemental and Voluntary

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Individual Disability - Recently Issued	$	116.4		$	108.4		$	464.7		$	457.9		$	463.7
Voluntary Benefits	146.5			135.1			580.0			530.8			492.4
Total Premium Income	262.9			243.5			1,044.7			988.7			956.1
Net Investment Income	54.1			51.3			210.9			197.3			178.4
Other Income	7.9			10.1			30.0			33.7			28.0
Total	324.9			304.9			1,285.6			1,219.7			1,162.5
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	136.5			132.4			536.8			536.7			513.8
Commissions	49.6			48.9			219.0			211.6			200.7
Deferral of Acquisition Costs	(51.4		)	(52.2		)	(220.9		)	(214.9		)	(211.0		)
Amortization of Deferred Acquisition Costs	49.2			51.8			195.7			201.1			180.6
Other Expenses	63.5			60.2			249.5			239.5			229.1
Total	247.4			241.1			980.1			974.0			913.2
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	77.5		$	63.8		$	305.5		$	245.7		$	249.3
Operating Ratios (% of Premium Income):
Benefit Ratios:
Individual Disability - Recently Issued	52.4		%	55.1		%	52.2		%	53.3		%	51.4		%
Voluntary Benefits	51.5		%	53.8		%	50.7		%	55.1		%	56.0		%
Other Expense Ratio	24.2		%	24.7		%	23.9		%	24.2		%	24.0		%
Before-tax Operating Income Ratio	29.5		%	26.2		%	29.2		%	24.9		%	26.1		%
Interest Adjusted Loss Ratio:
Individual Disability - Recently Issued	30.8		%	32.8		%	30.8		%	32.5		%	32.5		%
Premium Persistency:
Individual Disability - Recently Issued							89.3		%	90.7		%	89.6		%
Voluntary Benefits							80.5		%	80.1		%	79.9		%

7. 3

Unum Group Financial Results for Unum UK Segment

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Group Long-term Disability	$	101.3		$	110.5		$	419.6		$	421.2		$	482.4
Group Life	52.0			44.8			203.6			171.6			147.8
Supplemental and Voluntary	15.9			15.2			64.4			57.8			55.9
Total Premium Income	169.2			170.5			687.6			650.6			686.1
Net Investment Income	50.6			48.6			189.9			170.5			124.5
Other Income	0.2			0.1			0.3			1.2			2.4
Total	220.0			219.2			877.8			822.3			813.0
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	117.0			122.3			493.8			435.8			373.6
Commissions	12.4			12.2			45.7			44.1			46.7
Deferral of Acquisition Costs	(9.4		)	(7.8		)	(30.6		)	(28.3		)	(29.1		)
Amortization of Deferred Acquisition Costs	7.2			6.7			29.2			27.0			30.5
Other Expenses	39.1			37.7			147.7			134.9			141.7
Total	166.3			171.1			685.8			613.5			563.4
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	53.7		$	48.1		$	192.0		$	208.8		$	249.6
Operating Ratios (% of Premium Income):
Benefit Ratio	69.1		%	71.7		%	71.8		%	67.0		%	54.5		%
Other Expense Ratio	23.1		%	22.1		%	21.5		%	20.7		%	20.7		%
Before-tax Operating Income Ratio	31.7		%	28.2		%	27.9		%	32.1		%	36.4		%
Premium Persistency:
Group Long-term Disability							86.6		%	91.3		%	88.5		%
Group Life							89.3		%	92.7		%	80.1		%
Supplemental and Voluntary							87.3		%	88.9		%	88.2		%

8

Unum Group Financial Results for Unum UK Segment - Continued

(in millions of pounds, except exchange rate)	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Group Long-term Disability	£	64.5		£	69.9		£	261.6		£	272.3		£	309.0
Group Life	33.1			28.3			127.0			110.9			94.1
Supplemental and Voluntary	10.0			9.7			40.1			37.4			35.6
Total Premium Income	107.6			107.9			428.7			420.6			438.7
Net Investment Income	32.2			30.7			118.4			110.2			79.6
Other Income	—			0.2			0.1			0.9			1.6
Total	139.8			138.8			547.2			531.7			519.9
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	74.4			77.3			307.7			281.4			238.3
Commissions	7.9			7.7			28.5			28.5			29.8
Deferral of Acquisition Costs	(5.9		)	(4.9		)	(19.1		)	(18.3		)	(18.5		)
Amortization of Deferred Acquisition Costs	4.5			4.2			18.2			17.4			19.5
Other Expenses	24.7			24.0			92.1			87.4			90.2
Total	105.6			108.3			427.4			396.4			359.3
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	£	34.2		£	30.5		£	119.8		£	135.3		£	160.6
Weighted Average Pound/Dollar Exchange Rate	1.570			1.577			1.603			1.543			1.554

8. 1

Unum Group Financial Results for Colonial Life Segment

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Accident, Sickness, and Disability	$	175.6		$	167.9		$	695.3		$	661.0		$	625.8
Life	50.7			45.5			190.7			176.5			165.6
Cancer and Critical Illness	62.9			60.2			249.3			238.2			223.7
Total Premium Income	289.2			273.6			1,135.3			1,075.7			1,015.1
Net Investment Income	32.8			31.4			132.4			122.5			114.3
Other Income	0.1			0.2			0.5			0.7			0.5
Total	322.1			305.2			1,268.2			1,198.9			1,129.9
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	151.9			146.2			589.4			534.7			480.6
Commissions	62.4			60.9			245.9			232.6			215.3
Deferral of Acquisition Costs	(63.0		)	(64.3		)	(252.9		)	(246.4		)	(229.0		)
Amortization of Deferred Acquisition Costs	49.7			49.3			189.0			187.2			178.5
Other Expenses	53.5			52.3			214.7			208.6			203.6
Total	254.5			244.4			986.1			916.7			849.0
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	67.6		$	60.8		$	282.1		$	282.2		$	280.9
Operating Ratios (% of Premium Income):
Benefit Ratio	52.5		%	53.4		%	51.9		%	49.7		%	47.3		%
Other Expense Ratio	18.5		%	19.1		%	18.9		%	19.4		%	20.1		%
Before-tax Operating Income Ratio	23.4		%	22.2		%	24.8		%	26.2		%	27.7		%
Persistency:
Accident, Sickness, and Disability							73.8		%	75.9		%	74.4		%
Life							85.0		%	86.0		%	84.7		%
Cancer and Critical Illness							84.0		%	84.9		%	83.8		%

