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unum news Exhibit 99.1 1 Fountain Square Chattanooga , TN 37402 www.unum.com FOR IMMEDIATE RELEASE Contacts MEDIA Natalie Godwin ngodwin@unum.com INVESTORS Tom White 423-294-8996 tawhite@unum.com • • Unum Group Reports Third Quarter 2021 Results Net income of $ 328.6 million ( $ 1.60 per diluted common share ) for the third quarter of 2021 ; after - tax adjusted operating income was $ 210.5 million ( $ 1.03 per diluted common share ) . Results reflect higher COVID - related mortality and evolving nature of the pandemic , growth in sales and premium , and continued strong returns in alternative invested asset portfolio . Strong balance sheet and liquidity with holding company cash of $ 1.6 billion ; weighted average risk - based capital ratio of approximately 380 percent . Robust capital position enables balanced capital deployment plans , with the previously announced share repurchase authorization . GAAP actuarial assumption updates ; favorable long - term disability recovery trends drive GAAP claim reserve release . • Book value per common share of $ 54.39 grew 1.7 percent over the year - ago quarter . CHATTANOOGA , Tenn . ( November 2 , 2021 ) - Unum Group ( NYSE : UNM ) today reported net income of $ 328.6 million ( $ 1.60 per diluted common share ) for the third quarter of 2021 , compared to net income of $ 231.1 million ( $ 1.13 per diluted common share ) for the third quarter of 2020 . Included in net income for the third quarter of 2021 are a net after - tax reserve decrease related to reserve assumption updates of $ 143.3 million ( $ 0.70 per diluted common share ) , an after - tax impairment loss on internal - use software of $ 9.6 million ( $ 0.05 per diluted common share ) , the after - tax amortization of the cost of reinsurance of $ 15.5 million ( $ 0.08 per diluted common share ) , and a net after - tax realized investment loss on the Company's investment portfolio of $ 0.1 million ( $ ― per diluted common share ) . Included in net income for the third quarter of 2020 are after - tax costs related to an organizational design update of $ 18.6 million ( $ 0.09 per diluted common share ) , as well as a net after - tax realized investment gain on the Company's investment portfolio of $ 3.8 million ( $ 0.01 per diluted common share ) . Excluding the items above , after - tax adjusted operating income was $ 210.5 million ( $ 1.03 per diluted common share ) in the third quarter of 2021 , compared to $ 245.9 million ( $ 1.21 per diluted common share ) in the third quarter of 2020 . " Our solid core business performance in the third quarter was offset by elevated levels of COVID mortality among younger populations , where we have a greater presence as a leading provider of employee benefits . Overall , we saw steady growth in sales and premiums in line with our expectations , ” said Richard P. McKenney , president and chief executive officer . “ Thanks to our strong capital position , we recently announced a new $ 250 million share repurchase authorization , which is coupled with investing in our business and returning capital to shareholders through dividends . " UNUM IS A REGISTERED TRADEMARK AND MARKETING BRAND OF UNUM GROUP AND ITS INSURING SUBSIDIARIES .