Unum Group (UUM) Q3 2026 Earnings Report
CH:UUM Q3 2026 EPS Results
- Actual EPS
- CHF 1.79
- Consensus EPS
- CHF 1.76
- Beat/Miss
- Beat by +CHF 0.03
- One Year Ago EPS
- CHF 1.70
CH:UUM Q3 2026 Revenue Results
- Actual Revenue
- CHF 2.01B
- Expected Revenue
- CHF 2.42B
- Beat/Miss
- Missed by -CHF 404.04M
- YoY Revenue Growth
- -26.76%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/03/2026
- Time
- After Close
- Conference Call
- Tuesday, November 3, 2026
Unum Group's next earnings date is estimated for February 2, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
Q3 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q3 2026 Earnings Call Summary
The call was mixed. The company reported solid premium growth, strong persistency, improving Colonial Life and supplemental results, substantial long-term care risk reduction, strong capital levels, and planned shareholder returns. However, these positives were offset by an earnings shortfall, materially higher US disability benefit ratios, elevated and uncertain long-term disability submissions, weaker UK results, and significant closed-block GAAP and ongoing accounting impacts.
Management said core operations premium is well positioned to meet its 4%-7% full year outlook, and expects full year 2026 after tax adjusted operating earnings per share of $8.30 to $8.50, including $0.33 from notable items. PFML pricing actions include double digit rate increases, while the corporate segment is expected to remain within a loss in the mid to upper $40 million range. Management remains confident in a long term benefit ratio of around 65% for group disability, expects fourth-quarter earnings levels and benefit ratios to be pretty consistent with the third quarter, and expects to finish 2026 with $1.5 billion to $2 billion of holding company cash, $1.5 billion to $2 billion of holding company liquidity, and risk based capital between 400%-425%; it remains on track to return approximately $1.3 billion to shareholders for the year.
- Core Premium Growth Remained SolidCore operations premium grew nearly 5% on a constant currency basis, with growth across Unum US, International, and Colonial Life. Steven Zabel reported core operations premium growth of 4.7%, and management said the company remains well positioned to meet its 4%-7% full-year outlook.
- Strong Customer Retention and PersistencyCustomer retention in US group businesses remained strong. US group persistency increased nearly 2 points year over year, helping drive Unum US premium growth of 5.2%.
- Year-to-Date Sales Growth Remained PositiveAlthough third-quarter overall sales declined year over year against a strong third quarter of 2025, sales were up 4% year to date. Unum US year-to-date sales grew 8.6%, supported by prior-period sales and healthy persistency.
- Colonial Life Delivered Broad-Based ImprovementColonial Life adjusted operating income was $169.4 million, including $42.5 million of notable items. Excluding notable items, earnings were higher year over year, the benefit ratio improved to 47% from 48.2%, primarily due to lower cancer claims, and quarterly sales increased 6.4%. Year-to-date sales grew 4.7% versus 2.8% a year ago, while premium grew 3.0%.
- Supplemental and Voluntary Businesses Performed WellUnum US supplemental and voluntary lines generated adjusted operating income of $142.3 million, including $17.4 million of notable items. Excluding those items, results were within the outlook range, with a 49% benefit ratio driven by favorable claims experience in individual disability and dental.
- Favorable Core Reserve Assumption ReviewThe annual reserve assumption review resulted in an overall net decrease in reserves of $28.7 million pretax across product lines, including the closed block, compared with a net increase of $478.5 million in the prior year. Core businesses received $83.7 million of pretax reserve releases.
- Meaningful Long-Term Care Risk ReductionUnum closed its second external long-term care reinsurance transaction with Fortitude Re, ceding $3.8 billion of statutory reserves at a 12% net cost relative to best-estimate reserves. Together with the prior transaction, the company has reduced its long-term care exposure and statutory reserves by over 40%.
- Continued Progress on the Retained Long-Term Care BlockClose to another 5% of group long-term care cases closed during the third quarter, and approximately 15% of group long-term care cases have closed since the company announced it would stop accepting new lives on group long-term care contracts. More than $100 million of rate increases were approved during the quarter, while significant protections remained in place at Fairwind.
- Capital Returns Remained on PlanUnum repurchased approximately $200 million of shares in the third quarter, bringing year-to-date repurchases to approximately $800 million. Including common stock dividends, capital returned to shareholders exceeded $1 billion year to date, and management remains on track to return approximately $1.3 billion for the year.
- Strong Capital Position and LiquidityHolding company liquidity was $1.4 billion and traditional risk-based capital was 485% at quarter end. Management continues to expect year-end holding company cash of $1.5 billion to $2 billion and risk-based capital of 400%-425%.
- Recovery Performance Remained FavorableManagement said underlying recovery trends in group disability continued to be favorable and historically strong. The reserve assumption review included a release on the long-term disability claim reserve because of confidence in the level of recovery rates.
- Pricing and Underwriting Actions Were Being ImplementedThe company said it was applying customer-by-customer pricing actions in US disability, implementing double digit rate increases in paid family and medical leave, and using new-business pricing, phased renewal pricing, disciplined underwriting, and expense actions in the UK.
- Strategic Initiatives and Investments Remained on TrackManagement said strategic initiatives remained on track and that investments in connectivity, leave solutions, technology, people, processes, and customer experience were helping employers address workforce challenges and strengthening customer relationships and competitive positioning.
- International Premium Growth Outside the UKUK premium grew 3.5% and Poland premium grew 10%. Management also said performance in other UK lines of business had been steadily rising.
- Long-Term Care Investment Portfolio Yield Exceeded ExpectationsThe alternative investment portfolio that primarily supports long-term care generated an annualized yield of 10.1%, above the company's long-term expectation of 8%-10%.
CH:UUM Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 02, 2027 | 2026 (Q4) | 1.66- | 1.56 | ― | ― |
| Nov 03, 2026 | 2026 (Q3) | 1.761.79 | 1.7 | 5.26% (+0.09) | |
| Jul 28, 2026 | 2026 (Q2) | 1.761.76 | 1.69 | 4.35% (+0.07) | |
| Apr 28, 2026 | 2026 (Q1) | 1.671.74 | 1.66 | 4.90% (+0.08) | |
| Feb 05, 2026 | 2025 (Q4) | 1.721.56 | 1.65 | -5.42% (-0.09) | |
| Sep 30, 2025 | 2025 (Q3) | 1.751.70 | 1.73 | -1.88% (-0.03) | |
| Jul 29, 2025 | 2025 (Q2) | 1.811.69 | 1.76 | -4.17% (-0.07) | |
| Apr 29, 2025 | 2025 (Q1) | 1.781.66 | 1.73 | -3.77% (-0.07) | |
| Feb 04, 2025 | 2024 (Q4) | 1.741.65 | 1.46 | 13.41% (+0.20) | |
| Oct 29, 2024 | 2024 (Q3) | 1.711.73 | 1.58 | 9.79% (+0.15) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