9

Unum Group Financial Results for Closed Block Segment

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Premium Income
Individual Disability	$	192.0		$	212.0		$	787.0		$	847.0		$	898.5
Long-term Care	154.6			151.1			608.1			599.2			594.7
All Other	0.5			0.7			0.2			3.5			2.7
Total Premium Income	347.1			363.8			1,395.3			1,449.7			1,495.9
Net Investment Income	300.8			291.8			1,189.7			1,166.4			1,106.8
Other Income	25.5			28.6			106.1			113.6			131.1
Total	673.4			684.2			2,691.1			2,729.7			2,733.8
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	1,324.9			571.3			3,012.8			2,259.2			2,245.3
Commissions	28.4			29.4			113.6			118.1			126.8
Interest and Debt Expense	2.6			2.8			10.5			11.7			16.6
Deferral of Acquisition Costs	(3.0		)	(2.4		)	(11.0		)	(9.8		)	(13.9		)
Amortization of Deferred Acquisition Costs	1.5			6.1			16.9			25.0			23.4
Impairment of Long-term Care Deferred Acquisition Costs	289.8			—			289.8			—			—
Other Expenses	44.1			48.0			180.0			207.9			211.2
Total	1,688.3			655.2			3,612.6			2,612.1			2,609.4
Operating Income (Loss) Before Income Tax and Net Realized Investment Gains and Losses, as reported	$	(1,014.9	)	$	29.0		$	(921.5	)	$	117.6		$	124.4
Interest Adjusted Loss Ratios, as reported:
Individual Disability	180.4		%	84.7		%	108.0		%	85.0		%	81.6		%
Long-term Care	457.5		%	83.1		%	179.3		%	80.8		%	76.5		%
Operating Ratios (% of Premium Income):
Other Expense Ratio	12.7		%	13.2		%	12.9		%	14.3		%	14.1		%
Before-tax Operating Income (Loss) Ratio, as reported	(292.4		)%	8.0		%	(66.0		)%	8.1		%	8.3		%
Premium Persistency:
Individual Disability							92.9		%	93.0		%	93.2		%
Long-term Care							96.0		%	95.8		%	95.1		%

10

Unum Group Financial Results for Closed Block Segment - Continued

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Income (Loss) Before Income Tax and Net Realized Investment Gains and Losses, as reported	$	(1,014.9	)	$	29.0		$	(921.5	)	$	117.6		$	124.4
Individual Disability Reserve Charge	183.5			—			183.5			—			—
Long-term Care Reserve Charge	573.6			—			573.6			—			—
Impairment of Long-term Care Deferred Acquisition Costs	289.8			—			289.8			—			—
Operating Income Before Income Tax and Net Realized Investment Gains and Losses, as adjusted	$	32.0		$	29.0		$	125.4		$	117.6		$	124.4
Interest Adjusted Loss Ratios, as adjusted:
Individual Disability	84.8		%	84.7		%	84.7		%	85.0		%	81.6		%
Long-term Care	86.4		%	83.1		%	84.9		%	80.8		%	76.5		%
Operating Ratios (% of Premium Income):
Other Expense Ratio	12.7		%	13.2		%	12.9		%	14.3		%	14.1		%
Before-tax Operating Income Ratio, as adjusted	9.2		%	8.0		%	9.0		%	8.1		%	8.3		%

10.1

Unum Group Financial Results for Corporate Segment

	Three Months Ended						Year Ended
	12/31/2011			12/31/2010			12/31/2011			12/31/2010			12/31/2009
Operating Revenue
Net Investment Income	$	11.6		$	20.2		$	56.2		$	94.6		$	66.7
Other Income	17.8			1.6			20.6			3.3			4.4
Total	29.4			21.8			76.8			97.9			71.1
Expenses
Interest and Debt Expense	32.4			36.0			131.8			128.9			106.8
Other Expenses	23.7			9.7			55.3			40.1			56.2
Total	56.1			45.7			187.1			169.0			163.0
Operating Loss Before Income Tax and Net Realized Investment Gains and Losses	$	(26.7	)	$	(23.9	)	$	(110.3	)	$	(71.1	)	$	(91.9	)

11

Unum Group Reserves

	December 31, 2011
	Gross												Total
	Policy				Claim Reserves								Reinsurance		Total
	Reserves		%		Incurred		IBNR		%		Total		Ceded		Net
Group Disability	$	—	—	%	$	7,230.0	$	595.7	31.8	%	$	7,825.7	$	63.8	$	7,761.9
Group Life and Accidental Death & Dismemberment	74.3		0.5		780.5		146.2		3.8		1,001.0		1.0		1,000.0
Individual Disability - Recently Issued	546.7		3.7		1,063.9		104.5		4.8		1,715.1		91.0		1,624.1
Voluntary Benefits	1,138.6		7.7		42.1		45.8		0.3		1,226.5		26.5		1,200.0
Unum US Segment	1,759.6		11.9		9,116.5		892.2		40.7		11,768.3		182.3		11,586.0
Unum UK Segment	26.2		0.2		2,118.7		121.4		9.1		2,266.3		108.1		2,158.2
Colonial Life Segment	1,399.5		9.5		243.2		90.1		1.4		1,732.8		12.2		1,720.6
Individual Disability	1,112.3		7.6		10,494.0		299.1		43.9		11,905.4		1,477.2		10,428.2
Long-term Care	4,728.3		32.1		667.8		50.3		2.9		5,446.4		48.2		5,398.2
Other	5,687.9		38.7		306.5		186.7		2.0		6,181.1		4,824.6		1,356.5
Closed Block Segment	11,528.5		78.4		11,468.3		536.1		48.8		23,532.9		6,350.0		17,182.9
Subtotal, Excluding Unrealized Adjustment	$	14,713.8	100.0	%	$	22,946.7	$	1,639.8	100.0	%	39,300.3		6,652.6		32,647.7
Unrealized Adjustment to Reserves for Unrealized Gain on Securities											5,245.6		293.2		4,952.4
Consolidated											$	44,545.9	$	6,945.8	$	37,600.1

The increase in the Closed Block segment policy and claim reserves from December 31, 2010 is due primarily to the 2011 long-term care and individual disability reserve charges (see Conclusion of Long-term Care Strategic Review and Claim Reserve Increase for Individual Disability Closed Block Business in the "Notes to the Statistical Supplement" on pages 15 and 15.1). Excluding the reserve charge, total reserves for long-term care closed block increased due to normal growth in active life reserves. Excluding the reserve charge, claim reserves for individual disability closed block decreased due to higher claim recoveries partially offset by higher claim incidence rates.

