Unum 2013 Annual Report Download - page 15

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UNUM 2013 ANNUAL REPORT / 13
Sometimes that means difficult
decisions about walking away from
business or holding firm on pricing,
despite intense pressures from
competitors. Those decisions aren’t
easy, but they are part of our culture
of discipline and consistency.
In addition to our measured approach
to pursuing future opportunities, our
business dedicates substantial resources
to the thoughtful management of our
Closed Block of legacy business. We
have significantly increased the
resources committed to this area.
Though we no longer sell the products
in the Closed Block segment, a sub-
stantial portion of our capital supports
this business. Our leadership team
has a sharp focus on managing that
capital and taking deliberate actions
to improve operating results.
The start of 2014 finds us with strong
market positions, a solid financial base,
and a commitment to maintaining
the discipline at the heart of our past
success. We believe it’s a healthy way
to build an enduring company.
“ A strong value proposition and product
innovations continue to help us expand
the market for financial protection
benefits in the U.K., while a disciplined
approach to our business has brought
the kinds of solid and predictable results
that serve our customers and colleagues.
Above all, we’ve stayed focused on
offering a customer experience that is
second to none.”
Peter O’Donnell, President and CEO, Unum UK
“ Disciplined operational execution
is critical to successfully serving our
Closed Block customers. Applying
that same discipline to the develop-
ment of tools and analytic capabilities
to fully understand how that business
will play out over time will be critical
to our success.”
Jack McGarry, President and CEO,
Closed Block Operations