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): October 25, 2017
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 October 25, 2017, Unum Group issued a news release reporting its results for the third quarter of 2017, 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 October 25, 2017, Unum Group posted on its website at www.unum.com the Statistical Supplement relating to its financial results for the third quarter of 2017. 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 in this report, including Exhibits 99.1 and 99.2, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference into any of Unum Group's filings under the Securities Act of 1933 or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

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 October 25, 2017, concerning earnings for the third quarter of 2017.
99.2	Statistical Supplement of Unum Group for the third quarter of 2017.

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)
October 25, 2017	By:	/s/ J. Paul Jullienne
		Name:	J. Paul Jullienne
		Title:	Vice President, Managing Counsel, and
			Corporate Secretary

INDEX TO EXHIBITS

Exhibit No.	Description
99.1	News release of Unum Group dated October 25, 2017, concerning earnings for the third quarter of 2017.
99.2	Statistical Supplement of Unum Group for the third quarter of 2017.

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
		Matt Barnett	423 294 7498
	MEDIA	Jim Sabourin	423 294 6300

Unum Group Reports Third Quarter 2017 Results

CHATTANOOGA, Tenn.(October 25, 2017) - Unum Group (NYSE: UNM) today reported net income of $252.3 million ($1.12 per diluted common share) for the third quarter of 2017, compared to net income of $236.0 million ($1.01 per diluted common share) for the third quarter of 2016.

After-tax operating income, which excludes net after-tax realized investment gains and losses on the Company’s investment portfolio, was $246.1 million ($1.09 per diluted common share) in the third quarter of 2017, compared to $228.7 million ($0.98 per diluted common share) in the third quarter of 2016. Net after-tax realized investment gains were $6.2 million ($0.03 per diluted common share) in the third quarter of 2017, compared to $7.3 million ($0.03 per diluted common share) in the third quarter of 2016.

“Third quarter results continued a trend of very good results for the company. This consistent performance has been driven by solid top-line growth, overall stable benefits experience, and good expense management,” said Richard P. McKenney, president and chief executive officer.  “We remain focused on effectively serving our customers and executing our business strategy. Our disciplined approach is yielding steady growth, strong financial performance, and value creation for our shareholders.”

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

RESULTS BY SEGMENT

We measure and analyze our segment performance on the basis of "operating income" or "operating loss", which differ from income before income tax as presented in our consolidated statements of income due to the exclusion of net realized investment gains and losses and certain other items. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for income before income tax or net income. 

Unum US Segment

Unum US reported operating income of $258.4 million in the third quarter of 2017, an increase of 11.9 percent from $231.0 million in the third quarter of 2016. Premium income for the segment increased 3.5 percent to $1,360.9 million in the third quarter of 2017, compared to premium income of $1,315.0 million in the third quarter of 2016. Net investment income for the segment declined 3.0 percent to $201.0 million in the third quarter of 2017, compared to $207.3 million in the third quarter of 2016.

Within the Unum US operating segment, the group disability line of business reported a 5.4 percent increase in operating income to $90.0 million in the third quarter of 2017, compared to $85.4 million in the third quarter of 2016. Premium income in group disability increased 2.2 percent to $596.3 million in the third quarter of 2017, compared to $583.6 million in the third quarter of 2016, primarily due to sales growth, partially offset by a decline in persistency. Net investment income declined by 5.3 percent to $113.7 million in the third quarter of 2017, compared to $120.1 million in the third quarter of 2016, due to a decrease in the level of invested assets and a decline in portfolio yield, partially offset by higher miscellaneous income. The benefit ratio for the third quarter of 2017 was 76.7 percent, compared to 78.6 percent in the third quarter of 2016, reflecting continued favorable incidence trends in our group long-term disability product line and lower prevalence rates in our group short-term disability product line. Partially offsetting these positive trends was the 50 basis point reduction in the discount rate used for new claim incurrals for the group long-term disability line of business implemented in the fourth quarter of 2016. Group long-term disability sales were $31.1 million in the third quarter of 2017, an increase of 28.0 percent from $24.3 million in the third quarter of 2016. Group short-term disability sales were $20.7 million in the third quarter of 2017, an increase of 76.9 percent from $11.7 million in the third quarter of 2016. Persistency in the group long-term disability line of business was 89.5 percent for the first nine months of 2017, compared to 90.5 percent for the first nine months of 2016. Persistency in the group short-term disability line of business was 86.3 percent for the first nine months of 2017, compared to 87.4 percent for the first nine months of 2016.

The group life and accidental death and dismemberment line of business reported operating income of $60.1 million in the third quarter of 2017, an increase of 12.5 percent from $53.4 million in the third quarter of 2016. Premium income for this line of business increased 4.8 percent to $407.2 million in the third quarter of 2017, compared to $388.7 million in the third quarter of 2016, primarily due to sales growth, partially offset by a decline in persistency. Net investment income declined 2.8 percent to $27.3 million in the third quarter of 2017, compared to $28.1 million in the third quarter of 2016, primarily due to a decline in yield and a decline in

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

the level of invested assets supporting this line of business, partially offset by an increase in miscellaneous income. The benefit ratio in the third quarter of 2017 was 71.4 percent, compared to 72.6 percent in the third quarter of 2016, reflecting lower incidence and average claim size in the group life product line. Sales of group life and accidental death and dismemberment products increased 12.9 percent in the third quarter of 2017 to $35.1 million, compared to $31.1 million in the third quarter of 2016. Persistency in the group life line of business was 87.7 percent for the first nine months of 2017, compared to 90.3 percent for the first nine months of 2016.

The supplemental and voluntary line of business reported an increase of 17.5 percent in operating income to $108.3 million in the third quarter of 2017, compared to $92.2 million in the third quarter of 2016. Premium income for supplemental and voluntary increased 4.3 percent to $357.4 million in the third quarter of 2017, compared to $342.7 million in the third quarter of 2016. This increase was primarily driven by the addition of the dental and vision product offering resulting from an acquisition in August 2016, as well as growth in the in-force block of voluntary benefits due to sales growth. The increase was only partially offset by a decline in the in-force individual disability line due to the impact of a reinsurance transaction executed in the fourth quarter of 2016 to cede a portion of the individual disability product line, which offset an increase in the in-force block due to sales growth. Net investment income increased 1.5 percent to $60.0 million in the third quarter of 2017, compared to $59.1 million in the third quarter of 2016, due to an increase in the level of invested assets and miscellaneous income, partially offset by a decline in yield. The benefit ratio for the individual disability product line was 48.3 percent for the third quarter of 2017, compared to 52.6 percent for the third quarter of 2016, reflecting lower claim volumes in the current quarter, partially offset by the impact of the reinsurance agreement. The benefit ratio for voluntary benefits was 44.1 percent in the third quarter of 2017, compared to 46.5 percent in the third quarter of 2016, primarily driven by favorable benefits experience across most of the product lines. The benefit ratio for dental and vision was 70.1 percent for the third quarter of 2017, compared to 68.0 percent for the third quarter of 2016, primarily driven by less favorable claims experience. Relative to the third quarter of 2016, sales in the individual disability line of business increased 24.4 percent in the third quarter of 2017 to $20.4 million. Sales in the voluntary benefits line of business decreased 1.8 percent in the third quarter of 2017 to $44.8 million. Sales in the dental and vision line totaled $9.7 million for the third quarter of 2017. Persistency in the individual disability product line was 91.1 percent for the first nine months of 2017, compared to 91.2 percent for the first nine months of 2016. Persistency in the voluntary benefits product line was 76.8 percent for both the first nine months of 2017 and 2016. Persistency in the dental and vision product line was 84.2 percent in the first nine months of 2017.

Unum UK Segment

Unum UK reported operating income of $26.5 million in the third quarter of 2017, a decline of 6.0 percent from $28.2 million in the third quarter of 2016. In local currency, operating income declined by 6.0 percent to £20.2 million in the third quarter of 2017, compared to £21.5 million in the third quarter of 2016.

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

Premium income increased by 3.3 percent to $131.5 million in the third quarter of 2017, compared to $127.3 million in the third quarter of 2016. In local currency, premium income was £100.4 million in the third quarter of 2017, an increase of 3.6 percent from £96.9 million in the third quarter of 2016, primarily driven by growth in the in-force block, resulting from prior period sales and stable persistency. Net investment income was $28.5 million in both the third quarter of 2017 and 2016. In local currency, net investment income was £21.8 million in the third quarter of 2017, compared to £21.7 million in the third quarter of 2016, primarily due to higher income from inflation index-linked bonds which support the claim reserves associated with certain group policies that provide inflation-linked increases in benefits and growth in the level of invested assets, partially offset by a decline in yield on fixed-rate bonds. The benefit ratio in the third quarter of 2017 was 74.9 percent, compared to 71.8 percent in the third quarter of 2016, reflecting higher claim incidence and unfavorable claim resolutions in the group long-term disability product line and the impact from inflation-linked increases in benefits, partially offset by a lower average claim size in the group life product line. Also contributing to the less favorable benefits experience was a reduction of 80 basis points in the discount rate implemented in the first quarter of 2017 across several of our products.

Sales declined by 14.9 percent to $16.5 million in the third quarter of 2017, compared to $19.4 million in the third quarter of 2016. In local currency, sales for the third quarter of 2017 declined by 14.2 percent to £12.7 million compared to £14.8 million in the third quarter of 2016. Persistency in the group long-term disability line of business was 87.1 percent for the first nine months of 2017, compared to 88.7 percent for the first nine months of 2016. Persistency in the group life line of business was 83.5 percent for the first nine months of 2017, compared to 80.1 percent for the first nine months of 2016. Persistency in the supplemental line of business was 89.5 percent for the first nine months of 2017 compared to 90.5 percent for the first nine months of 2016.

Colonial Life Segment

Colonial Life reported a 3.4 percent increase in operating income to $81.7 million in the third quarter of 2017, compared to $79.0 million in the third quarter of 2016.

Premium income for the third quarter of 2017 increased 6.9 percent to $378.7 million, compared to $354.1 million in the third quarter of 2016, driven by sales growth in recent quarters and stable persistency. Net investment income totaled $36.0 million in the third quarter of 2017, compared to $36.1 million in the third quarter of 2016, primarily driven by a decline in portfolio yield and lower miscellaneous income, which was partially offset by an increase in the level of invested assets. The benefit ratio in the third quarter of 2017 was 51.8 percent, compared to 51.6 percent in the third quarter of 2016, reflecting less favorable benefits experience in the cancer and critical illness lines of business, mostly offset by favorable experience in the life and accident, sickness, and disability lines of business.

Sales increased 2.6 percent to $106.9 million in the third quarter of 2017 from $104.2 million in the third quarter of 2016, driven by increased sales in the core commercial market segment and public sector. Persistency in Colonial Life was 79.0 percent for both the first nine months of 2017 and 2016.

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

Closed Block Segment

The Closed Block segment reported operating income of $26.6 million in the third quarter of 2017, compared to $28.6 million in the third quarter of 2016.

