Unum 2015 Annual Report Download - page 15

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Unum 2015 Annual Report 13
COMMITTED TO CONSUMERS
• Protecting 1.3 million people
• $2.3 billion in benefits paid in 2015
• $19 billion in assets supporting reserves
for future benefits
FOCUSED ON STABLE RESULTS
• Earned premium of $1.2 billion
• Before-tax operating income of
$119 million
• Diligence in managing investment returns
More than a million people depend on the disability, long term
care and other insurance coverages that make up our Closed Block
business segment. We no longer sell these legacy products, but
we still have significant obligations to these policyholders and
are actively engaged in profitably managing this business.
We strive for the highest standards of quality for our service and claim
interactions, knowing customers rely on these benefits as they face
serious issues with health and aging. We also recognize that many of
these customers have other products with Unum, and they expect
each interaction with us to reflect the commitments of our brand.
In addition to significant premiums associated with the Closed
Block, more than 30 percent of Unum’s capital is allocated to these
products. We have added resources to support this business and
increased the reserves to help us honor future commitments.
In addition, we continue to evaluate and adjust pricing levels to
support profitability.
“ We keep the needs and expectations of our
customers at the center of all we do, and we
are confident that we are taking the right steps
to manage our business.”
Steve Zabel
President, Closed Block