Unum Group Reports Q3 2026 Earnings with Net Loss Amid Reinsurance Impairments
Unum Group (UNM) reported third-quarter 2026 after-tax adjusted operating earnings of $2.20 per share, which included a $0.33 contribution from favorable reserve assumption reviews. However, the company posted a significant net loss of $419.7 million, primarily driven by an $853 million net investment loss stemming from asset impairments related to a reinsurance transaction with Fortitude Re. Despite the net loss, core operations premium growth reached 4.7% on a constant currency basis. The company faced headwinds in its Group Disability segment, where benefit ratios rose due to higher-than-expected long-term disability and paid family/medical leave claims. To mitigate long-term care (LTC) risks, Unum ceded $3.8 billion in statutory reserves to Fortitude Re, reducing total LTC exposure by 40% cumulatively.
Tickers: $UNM
Topics: earnings report guidance insurance claims net loss operating earnings