Premium income for this segment declined 3.6 percent in the third quarter of 2017 compared to the third quarter of 2016, primarily due to expected policy terminations and maturities for the individual disability line of business which was partially offset by an increase in premium income for the long-term care line of business resulting from premium rate increases on certain in-force policies. Net investment income increased 0.9 percent to $337.2 million in the third quarter of 2017, compared to $334.1 million in the third quarter of 2016, due to an increase in the level of invested assets which was partially offset by a decline in yield. The interest adjusted loss ratio for the individual disability line of business increased to 82.4 percent in the third quarter of 2017, compared to 81.5 percent in the third quarter of 2016, due to unfavorable mortality experience. The interest adjusted loss ratio for the long-term care line of business was 93.3 percent in the third quarter of 2017 compared to 93.8 percent in the third quarter of 2016, due to the impact of a large group case moving to an individual policy ported status in 2016, partially offset by unfavorable policyholder lapses in the current quarter.

Corporate Segment

The Corporate segment reported an operating loss of $36.2 million for the third quarter of 2017, compared to an operating loss of $45.7 million in the third quarter of 2016, primarily driven by lower operating expenses and lower interest expense due to a lower level of outstanding debt, partially offset by a higher overall rate of interest.

The Company previously excluded the amortization of prior period actuarial gains or losses, a component of the net periodic benefit cost for the Company’s pension and other postretirement benefit plans, from the results of the Corporate segment. Effective January 1, 2017, the amortization of prior period actuarial gains or losses is now reported in the Corporate segment and amounts for prior periods have been adjusted to conform to current year reporting.

OTHER INFORMATION

Shares Outstanding

The Company’s weighted average number of shares outstanding, assuming dilution, was 226.0 million for the third quarter of 2017, compared to 234.2 million for the third quarter of 2016. Shares outstanding totaled 224.4 million at September 30, 2017. During the third quarter of 2017, the Company repurchased approximately 2.0 million shares at a cost of approximately $100 million.

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

Capital Management

At September 30, 2017, the weighted average risk-based capital ratio for the Company’s traditional U.S. insurance companies was approximately 410 percent and cash and marketable securities in the holding companies equaled $771 million, excluding amounts committed for subsidiary contributions.

Book Value

Book value per common share as of September 30, 2017 was $42.11, compared to $40.33 at September 30, 2016.

Outlook

The Company’s expectation for after-tax operating income growth per share for full-year 2017 is at, to slightly above, the upper end of its range of five percent to eight percent established in the second quarter of 2017.

NON-GAAP FINANCIAL MEASURES

We analyze our performance using non-GAAP financial measures.  A non-GAAP financial measure is a numerical measure of a company's performance, financial position, or cash flows that excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP.  The non-GAAP financial measure of "after-tax operating income" differs from net income as presented in our consolidated operating results and income statements prepared in accordance with GAAP due to the exclusion of net realized investment gains and losses as specified in the reconciliations in the Financial Highlights section below.  We believe operating income is a better performance measure and better indicator of the profitability and underlying trends in our business. 

Realized investment gains or losses depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our segments.  Our investment focus is on investment income to support our insurance liabilities as opposed to the generation of realized investment gains or losses.  Although we may experience realized investment gains or losses which will affect future earnings levels, a long-term focus is necessary to maintain profitability over the life of the business since our underlying business is long-term in nature, and we need to earn the interest rates assumed in calculating our liabilities.

We previously excluded the amortization of prior period actuarial gains or losses, a component of the net periodic benefit cost for our pension and other postretirement benefit plans. Effective January 1, 2017, the amortization of prior period actuarial gains or losses is now included in "after-tax operating income" in the Financial Highlights section below. Amounts for periods prior to January 1, 2017 have been adjusted to conform to current year reporting. 

We may at other times exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace net income or net loss as a measure of our overall profitability.

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

Information reconciling the Company’s outlook on after-tax operating income growth per share to the comparable GAAP financial measure is not provided. The only amounts excluded from after-tax operating income are those described in the preceding paragraphs. The Company is unable to predict with reasonable certainty realized investment gains and losses, which are affected by overall market conditions and also by factors such as an economic or political change in the country of the issuer, a regulatory change pertaining to the issuer’s industry, a significant improvement or deterioration in the cash flows of the issuer, unforeseen accounting irregularities or fraud committed by an issuer, movement in credit spreads, ratings upgrades or downgrades, a change in the issuer’s marketplace or business prospects, or any other event that significantly affects the issuers of the fixed maturity securities which the Company holds in its investment portfolio.

CONFERENCE CALL INFORMATION

Members of Unum Group senior management will host a conference call on Thursday, October 26, at 8:00 a.m. (Eastern Time) to discuss the results of operations for the third 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) 231-9012 for U.S. and Canada (pass code 9545873). For international, the dial-in number is (719) 325-4856 (pass code 9545873). 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 approximately 5-10 minutes prior to the start of the call. The Company will maintain a replay of the call on its website through Thursday, November 2. A replay of the call will also be available by dialing (866) 375-1919 (U.S. and Canada) or (719) 457-0820 (International) - pass code 9545873.

In conjunction with today’s earnings announcement, the Company’s Statistical Supplement for the third quarter of 2017 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 our outlook, 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, 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) sustained periods of low interest rates; (2) fluctuation in insurance reserve liabilities and claim payments due to changes in claim incidence,

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

recovery rates, mortality and morbidity rates, and policy benefit 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 our claims operational processes, and changes in government programs; (3) unfavorable economic or business conditions, both domestic and foreign; (4) legislative, regulatory, or tax changes, both domestic and foreign, including the effect of potential legislation and increased regulation in the current political environment; (5) investment results, including, but not limited to, changes in interest rates, defaults, changes in credit spreads, impairments, and the lack of appropriate investments in the market which can be acquired to match our liabilities; (6) a cyber attack or other security breach could result in the unauthorized acquisition of confidential data; (7) the failure of our business recovery and incident management processes to resume our business operations in the event of a natural catastrophe, cyber attack, or other event; (8) increased competition from other insurers and financial services companies due to industry consolidation, new entrants to our markets, or other factors; (9) execution risk related to our technology needs; (10) changes in our financial strength and credit ratings; (11) damage to our reputation due to, among other factors, regulatory investigations, legal proceedings, external events, and/or inadequate or failed internal controls and procedures; (12) actual experience that deviates from our assumptions used in pricing, underwriting, and reserving; (13) actual persistency and/or sales growth that is higher or lower than projected; (14) changes in demand for our products due to, among other factors, changes in societal attitudes, the rate of unemployment, consumer confidence, and/or legislative and regulatory changes, including healthcare reform; (15) effectiveness of our risk management program; (16) contingencies and the level and results of litigation; (17) availability of reinsurance in the market and the ability of our reinsurers to meet their obligations to us; (18) ineffectiveness of our derivatives hedging programs due to changes in the economic environment, counterparty risk, ratings downgrades, capital market volatility, changes in interest rates, and/or regulation; (19) changes in accounting standards, practices, or policies; (20) fluctuation in foreign currency exchange rates; (21) ability to generate sufficient internal liquidity and/or obtain external financing; (22) recoverability and/or realization of the carrying value of our intangible assets, long-lived assets, and deferred tax assets; and (23) terrorism, both within the U.S. and abroad, ongoing military actions, and heightened security measures in response to these types of threats.

For further discussion of risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part 1, Item 1A “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2016, and, to the extent applicable, our subsequent quarterly reports on Form 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. 8

Unum Group

FINANCIAL HIGHLIGHTS

(Unaudited)

($ in millions, except share data)
	Three Months Ended September 30						Nine Months Ended September 30
	2017			2016			2017			2016
Revenue
Premium Income	$	2,153.6		$	2,089.4		$	6,438.7		$	6,258.5
Net Investment Income	609.0			611.4			1,831.9			1,841.1
Net Realized Investment Gain (Loss)	9.8			11.0			28.9			(4.2		)
Other Income	46.7			51.5			148.1			154.6
Total Revenue	2,819.1			2,763.3			8,447.6			8,250.0
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	1,765.6			1,742.6			5,266.6			5,205.9
Commissions	262.4			256.8			793.9			771.7
Interest and Debt Expense	40.1			45.2			119.8			126.2
Deferral of Acquisition Costs	(154.8		)	(147.8		)	(470.1		)	(447.0		)
Amortization of Deferred Acquisition Costs	123.7			118.8			403.5			377.2
Other Expenses	415.3			415.6			1,275.2			1,239.5
Total Benefits and Expenses	2,452.3			2,431.2			7,388.9			7,273.5
Income Before Income Tax	366.8			332.1			1,058.7			976.5
Income Tax	114.5			96.1			331.4			293.1
Net Income	$	252.3		$	236.0		$	727.3		$	683.4
PER SHARE INFORMATION
Net Income Per Common Share
Basic	$	1.12		$	1.01		$	3.20		$	2.89
Assuming Dilution	$	1.12		$	1.01		$	3.19		$	2.88
Weighted Average Common Shares - Basic (000s)	225,288.1			233,752.0			227,375.5			236,744.3
Weighted Average Common Shares - Assuming Dilution (000s)	226,029.8			234,213.5			228,180.5			237,143.8
Outstanding Shares - (000s)							224,366.6			232,095.5

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

Reconciliation of Non-GAAP Financial Measures

	Three Months Ended September 30
	2017				2016
	(in millions)		per share *		(in millions)		per share *
Net Income	$	252.3	$	1.12	$	236.0	$	1.01
Excluding:
Net Realized Investment Gain (net of tax expense of $3.6; $3.7)	6.2		0.03		7.3		0.03
After-tax Operating Income	$	246.1	$	1.09	$	228.7	$	0.98
* Assuming Dilution

	September 30
	2017						2016
	(in millions)			per share			(in millions)			per share
Total Stockholders' Equity (Book Value)	$	9,448.6		$	42.11		$	9,361.2		$	40.33
Excluding:
Net Unrealized Gain on Securities	557.4			2.48			803.2			3.47
Net Gain on Cash Flow Hedges	290.7			1.30			335.2			1.44
Subtotal	8,600.5			38.33			8,222.8			35.42
Excluding:
Foreign Currency Translation Adjustment	(265.3		)	(1.18		)	(305.2		)	(1.32		)
Subtotal	8,865.8			39.51			8,528.0			36.74
Excluding:
Unrecognized Pension and Postretirement Benefit Costs	(458.5		)	(2.05		)	(382.5		)	(1.65		)
Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Income	$	9,324.3		$	41.56		$	8,910.5		$	38.39

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

EX-99.2

Unum Group

Statistical Supplement Third Quarter 2017

TABLE OF CONTENTS

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

Interim Results are Unaudited

		Page
	Financial Highlights	1
	Capital Metrics	2
	Ratings	3
	Consolidated Statements of Income	4
	Sales Data by Segment	5
	Consolidated Balance Sheets	6
	Financial Results by Segment	7
	Quarterly Historical Financial Results by Segment	8
	Financial Results and Selected Statistics by Segment
	Unum US	9
	Unum UK	10
	Colonial Life	11
	Closed Block	12
	Corporate	13
	Reserves	14
	Investments	15
	Appendix to Statistical Supplement	16
See "Appendix to Statistical Supplement" on page 16 for a summary of significant items and page 16.1 for a reconciliation of our non-GAAP financial measures.
N.M. = not a meaningful percentage