12

Unum Group Reserves

	December 31, 2010
	Gross												Total
	Policy				Claim Reserves								Reinsurance		Total
	Reserves		%		Incurred		IBNR		%		Total		Ceded		Net
Group Disability	$	—	—	%	$	7,480.2	$	590.2	33.2	%	$	8,070.4	$	69.4	$	8,001.0
Group Life and Accidental Death & Dismemberment	72.9		0.5		783.7		152.8		3.8		1,009.4		1.5		1,007.9
Individual Disability - Recently Issued	534.5		3.9		1,005.1		99.9		4.5		1,639.5		88.3		1,551.2
Voluntary Benefits	1,060.3		7.7		24.1		59.0		0.4		1,143.4		24.8		1,118.6
Unum US Segment	1,667.7		12.1		9,293.1		901.9		41.9		11,862.7		184.0		11,678.7
Unum UK Segment	26.6		0.2		2,057.6		142.7		9.0		2,226.9		105.6		2,121.3
Colonial Life Segment	1,318.0		9.5		228.9		78.6		1.3		1,625.5		17.8		1,607.7
Individual Disability	1,249.1		9.0		10,335.3		309.6		43.7		11,894.0		1,457.4		10,436.6
Long-term Care	3,867.1		27.9		391.6		38.5		1.8		4,297.2		47.8		4,249.4
Other	5,703.8		41.3		364.7		196.9		2.3		6,265.4		4,860.1		1,405.3
Closed Block Segment	10,820.0		78.2		11,091.6		545.0		47.8		22,456.6		6,365.3		16,091.3
Subtotal, Excluding Unrealized Adjustment	$	13,832.3	100.0	%	$	22,671.2	$	1,668.2	100.0	%	38,171.7		6,672.7		31,499.0
Unrealized Adjustment to Reserves for Unrealized Gain on Securities											3,108.3		159.0		2,949.3
Consolidated											$	41,280.0	$	6,831.7	$	34,448.3

12. 1

Unum Group Investment Fact Sheet at December 31, 2011

	12/31/2011						12/31/2011			9/30/2011
Fixed Maturity Securities (Fair Value)						Selected Statistics
Public	$	27,819.0		65.5	%	Duration Weighted Book Yield	6.67		%	6.68		%
Asset-Backed Securities (1)	126.1			0.3		Average Duration (in years)	7.85			7.95
Residential Mortgage-Backed Securities (2)	2,754.6			6.5			.
Commercial Mortgage-Backed Securities	92.5			0.2
Private Placements	4,597.8			10.8
High Yield	2,766.6			6.5
Government Securities	2,681.1			6.3
Municipal Securities	1,591.6			3.8
Redeemable Preferred Stocks (3)	57.4			0.1
Total	$	42,486.7		100.0	%
	Amortized Cost			Fair Value
Quality Ratings of Fixed Maturity Securities						Schedule BA and Non-Current
Aaa	12.6		%	12.7	%	Total Non-Current Investments	$	58.6		$	51.2
Aa	8.5			8.8		Total Schedule BA Assets	$	436.3		$	413.6
A	30.1			31.1
Baa	41.2			40.8
Below Baa	7.6			6.6
Total	100.0		%	100.0	%
(1) Includes $0.6 million of high yield asset-backed securities.
(2) Includes $37.4 million of high yield mortgage-backed securities.
(3) Includes $6.3 million of high yield preferred stock.

13

Unum Group Investment Fact Sheet at December 31, 2011

Fixed Maturity Securities - By Industry Classification - Unrealized Gain (Loss)
Classification	Fair Value		Net Unrealized Gain			Fair Value of Fixed Maturity Securities with Gross Unrealized Loss		Gross Unrealized Loss		Fair Value of Fixed Maturity Securities with Gross Unrealized Gain		Gross Unrealized Gain
Basic Industry	$	2,283.2	$	216.4		$	227.5	$	21.6	$	2,055.7	$	238.0
Capital Goods	3,760.2		443.3			504.2		33.0		3,256.0		476.3
Communications	2,821.5		395.2			209.1		26.4		2,612.4		421.6
Consumer Cyclical	1,185.1		130.2			151.6		10.8		1,033.5		141.0
Consumer Non-Cyclical	5,374.9		860.3			187.9		8.4		5,187.0		868.7
Energy (Oil & Gas)	3,676.5		638.7			39.7		1.2		3,636.8		639.9
Financial Institutions	3,316.9		111.1			1,002.3		73.1		2,314.6		184.2
Mortgage/Asset-Backed	2,973.2		338.6			113.8		5.5		2,859.4		344.1
Sovereigns	1,376.7		237.3			—		—		1,376.7		237.3
Technology	824.3		123.1			40.0		0.5		784.3		123.6
Transportation	1,307.5		220.2			26.5		1.3		1,281.0		221.5
U.S. Government Agencies and Municipalities	2,896.0		512.4			133.2		9.9		2,762.8		522.3
Utilities	10,633.3		1,617.6			334.2		28.6		10,299.1		1,646.2
Redeemable Preferred Stocks	57.4		1.6			20.9		1.9		36.5		3.5
Total	$	42,486.7	$	5,846.0		$	2,990.9	$	222.2	$	39,495.8	$	6,068.2
Fixed Maturity Securities - Financial Institutions Classification - Unrealized Gain (Loss)
Associations	$	14.1	$	2.1		$	—	$	—	$	14.1	$	2.1
Banking	1,895.7		5.1			775.5		62.7		1,120.2		67.8
Brokerage	155.5		(3.9		)	96.6		6.2		58.9		2.3
Finance Non-Captive	10.4		0.4			—		—		10.4		0.4
Finance Captive	224.4		12.5			20.8		0.3		203.6		12.8
Insurance	677.4		69.9			92.4		3.4		585.0		73.3
Other Financial Institutions	59.4		0.8			17.0		0.5		42.4		1.3
Real Estate Management Services	280.0		24.2			—		—		280.0		24.2
Total	$	3,316.9	$	111.1		$	1,002.3	$	73.1	$	2,314.6	$	184.2
Gross Unrealized Loss on Fixed Maturity Securities By Length of Time in Unrealized Loss Position
	Investment-Grade							Below-Investment-Grade
Category	Fair Value		Gross Unrealized Loss					Fair Value		Gross Unrealized Loss
Less than 91 days	$	626.6	$	12.8				$	153.5	$	3.3
91 through 180 days	686.4		34.3					253.3		11.9
181 through 270 days	155.1		8.0					151.8		8.5
271 days to 1 year	—		—					15.0		0.7
Greater than 1 year	593.0		85.2					356.2		57.5
Total	$	2,061.1	$	140.3				$	929.8	$	81.9

13. 1

Unum Group Investment Fact Sheet at December 31, 2011

Asset and Mortgage-Backed Securities Portfolio
	Amortized Cost		Fair Value				% of Total Fixed Maturity Securities		Average Rating
Asset-Backed Securities
Credit Cards	$	124.5	$	125.5	4.2	%	0.3	%	AAA
Rate Reduction Bonds	—		—		—		—		—
Home Equity	0.9		0.6		—		—		B
Collateralized Debt Obligations	—		—		—		—		—
Total	125.4		126.1		4.2		0.3		AAA
Residential Mortgage-Backed Securities
Agency CMOs	2,231.9		2,563.7		86.3		6.0		AAA
Agency Pass-throughs	122.6		132.3		4.4		0.3		AAA
Non-agency CMOs - Prime	58.8		58.6		2.0		0.2		BAA2
Alt-A	—		—		—		—		—
Subprime	—		—		—		—		—
Collateralized Debt Obligations	—		—		—		—		—
Total	2,413.3		2,754.6		92.7		6.5		AAA
Commercial Mortgage-Backed Securities
Agency CMBS	95.9		92.5		3.1		0.2		A3
Total	$	2,634.6	$	2,973.2	100.0	%	7.0	%	AAA

