Unum (UNM) UBS Financial Services Conference summary

2025 outlook and growth drivers

• Projected 2025 EPS growth of 8%-12% and premium growth of 4%-7%, with strong capital position expected at year-end.

• Momentum from strong Q4 sales in core group businesses and favorable macro environment, including employment and interest rates.

• Headwinds are seen as controllable, mainly execution-related, with no major external threats anticipated.

• Focus remains on maintaining leading market position and customer care.

Business line performance and sustainability

• Group disability and life insurance lines have shown strong recoveries and margins post-pandemic, with loss ratios in the 60s.

• Margins expected to remain strong, though some margin giveback is anticipated as loss ratios normalize.

• Competitive pricing discipline and long-standing leadership in disability support sustainability.

Sales, renewals, and technology investments

• Q4 sales strength attributed to competitive pricing, digital capabilities, and comprehensive service offerings.

• Ongoing investment in digital and administrative capabilities to enhance customer experience and ease of doing business.