Unum Group Financial Highlights

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Consolidated U.S. GAAP Results1
Premium Income	$	2,153.6		$	2,089.4		$	6,438.7		$	6,258.5		$	8,357.7		$	8,082.4
Operating Revenue	$	2,809.3		$	2,752.3		$	8,418.7		$	8,254.2		$	11,022.3		$	10,775.1
Net Realized Investment Gain (Loss)	9.8			11.0			28.9			(4.2		)	24.2			(43.8		)
Revenue	$	2,819.1		$	2,763.3		$	8,447.6		$	8,250.0		$	11,046.5		$	10,731.3
Net Income	$	252.3		$	236.0		$	727.3		$	683.4		$	931.4		$	867.1
Net Income Per Common Share:
Basic	$	1.12		$	1.01		$	3.20		$	2.89		$	3.96		$	3.51
Assuming Dilution	$	1.12		$	1.01		$	3.19		$	2.88		$	3.95		$	3.50
Assets							$	63,805.7		$	63,905.1		$	61,941.5		$	60,563.6
Stockholders' Equity							$	9,448.6		$	9,361.2		$	8,968.0		$	8,663.9
Operating Return on Equity2
Unum US	16.6		%	15.0		%	16.1		%	14.6		%	15.0		%	13.3		%
Unum UK	14.1		%	20.7		%	15.0		%	19.5		%	18.6		%	18.0		%
Colonial Life	17.1		%	17.3		%	17.2		%	17.5		%	17.4		%	16.6		%
Core Operating Segments	16.5		%	16.0		%	16.2		%	15.7		%	15.9		%	14.5		%
Consolidated	11.5		%	11.2		%	11.5		%	11.2		%	11.2		%	11.2		%

Traditional U.S. Life Insurance Companies' Statutory Results3
Net Gain from Operations, After Tax	$	187.2	$	211.5		$	592.5	$	624.0		$	884.6		$	689.2
Net Realized Investment Gain (Loss), After Tax	3.1		(7.7		)	2.5		(21.4		)	(29.5		)	(35.5		)
Net Income	$	190.3	$	203.8		$	595.0	$	602.6		$	855.1		$	653.7
Capital and Surplus						$	3,683.6	$	3,475.7		$	3,626.9		$	3,470.3
Weighted Average Risk-based Capital Ratio						~ 410%		~ 395%			~ 400%			~ 400%

¹ Generally Accepted Accounting Principles

² We previously excluded the amortization of prior period actuarial gains or losses, a component of the net periodic benefit cost for our pension and other postretirement benefit plans. Effective January 1, 2017, the amortization of prior period actuarial gains or losses is now reported in our Corporate segment.  Amounts for periods prior to January, 1, 2017 have been adjusted to conform to current year reporting. See page 13.

³ Our traditional U.S. life insurance companies are Provident Life and Accident Insurance Company, Unum Life Insurance Company of America, The Paul Revere Life Insurance Company, Colonial Life & Accident Insurance Company, Provident Life and Casualty Insurance Company, First Unum Life Insurance Company, Unum Insurance Company, and Starmount Life Insurance Company.

1

Unum Group Capital Metrics

	9/30/2017						9/30/2016						12/31/2016						12/31/2015
	(in millions)			per share			(in millions)			per share			(in millions)			per share			(in millions)			per share
Total Stockholders' Equity (Book Value)	$	9,448.6		$	42.11		$	9,361.2		$	40.33		$	8,968.0		$	39.02		$	8,663.9		$	35.96
Excluding:
Net Unrealized Gain on Securities	557.4			2.48			803.2			3.47			440.6			1.92			204.3			0.84
Net Gain on Cash Flow Hedges	290.7			1.30			335.2			1.44			327.5			1.42			378.0			1.57
Subtotal	8,600.5			38.33			8,222.8			35.42			8,199.9			35.68			8,081.6			33.55
Excluding:
Foreign Currency Translation Adjustment	(265.3		)	(1.18		)	(305.2		)	(1.32		)	(354.0		)	(1.54		)	(173.6		)	(0.72		)
Subtotal	8,865.8			39.51			8,528.0			36.74			8,553.9			37.22			8,255.2			34.27
Excluding:
Unrecognized Pension and Postretirement Benefit Costs	(458.5		)	(2.05		)	(382.5		)	(1.65		)	(465.1		)	(2.02		)	(392.6		)	(1.63		)
Total Stockholders' Equity, Excluding Accumulated Other Comprehensive Income (Loss)	$	9,324.3		$	41.56		$	8,910.5		$	38.39		$	9,019.0		$	39.24		$	8,647.8		$	35.90
Dividends Paid	$	144.1		$	0.63		$	136.2		$	0.57		$	182.6		$	0.77		$	174.2		$	0.70

	Three Months Ended				Nine Months Ended						Year Ended
	9/30/2017		9/30/2016		9/30/2017			9/30/2016			12/31/2016			12/31/2015
Shares Repurchased (millions)	2.0		2.9		6.3			9.4			11.9			12.3
Cost of Shares Repurchased (millions)(1)	$	100.2	$	100.2	$	300.3		$	300.3		$	403.3		$	426.7
Price (UNM closing price on last trading day of period)					$	51.13		$	35.31		$	43.93		$	33.29
Leverage Ratio					26.2		%	27.2		%	27.2		%	25.5		%
Holding Company Cash and Marketable Securities(2)					$	771		$	598		$	594		$	475

⁽¹⁾ Includes commissions of $0.1 million for the three month period ended September 30, 2017 and 2016, $0.2 million for the nine month period ended September 30, 2017 and 2016, and $0.2 million and $0.3 million for the years ended December 31, 2016 and 2015, respectively.

⁽²⁾ Excludes amounts committed for subsidiary contributions.

2

Unum Group Ratings

	AM Best	Fitch	Moody's	S&P
Outlook	Stable	Stable	Stable	Stable
Issuer Credit Ratings	bbb	BBB	Baa2	BBB
Financial Strength Ratings
Provident Life and Accident Insurance Company	A	A	A2	A
Unum Life Insurance Company of America	A	A	A2	A
Colonial Life & Accident Insurance Company	A	A	A2	A
The Paul Revere Life Insurance Company	A	A	A2	A
Starmount Life Insurance Company	A-	NR	NR	NR
Unum Insurance Company	A-	A	A2	NR
Unum Limited	NR	NR	NR	A-

NR = not rated

3

Unum Group Consolidated Statements of Income

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Revenue
Premium Income	$	2,153.6		$	2,089.4		$	6,438.7		$	6,258.5		$	8,357.7		$	8,082.4
Net Investment Income	609.0			611.4			1,831.9			1,841.1			2,459.0			2,481.2
Net Realized Investment Gain (Loss)	9.8			11.0			28.9			(4.2		)	24.2			(43.8		)
Other Income	46.7			51.5			148.1			154.6			205.6			211.5
Total Revenue	2,819.1			2,763.3			8,447.6			8,250.0			11,046.5			10,731.3
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	1,765.6			1,742.6			5,266.6			5,205.9			6,941.8			6,782.8
Commissions	262.4			256.8			793.9			771.7			1,026.7			996.3
Interest and Debt Expense - Non-recourse Debt	1.7			1.7			5.1			5.1			6.9			6.6
Interest and Debt Expense - All Other Debt	38.4			43.5			114.7			121.1			159.1			146.2
Deferral of Acquisition Costs	(154.8		)	(147.8		)	(470.1		)	(447.0		)	(592.4		)	(569.7		)
Amortization of Deferred Acquisition Costs	123.7			118.8			403.5			377.2			493.0			482.3
Other Expenses	415.3			415.6			1,275.2			1,239.5			1,663.7			1,648.5
Total Benefits and Expenses	2,452.3			2,431.2			7,388.9			7,273.5			9,698.8			9,493.0
Income Before Income Tax	366.8			332.1			1,058.7			976.5			1,347.7			1,238.3
Income Tax Expense	114.5			96.1			331.4			293.1			416.3			371.2
Net Income	$	252.3		$	236.0		$	727.3		$	683.4		$	931.4		$	867.1
Average Weighted Shares Outstanding
Basic	225.3			233.8			227.4			236.7			235.4			247.0
Assuming Dilution	226.0			234.2			228.2			237.1			236.0			247.9
Actual Number of Shares Outstanding							224.4			232.1			229.8			240.9

4

Unum Group Sales Data for Unum US Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017		9/30/2016		% Change		9/30/2017		9/30/2016		% Change		12/31/2016		12/31/2015
Sales by Product
Group Disability and Group Life and AD&D
Group Long-term Disability	$	31.1	$	24.3	28.0	%	$	114.6	$	110.1	4.1	%	$	217.8	$	239.7
Group Short-term Disability	20.7		11.7		76.9		65.0		52.8		23.1		114.6		119.7
Group Life and AD&D	35.1		31.1		12.9		131.8		127.2		3.6		270.1		250.1
Subtotal	86.9		67.1		29.5		311.4		290.1		7.3		602.5		609.5
Supplemental and Voluntary
Individual Disability	20.4		16.4		24.4		50.2		47.7		5.2		65.1		67.5
Voluntary Benefits	44.8		45.6		(1.8	)	241.7		216.3		11.7		261.7		262.6
Dental and Vision	9.7		4.5		115.6		30.0		4.5		N.M.		14.5		—
Subtotal	74.9		66.5		12.6		321.9		268.5		19.9		341.3		330.1
Total Sales	$	161.8	$	133.6	21.1		$	633.3	$	558.6	13.4		$	943.8	$	939.6
Sales by Market Sector
Group Disability and Group Life and AD&D
Core Market (< 2,000 employees)	$	65.5	$	52.8	24.1	%	$	212.1	$	196.4	8.0	%	$	378.1	$	405.4
Large Case Market	21.4		14.3		49.7		99.3		93.7		6.0		224.4		204.1
Subtotal	86.9		67.1		29.5		311.4		290.1		7.3		602.5		609.5
Supplemental and Voluntary	74.9		66.5		12.6		321.9		268.5		19.9		341.3		330.1
Total Sales	$	161.8	$	133.6	21.1		$	633.3	$	558.6	13.4		$	943.8	$	939.6