13. 2

Unum Group Statutory Capital and Surplus

	As of December 31, 2011						As of December 31, 2010
	Capital and Surplus		AVR		Capital and Surplus + AVR		Capital and Surplus + AVR
Traditional U.S. Life Insurance Companies
Provident Life and Accident	$	653.0	$	81.0	$	734.0	$	732.0
Unum Life of America	1,548.8		199.5		1,748.3		1,741.1
Paul Revere Life (1)	408.0		40.2		448.2		451.6
Colonial Life & Accident	532.3		26.8		559.1		514.2
Provident Life and Casualty	142.0		8.2		150.2		149.5
First Unum Life	269.3		11.1		280.4		248.2
Paul Revere Variable (1)	36.9		0.6		37.5		35.6
(1) Capital and Surplus of Paul Revere Variable is included in Paul Revere Life
Special Purpose Reinsurance Vehicles
Tailwind Reinsurance Company	$	67.3	$	0.1	$	67.4	$	81.5
Northwind Reinsurance Company	1,159.2		3.7		1,162.9		1,198.6
UnumProvident International Ltd.	555.0		—		555.0		530.4

14

Unum Group Statutory Operating Results

	Twelve Months Ended December 31
	Net Gain (Loss) from Operations After Tax						Net Realized Investment Gains (Losses) After Tax and Transfer to IMR						Net Income (Loss)
Traditional U.S. Life Insurance Companies	2011			2010			2011			2010			2011			2010
Provident Life and Accident	$	172.4		$	141.5		$	(2.0	)	$	(11.2	)	$	170.4		$	130.3
Unum Life of America	227.7			256.8			(28.7		)	(10.5		)	199.0			246.3
Paul Revere Life	80.6			67.7			9.2			(2.8		)	89.8			64.9
Colonial Life & Accident	136.6			138.1			(0.6		)	4.2			136.0			142.3
Provident Life and Casualty	14.5			13.3			—			—			14.5			13.3
First Unum Life	29.7			25.6			1.0			1.6			30.7			27.2
Paul Revere Variable	2.5			2.7			—			1.8			2.5			4.5
Total, as reported	664.0			645.7			(21.1		)	(16.9		)	642.9			628.8
Intercompany Dividends	(19.7		)	(4.2		)	—			—			(19.7		)	(4.2		)
Total, as adjusted	$	644.3		$	641.5		$	(21.1	)	$	(16.9	)	$	623.2		$	624.6
Special Purpose Reinsurance Vehicles
Tailwind Reinsurance Company	$	5.4		$	6.7		$	—		$	—		$	5.4		$	6.7
Northwind Reinsurance Company	75.0			72.5			(0.4		)	(0.1		)	74.6			72.4
UnumProvident International Ltd.	(24.5		)	(4.7		)	9.5			11.9			(15.0		)	7.2
Total	$	55.9		$	74.5		$	9.1		$	11.8		$	65.0		$	86.3
	Three Months Ended December 31
	Net Gain (Loss) from Operations After Tax						Net Realized Investment Gains (Losses) After Tax and Transfer to IMR						Net Income (Loss)
Traditional U.S. Life Insurance Companies	2011			2010			2011			2010			2011			2010
Provident Life and Accident	$	46.9		$	40.2		$	1.4		$	(2.4	)	$	48.3		$	37.8
Unum Life of America	74.4			58.6			(7.3		)	3.1			67.1			61.7
Paul Revere Life	28.6			16.5			1.8			0.2			30.4			16.7
Colonial Life & Accident	35.4			31.0			1.3			0.1			36.7			31.1
Provident Life and Casualty	0.8			1.6			0.6			—			1.4			1.6
First Unum Life	(3.9		)	9.6			1.6			(0.8		)	(2.3		)	8.8
Paul Revere Variable	0.6			0.7			—			0.1			0.6			0.8
Total, as reported	182.8			158.2			(0.6		)	0.3			182.2			158.5
Intercompany Dividends	(4.9		)	(4.2		)	—			—			(4.9		)	(4.2		)
Total, as adjusted	$	177.9		$	154.0		$	(0.6	)	$	0.3		$	177.3		$	154.3
Special Purpose Reinsurance Vehicles
Tailwind Reinsurance Company	$	1.6		$	3.2		$	—		$	—		$	1.6		$	3.2
Northwind Reinsurance Company	15.5			25.3			—			—			15.5			25.3
UnumProvident International Ltd.	(3.3		)	4.7			—			3.5			(3.3		)	8.2
Total	$	13.8		$	33.2		$	—		$	3.5		$	13.8		$	36.7
Note: Statutory results for our domestic insurers are reported in conformity with statutory accounting principles as prescribed by the National Association of Insurance Commissioners and adopted by the applicable state laws. For UnumProvident International Ltd., results are reported in conformity with accounting principles as prescribed by applicable Bermuda laws.

14. 1

Unum Life Insurance Company of America - Statutory Basis

Group Accident and Health Statutory Claim Reserves and Liabilities, Net of Ceded

On Claims Incurred Prior to January 1

	2011			2010			2009
Reserve Balance from Prior Year End	$	6,829.4		$	6,880.9		$	6,982.6
Other Adjustments to Beginning Balance (see Schedule H)	—			(4.5		)	(5.2		)
Reserve Balance January 1 (a)	6,829.4			6,876.4			6,977.4
Paid on Prior Year Claims	(390.5		)	(374.3		)	(386.4		)
Interest Earned on Reserves	110.7			113.0			113.0
Incurred on Prior Year Claims	(122.3		)	(113.1		)	(103.0		)
Reserve Balance March 31	$	6,427.3		$	6,502.0		$	6,601.0
Reserve Balance March 31	$	6,427.3		$	6,502.0		$	6,601.0
Paid on Prior Year Claims	(339.9		)	(324.2		)	(335.6		)
Interest Earned on Reserves	104.0			108.2			108.3
Incurred on Prior Year Claims	(107.5		)	(117.5		)	(104.3		)
Reserve Balance June 30	$	6,083.9		$	6,168.5		$	6,269.4
Reserve Balance June 30	$	6,083.9		$	6,168.5		$	6,269.4
Reserves Ceded September 1 for Prior Year Incurrals	(3.9		)	—			—
Paid on Prior Year Claims	(316.4		)	(304.0		)	(307.6		)
Interest Earned on Reserves	98.9			103.1			103.9
Incurred on Prior Year Claims	(49.4		)	(75.1		)	(69.2		)
Reserve Balance September 30	$	5,813.1		$	5,892.5		$	5,996.5
Reserve Balance September 30	$	5,813.1		$	5,892.5		$	5,996.5
Paid on Prior Year Claims	(290.2		)	(282.9		)	(271.6		)
Interest Earned on Reserves	92.4			99.0			101.9
Incurred on Prior Year Claims	(113.4		)	(76.9		)	(83.7		)
Reserve Balance December 31 on Prior Year Claims	5,501.9			5,631.7			5,743.1
Reserve Balance December 31 on Current Year Claims	1,253.7			1,197.7			1,137.8
Reserve Balance December 31 on Total Claims Incurred(b)	$	6,755.6		$	6,829.4		$	6,880.9
(a) balances to Schedule H Part 3 Line 3.2 Column 2
(b) balances to Schedule H Part 2 Line C.1 Column 2

