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Although the Company believes that its expectations are based upon reasonable assumptions within the bounds of its knowledge of its business and operations, there can be no assurance that actual results will not differ materially from its expectations, including, but not limited to, (i) the outcome of the review of strategic alternatives, (ii) completion of the report by the actuarial consultants including the amount of any additional claim reserves and its impact on the Company's financial condition and (iii) the amount, if any, of active life reserves that may be available to offset any increase in claim reserves.
The current delay is related to the timing of prospective unlocking of factors used in the active life reserves when premium rate increases are needed.
UNUM also announced today it has completed a definitive reinsurance agreement with Centre Life Reinsurance Limited, a Bermuda-based reinsurance specialist, for reinsurance coverage of the active life reserves of UNUM America's existing United States non-cancellable individual disability block of business.