5

Unum Group Sales Data for Unum UK Segment

	Three Months Ended						Nine Months Ended						Year Ended
(in millions of dollars)	9/30/2017		9/30/2016		% Change		9/30/2017		9/30/2016		% Change		12/31/2016		12/31/2015
Sales by Product
Group Long-term Disability	$	6.5	$	11.6	(44.0	)%	$	31.5	$	36.4	(13.5	)%	$	50.2	$	53.4
Group Life	7.8		6.1		27.9		17.7		16.2		9.3		23.8		25.7
Supplemental	2.2		1.7		29.4		12.2		8.2		48.8		10.5		5.0
Total Sales	$	16.5	$	19.4	(14.9	)	$	61.4	$	60.8	1.0		$	84.5	$	84.1
Sales by Market Sector
Group Long-term Disability and Group Life
Core Market (< 500 employees)	$	6.1	$	10.9	(44.0	)%	$	21.6	$	30.6	(29.4	)%	$	42.0	$	44.3
Large Case Market	8.2		6.8		20.6		27.6		22.0		25.5		32.0		34.8
Subtotal	14.3		17.7		(19.2	)	49.2		52.6		(6.5	)	74.0		79.1
Supplemental	2.2		1.7		29.4		12.2		8.2		48.8		10.5		5.0
Total Sales	$	16.5	$	19.4	(14.9	)	$	61.4	$	60.8	1.0		$	84.5	$	84.1
(in millions of pounds)
Sales by Product
Group Long-term Disability	£	5.0	£	8.8	(43.2	)%	£	24.9	£	26.1	(4.6	)%	£	37.2	£	35.0
Group Life	6.1		4.7		29.8		13.9		11.7		18.8		17.8		16.8
Supplemental	1.6		1.3		23.1		9.6		5.8		65.5		7.7		3.3
Total Sales	£	12.7	£	14.8	(14.2	)	£	48.4	£	43.6	11.0		£	62.7	£	55.1
Sales by Market Sector
Group Long-term Disability and Group Life
Core Market (< 500 employees)	£	4.8	£	8.4	(42.9	)%	£	17.0	£	22.1	(23.1	)%	£	31.2	£	29.0
Large Case Market	6.3		5.1		23.5		21.8		15.7		38.9		23.8		22.8
Subtotal	11.1		13.5		(17.8	)	38.8		37.8		2.6		55.0		51.8
Supplemental	1.6		1.3		23.1		9.6		5.8		65.5		7.7		3.3
Total Sales	£	12.7	£	14.8	(14.2	)	£	48.4	£	43.6	11.0		£	62.7	£	55.1

5. 1

Unum Group Sales Data for Colonial Life Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017		9/30/2016		% Change		9/30/2017		9/30/2016		% Change		12/31/2016		12/31/2015
Sales by Product
Accident, Sickness, and Disability	$	66.5	$	67.0	(0.7	)%	$	201.6	$	195.4	3.2	%	$	310.6	$	276.1
Life	22.6		20.9		8.1		68.4		59.6		14.8		94.0		85.6
Cancer and Critical Illness	17.8		16.3		9.2		49.9		47.6		4.8		79.0		76.8
Total Sales	$	106.9	$	104.2	2.6		$	319.9	$	302.6	5.7		$	483.6	$	438.5
Sales by Market Sector
Commercial
Core Market (< 1,000 employees)	$	69.7	$	67.7	3.0	%	$	220.5	$	201.0	9.7	%	$	309.0	$	290.8
Large Case Market	7.0		10.6		(34.0	)	26.7		32.9		(18.8	)	59.8		54.2
Subtotal	76.7		78.3		(2.0	)	247.2		233.9		5.7		368.8		345.0
Public Sector	30.2		25.9		16.6		72.7		68.7		5.8		114.8		93.5
Total Sales	$	106.9	$	104.2	2.6		$	319.9	$	302.6	5.7		$	483.6	$	438.5

5. 2

Unum Group Consolidated Balance Sheets

	September 30			December 31
	2017			2016
Assets
Investments
Fixed Maturity Securities	$	45,422.6		$	44,217.3
Mortgage Loans	2,145.3			2,038.9
Policy Loans	3,567.5			3,463.2
Other Long-term Investments	654.5			631.5
Short-term Investments	1,046.5			780.0
Total Investments	52,836.4			51,130.9
Other Assets
Cash and Bank Deposits	70.1			100.4
Accounts and Premiums Receivable	1,697.7			1,610.8
Reinsurance Recoverable	4,893.7			4,858.9
Accrued Investment Income	692.5			693.3
Deferred Acquisition Costs	2,155.3			2,094.2
Goodwill	338.2			335.1
Property and Equipment	489.9			500.6
Other Assets	631.9			617.3
Total Assets	$	63,805.7		$	61,941.5
Liabilities
Policy and Contract Benefits	$	1,539.0		$	1,507.9
Reserves for Future Policy and Contract Benefits	45,456.9			44,245.9
Unearned Premiums	430.1			363.7
Other Policyholders’ Funds	1,606.9			1,623.8
Income Tax Payable	40.7			20.6
Deferred Income Tax	231.8			130.3
Short-term Debt	199.9			—
Long-term Debt - Non-recourse	210.8			255.0
Long-term Debt - All Other	2,543.3			2,744.4
Payables for Collateral on Investments	398.3			406.0
Other Liabilities	1,699.4			1,675.9
Total Liabilities	54,357.1			52,973.5
Stockholders’ Equity
Common Stock	30.4			30.4
Additional Paid-in Capital	2,295.2			2,272.8
Accumulated Other Comprehensive Income (Loss)	124.3			(51.0		)
Retained Earnings	9,327.2			8,744.0
Treasury Stock	(2,328.5		)	(2,028.2		)
Total Stockholders’ Equity	9,448.6			8,968.0
Total Liabilities and Stockholders’ Equity	$	63,805.7		$	61,941.5

6

Unum Group Deferred Acquisition Costs by Segment

	Unum US			Unum UK			Colonial Life			Consolidated
Balances at December 31, 2015	$	1,136.4		$	27.1		$	845.0		$	2,008.5
Capitalization	314.1			8.2			270.1			592.4
Amortization	(275.2		)	(9.7		)	(208.1		)	(493.0		)
Adjustment Related to Unrealized Investment Gains and Losses	1.2			—			(10.7		)	(9.5		)
Foreign Currency	—			(4.2		)	—			(4.2		)
Balances at December 31, 2016	1,176.5			21.4			896.3			2,094.2
Capitalization	244.0			5.4			220.7			470.1
Amortization	(228.3		)	(6.8		)	(168.4		)	(403.5		)
Adjustment Related to Unrealized Investment Gains and Losses	(0.5		)	—			(6.8		)	(7.3		)
Foreign Currency	—			1.8			—			1.8
Balances at September 30, 2017	$	1,191.7		$	21.8		$	941.8		$	2,155.3

6. 1

Unum Group Balance Sheets by Segment - September 30, 2017

	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	$	8,726.5	$	2,338.0	$	4,643.8	$	15,708.3	$	3,107.9	$	2,947.2	$	28,756.8		$	2,316.2		$	52,836.4
Deferred Acquisition Costs	95.7		77.1		1,018.9		1,191.7		21.8		941.8		—			—			2,155.3
Goodwill	—		—		271.1		271.1		39.4		27.7		—			—			338.2
All Other	387.9		142.7		367.5		898.1		253.8		182.7		5,960.2			1,181.0			8,475.8
Total Assets	$	9,210.1	$	2,557.8	$	6,301.3	$	18,069.2	$	3,422.9	$	4,099.4	$	34,717.0		$	3,497.2		$	63,805.7
Liabilities
Reserves and Policyholder Benefits	$	7,463.4	$	1,720.2	$	4,003.9	$	13,187.5	$	2,642.6	$	2,433.4	$	30,769.4		$	—		$	49,032.9
Debt	—		—		—		—		—		—		210.8			2,743.2			2,954.0
All Other	250.1		43.6		448.5		742.2		93.0		306.2		(24.1		)	1,252.9			2,370.2
Total Liabilities	7,713.5		1,763.8		4,452.4		13,929.7		2,735.6		2,739.6		30,956.1			3,996.1			54,357.1
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity	1,475.1		767.4		1,718.5		3,961.0		630.6		1,256.3		3,298.7			(546.1		)	8,600.5
Net Unrealized Gain on Securities and Net Gain on Cash Flow Hedges	21.5		26.6		130.4		178.5		56.7		103.5		462.2			47.2			848.1
Total Allocated Stockholders' Equity	1,496.6		794.0		1,848.9		4,139.5		687.3		1,359.8		3,760.9			(498.9		)	9,448.6
Total Liabilities and Allocated Stockholders' Equity	$	9,210.1	$	2,557.8	$	6,301.3	$	18,069.2	$	3,422.9	$	4,099.4	$	34,717.0		$	3,497.2		$	63,805.7

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 our target capital levels for regulatory and rating agency purposes. We modify this formula periodically to recognize changes in the views of capital requirements.

6. 2

Unum Group Balance Sheets by Segment - December 31, 2016

	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	$	8,763.7	$	2,327.1	$	4,488.9	$	15,579.7	$	2,856.9	$	2,787.4	$	27,894.5		$	2,012.4		$	51,130.9
Deferred Acquisition Costs	89.8		73.4		1,013.3		1,176.5		21.4		896.3		—			—			2,094.2
Goodwill	—		—		271.1		271.1		36.3		27.7		—			—			335.1
All Other	445.4		144.0		419.9		1,009.3		186.8		211.8		5,839.8			1,133.6			8,381.3
Total Assets	$	9,298.9	$	2,544.5	$	6,193.2	$	18,036.6	$	3,101.4	$	3,923.2	$	33,734.3		$	3,146.0		$	61,941.5
Liabilities
Reserves and Policyholder Benefits	$	7,495.6	$	1,690.4	$	3,872.2	$	13,058.2	$	2,365.4	$	2,341.7	$	29,976.0		$	—		$	47,741.3
Debt	—		—		—		—		—		—		255.0			2,744.4			2,999.4
All Other	272.7		58.1		429.5		760.3		72.0		270.8		(105.5		)	1,235.2			2,232.8
Total Liabilities	7,768.3		1,748.5		4,301.7		13,818.5		2,437.4		2,612.5		30,125.5			3,979.6			52,973.5
Allocated Stockholders' Equity
Other Allocated Stockholders' Equity	1,511.1		766.9		1,790.2		4,068.2		571.3		1,227.0		3,173.9			(840.5		)	8,199.9
Net Unrealized Gain on Securities and Net Gain on Cash Flow Hedges	19.5		29.1		101.3		149.9		92.7		83.7		434.9			6.9			768.1
Total Allocated Stockholders' Equity	1,530.6		796.0		1,891.5		4,218.1		664.0		1,310.7		3,608.8			(833.6		)	8,968.0
Total Liabilities and Allocated Stockholders' Equity	$	9,298.9	$	2,544.5	$	6,193.2	$	18,036.6	$	3,101.4	$	3,923.2	$	33,734.3		$	3,146.0		$	61,941.5

6. 3

Unum Group Financial Results by Segment

We measure and analyze our segment performance on the basis of "operating revenue" and "operating income" or "operating loss", which differ from total revenue and income before income tax as presented in our consolidated statements of income due to the exclusion of net realized investment gains and losses and certain other items as specified in the following pages. These performance measures are in accordance with GAAP guidance for segment reporting, but they should not be viewed as a substitute for total revenue, income before income tax, or net income.  We previously excluded the amortization of prior period actuarial gains or losses, a component of the net periodic benefit cost for our pension and other postretirement benefit plans. Effective January 1, 2017, the amortization of prior period actuarial gains or losses is now reported in our Corporate segment as a component of "benefits and expenses" and the tax thereon is reported in "income tax" in the following charts.  Amounts for periods prior to January, 1, 2017 have been adjusted to conform to current year reporting.