14. 2

Reconciliation to Unum Life Insurance Company of America - Statutory Basis

Schedule H Part 3 for Group Accident and Health

	2011			2010			2009
Paid on Prior Year Existing Claims - Full Year	$	1,337.0		$	1,285.4		$	1,301.2
(balances to Schedule H Part 3 Line 1.1 Column 2)
Incurred on Prior Year Claims - Full Year	$	(392.6	)	$	(382.6	)	$	(360.2	)
Interest Earned on Reserves - Full Year	406.2			423.3			427.1
Incurred on Prior Year Claims - Full Year, Excluding Interest Earned	$	13.6		$	40.7		$	66.9
(balances to Schedule H Part 3 Line 3.3 Column 2)
Note: Group A&H for Unum Life Insurance Company of America includes group long- and short-term disability, group accidental death & dismemberment, and group voluntary disability, cancer, and critical illness products reported in our Unum US segment as well as the reinsurance pools reported in our Closed Block segment.

14. 3

Notes to Statistical Supplement

Non-GAAP Financial Measures

We analyze our Company's performance using non-GAAP financial measures which exclude certain items and the related tax thereon from net income. We believe operating income or loss excluding realized investment gains and losses, which are recurring, is a better performance measure and a better indicator of the profitability and underlying trends in our business. Realized investment gains and losses are dependent on market conditions and general economic events and are not necessarily related to decisions regarding our Company's underlying business. We believe book value per common share excluding the components of Accumulated Other Comprehensive Income, certain of which tend to fluctuate depending on market conditions and general economic trends, are important measures.

2011 Significant Transactions and Events

Conclusion of Long-term Care Strategic Review

Following a comprehensive and strategic review of our long-term care business, in February 2012 we announced that we would discontinue selling group long-term care.  We discontinued selling individual long-term care during 2009. Because both group and individual long-term care are now considered closed blocks of business, effective December 31, 2011, we reclassified our long-term care products from the Unum US segment to the Closed Block segment.  We also reclassified our other insurance products not actively marketed, including individual life and corporate-owned life insurance, reinsurance pools and management operations, group pension, health insurance, and individual annuities, which were previously reported in the Corporate and Other segment to the Closed Block segment. The inclusion of all closed blocks of business into one operating segment aligns with our reporting and monitoring of our closed blocks of business within a discrete segment and is consistent with our separation of these blocks of business from the lines of business which actively market new products.  Prior period segment results have been restated to reflect these changes in our reporting classifications.

As part of the strategic review, and as is typical in the fourth quarter of each year, we analyzed our reserve assumptions for long-term care in conjunction with our annual loss recognition testing. We generally perform loss recognition tests on our deferred acquisition costs and policy reserves in the fourth quarter of each year, but more frequently if appropriate, using best estimate assumptions as of the date of the test. Included in the analysis was a review of our reserve discount rate assumptions and mortality and morbidity assumptions. Our analysis of reserve discount rate assumptions considered the significant decline in long-term interest rates which occurred late in the third quarter of 2011 due to the European Union debt crisis and the Federal Reserve's actions, including the announcement of "Operation Twist." We also considered an updated industry study for long-term care experience which was made available mid-year 2011 from the Society of Actuaries. Our analysis of this study, which was completed during the fourth quarter of 2011, showed that lower termination rates than we had previously assumed were beginning to emerge in industry and in our own company experience. Based on our analysis, as of December 31, 2011 we lowered the discount rate to reflect the low interest rate environment and our expectation of future investment portfolio yield rates. We also changed our mortality assumptions to reflect emerging experience due to an improvement in life expectancies which increases the ultimate number of people who will utilize long-term care benefits and also lengthens the amount of time a claimant receives long-term care benefits.  We changed our morbidity assumptions to reflect emerging industry experience as well as our own company experience. While our morbidity experience is still emerging and is not fully credible, we modified our assumptions to align more closely with the recently published industry study. Using our revised best estimate assumptions, as of December 31, 2011 we determined that our deferred acquisition costs of $289.8 million were not recoverable and that our policy and claim reserves should be increased by $573.6 million to reflect our current estimate of future benefit obligations. These charges decreased our 2011 net income by $561.2 million. The increase in reserves represented a 10.5 percent increase in long-term care policy and claim reserves as of December 31, 2011, which equal $5.4 billion subsequent to the charge. 

Claim Reserve Increase for Individual Disability Closed Block Business

Claim reserves supporting our individual disability closed block of business are calculated using assumptions based on actual experience believed to be currently appropriate. Claim reserves are subject to revision as current claim experience emerges and alters our view of future expectations. Claim resolution rates, which measure

(continued on next page) 15

the resolution of claims from recovery, deaths, settlements, and benefit expirations, are very sensitive to operational and environmental changes and can be volatile. Our claim resolution rate assumption used in determining reserves is our expectation of the resolution rate we will experience over the life of the block of business. We are now able, with a higher degree of confidence, to assess our own experience for older ages in our long duration lifetime claim block as our data has become credible. There is very little industry experience for lifetime disability benefits, as our insurance companies were the primary disability companies in the insurance industry at the time lifetime disability benefits were offered. These benefits were offered during the 1980s and 1990s, recent enough such that claimants are just reaching the older ages and providing us with data to build our claim experience base. Emerging experience indicates a longer life expectancy for our older age, longer duration disabled claimants, which lengthens the time a claimant receives disability benefits. As a result of this experience, as of December 31, 2011 we adjusted our mortality assumption within our claim resolution rate assumption and, as a result, increased our claim reserves for our individual disability closed block of business by $183.5 million and decreased net income by $119.3 million. The increase in reserves represented a 1.5 percent increase in individual disability policy and claim reserves as of December 31, 2011, which equal $11.9 billion subsequent to the charge. 

Share Repurchase Program

In February 2011, our board of directors authorized the repurchase of up to $1.0 billion of Unum Group's common stock, in addition to the amount remaining to be repurchased under the May 2010 $500.0 million authorization (See 2010 Significant Transactions and Events on page 15.2 for further discussion of the 2010 authorization). The $1.0 billion share repurchase program has an expiration date of August 2012.

