Unum 2010 Annual Report Download - page 156

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Notes To Consolidated Financial Statements
154
Unum
2010
with respect to policyholders as of the preceding year end or the statutory net gain from operations, excluding realized investment gains
and losses, of the preceding year.
The payment of dividends to a parent company from its insurance subsidiaries is generally further limited to the amount of
unassigned statutory surplus. Based on the restrictions under current law, $622.3 million is available during 2011 for the payment of
ordinary dividends to Unum Group from its traditional U.S. insurance subsidiaries, which exclude Tailwind Re and Northwind Re. The ability
of Tailwind Re and Northwind Re to pay dividends to their respective parent companies, Tailwind Holdings and Northwind Holdings,
wholly-owned subsidiaries of Unum Group, will depend on their satisfaction of applicable regulatory requirements and on the
performance of the business reinsured by Tailwind Re and Northwind Re.
We also have the ability to receive dividends from our United Kingdom insurance subsidiary, Unum Limited, subject to applicable
insurance company regulations and capital guidance in the United Kingdom. Approximately £207.5 million is available for the payment of
dividends from Unum Limited during 2011, subject to regulatory approval.
Deposits
At December 31, 2010 and 2009, our U.S. insurance subsidiaries had on deposit with U.S. regulatory authorities securities with a book
value of $293.6 million and $292.1 million held for the protection of policyholders.
Note 15. Quarterly Results of Operations (Unaudited)
The following is a summary of our unaudited quarterly results of operations for 2010 and 2009:
2010
(in millions of dollars, except share data) 4th 3rd 2nd 1st
Premium Income $1,868.2 $1,850.2 $1,849.8 $1,863.2
Net Investment Income 634.3 618.4 629.8 613.0
Net Realized Investment Gain (Loss) 27.5 1.1 (29.5) 25.6
Total Revenue 2,593.1 2,527.9 2,510.6 2,561.6
Income Before Income Tax 335.5 326.5 308.1 361.2
Net Income 225.8 220.8 209.7 229.8
Net Income Per Common Share
Basic 0.71 0.68 0.63 0.69
Assuming Dilution 0.71 0.68 0.63 0.69
2009
(in millions of dollars, except share data) 4th 3rd 2nd 1st
Premium Income $1,865.7 $1,861.1 $1,875.9 $1,872.8
Net Investment Income 595.7 579.6 597.6 573.7
Net Realized Investment Gain (Loss) (25.9) 14.9 87.3 (64.6)
Total Revenue 2,496.6 2,517.5 2,628.0 2,448.9
Income Before Income Tax 295.9 334.6 411.2 250.6
Net Income 199.4 221.1 267.2 164.9
Net Income Per Common Share
Basic 0.60 0.67 0.81 0.50
Assuming Dilution 0.60 0.66 0.80 0.50