	Three Months Ended						Nine Months Ended
	9/30/2017		9/30/2016		% Change		9/30/2017		9/30/2016		% Change
Premium Income
Unum US	$	1,360.9	$	1,315.0	3.5	%	$	4,079.0	$	3,915.7	4.2	%
Unum UK	131.5		127.3		3.3		379.6		407.4		(6.8	)
Colonial Life	378.7		354.1		6.9		1,129.3		1,056.7		6.9
Closed Block	282.5		293.0		(3.6	)	850.8		878.7		(3.2	)
	2,153.6		2,089.4		3.1		6,438.7		6,258.5		2.9
Net Investment Income
Unum US	201.0		207.3		(3.0	)	609.1		622.4		(2.1	)
Unum UK	28.5		28.5		—		88.3		89.3		(1.1	)
Colonial Life	36.0		36.1		(0.3	)	107.8		105.7		2.0
Closed Block	337.2		334.1		0.9		1,012.5		1,008.6		0.4
Corporate	6.3		5.4		16.7		14.2		15.1		(6.0	)
	609.0		611.4		(0.4	)	1,831.9		1,841.1		(0.5	)
Other Income
Unum US	26.5		28.7		(7.7	)	85.3		85.6		(0.4	)
Unum UK	0.6		—		—		0.6		0.2		200.0
Colonial Life	0.3		0.4		(25.0	)	0.8		1.0		(20.0	)
Closed Block	18.9		21.5		(12.1	)	59.9		65.3		(8.3	)
Corporate	0.4		0.9		(55.6	)	1.5		2.5		(40.0	)
	46.7		51.5		(9.3	)	148.1		154.6		(4.2	)
Total Operating Revenue
Unum US	1,588.4		1,551.0		2.4		4,773.4		4,623.7		3.2
Unum UK	160.6		155.8		3.1		468.5		496.9		(5.7	)
Colonial Life	415.0		390.6		6.2		1,237.9		1,163.4		6.4
Closed Block	638.6		648.6		(1.5	)	1,923.2		1,952.6		(1.5	)
Corporate	6.7		6.3		6.3		15.7		17.6		(10.8	)
	$	2,809.3	$	2,752.3	2.1		$	8,418.7	$	8,254.2	2.0

7

Unum Group Financial Results by Segment - Continued

	Three Months Ended								Nine Months Ended
	9/30/2017			9/30/2016			% Change		9/30/2017			9/30/2016			% Change
Benefits and Expenses
Unum US	$	1,330.0		$	1,320.0		0.8	%	$	4,028.1		$	3,949.6		2.0	%
Unum UK	134.1			127.6			5.1		386.5			398.2			(2.9	)
Colonial Life	333.3			311.6			7.0		992.0			929.1			6.8
Closed Block	612.0			620.0			(1.3	)	1,832.4			1,857.7			(1.4	)
Corporate	42.9			52.0			(17.5	)	149.9			138.9			7.9
	2,452.3			2,431.2			0.9		7,388.9			7,273.5			1.6
Income (Loss) Before Income Tax, Net Realized Investment Gain (Loss), and Loss from Guaranty Fund Assessment
Unum US	258.4			231.0			11.9		745.3			674.1			10.6
Unum UK	26.5			28.2			(6.0	)	82.0			98.7			(16.9	)
Colonial Life	81.7			79.0			3.4		245.9			234.3			5.0
Closed Block	26.6			28.6			(7.0	)	90.8			94.9			(4.3	)
Corporate	(36.2		)	(45.7		)	(20.8	)	(113.6		)	(121.3		)	(6.3	)
	357.0			321.1			11.2		1,050.4			980.7			7.1
Income Tax Expense	110.9			92.4			20.0		327.8			294.8			11.2
Income Before Net Realized Investment Gain (Loss) and Loss from Guaranty Fund Assessment, Net of Tax	246.1			228.7			7.6		722.6			685.9			5.4
Net Realized Investment Gain (Loss) (net of tax expense (benefit) of $3.6; $3.7; $10.8; $(1.7))	6.2			7.3			15.1		18.1			(2.5		)	N.M.
Loss from Guaranty Fund Assessment (net of tax benefit of $-; $-; $7.2; $-)	—			—			—		(13.4		)	—			N.M.
Net Income	$	252.3		$	236.0		6.9		$	727.3		$	683.4		6.4

7. 1

Unum Group Quarterly Historical Financial Results by Segment

	9/30/17		6/30/17		3/31/17		12/31/16		9/30/16		6/30/16		3/31/16		12/31/15		9/30/15
Premium Income
Unum US	$	1,360.9	$	1,357.7	$	1,360.4	$	1,325.2	$	1,315.0	$	1,299.4	$	1,301.3	$	1,251.6	$	1,241.8
Unum UK	131.5		126.8		121.3		121.9		127.3		140.8		139.3		150.4		144.6
Colonial Life	378.7		376.3		374.3		360.4		354.1		351.4		351.2		337.4		333.1
Closed Block	282.5		281.4		286.9		291.7		293.0		290.0		295.7		298.4		301.3
	2,153.6		2,142.2		2,142.9		2,099.2		2,089.4		2,081.6		2,087.5		2,037.8		2,020.8
Net Investment Income
Unum US	201.0		205.6		202.5		206.3		207.3		207.7		207.4		220.3		214.3
Unum UK	28.5		33.2		26.6		28.8		28.5		34.0		26.8		34.8		28.0
Colonial Life	36.0		36.7		35.1		35.8		36.1		35.6		34.0		35.6		35.9
Closed Block	337.2		340.0		335.3		343.6		334.1		341.1		333.4		340.4		327.5
Corporate	6.3		5.0		2.9		3.4		5.4		4.9		4.8		5.3		6.4
	609.0		620.5		602.4		617.9		611.4		623.3		606.4		636.4		612.1
Other Income
Unum US	26.5		30.1		28.7		27.7		28.7		27.9		29.0		28.8		28.1
Unum UK	0.6		—		—		—		—		0.2		—		—		—
Colonial Life	0.3		0.2		0.3		0.2		0.4		0.3		0.3		—		0.1
Closed Block	18.9		20.2		20.8		20.7		21.5		21.4		22.4		21.8		21.5
Corporate	0.4		0.7		0.4		2.4		0.9		1.3		0.3		0.3		1.8
	46.7		51.2		50.2		51.0		51.5		51.1		52.0		50.9		51.5
Total Operating Revenue
Unum US	1,588.4		1,593.4		1,591.6		1,559.2		1,551.0		1,535.0		1,537.7		1,500.7		1,484.2
Unum UK	160.6		160.0		147.9		150.7		155.8		175.0		166.1		185.2		172.6
Colonial Life	415.0		413.2		409.7		396.4		390.6		387.3		385.5		373.0		369.1
Closed Block	638.6		641.6		643.0		656.0		648.6		652.5		651.5		660.6		650.3
Corporate	6.7		5.7		3.3		5.8		6.3		6.2		5.1		5.6		8.2
	$	2,809.3	$	2,813.9	$	2,795.5	$	2,768.1	$	2,752.3	$	2,756.0	$	2,745.9	$	2,725.1	$	2,684.4

8

Unum Group Quarterly Historical Financial Results by Segment - Continued

	9/30/17			6/30/17			3/31/17			12/31/16			9/30/16			6/30/16			3/31/16			12/31/15			9/30/15
Benefits and Expenses
Unum US	1,330.0			1,345.6			1,352.5			1,319.1			1,320.0			1,307.8			1,321.8			1,286.5			1,265.5
Unum UK	134.1			131.1			121.3			120.8			127.6			138.1			132.5			148.2			139.9
Colonial Life	333.3			331.4			327.3			316.5			311.6			309.4			308.1			295.4			292.8
Closed Block	612.0			609.0			611.4			621.4			620.0			619.9			617.8			632.5			622.6
Corporate	42.9			43.3			63.7			47.5			52.0			45.9			41.0			43.2			38.1
	2,452.3			2,460.4			2,476.2			2,425.3			2,431.2			2,421.1			2,421.2			2,405.8			2,358.9
Income (Loss) Before Income Tax, Net Realized Investment Gain (Loss), and Loss from Guaranty Fund Assessment
Unum US	258.4			247.8			239.1			240.1			231.0			227.2			215.9			214.2			218.7
Unum UK	26.5			28.9			26.6			29.9			28.2			36.9			33.6			37.0			32.7
Colonial Life	81.7			81.8			82.4			79.9			79.0			77.9			77.4			77.6			76.3
Closed Block	26.6			32.6			31.6			34.6			28.6			32.6			33.7			28.1			27.7
Corporate	(36.2		)	(37.6		)	(39.8		)	(41.7		)	(45.7		)	(39.7		)	(35.9		)	(37.6		)	(29.9		)
	357.0			353.5			339.9			342.8			321.1			334.9			324.7			319.3			325.5
Income Tax Expense	110.9			113.1			103.8			113.1			92.4			101.9			100.5			90.7			104.4
Income Before Net Realized Investment Gain (Loss) and Loss from Guaranty Fund Assessment, Net of Tax	246.1			240.4			236.1			229.7			228.7			233.0			224.2			228.6			221.1
Net Realized Investment Gain (Loss)	9.8			8.1			11.0			28.4			11.0			5.3			(20.5		)	(2.7		)	(26.6		)
Tax Expense (Benefit) on Net Realized Investment Gain (Loss)	3.6			3.4			3.8			10.1			3.7			1.5			(6.9		)	(0.2		)	(9.3		)
Loss from Guaranty Fund Assessment	—			—			(20.6		)	—			—			—			—			—			—
Tax Benefit on Loss from Guaranty Fund Assessment	—			—			(7.2		)	—			—			—			—			—			—
Net Income	$	252.3		$	245.1		$	229.9		$	248.0		$	236.0		$	236.8		$	210.6		$	226.1		$	203.8
Net Income Per Common Share - Assuming Dilution	$	1.12		$	1.07		$	1.00		$	1.07		$	1.01		$	1.00		$	0.88		$	0.93		$	0.83

8. 1

Unum Group Financial Results for Unum US Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income	$	1,360.9		$	1,315.0		$	4,079.0		$	3,915.7		$	5,240.9		$	4,960.0
Net Investment Income	201.0			207.3			609.1			622.4			828.7			865.3
Other Income	26.5			28.7			85.3			85.6			113.3			119.2
Total	1,588.4			1,551.0			4,773.4			4,623.7			6,182.9			5,944.5
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	920.7			912.1			2,759.8			2,712.7			3,624.3			3,476.7
Commissions	144.1			145.4			442.0			439.8			580.4			562.2
Deferral of Acquisition Costs	(78.2		)	(76.2		)	(244.0		)	(239.8		)	(314.1		)	(307.3		)
Amortization of Deferred Acquisition Costs	65.2			64.3			228.3			214.0			275.2			272.3
Other Expenses	278.2			274.4			842.0			822.9			1,102.9			1,090.6
Total	1,330.0			1,320.0			4,028.1			3,949.6			5,268.7			5,094.5
Operating Income	$	258.4		$	231.0		$	745.3		$	674.1		$	914.2		$	850.0
Operating Ratios (% of Premium Income):
Benefit Ratio	67.7		%	69.4		%	67.7		%	69.3		%	69.2		%	70.1		%
Other Expense Ratio	20.4		%	20.9		%	20.6		%	21.0		%	21.0		%	22.0		%
Operating Income Ratio	19.0		%	17.6		%	18.3		%	17.2		%	17.4		%	17.1		%

