$UNM · Unum Group
Unum Group's Q3 FY2026 10-Q shows a net loss of $419.7M ($2.65 diluted EPS) versus a $39.7M profit ($0.23) a year earlier. Total revenue fell 24.6% to $2.547B, dragged by an $853.0M net investment loss versus a $128.0M gain in Q3 2025. Premium income actually rose to $2,800.7M from $2,688.0M, and net investment income grew to $522.4M from $476.8M. Nine-month net income fell to $69.2M from $564.4M.
- Q3 net loss of $419.7M versus $39.7M profit a year ago.
- Net investment loss of $853.0M versus a $128.0M gain in Q3 2025.
- Total revenue fell 24.6% to $2.547B.
- Premium income rose to $2,800.7M from $2,688.0M.
- Nine-month net income dropped to $69.2M from $564.4M.
Shares fell 17.84% to $74.79 in the regular session, with extended-hours last trade at $75.00 (+0.28% vs close). The $11.84B market cap absorbed a sharp selloff on the surprise loss.
A $419.7M quarterly loss from investment marks, not underwriting, shows how rate-driven portfolio swings can overwhelm otherwise solid premium growth.
The loss stems from investment-portfolio mark-to-market swings, a recurring volatility source for insurers with large fixed-maturity books amid rate moves.
Investment losses and unrealized-loss volatility on the fixed-maturity portfolio ($32.99B fair value) drove the swing; accumulated other comprehensive loss narrowed to $1,224.0M from $1,808.5M.