Aflac Inc. - AFL STOCK NEWS

Aflac (NYSE: AFL) has announced its upcoming annual Financial Analysts Briefing, scheduled for December 3, 2024, beginning at 8:00 a.m. ET. The event will be accessible via webcast, requiring prior registration. During the briefing, executive management will present insights into the company's operations and strategy for both U.S. and Japan markets, along with their medium-term outlook.

Presentation materials will be made available on investors.aflac.com after market close on December 2, 2024. An archive of the presentations will remain accessible on the investor website for two weeks following the webcast.

Aflac's 14th annual WorkForces Report reveals increasing workplace stress and burnout affecting nearly 3 in 5 American workers. Millennials show the highest burnout rates at 66%, compared to Gen X (55%) and baby boomers (39%). Employee stress levels rose to 38% in 2024 from 33% in 2023, with Hispanic workers experiencing significantly higher rates. The report highlights growing financial vulnerability, with 51% of employees unable to afford $1,000 in unexpected medical expenses. Notably, 93% of employees see an increasing need for supplemental insurance, while 62% would consider leaving their jobs for better benefits even with a pay cut.

Aflac's 14th annual WorkForces Report reveals increasing workplace stress and burnout affecting nearly 3 in 5 American workers, with millennials most affected at 66%. The study shows 38% of employees experiencing high stress levels in 2024, up from 33% in 2023, with Hispanic workers reporting higher rates at 46%. Financial vulnerability is widespread, with 51% unable to afford $1,000 in unexpected medical expenses. The report highlights that 93% of employees see an increasing need for supplemental insurance, while 62% would consider leaving their jobs for better benefits even with a pay cut. Notable findings include 50% of employees showing 'quiet quitting' behaviors and 70% experiencing anxiety about unexpected medical conditions.

Aflac has appointed JR Shamley as Senior Vice President, National Account Business Development and Growth Solutions. With over 30 years of experience in group insurance, Shamley joins from Aon where he served as Senior Vice President, Time Away and Life Solutions Practice Leader. In his new role, he will focus on aligning distribution and business strategies to drive profitable growth in the national accounts segment, which serves employers with 5,000+ covered lives. Previously, Shamley held senior positions at Prudential, AIG, and Hartford, bringing extensive experience in consulting for large employers and developing group benefits marketplace solutions.

Aflac Incorporated announced key leadership promotions effective January 1, 2025. Virgil R. Miller has been promoted to president of Aflac Incorporated while retaining his role as president of Aflac U.S. His expanded responsibilities include supporting profitable growth initiatives, advancing digital capabilities, and managing product evolution. Additionally, Audrey Boone Tillman and Max K. Brodén have been elevated to senior executive vice president positions. Tillman oversees Compliance, Government Relations, and Sustainability efforts, while Brodén leads corporate development, financial operations, and global investments. All executives will continue reporting to Chairman and CEO Daniel P. Amos.

Aflac Incorporated reported third quarter 2024 results with total revenues of $2.9 billion, a decline from $5.0 billion in Q3 2023. The company posted net losses of $93 million ($0.17 per diluted share) compared to earnings of $1.6 billion ($2.64 per diluted share) a year ago, primarily due to foreign exchange-related losses from yen strengthening by 12.9%.

Net investment losses were $1.4 billion, driven by losses on derivatives and foreign currency activities. However, adjusted earnings increased by 10.6% to $1.2 billion, with adjusted EPS rising 17.4% to $2.16.

Shareholders' equity grew to $24.8 billion ($44.60 per share) from $22.7 billion ($38.63 per share) a year ago. Aflac declared a fourth quarter dividend of $0.50 per share and repurchased $500 million in common shares.

In Japan, net earned premiums in yen fell 10.5%, while in the U.S., net earned premiums increased 2.8%. The company emphasized continued focus on profitable growth in both markets.

Aflac has won the 2024 CSO Award for its 'Quackcess Granted' Passkey Authentication Initiative, powered by Transmit Security. The project implemented passkey authentication as a secure alternative to traditional passwords, achieving a 96% login success rate and 32% adoption rate among policyholders, surpassing the initial 10% target. Over 265,000 Aflac policyholders have enrolled in the program, with no reported login failures and minimal technical support needs. The initiative, built on FIDO standards, allows customers to sync biometric credentials across devices through cloud technology, eliminating passwords and outdated multi-factor authentication methods.

According to the 2024 Aflac Wellness Matters Survey, 3 in 5 Americans have avoided recommended health screenings. The survey reveals that cancer patients were more likely to have avoided screenings, though 56% of diagnoses came from routine exams. Aflac employees shared personal experiences highlighting the importance of regular screenings, particularly regarding skin cancer detection. Multiple cases demonstrated how routine check-ups led to early detection and successful treatment of melanoma and other skin cancers, emphasizing the critical role of preventive care and regular wellness appointments.

In September, My Special Aflac Duck® visited New York City, bringing joy to pediatric cancer and sickle cell patients at The Children's Hospital at Montefiore Einstein. Aflac partnered with Sunrise Day Camp to provide fun activities for children and families. My Special Aflac Duck is a social robot that helps kids prepare for medical procedures and communicate their feelings.

A recent study showed reduced distress, nausea, pain, and anxiety in children who received the duck. Since 2018, Aflac has distributed over 32,000 ducks free of charge to patients aged 3 and up. This program is part of Aflac's $184 million contribution to pediatric cancer and blood disorder research and programs. Health care providers and families can order the duck for free at MySpecialAflacDuck.com.