9

Unum Group Financial Results for Unum US Group Disability

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Group Long-term Disability	$	435.2		$	428.1		$	1,307.3		$	1,291.6		$	1,726.6		$	1,644.7
Group Short-term Disability	161.1			155.5			477.3			469.2			626.1			607.4
Total Premium Income	596.3			583.6			1,784.6			1,760.8			2,352.7			2,252.1
Net Investment Income	113.7			120.1			347.3			360.7			479.5			496.5
Other Income	23.8			22.8			73.4			68.2			91.1			92.9
Total	733.8			726.5			2,205.3			2,189.7			2,923.3			2,841.5
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	457.1			458.5			1,366.8			1,404.0			1,863.8			1,834.0
Commissions	45.8			44.2			137.1			134.3			178.2			172.2
Deferral of Acquisition Costs	(12.4		)	(11.6		)	(35.8		)	(35.3		)	(46.4		)	(43.2		)
Amortization of Deferred Acquisition Costs	10.0			9.0			29.9			27.0			35.9			33.7
Other Expenses	143.3			141.0			436.2			429.5			572.1			572.4
Total	643.8			641.1			1,934.2			1,959.5			2,603.6			2,569.1
Operating Income	$	90.0		$	85.4		$	271.1		$	230.2		$	319.7		$	272.4
Operating Ratios (% of Premium Income):
Benefit Ratio	76.7		%	78.6		%	76.6		%	79.7		%	79.2		%	81.4		%
Other Expense Ratio	24.0		%	24.2		%	24.4		%	24.4		%	24.3		%	25.4		%
Operating Income Ratio	15.1		%	14.6		%	15.2		%	13.1		%	13.6		%	12.1		%
Persistency:
Group Long-term Disability							89.5		%	90.5		%	91.0		%	92.1		%
Group Short-term Disability							86.3		%	87.4		%	87.7		%	88.1		%

9. 1

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

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Group Life	$	370.0		$	353.4		$	1,101.7		$	1,053.6		$	1,410.0		$	1,347.4
Accidental Death & Dismemberment	37.2			35.3			110.5			104.8			140.3			131.7
Total Premium Income	407.2			388.7			1,212.2			1,158.4			1,550.3			1,479.1
Net Investment Income	27.3			28.1			82.7			85.5			113.4			135.1
Other Income	1.4			1.1			3.6			3.3			4.5			2.1
Total	435.9			417.9			1,298.5			1,247.2			1,668.2			1,616.3
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	290.6			282.2			864.1			832.5			1,112.6			1,061.6
Commissions	33.3			31.5			98.0			94.8			126.8			121.2
Deferral of Acquisition Costs	(9.5		)	(8.9		)	(27.6		)	(27.4		)	(35.7		)	(33.3		)
Amortization of Deferred Acquisition Costs	7.9			7.3			23.9			22.0			29.2			26.2
Other Expenses	53.5			52.4			163.1			159.6			213.5			215.7
Total	375.8			364.5			1,121.5			1,081.5			1,446.4			1,391.4
Operating Income	$	60.1		$	53.4		$	177.0		$	165.7		$	221.8		$	224.9
Operating Ratios (% of Premium Income):
Benefit Ratio	71.4		%	72.6		%	71.3		%	71.9		%	71.8		%	71.8		%
Other Expense Ratio	13.1		%	13.5		%	13.5		%	13.8		%	13.8		%	14.6		%
Operating Income Ratio	14.8		%	13.7		%	14.6		%	14.3		%	14.3		%	15.2		%
Persistency:
Group Life							87.7		%	90.3		%	90.7		%	89.2		%
Accidental Death & Dismemberment							86.8		%	90.4		%	90.3		%	89.8		%

9. 2

Unum Group Financial Results for Unum US Supplemental and Voluntary

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Individual Disability	$	104.4		$	125.6		$	318.1		$	374.4		$	480.3		$	478.9
Voluntary Benefits	210.8			197.1			639.2			602.1			796.5			749.9
Dental and Vision	42.2			20.0			124.9			20.0			61.1			—
Total Premium Income	357.4			342.7			1,082.2			996.5			1,337.9			1,228.8
Net Investment Income	60.0			59.1			179.1			176.2			235.8			233.7
Other Income	1.3			4.8			8.3			14.1			17.7			24.2
Total	418.7			406.6			1,269.6			1,186.8			1,591.4			1,486.7
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	173.0			171.4			528.9			476.2			647.9			581.1
Commissions	65.0			69.7			206.9			210.7			275.4			268.8
Deferral of Acquisition Costs	(56.3		)	(55.7		)	(180.6		)	(177.1		)	(232.0		)	(230.8		)
Amortization of Deferred Acquisition Costs	47.3			48.0			174.5			165.0			210.1			212.4
Other Expenses	81.4			81.0			242.7			233.8			317.3			302.5
Total	310.4			314.4			972.4			908.6			1,218.7			1,134.0
Operating Income	$	108.3		$	92.2		$	297.2		$	278.2		$	372.7		$	352.7
Operating Ratios (% of Premium Income):
Benefit Ratios:
Individual Disability	48.3		%	52.6		%	51.4		%	52.5		%	52.9		%	51.8		%
Voluntary Benefits	44.1		%	46.5		%	43.2		%	44.2		%	44.3		%	44.4		%
Dental and Vision	70.1		%	68.0		%	71.3		%	68.0		%	66.6		%	—		%
Other Expense Ratio	22.8		%	23.6		%	22.4		%	23.5		%	23.7		%	24.6		%
Operating Income Ratio	30.3		%	26.9		%	27.5		%	27.9		%	27.9		%	28.7		%
Persistency:
Individual Disability							91.1		%	91.2		%	91.1		%	90.3		%
Voluntary Benefits							76.8		%	76.8		%	76.9		%	75.9		%
Dental and Vision							84.2		%	84.5		%	84.6		%	—		%

9. 3

Unum Group Financial Results for Unum UK Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Group Long-term Disability	$	87.0		$	85.5		$	251.6		$	274.1		$	355.2		$	397.4
Group Life	26.7			24.9			76.9			80.9			105.7			121.5
Supplemental	17.8			16.9			51.1			52.4			68.4			57.3
Total Premium Income	131.5			127.3			379.6			407.4			529.3			576.2
Net Investment Income	28.5			28.5			88.3			89.3			118.1			124.9
Other Income	0.6			—			0.6			0.2			0.2			—
Total	160.6			155.8			468.5			496.9			647.6			701.1
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	98.4			91.3			280.9			284.8			367.4			394.8
Commissions	9.2			9.2			27.0			27.9			38.9			41.8
Deferral of Acquisition Costs	(1.6		)	(2.1		)	(5.4		)	(6.1		)	(8.2		)	(9.6		)
Amortization of Deferred Acquisition Costs	2.3			2.3			6.8			7.4			9.7			11.3
Other Expenses	25.8			26.9			77.2			84.2			111.2			122.2
Total	134.1			127.6			386.5			398.2			519.0			560.5
Operating Income	$	26.5		$	28.2		$	82.0		$	98.7		$	128.6		$	140.6

10

Unum Group Financial Results for Unum UK Segment - Continued

	Three Months Ended						Nine Months Ended						Year Ended
(in millions of pounds, except exchange rate)	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Group Long-term Disability	£	66.4		£	65.1		£	197.1		£	196.7		£	262.0		£	259.9
Group Life	20.3			19.0			60.2			58.0			78.0			79.5
Supplemental	13.7			12.8			40.1			37.6			50.5			37.5
Total Premium Income	100.4			96.9			297.4			292.3			390.5			376.9
Net Investment Income	21.8			21.7			69.2			64.1			87.3			81.6
Other Income	0.5			—			0.5			0.1			0.1			—
Total	122.7			118.6			367.1			356.5			477.9			458.5
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	75.2			69.6			220.0			204.5			270.9			258.1
Commissions	6.9			7.0			21.1			20.0			28.9			27.4
Deferral of Acquisition Costs	(1.2		)	(1.6		)	(4.2		)	(4.4		)	(6.1		)	(6.3		)
Amortization of Deferred Acquisition Costs	1.8			1.7			5.3			5.3			7.2			7.4
Other Expenses	19.8			20.4			60.7			60.4			82.2			79.9
Total	102.5			97.1			302.9			285.8			383.1			366.5
Operating Income	£	20.2		£	21.5		£	64.2		£	70.7		£	94.8		£	92.0
Weighted Average Pound/Dollar Exchange Rate	1.312			1.312			1.277			1.396			1.357			1.528
Operating Ratios (% of Premium Income):
Benefit Ratio	74.9		%	71.8		%	74.0		%	70.0		%	69.4		%	68.5		%
Other Expense Ratio	19.7		%	21.1		%	20.4		%	20.7		%	21.0		%	21.2		%
Operating Income Ratio	20.1		%	22.2		%	21.6		%	24.2		%	24.3		%	24.4		%
Persistency:
Group Long-term Disability							87.1		%	88.7		%	89.5		%	89.2		%
Group Life							83.5		%	80.1		%	81.3		%	80.0		%
Supplemental							89.5		%	90.5		%	89.9		%	87.7		%

10. 1

Unum Group Financial Results for Colonial Life Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Accident, Sickness, and Disability	$	222.3		$	207.7		$	661.5		$	619.2		$	830.0		$	789.0
Life	74.6			68.0			223.8			203.4			273.8			252.4
Cancer and Critical Illness	81.8			78.4			244.0			234.1			313.3			297.2
Total Premium Income	378.7			354.1			1,129.3			1,056.7			1,417.1			1,338.6
Net Investment Income	36.0			36.1			107.8			105.7			141.5			145.4
Other Income	0.3			0.4			0.8			1.0			1.2			0.1
Total	415.0			390.6			1,237.9			1,163.4			1,559.8			1,484.1
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	196.1			182.6			579.2			541.2			726.4			683.0
Commissions	86.4			78.7			256.8			233.3			313.6			293.5
Deferral of Acquisition Costs	(75.0		)	(69.5		)	(220.7		)	(201.1		)	(270.1		)	(252.8		)
Amortization of Deferred Acquisition Costs	56.2			52.2			168.4			155.8			208.1			198.7
Other Expenses	69.6			67.6			208.3			199.9			267.6			252.6
Total	333.3			311.6			992.0			929.1			1,245.6			1,175.0
Operating Income	$	81.7		$	79.0		$	245.9		$	234.3		$	314.2		$	309.1
Operating Ratios (% of Premium Income):
Benefit Ratio	51.8		%	51.6		%	51.3		%	51.2		%	51.3		%	51.0		%
Other Expense Ratio	18.4		%	19.1		%	18.4		%	18.9		%	18.9		%	18.9		%
Operating Income Ratio	21.6		%	22.3		%	21.8		%	22.2		%	22.2		%	23.1		%
Persistency:
Accident, Sickness, and Disability							75.4		%	75.2		%	75.6		%	74.8		%
Life							84.5		%	84.8		%	85.0		%	84.9		%
Cancer and Critical Illness							82.6		%	82.6		%	82.9		%	81.2		%