In February 2011, we repurchased 7.1 million shares, at a cost of $200.0 million, using an accelerated repurchase agreement with a financial counterparty. As part of this transaction, we simultaneously entered into a forward contract indexed to the price of Unum Group common stock, which subjected the transaction to a future price adjustment. Under the terms of the repurchase agreement, we were to receive, or be required to pay, a price adjustment based on the volume weighted average price of Unum Group common stock during the term of the agreement, less a discount. Any price adjustment payable to us was to be settled in shares of Unum Group common stock. Any price adjustment we would have been required to pay would have been settled in either cash or common stock at our option. The final price adjustment settlement occurred in March 2011, resulting in the delivery to us of 0.6 million additional shares. In total, we repurchased 7.7 million shares pursuant to the accelerated repurchase agreement, which completed the May 2010 $500.0 million repurchase authorization and initiated the $1.0 billion repurchase program.

In addition to these repurchases, during 2011, we repurchased an additional 17.7 million shares on the open market at a cost of $419.9 million, including commissions of $0.3 million. The dollar value of shares remaining under the $1.0 billion repurchase program at December 31, 2011 was $524.7 million.

Pursuant to these repurchase programs, we retired 7.7 million shares during 2011. All other repurchased shares have been classified as treasury stock and accounted for using the cost method.

Income Tax

Our income tax for 2011 includes $41.3 million of tax benefits recognized due to a final settlement with the IRS with respect to our appeal of audit adjustments for the tax years 1996 to 2004. Our income tax for 2011 was unfavorably impacted by an $18.6 million tax charge related to the repatriation of £150.0 million of dividends from our U.K. subsidiaries.

The income tax rate in the U.K. is expected to be reduced annually, at least one percent per year, beginning in April 2011, with the ultimate goal of reducing the rate from 28 percent to 23 percent. In accordance with GAAP, we are required to adjust deferred tax assets and liabilities through income on the date of enactment of a rate change, the first of which occurred during the third quarter of 2010. An additional rate change was enacted during the third quarter of 2011. We recorded a reduction of $6.8 million and $2.7 million to our income tax expense during 2011 and 2010, respectively, to reflect the impact of the rate changes on our net deferred tax liability related to our U.K. operations.

(continued on next page) 15. 1

Financing

During 2011, the remaining $225.1 million of our 7.625% senior notes due March 2011 matured. We also made principal payments of $74.4 million and $10.0 million on our senior secured non-recourse floating rate notes issued by Northwind Holdings, LLC (Northwind) and Tailwind Holdings, LLC (Tailwind), respectively, during 2011. At December 31, 2011, short-term debt consisted of $312.3 million of securities lending agreements.

Accounting Developments

Accounting Standards Codification (ASC) 944 “Financial Services - Insurance”

In October 2010, the FASB issued an update to address the diversity in practice regarding the interpretation of which costs relating to the acquisition of new or renewal insurance contracts qualify as deferred acquisition costs.  The amendments in the update modify the existing guidance and require that only incremental direct costs associated with the successful acquisition of a new or renewal insurance contract can be capitalized. All other costs are to be expensed as incurred. The amendments in the update are effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2011 and permit retrospective application.

We had previously announced that our retrospective adoption of this update would result in a non-cash cumulative effect adjustment to the opening balance of stockholders' equity of between $400 million and $600 million in the year of adoption. As a result of the impairment of the long-term care deferred acquisition costs at December 31, 2011, as well as continued refinements in our estimate, we now expect that adoption of this standard during the first quarter of 2012 will result in a cumulative effect decrease in stockholders' equity as of January 1, 2012 of approximately $400 million.

2010 Significant Transactions and Events

Share Repurchase Program

InMay 2010, our board of directors authorized the repurchase of up to $500.0 million of Unum Group's common stock. During 2010, we repurchased 16.4 million shares, at a cost of $356.0 million under this share repurchase program.

Financing

In 2010, we issued $400.0 million of unsecured senior notes in a public offering.  These notes, due in 2020, bear interest at a fixed rate of 5.625% and are payable semi-annually.  The notes are callable at or above par and rank equally in right of payment with all of our other unsecured and unsubordinated debt.  In addition, these notes are effectively subordinated to any indebtedness of our subsidiaries.    

During 2010, we made principal payments of $58.3 million and $10.0 million on our senior secured non-recourse floating rate notes issued by Northwind and Tailwind, respectively. We also purchased and retired $10.0 million of our 7.08% medium-term notes due 2024.

Tax Law Change

In March 2010, the Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act of 2010 were signed into law.  Among other things, the new legislation reduces the tax benefits available to an employer that receives a postretirement prescription drug coverage subsidy from the federal government under the Medicare Prescription Drug, Improvement and Modernization Act of 2003.  Under the new legislation, to the extent our future postretirement prescription drug coverage expenses are reimbursed under the subsidy program, the expenses covered by the subsidy will no longer be tax deductible after 2012.  Employers that receive the subsidy must recognize the deferred tax effects relating to the future postretirement prescription drug coverage in the period the legislation was enacted.  Our income tax expense for 2010 includes a non-cash tax charge of $10.2 million which was recorded in the first quarter of 2010 to reflect the impact of the tax law change.

(continued on next page) 15. 2

2009 Significant Transactions and Events

Financing

In September 2009, we issued $350.0 million of unsecured senior notes in a public offering. These notes, due in 2016, bear interest at a fixed rate of 7.125% and are payable semi-annually. The notes are callable at or above par and rank equally in right of payment with all of our other unsecured and unsubordinated debt.

During 2009, we made principal payments of $48.0 million and $10.0 million on our senior secured non-recourse variable rate notes issued by Northwind and Tailwind, respectively. We also purchased and retired the remaining $132.2 million of our 5.859% senior notes due May 2009, $1.2 million aggregate principal of our 7.19% medium-term notes due 2028, and $0.6 million aggregate principal of our 6.75% notes due 2028 and repaid $58.3 million of reverse repurchase agreements outstanding at December 31, 2008.

Accounting Developments

ASC 105 “Generally Accepted Accounting Principles”

In June 2009, the FASB established the FASB Accounting Standards Codification (Codification) as the source of authoritative accounting principles to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP.  Securities and Exchange Commission (SEC) rules and interpretive releases, which may not be included in their entirety within the Codification, will remain as authoritative GAAP for SEC registrants.  We adopted Codification effective July 1, 2009. This adoption of Codification had no effect on our financial position or results of operations.

ASC 320 “Investments - Debt and Equity Securities”

In April 2009, the FASB issued a new accounting standard, now included in ASC 320, which amended the other-than-temporary impairment guidance for debt securities and expands and increases the frequency of previously existing disclosures for other-than-temporary impairments. The measure of impairment remains fair value. Under the standard, an other-than-temporary impairment must be recognized in earnings for a debt security in an unrealized loss position when an entity either (a) has the intent to sell the debt security or (b) more likely than not will be required to sell the debt security before its anticipated recovery. We adopted this standard effective April 1, 2009. The cumulative effect of applying the provisions of this standard increased the April 1, 2009 opening balance of retained earnings $14.3 million, net of tax of $7.7 million, with a corresponding adjustment to accumulated other comprehensive income (loss).

