Unum 2015 Annual Report Download - page 46

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Management’s Discussion and Analysis
of Financial Condition and Results of Operations
44 Unum 2015 Annual Report
Unum US Group Disability Operating Results
Shown below are financial results and key performance indicators for Unum US group disability.
Year Ended December 31
(in millions of dollars, except ratios) 2015 % Change 2014 % Change 2013
Operating Revenue
Premium Income
Group Long-term Disability $1,644.7 5.9% $1,553.5 —% $1,553.9
Group Short-term Disability 607.4 8.8 558.1 7.4 519.6
Total Premium Income 2,252.1 6.7 2,111.6 1.8 2,073.5
Net Investment Income 496.5 (3.8) 515.9 (5.8) 547.4
Other Income 92.9 2.1 91.0 (4.8) 95.6
Total 2,841.5 4.5 2,718.5 0.1 2,716.5
Benefits and Expenses
Benefits and Change in Reserves for Future Benefits 1,834.0 5.0 1,746.4 0.8 1,732.9
Commissions 172.2 6.8 161.2 (1.7) 164.0
Deferral of Acquisition Costs (43.2) 7.5 (40.2) 35.8 (29.6)
Amortization of Deferred Acquisition Costs 33.7 28.1 26.3 24.6 21.1
Other Expenses 572.4 4.1 550.0 3.3 532.4
Total 2,569.1 5.1 2,443.7 0.9 2,420.8
Operating Income $ 272.4 (0.9) $ 274.8 (7.1) $ 295.7
Operating Ratios (% of Premium Income):
Benefit Ratio 81.4% 82.7% 83.6%
Other Expense Ratio 25.4% 26.0% 25.7%
Operating Income Ratio 12.1% 13.0% 14.3%
Persistency:
Group Long-term Disability 92.1% 90.6% 87.2%
Group Short-term Disability 88.1% 89.6% 88.0%