Unum 2013 Annual Report Download - page 57

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UNUM 2013 ANNUAL REPORT / 55
Sales
Shown below are sales results in dollars and in pounds for the Unum UK segment.
Year Ended December 31
(in millions) 2013 % Change 2012 % Change 2011
Sales by Product
Group Long-term Disability $50.5 (1.4)% $51.2 7.1% $ 47.8
Group Life 21.4 (43.7) 38.0 (13.2) 43.8
Supplemental 3.9 (20.4) 4.9 (43.0) 8.6
Total Sales $75.8 (19.4) $94.1 (6.1) $100.2
Sales by Market Sector
Group Long-term Disability and Group Life
Core Market (< 500 lives) $38.9 0.5% $38.7 3.2% $ 37.5
Large Case Market 33.0 (34.7) 50.5 (6.7) 54.1
Subtotal 71.9 (19.4) 89.2 (2.6) 91.6
Supplemental 3.9 (20.4) 4.9 (43.0) 8.6
Total Sales $75.8 (19.4) $94.1 (6.1) $100.2
Sales by Product
Group Long-term Disability £32.2 (0.3)% £32.3 8.4% £ 29.8
Group Life 13.7 (43.2) 24.1 (12.4) 27.5
Supplemental 2.5 (19.4) 3.1 (42.6) 5.4
Total Sales £48.4 (18.7) £59.5 (5.1) £ 62.7
Sales by Market Sector
Group Long-term Disability and Group Life
Core Market (< 500 lives) £24.9 2.0% £24.4 4.3% £ 23.4
Large Case Market 21.0 (34.4) 32.0 (5.6) 33.9
Subtotal 45.9 (18.6) 56.4 (1.6) 57.3
Supplemental 2.5 (19.4) 3.1 (42.6) 5.4
Total Sales £48.4 (18.7) £59.5 (5.1) £ 62.7
Sales in Unum UK’s group long-term disability product line during 2013 were consistent with 2012, with higher new account sales and
an increase in core market sales offset by a decrease in sales to existing customers and a decline in sales in the large case market. Group
life sales were lower in 2013 compared to 2012 as a result of declines in new account sales in both the core and large case markets, which
more than offset higher sales to existing customers. The decrease in group life sales was due in part to pricing discipline and the initiation
of rate increases on new business. Also impacting the comparability of group life sales relative to 2012 was the discontinuance of new
sales of certain of our group life product lines beginning in the third quarter of 2012. Supplemental sales were lower in 2013 compared to
2012 due primarily to lower sales in our individual disability product line.
Sales in Unum UK’s group long-term disability product line were higher in 2012 compared to 2011 due to higher new account sales in
both the core and large case markets, partially offset by lower sales to existing customers. Group life sales were lower in 2012 compared
to 2011 due to our discontinuance of new sales of certain of our group life product lines, lower large case sales, and lower sales to existing
customers, partially offset by higher core market sales. Supplemental sales were lower in 2012 compared to 2011 due primarily to lower
sales in our group critical illness and individual disability product lines.