15. 3

Supplemental Exhibit
Restated Segment Financial Results For Changes in Reporting Classifications
	Unum US Segment
	Unum US Supplemental and Voluntary
	Closed Block Segment
	Corporate Segment

16

Unum Group Financial Results for Unum US Segment - Restated For Changes in Reporting Classifications

	Year Ended			Three Months Ended												Year Ended			Three Months Ended												Year Ended
	12/31/2009			3/31/2010			6/30/2010			9/30/2010			12/31/2010			12/31/2010			3/31/2011			6/30/2011			9/30/2011			12/31/2011			12/31/2011
Operating Revenue
Premium Income	$	4,278.4		$	1,066.9		$	1,067.0		$	1,061.2		$	1,060.3		$	4,255.4		$	1,068.8		$	1,069.8		$	1,074.4		$	1,083.0		$	4,296.0
Net Investment Income	934.3			229.3			237.8			232.1			242.3			941.5			233.7			238.9			240.0			238.8			951.4
Other Income	118.8			30.0			30.6			29.6			32.6			122.8			31.0			29.5			30.4			30.7			121.6
Total	5,331.5			1,326.2			1,335.4			1,322.9			1,335.2			5,319.7			1,333.5			1,338.2			1,344.8			1,352.5			5,369.0
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	3,192.1			778.4			786.8			780.9			778.3			3,124.4			770.4			773.1			782.3			787.7			3,113.5
Commissions	448.3			120.3			114.2			113.3			112.8			460.6			123.0			118.2			119.5			113.3			474.0
Interest and Debt Expense	2.0			0.3			0.3			0.3			0.3			1.2			0.3			0.2			0.3			0.2			1.0
Deferral of Acquisition Costs	(321.6		)	(85.3		)	(80.9		)	(79.3		)	(77.7		)	(323.2		)	(85.4		)	(84.9		)	(82.7		)	(80.8		)	(333.8		)
Amortization of Deferred Acquisition Costs	293.8			80.2			76.4			74.0			77.3			307.9			77.8			77.3			68.6			75.0			298.7
Other Expenses	999.3			248.9			238.3			242.3			250.2			979.7			252.1			248.3			246.9			248.5			995.8
Total	4,613.9			1,142.8			1,135.1			1,131.5			1,141.2			4,550.6			1,138.2			1,132.2			1,134.9			1,143.9			4,549.2
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	717.6		$	183.4		$	200.3		$	191.4		$	194.0		$	769.1		$	195.3		$	206.0		$	209.9		$	208.6		$	819.8
Operating Ratios (% of Premium Income):
Benefit Ratio	74.6		%	73.0		%	73.7		%	73.6		%	73.4		%	73.4		%	72.1		%	72.3		%	72.8		%	72.7		%	72.5		%
Other Expense Ratio	23.4		%	23.3		%	22.3		%	22.8		%	23.6		%	23.0		%	23.6		%	23.2		%	23.0		%	22.9		%	23.2		%
Before-tax Operating Income Ratio	16.8		%	17.2		%	18.8		%	18.0		%	18.3		%	18.1		%	18.3		%	19.3		%	19.5		%	19.3		%	19.1		%

16.1

Unum Group Financial Results for Unum US Supplemental and Voluntary - Restated For Changes in Reporting Classifications

	Year Ended			Three Months Ended												Year Ended			Three Months Ended												Year Ended
	12/31/2009			3/31/2010			6/30/2010			9/30/2010			12/31/2010			12/31/2010			3/31/2011			6/30/2011			9/30/2011			12/31/2011			12/31/2011
Operating Revenue
Premium Income
Individual Disability - Recently Issued	$	463.7		$	118.4		$	114.4		$	116.7		$	108.4		$	457.9		$	115.1		$	116.6		$	116.6		$	116.4		$	464.7
Voluntary Benefits	492.4			130.6			134.2			130.9			135.1			530.8			145.2			144.7			143.6			146.5			580.0
Total Premium Income	956.1			249.0			248.6			247.6			243.5			988.7			260.3			261.3			260.2			262.9			1,044.7
Net Investment Income	178.4			46.2			50.4			49.4			51.3			197.3			51.8			51.7			53.3			54.1			210.9
Other Income	28.0			7.7			8.4			7.5			10.1			33.7			8.3			7.0			6.8			7.9			30.0
Total	1,162.5			302.9			307.4			304.5			304.9			1,219.7			320.4			320.0			320.3			324.9			1,285.6
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	513.8			132.6			136.8			134.9			132.4			536.7			133.9			133.4			133.0			136.5			536.8
Commissions	200.7			56.9			53.2			52.6			48.9			211.6			58.7			55.3			55.4			49.6			219.0
Deferral of Acquisition Costs	(211.0		)	(56.5		)	(53.5		)	(52.7		)	(52.2		)	(214.9		)	(57.1		)	(56.9		)	(55.5		)	(51.4		)	(220.9		)
Amortization of Deferred Acquisition Costs	180.6			51.8			49.1			48.4			51.8			201.1			51.9			51.8			42.8			49.2			195.7
Other Expenses	229.1			61.7			57.1			60.5			60.2			239.5			64.0			62.1			59.9			63.5			249.5
Total	913.2			246.5			242.7			243.7			241.1			974.0			251.4			245.7			235.6			247.4			980.1
Operating Income Before Income Tax and Net Realized Investment Gains and Losses	$	249.3		$	56.4		$	64.7		$	60.8		$	63.8		$	245.7		$	69.0		$	74.3		$	84.7		$	77.5		$	305.5
Operating Ratios (% of Premium Income):
Benefit Ratios:
Individual Disability - Recently Issued	51.4		%	50.5		%	53.5		%	54.3		%	55.1		%	53.3		%	52.2		%	52.0		%	52.1		%	52.4		%	52.2		%
Voluntary Benefits	56.0		%	55.7		%	56.3		%	54.6		%	53.8		%	55.1		%	50.8		%	50.3		%	50.3		%	51.5		%	50.7		%
Other Expense Ratio	24.0		%	24.8		%	23.0		%	24.4		%	24.7		%	24.2		%	24.6		%	23.8		%	23.0		%	24.2		%	23.9		%
Before-tax Operating Income Ratio	26.1		%	22.7		%	26.0		%	24.6		%	26.2		%	24.9		%	26.5		%	28.4		%	32.6		%	29.5		%	29.2		%
Interest Adjusted Loss Ratio:
Individual Disability - Recently Issued	32.5		%	30.7		%	32.8		%	33.8		%	32.8		%	32.5		%	30.9		%	30.7		%	30.7		%	30.8		%	30.8		%

16.2

Unum Group Financial Results for Closed Block Segment - Restated For Changes in Reporting Classifications

