Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Unum Group (UNM) Halal?

FAIL

Unum Group · NYSE: UNM · Financials

The short answer

Unum Group fails the Shariah screen: its core business is conventional insurance (disability, life, accident and supplemental health policies), and net investment income of 15.55% of revenue is far over the 5% ceiling. Debt of $3.77 billion (27.0% of its ~$13.94 billion market cap) passes, but the first gate already fails.

Gate 1 — Business activity: FAIL

Gate 1 — business activity: FAIL. Unum Group, founded in 1848 and headquartered in Chattanooga, Tennessee, is a conventional financial protection company. Per its FY2025 financials, it sells disability, life, accident, and supplemental health insurance products primarily in the United States, the United Kingdom, and Poland, mainly through employers. FY2025 premium income was $10,831.0 million, with segments Unum US (group disability, group life and accidental death & dismemberment, voluntary benefits, individual disability, dental and vision), Unum International (Unum UK, Unum Poland), and Colonial Life (accident, sickness and disability; life; cancer and critical illness).

Conventional insurance fails this screener's business screen — consistent with how the Aflac and Arch Capital screeners were assessed. Note: in July 2026 Unum announced a $3.8 billion long-term care reinsurance transaction with Fortitude Re (26% of its total LTC statutory reserves) — a reserve-transfer transaction, not a change in its insurance business model.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (27.0%, ceiling 33%). Per balance-sheet data derived from the FY2025 Form 10-K, total long-term debt was $3,768 million at December 31, 2025 (no short-term borrowings). $3.77 billion against a market capitalization of about $13.94 billion (Finnhub, October 2, 2026) is 27.0%, under the 33% ceiling — but the screen already fails at gate 1. Cash and cash equivalents of about $158.2 million at December 31, 2025 represent about 1.1% of market cap.

Gate 3 — Non-compliant income: FAIL

Gate 3 — non-compliant income: FAIL (15.55%, ceiling 5%). Unum's FY2025 financials separately disclose net investment income of $2,032.7 million — the return on the bond portfolio backing its insurance policies — against total revenue of $13,075.5 million. That is about 15.55%, far over the 5% ceiling. (Net investment loss of $106.6 million and other income of $318.4 million are separate lines.)

Key figures used

Frequently asked questions

What does Unum Group do?

Unum Group (NYSE: UNM), founded in 1848 and headquartered in Chattanooga, Tennessee, is a financial protection company selling disability, life, accident, and supplemental health insurance. It operates through three segments: Unum US (group disability, group life and accidental death and dismemberment, voluntary benefits, individual disability, dental and vision), Unum International (Unum UK and Unum Poland), and Colonial Life (accident, sickness and disability; life; cancer and critical illness). Products are sold mainly to employers for their employees. FY2025 premium income was $10,831.0 million and total revenue was $13,075.5 million.

Is Unum Group's business Shariah compliant?

No. Unum is a conventional insurer — its core business is selling disability, life, accident, and supplemental health insurance policies, and its FY2025 revenue was dominated by $10,831.0 million of premium income. Conventional insurance fails this screener's business screen, consistent with how the Aflac and Arch Capital screeners were assessed. The July 2026 $3.8 billion long-term care reinsurance transaction with Fortitude Re is a reserve transfer, not a change in its insurance business model.

How much interest-bearing debt does Unum Group have?

Per balance-sheet data derived from the FY2025 Form 10-K, Unum had total long-term debt of $3,768 million at December 31, 2025, with no short-term borrowings. $3.77 billion against a market cap of about $13.94 billion (Finnhub, October 2, 2026) is 27.0%, under the 33% ceiling — but the screen already fails at gate 1. Cash and cash equivalents of about $158.2 million are about 1.1% of market cap.

How much interest income does Unum Group earn?

Unum's FY2025 financials separately disclose net investment income of $2,032.7 million — the return on the bond portfolio backing its insurance policies. Against FY2025 total revenue of $13,075.5 million that is about 15.55%, far over the 5% non-compliant income ceiling.

What do third-party Shariah screeners say about Unum Group?

Zoya publishes an Unum Group (UNM) page and currently flags the stock as not Shariah-compliant, though the page's FAQ text is internally contradictory about its own answers, so treat its published reasoning with caution. Musaffa also classifies UNM as not halal as of October 2026. No ShariaPortfolio rating could be verified from public sources. All three third-party positions are consistent with this page's FAIL result.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).