11

Unum Group Financial Results for Closed Block Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Premium Income
Individual Disability	$	117.9		$	129.9		$	357.7		$	394.0		$	521.9		$	572.4
Long-term Care	162.4			161.4			486.4			482.0			643.9			633.5
All Other	2.2			1.7			6.7			2.7			4.6			1.7
Total Premium Income	282.5			293.0			850.8			878.7			1,170.4			1,207.6
Net Investment Income	337.2			334.1			1,012.5			1,008.6			1,352.2			1,320.0
Other Income	18.9			21.5			59.9			65.3			86.0			89.3
Total	638.6			648.6			1,923.2			1,952.6			2,608.6			2,616.9
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits	550.4			556.6			1,646.7			1,667.2			2,223.7			2,228.3
Commissions	22.7			23.5			68.1			70.7			93.8			98.8
Interest and Debt Expense	1.7			1.7			5.1			5.1			6.9			6.6
Other Expenses	37.2			38.2			112.5			114.7			154.7			164.1
Total	612.0			620.0			1,832.4			1,857.7			2,479.1			2,497.8
Operating Income	$	26.6		$	28.6		$	90.8		$	94.9		$	129.5		$	119.1
Interest Adjusted Loss Ratios:
Individual Disability	82.4		%	81.5		%	82.8		%	83.3		%	83.6		%	82.8		%
Long-term Care	93.3		%	93.8		%	90.5		%	91.8		%	91.1		%	87.6		%
Operating Ratios (% of Premium Income):
Other Expense Ratio	13.2		%	13.0		%	13.2		%	13.1		%	13.2		%	13.6		%
Operating Income Ratio	9.4		%	9.8		%	10.7		%	10.8		%	11.1		%	9.9		%
Persistency:
Individual Disability							89.8		%	90.7		%	90.9		%	90.9		%
Long-term Care							95.5		%	94.8		%	94.8		%	95.7		%

12

Unum Group Financial Results for Corporate Segment

	Three Months Ended						Nine Months Ended						Year Ended
	9/30/2017			9/30/2016			9/30/2017			9/30/2016			12/31/2016			12/31/2015
Operating Revenue
Net Investment Income	$	6.3		$	5.4		$	14.2		$	15.1		$	18.5		$	25.6
Other Income	0.4			0.9			1.5			2.5			4.9			2.9
Total	6.7			6.3			15.7			17.6			23.4			28.5
Interest and Other Expenses*	42.9			52.0			149.9			138.9			186.4			165.2
Operating Loss Including Loss from Guaranty Fund Assessment	(36.2		)	(45.7		)	(134.2		)	(121.3		)	(163.0		)	(136.7		)
Loss from Guaranty Fund Assessment	—			—			20.6			—			—			—
Operating Loss	$	(36.2	)	$	(45.7	)	$	(113.6	)	$	(121.3	)	$	(163.0	)	$	(136.7	)

* We previously excluded the amortization of prior period actuarial gains or losses, a component of the net periodic benefit cost for our pension and other postretirement benefit plans, from the results of our Corporate segment. Effective January 1, 2017, the amortization of prior period actuarial gains or losses is now reported in our Corporate segment as a component of "interest and other expenses" in the above chart. Amounts for periods prior to January, 1, 2017 have been adjusted to conform to current year reporting.

13

Unum Group Reserves

	September 30, 2017
	Gross												Total
	Policy				Claim Reserves								Reinsurance		Total
	Reserves		%		Incurred		IBNR		%		Total		Ceded		Net
Group Disability	$	—	—	%	$	6,063.2	$	625.2	28.8	%	$	6,688.4	$	73.6	$	6,614.8
Group Life and Accidental Death & Dismemberment	63.3		0.3		708.3		197.4		3.9		969.0		5.4		963.6
Individual Disability	536.0		2.9		1,325.5		137.2		6.3		1,998.7		203.3		1,795.4
Voluntary Benefits	1,545.4		8.2		45.2		55.1		0.4		1,645.7		27.4		1,618.3
Dental and Vision	—		—		1.6		9.3		0.1		10.9		0.2		10.7
Unum US Segment	2,144.7		11.4		8,143.8		1,024.2		39.5		11,312.7		309.9		11,002.8
Unum UK Segment	18.4		0.1		1,900.6		103.5		8.6		2,022.5		86.0		1,936.5
Colonial Life Segment	1,955.7		10.4		284.6		128.1		1.9		2,368.4		8.9		2,359.5
Individual Disability	439.9		2.4		9,480.9		226.3		41.8		10,147.1		1,614.8		8,532.3
Long-term Care	8,288.2		44.2		1,457.4		146.8		6.9		9,892.4		40.6		9,851.8
Other	5,895.1		31.5		185.8		114.5		1.3		6,195.4		5,073.9		1,121.5
Closed Block Segment	14,623.2		78.1		11,124.1		487.6		50.0		26,234.9		6,729.3		19,505.6
Subtotal	$	18,742.0	100.0	%	$	21,453.1	$	1,743.4	100.0	%	41,938.5		7,134.1		34,804.4
Adjustment Related to Unrealized Investment Gains and Losses											5,057.4		371.6		4,685.8
Consolidated											$	46,995.9	$	7,505.7	$	39,490.2

The adjustment related to unrealized investment gains and losses reflects the changes that would be necessary to policyholder liabilities if the unrealized investment gains and losses related to the corresponding available-for-sale securities had been realized. Changes in this adjustment are primarily due to movements in the U.S. Treasury rates and credit spreads.

14

Unum Group Reserves

	December 31, 2016
	Gross												Total Reinsurance Ceded
	Policy Reserves				Claim Reserves										Total Net
			%		Incurred		IBNR		%		Total
Group Disability	$	—	—	%	$	6,201.0	$	608.6	29.3	%	$	6,809.6	$	74.3	$	6,735.3
Group Life and Accidental Death & Dismemberment	65.4		0.3		704.8		192.6		3.9		962.8		4.1		958.7
Individual Disability	544.6		3.0		1,298.5		130.6		6.1		1,973.7		201.0		1,772.7
Voluntary Benefits	1,492.7		8.2		45.5		50.6		0.4		1,588.8		27.7		1,561.1
Dental and Vision	—		—		3.9		8.1		0.1		12.0		0.2		11.8
Unum US Segment	2,102.7		11.5	%	8,253.7		990.5		39.8	%	11,346.9		307.3		11,039.6
Unum UK Segment	18.2		0.1		1,714.2		113.3		7.9		1,845.7		81.8		1,763.9
Colonial Life Segment	1,871.0		10.3		277.8		132.0		1.8		2,280.8		7.9		2,272.9
Individual Disability	513.6		2.8		9,696.4		251.6		42.8		10,461.6		1,601.2		8,860.4
Long-term Care	7,898.4		43.3		1,360.4		136.6		6.4		9,395.4		41.8		9,353.6
Other	5,848.3		32.0		189.8		132.1		1.3		6,170.2		5,030.6		1,139.6
Closed Block Segment	14,260.3		78.1		11,246.6		520.3		50.5		26,027.2		6,673.6		19,353.6
Subtotal	$	18,252.2	100.0	%	$	21,492.3	$	1,756.1	100.0	%	41,500.6		7,070.6		34,430.0
Adjustment Related to Unrealized Investment Gains and Losses											4,253.2		321.3		3,931.9
Consolidated											$	45,753.8	$	7,391.9	$	38,361.9

14. 1

Unum Group Investments

	9/30/2017						9/30/2017			12/31/2016
Fixed Maturity Securities (Fair Value)
Public	$	29,793.3		65.6	%	Selected Statistics
Asset-Backed Securities	83.9			0.2		Earned Book Yield	5.21		%	5.30		%
Residential Mortgage-Backed Securities (1)	1,831.3			4.0		Average Duration (in years)	7.63			7.59
Commercial Mortgage-Backed Securities	128.0			0.3
Private Placements	5,432.9			12.0
High Yield	3,375.3			7.4
Government Securities	2,457.1			5.4
Municipal Securities (2)	2,278.6			5.0
Redeemable Preferred Stocks	42.2			0.1
Total	$	45,422.6		100.0	%
	Amortized Cost			Fair Value
Quality Ratings of Fixed Maturity Securities						Schedule BA and Non-Current
Aaa	8.2		%	8.0	%	Total Non-Current Investments	$	41.8		$	41.9
Aa	7.8			8.2		Total Schedule BA Assets	$	543.4		$	510.3
A	27.6			28.7
Baa	48.2			47.6
Below Baa	8.2			7.5
Total	100.0		%	100.0	%
(1) Includes $11.1 million of high yield mortgage-backed securities.
(2) Includes $1.5 million of high yield taxable municipal securities.

15

Unum Group Investments at September 30, 2017

Fixed Maturity Securities - By Industry Classification - Unrealized Gain
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	$	2,718.0	$	284.9	$	190.9	$	3.8	$	2,527.1	$	288.7
Capital Goods	4,231.4		512.8		197.1		5.0		4,034.3		517.8
Communications	3,157.9		431.0		191.7		21.3		2,966.2		452.3
Consumer Cyclical	1,414.4		146.3		53.3		1.1		1,361.1		147.4
Consumer Non-Cyclical	6,814.3		769.3		457.9		26.6		6,356.4		795.9
Energy	5,020.4		608.5		332.9		28.5		4,687.5		637.0
Financial Institutions	3,424.3		328.6		126.2		2.0		3,298.1		330.6
Mortgage/Asset-Backed	2,043.2		117.5		368.6		3.6		1,674.6		121.1
Sovereigns	955.9		187.0		12.4		1.1		943.5		188.1
Technology	1,706.0		126.6		59.3		1.0		1,646.7		127.6
Transportation	1,949.1		266.8		116.1		1.6		1,833.0		268.4
U.S. Government Agencies and Municipalities	3,779.8		549.9		286.2		5.5		3,493.6		555.4
Public Utilities	8,207.9		1,258.5		244.8		9.5		7,963.1		1,268.0
Total	$	45,422.6	$	5,587.7	$	2,637.4	$	110.6	$	42,785.2	$	5,698.3
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	$	1,017.9	$	12.4			$	83.2	$	0.7
91 through 180 days	58.8		2.1				22.7		0.3
181 through 270 days	50.7		1.8				50.0		1.2
271 days to 1 year	693.4		24.5				—		—
Greater than 1 year	241.9		11.9				418.8		55.7
Total	$	2,062.7	$	52.7			$	574.7	$	57.9

15. 1

Appendix to Statistical Supplement

2017 Significant Item

• First quarter of 2017 loss from a guaranty fund assessment of $20.6 million before tax and $13.4 million after tax.

2016 Significant Item

• In August 2016, we acquired 100 percent of the shares and voting interests in H&J Capital, L.L.C., parent of Starmount Life Insurance Company and AlwaysCare Benefits (which collectively we refer to as Starmount) for a total cash purchase price of $140.3 million, plus contingent cash consideration of $10.0 million. Starmount Life Insurance Company is an independent provider of dental and vision insurance in the U.S. workplace, and AlwaysCare Benefits is a nationally licensed, third-party administrator. Starmount's dental and vision products and new dental and vision products to be marketed by Unum US are reported in our Unum US segment within our supplemental and voluntary product lines. Colonial Life dental and vision products are expected to be introduced in 2018. This acquisition, the results of which are included in our consolidated financial statements for the period subsequent to the date of acquisition, did not have a material impact on revenue, operating results, or sales during 2016.

2015 Significant Item

• In September 2015, we acquired 100 percent of the common shares and voting interests in National Dental Plan Limited and associated companies (National Dental) for a total cash purchase price of £35.9 million or $54.3 million. National Dental, a provider of dental insurance in the U.K. workplace, is reported in our Unum UK segment as part of our supplemental product line. This acquisition, the results of which are included in our consolidated financial statements for the period subsequent to the date of acquisition, did not have a material impact on revenue or results of operations during 2015.