	Year Ended			Three Months Ended												Year Ended			Three Months Ended												Year Ended
	12/31/2009			3/31/2010			6/30/2010			9/30/2010			12/31/2010			12/31/2010			3/31/2011			6/30/2011			9/30/2011			12/31/2011			12/31/2011
Operating Revenue
Premium Income
Individual Disability	$	898.5		$	214.0		$	212.5		$	208.5		$	212.0		$	847.0		$	202.3		$	196.3		$	196.4		$	192.0		$	787.0
Long-term Care	594.7			149.2			149.5			149.4			151.1			599.2			150.6			150.8			152.1			154.6			608.1
All Other	2.7			2.2			0.2			0.4			0.7			3.5			0.3			0.3			(0.9		)	0.5			0.2
Total Premium Income	1,495.9			365.4			362.2			358.3			363.8			1,449.7			353.2			347.4			347.6			347.1			1,395.3
Net Investment Income	1,106.8			290.8			293.0			290.8			291.8			1,166.4			294.3			294.5			300.1			300.8			1,189.7
Other Income	131.1			28.6			28.6			27.8			28.6			113.6			27.5			26.7			26.4			25.5			106.1
Total	2,733.8			684.8			683.8			676.9			684.2			2,729.7			675.0			668.6			674.1			673.4			2,691.1
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	2,245.3			561.1			562.5			564.3			571.3			2,259.2			562.7			559.3			565.9			1,324.9			3,012.8
Commissions	126.8			30.0			29.2			29.5			29.4			118.1			29.2			27.8			28.2			28.4			113.6
Interest and Debt Expense	16.6			2.8			3.0			3.1			2.8			11.7			2.7			2.6			2.6			2.6			10.5
Deferral of Acquisition Costs	(13.9		)	(2.6		)	(2.4		)	(2.4		)	(2.4		)	(9.8		)	(2.7		)	(2.6		)	(2.7		)	(3.0		)	(11.0		)
Amortization of Deferred Acquisition Costs	23.4			6.4			6.3			6.2			6.1			25.0			5.5			5.1			4.8			1.5			16.9
Impairment of Long-term Care Deferred Acquisition Costs	—			—			—			—			—			—			—			—			—			289.8			289.8
Other Expenses	211.2			51.4			61.7			46.8			48.0			207.9			45.8			45.7			44.4			44.1			180.0
Total	2,609.4			649.1			660.3			647.5			655.2			2,612.1			643.2			637.9			643.2			1,688.3			3,612.6
Operating Income (Loss) Before Income Tax and Net Realized Investment Gains and Losses, as reported	$	124.4		$	35.7		$	23.5		$	29.4		$	29.0		$	117.6		$	31.8		$	30.7		$	30.9		$	(1,014.9	)	$	(921.5	)
Interest Adjusted Loss Ratios, as reported:
Individual Disability	81.6		%	84.5		%	85.4		%	85.5		%	84.7		%	85.0		%	84.7		%	84.3		%	84.9		%	180.4		%	108.0		%
Long-term Care	76.5		%	78.5		%	80.8		%	80.9		%	83.1		%	80.8		%	83.0		%	84.3		%	86.0		%	457.5		%	179.3		%
Operating Ratios (% of Premium Income):
Other Expense Ratio	14.1		%	14.1		%	17.0		%	13.1		%	13.2		%	14.3		%	13.0		%	13.2		%	12.8		%	12.7		%	12.9		%
Before-tax Operating Income (Loss) Ratio, as reported	8.3		%	9.8		%	6.5		%	8.2		%	8.0		%	8.1		%	9.0		%	8.8		%	8.9		%	(292.4		)%	(66.0		)%

16.3

Unum Group Financial Results for Closed Block Segment - Restated For Changes in Reporting Classifications - Continued

	Year Ended			Three Months Ended												Year Ended			Three Months Ended												Year Ended
	12/31/2009			3/31/2010			6/30/2010			9/30/2010			12/31/2010			12/31/2010			3/31/2011			6/30/2011			9/30/2011			12/31/2011			12/31/2011
Operating Income (Loss) Before Income Tax and Net Realized Investment Gains and Losses, as reported	$	124.4		$	35.7		$	23.5		$	29.4		$	29.0		$	117.6		$	31.8		$	30.7		$	30.9		$	(1,014.9	)	$	(921.5	)
Individual Disability Reserve Charge	—			—			—			—			—			—			—			—			—			183.5			183.5
Long-term Care Reserve Charge	—			—			—			—			—			—			—			—			—			573.6			573.6
Impairment of Long-term Care Deferred Acquisition Costs	—			—			—			—			—			—			—			—			—			289.8			289.8
Operating Income Before Income Tax and Net Realized Investment Gains and Losses, as adjusted	$	124.4		$	35.7		$	23.5		$	29.4		$	29.0		$	117.6		$	31.8		$	30.7		$	30.9		$	32.0		$	125.4
Interest Adjusted Loss Ratios, as adjusted:
Individual Disability	81.6		%	84.5		%	85.4		%	85.5		%	84.7		%	85.0		%	84.7		%	84.3		%	84.9		%	84.8		%	84.7		%
Long-term Care	76.5		%	78.5		%	80.8		%	80.9		%	83.1		%	80.8		%	83.0		%	84.3		%	86.0		%	86.4		%	84.9		%
Operating Ratios (% of Premium Income):
Other Expense Ratio	14.1		%	14.1		%	17.0		%	13.1		%	13.2		%	14.3		%	13.0		%	13.2		%	12.8		%	12.7		%	12.9		%
Before-tax Operating Income Ratio, as adjusted	8.3		%	9.8		%	6.5		%	8.2		%	8.0		%	8.1		%	9.0		%	8.8		%	8.9		%	9.2		%	9.0		%

16.4

Unum Group Financial Results for Corporate Segment - Restated For Changes in Reporting Classifications

	Year Ended			Three Months Ended												Year Ended			Three Months Ended												Year Ended
	12/31/2009			3/31/2010			6/30/2010			9/30/2010			12/31/2010			12/31/2010			3/31/2011			6/30/2011			9/30/2011			12/31/2011			12/31/2011
Operating Revenue
Net Investment Income	$	66.7		$	23.2		$	26.6		$	24.6		$	20.2		$	94.6		$	14.5		$	16.8		$	13.3		$	11.6		$	56.2
Other Income	4.4			0.5			0.8			0.4			1.6			3.3			1.0			(0.4		)	2.2			17.8			20.6
Total	71.1			23.7			27.4			25.0			21.8			97.9			15.5			16.4			15.5			29.4			76.8
Expenses
Interest and Debt Expense	106.8			30.3			30.8			31.8			36.0			128.9			34.9			32.3			32.2			32.4			131.8
Other Expenses	56.2			10.5			9.6			10.3			9.7			40.1			10.4			9.1			12.1			23.7			55.3
Total	163.0			40.8			40.4			42.1			45.7			169.0			45.3			41.4			44.3			56.1			187.1
Operating Loss Before Income Tax and Net Realized Investment Gains and Losses	$	(91.9	)	$	(17.1	)	$	(13.0	)	$	(17.1	)	$	(23.9	)	$	(71.1	)	$	(29.8	)	$	(25.0	)	$	(28.8	)	$	(26.7	)	$	(110.3	)

16.5