Unum 2008 Annual Report Download - page 59
Download and view the complete annual report
Please find page 59 of the 2008 Unum annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49 -
50 -
51 -
52 -
53 -
54 -
55 -
56 -
57 -
58 -
59 -
60 -
61 -
62 -
63 -
64 -
65 -
66 -
67 -
68 -
69 -
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
 |
 |
55
Unum US Supplemental and Voluntary Operating Results
Shown below are financial results and key performance indicators for Unum US supplemental and voluntary product lines.
Year Ended December 31
(in millions of dollars, except ratios) 2007 % Change 2006
Premium Income
Individual Disability — Recently Issued $ 456.7 4.2% $ 438.5
Long-term Care 532.9 8.2 492.4
Voluntary Benefits 404.7 6.0 381.9
Total Premium Income 1,394.3 6.2 1,312.8
Net Investment Income 330.4 19.0 277.7
Other Income 33.1 26.3 26.2
1,757.8 8.7 1,616.7
Benefits and Change in Reserves for Future Benefits 1,067.4 8.7 982.3
Commissions 245.1 2.4 239.3
Deferral of Acquisition Costs (207.7) 1.8 (204.0)
Amortization of Deferred Acquisition Costs 171.5 13.7 150.8
Other Expenses 266.7 6.0 251.7
1,543.0 8.7 1,420.1
$ 214.8 9.3 $ 196.6
Operating Ratios (% of Premium Income):
Benefit Ratios
Individual Disability — Recently Issued 56.7% 58.0%
Long-term Care 106.0% 99.2%
Voluntary Benefits 60.1% 62.7%
Other Expense Ratio 19.1% 19.2%
Before-tax Operating Income Ratio 15.4% 15.0%
Interest-Adjusted Loss Ratios:
Individual Disability — Recently Issued 40.0% 42.8%
Long-term Care 77.7% 73.1%
Premium Persistency:
Individual Disability — Recently Issued 90.6% 90.5%
Long-term Care 95.4% 95.3%
Voluntary Benefits 79.4% 80.9%
Year Ended December 31, 2008 Compared with Year Ended December 31, 2007
The increase in premium income for 2008 relative to the prior year is due to sales growth in our supplemental and voluntary product
lines, the impact of premium rate increases implemented for individual long-term care, and overall stable persistency. Net investment income
increased relative to the prior year primarily from growth in the level of assets supporting these lines of business.
The decrease in the interest adjusted loss ratio for the individual disability — recently issued line of business for 2008 relative to the prior
year is due primarily to a decrease in paid incidence rates, partially offset by a lower claim recovery rate. The interest adjusted loss ratio