16

Appendix to Statistical Supplement - Continued

Non-GAAP Financial Measures

We analyze our performance using non-GAAP financial measures which exclude or include amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. We believe the following non-GAAP financial measures are better performance measures and better indicators of the revenue and profitability and underlying trends in our business:

• Consolidated operating revenue, which excludes realized investment gains or losses;

• After-tax operating income or loss, which excludes realized investment gains or losses and certain other items, as applicable;

• Operating return on equity, which is calculated using after-tax operating income or loss and excludes from equity the unrealized gain or loss on securities and net gain on cash flow hedges;

• Leverage ratio, which excludes the unrealized gain or loss on securities and net gain on cash flow hedges, and the non-recourse debt and associated capital of Northwind Holdings, LLC;

• Book value per common share, which is calculated excluding accumulated other comprehensive income (AOCI); and

• Premium income from our core operating segments and individual disability product, adjusted for the premium income ceded in the individual disability reinsurance agreement entered into in the fourth quarter of 2016.

Realized investment gains or losses and unrealized gains or losses on securities and net gains on cash flow hedges depend on market conditions and do not necessarily relate to decisions regarding the underlying business of our Company. Leverage ratio and book value per common share excluding certain components of AOCI, certain of which tend to fluctuate depending on market conditions and general economic trends, are important measures. We also exclude certain other items from our discussion of financial ratios and metrics in order to enhance the understanding and comparability of our operational performance and the underlying fundamentals, but this exclusion is not an indication that similar items may not recur and does not replace the comparable GAAP measures in the determination of overall profitability.

Information reconciling the Company’s outlook on after-tax operating income growth per share to the comparable GAAP financial measure is not provided. The only amounts excluded from after-tax operating income are those described in this Appendix to Statistical Supplement. The Company is unable to predict with reasonable certainty realized investment gains and losses, which are affected by overall market conditions and also by factors such as an economic or political change in the country of the issuer, a regulatory change pertaining to the issuer’s industry, a significant improvement or deterioration in the cash flows of the issuer, unforeseen accounting irregularities or fraud committed by an issuer, movement in credit spreads, ratings upgrades or downgrades, a change in the issuer’s marketplace or business prospects, or any other event that significantly affects the issuers of the fixed maturity securities which the Company holds in its investment portfolio. For a reconciliation of the most directly comparable GAAP measures to these non-GAAP financial measures, refer to the "Reconciliation of Non-GAAP Financial Measures" beginning on page 16.2, other than book value per common share, which is presented on page 2.

16. 1

Reconciliation of Non-GAAP Financial Measures

	Three Months Ended
	September 30		June 30		March 31		December 31		September 30		June 30		March 31			December 31			September 30
	2017						2016									2015
Total Revenue	$	2,819.1	$	2,822.0	$	2,806.5	$	2,796.5	$	2,763.3	$	2,761.3	$	2,725.4		$	2,722.4		$	2,657.8
Excluding:
Net Realized Investment Gain (Loss)	9.8		8.1		11.0		28.4		11.0		5.3		(20.5		)	(2.7		)	(26.6		)
Operating Revenue	$	2,809.3	$	2,813.9	$	2,795.5	$	2,768.1	$	2,752.3	$	2,756.0	$	2,745.9		$	2,725.1		$	2,684.4

							Annualized
	After-Tax			Average			Operating
	Operating			Allocated			Return
	Income (Loss)			Equity(1)			On Equity
Three Months Ended September 30, 2017
Unum US	$	167.3		$	4,024.4		16.6	%
Unum UK	21.8			618.4			14.1	%
Colonial Life	53.2			1,247.8			17.1	%
Core Operating Segments	242.3			5,890.6			16.5	%
Closed Block	19.7			3,258.1
Corporate	(15.9		)	(621.5		)
Total	$	246.1		$	8,527.2		11.5	%
Three Months Ended September 30, 2016
Unum US	$	151.0		$	4,034.1		15.0	%
Unum UK	30.8			596.6			20.7	%
Colonial Life	51.4			1,192.1			17.3	%
Core Operating Segments	233.2			5,822.8			16.0	%
Closed Block	19.5			3,091.3
Corporate	(24.0		)	(726.5		)
Total	$	228.7		$	8,187.6		11.2	%

⁽¹⁾ Excludes net unrealized gain on securities and net gain on cash flow hedges and is calculated using the stockholders' equity balances presented on page 16.4.

16. 2

Reconciliation of Non-GAAP Financial Measures - Continued

							Annualized
	After-Tax			Average			Operating
	Operating			Allocated			Return
	Income (Loss)			Equity(1)			On Equity
Nine Months Ended September 30, 2017
Unum US	$	485.4		$	4,014.6		16.1	%
Unum UK	67.5			601.0			15.0	%
Colonial Life	160.3			1,241.7			17.2	%
Core Operating Segments	713.2			5,857.3			16.2	%
Closed Block	63.0			3,236.3
Corporate	(53.6		)	(693.4		)
Total	$	722.6		$	8,400.2		11.5	%
Nine Months Ended September 30, 2016
Unum US	$	440.7		$	4,012.5		14.6	%
Unum UK	91.6			624.9			19.5	%
Colonial Life	152.7			1,164.6			17.5	%
Core Operating Segments	685.0			5,802.0			15.7	%
Closed Block	63.9			3,028.0
Corporate	(63.0		)	(677.8		)
Total	$	685.9		$	8,152.2		11.2	%

⁽¹⁾ Excludes net unrealized gain on securities and net gain on cash flow hedges and is calculated using the stockholders' equity balances presented on page 16.4.

16. 3

Reconciliation of Non-GAAP Financial Measures - Continued

	After-Tax			Average			Operating
	Operating			Allocated			Return
	Income (Loss)			Equity(2)			On Equity
Year Ended December 31, 2016
Unum US	$	598.3		$	3,992.2		15.0	%
Unum UK	113.8			610.6			18.6	%
Colonial Life	204.9			1,173.9			17.4	%
Core Operating Segments	917.0			5,776.7			15.9	%
Closed Block	87.0			3,055.1
Corporate	(88.4		)	(691.0		)
Total	$	915.6		$	8,140.8		11.2	%
Year Ended December 31, 2015
Unum US	$	557.5		$	4,197.8		13.3	%
Unum UK	116.9			650.6			18.0	%
Colonial Life	201.1			1,209.4			16.6	%
Core Operating Segments	875.5			6,057.8			14.5	%
Closed Block	79.0			2,989.2
Corporate	(61.3		)	(1,085.9		)
Total	$	893.2		$	7,961.1		11.2	%

⁽²⁾ Excludes net unrealized gain on securities and net gain on cash flow hedges and is calculated using the stockholders' equity balances presented below.

Average allocated equity is computed as follows:

	9/30/2017		6/30/2017		12/31/2016		9/30/2016		6/30/2016		12/31/2015		12/31/2014
Total Stockholders' Equity, As Reported	$	9,448.6	$	9,316.6	$	8,968.0	$	9,361.2	$	9,157.0	$	8,663.9	$	8,521.9
Excluding:
Net Unrealized Gain on Securities	557.4		558.2		440.6		803.2		661.1		204.3		290.3
Net Gain on Cash Flow Hedges	290.7		304.5		327.5		335.2		343.6		378.0		391.0
Total Stockholders' Equity, as Adjusted	$	8,600.5	$	8,453.9	$	8,199.9	$	8,222.8	$	8,152.3	$	8,081.6	$	7,840.6
	Three Months Ended		Nine Months Ended		Twelve Months Ended		Three Months Ended		Nine Months Ended		Twelve Months Ended
	9/30/2017				12/31/2016		9/30/2016				12/31/2015
Average Stockholders' Equity Excluding Net Unrealized Gain on Securities and Net Gain on Cash Flow Hedges	$	8,527.2	$	8,400.2	$	8,140.8	$	8,187.6	$	8,152.2	$	7,961.1

16. 4

Reconciliation of Non-GAAP Financial Measures - Continued

	Three Months Ended September 30								Nine Months Ended September 30
	2017				2016				2017						2016
	(in millions)		per share *		(in millions)		per share *		(in millions)			per share *			(in millions)			per share *
Net Income	$	252.3	$	1.12	$	236.0	$	1.01	$	727.3		$	3.19		$	683.4		$	2.88
Excluding:
Net Realized Investment Gain (Loss) (net of tax expense (benefit) of $3.6; $3.7; $10.8; $(1.7))	6.2		0.03		7.3		0.03		18.1			0.08			(2.5		)	(0.02		)
Loss from Guaranty Fund Assessment (net of tax benefit of $-; $-; $7.2; $-)	—		—		—		—		(13.4		)	(0.06		)	—			—
After-tax Operating Income	$	246.1	$	1.09	$	228.7	$	0.98	$	722.6		$	3.17		$	685.9		$	2.90

	Year Ended December 31
	2016				2015
	(in millions)		per share *		(in millions)			per share *
Net Income	$	931.4	$	3.95	$	867.1		$	3.50
Excluding:
Net Realized Investment Gain (Loss) (net of tax expense (benefit) of $8.4; $(17.7))	15.8		0.07		(26.1		)	(0.11		)
After-tax Operating Income	$	915.6	$	3.88	$	893.2		$	3.61
* Assuming Dilution

	September 30						December 31
	2017			2016			2016			2015
Debt, As Reported	$	2,954.0		$	3,019.8		$	2,999.4		$	2,801.4
Excluding:
Non-recourse Debt	210.8			269.7			255.0			324.0
Debt, As Adjusted	$	2,743.2		$	2,750.1		$	2,744.4		$	2,477.4
Total Stockholders' Equity, As Reported	$	9,448.6		$	9,361.2		$	8,968.0		$	8,663.9
Excluding:
Net Unrealized Gain on Securities and Net Gain on Cash Flow Hedges	848.1			1,138.4			768.1			582.3
Northwind Capital	872.2			859.8			862.6			844.6
Equity, As Adjusted	7,728.3			7,363.0			7,337.3			7,237.0
Debt, As Adjusted	2,743.2			2,750.1			2,744.4			2,477.4
Total Capital, As Adjusted	$	10,471.5		$	10,113.1		$	10,081.7		$	9,714.4
Leverage Ratio	26.2		%	27.2		%	27.2		%	25.5		%

16. 5

Reconciliation of Non-GAAP Financial Measures - Continued

	Three months ended September 30
	2017		2016		% Change
Premium Income
Unum US	$	1,360.9	$	1,315.0	3.5	%
Unum UK	131.5		127.3		3.3
Colonial Life	378.7		354.1		6.9
Premium Income from Core Operating Segments, As Reported	1,871.1		1,796.4		4.2
Excluding:
Premium Income Ceded in Individual Disability Reinsurance Agreement	23.7		—		—
Premium Income from Core Operating Segments, As Adjusted	$	1,894.8	$	1,796.4	5.5	%

	Three months ended September 30
	2017		2016		% Change
Premium Income from Individual Disability, As Reported	$	104.4	$	125.6	(16.9	)%
Excluding:
Premium Income Ceded in Individual Disability Reinsurance Agreement	23.7		—		—
Premium Income from Individual Disability, As Adjusted	$	128.1	$	125.6	2.0	%

16. 6