Unum Group's Board of Directors Authorizes $750M Buyback

Unum Group (NYSE: UNM) announced today that its Board of Directors hasauthorized the repurchase of up to $750 million of the company's outstandingcommon stock through June 12, 2015. This new authorization replaces theprevious authorization of $750 million that was scheduled to expire on Jan.31, 2014.“This action by our Board of Directors reflects the confidence we have in ourbusiness plan, including our ability to continue to generate capital,” saidThomas R. Watjen, president and chief executive officer. “As has been the casein the past, we will seek to deploy that capital in the best way possible forour shareholders, and share repurchases will remain an important part of ourcapital management strategy.”The timing and amount of any share repurchases under the new authorization,which may be made in the open market or in privately negotiated transactions,including accelerated share repurchase transactions, will be determined bymanagement based on market conditions and other considerations. The programcan be modified, extended, or terminated by the board at any time.ABOUT UNUMUnum Group (www.unum.com) is a leading provider of financial protectionbenefits in the United States and the United Kingdom. Unum's portfolioincludes disability, life, accident and critical illness coverage, which helpprotect millions of working people and their families in the event of anillness or injury. The company reported revenues of $10.5 billion in 2012, andits subsidiaries – Unum US, Colonial Life and Unum UK – provided $6.3 billionin benefits last year.For more information visit us at www.unum.com or connect with us atwww.facebook.com/unumbenefits, www.twitter.com/unumnews andwww.linkedin.com/company/unumSAFE HARBOR STATEMENTCertain information in this press release constitutes "forward-lookingstatements" within the meaning of the Private Securities Litigation Reform Actof 1995. Forward-looking statements are those not based on historicalinformation, but rather relate to outlook, future operations, strategies,financial results, or other developments and speak only as of the date made.These forward-looking statements, including statements about our ability togenerate capital, are subject to numerous assumptions, risks, anduncertainties, many of which are beyond our control. The following factors, inaddition to other factors mentioned from time to time, may cause actualresults to differ materially from those contemplated by the forward-lookingstatements: (1) unfavorable economic or business conditions, both domestic andforeign; (2) sustained periods of low interest rates; (3) fluctuation ininsurance reserve liabilities and claim payments due to changes in claimincidence, recovery rates, mortality rates, and offsets due to, among otherfactors, the rate of unemployment and consumer confidence, the emergence ofnew diseases, epidemics, or pandemics, new trends and developments in medicaltreatments, the effectiveness of claims management operations, and changes ingovernment programs; (4) legislative, regulatory, or tax changes, bothdomestic and foreign, including the effect of potential legislation andincreased regulation in the current political environment; (5) investmentresults, including but not limited to, changes in interest rates, defaults,changes in credit spreads, impairments and the lack of appropriate investmentsin the market which can be acquired to match our liabilities; (6) effects ofbusiness disruption or economic contraction due to disasters such as terroristattacks, cyber attacks, other hostilities, or natural catastrophes, includingany related impact on the value of our investment portfolio, our disasterrecovery systems, cyber or other information security systems, and businesscontinuity planning; (7) ineffectiveness of our derivatives hedging programsdue to changes in the economic environment, counterparty risk, ratingsdowngrades, capital market volatility, changes in interest rates, and/orregulation; (8) increased competition from other insurers and financialservices companies due to industry consolidation or other factors; (9) changesin our financial strength and credit ratings; (10) damage to our reputationdue to, among other factors, regulatory investigations, legal proceedings,external events, and/or inadequate or failed internal controls and procedures;(11) actual experience that deviates from our assumptions used in pricing,underwriting, and reserving; (12) actual persistency and/or sales growth thatis higher or lower than projected; (13) changes in demand for our products dueto, among other factors, changes in societal attitudes, the rate ofunemployment, consumer confidence, and/or legislative and regulatory changes,including healthcare reform; (14) effectiveness of our risk managementprogram; (15) the level and results of litigation; (16) changes in accountingstandards, practices, or policies; (17) fluctuation in foreign currencyexchange rates; (18) ability to generate sufficient internal liquidity and/orobtain external financing; (19) availability of reinsurance in the market andthe ability of our reinsurers to meet their obligations to us; and (20)recoverability and/or realization of the carrying value of our intangibleassets, long-lived assets, and deferred tax assets.For further information about risks and uncertainties which could cause actualresults to differ from those contained in the forward-looking statements, seePart I, Item 1A of our annual report on Form 10-K for the year ended Dec. 31,2012 and any subsequently filed Forms 10-Q. The forward-looking statements inthis press release are being made as of the date of this press release, andthe Company expressly disclaims any obligation to update or revise anyforward-looking statement contained herein, even if made available on ourwebsite or otherwise.