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Aflac Inc. (NYSE: AFL) is a globally recognized insurance company providing supplemental health and life insurance solutions across the United States and Japan. Established over 68 years ago, Aflac has been at the forefront of offering financial protection and peace of mind to millions of policyholders. The company's product portfolio includes cancer policies, accident insurance, dental and vision coverage, disability, and long-term care insurance.
In the United States, Aflac is the leading provider of supplemental health insurance products, reaching over 50 million people worldwide. In Japan, Aflac Life Insurance Japan holds the top position for cancer and medical insurance in terms of policies in force. The company operates through two main segments: Aflac U.S. and Aflac Japan, with the latter generating the majority of its revenue.
Aflac's innovative approach extends beyond traditional insurance. The company utilizes independent distributors to market its products, often selling directly to consumers at their workplaces, and leveraging digital mediums to reach a broader audience. The wide array of products available helps businesses of all sizes offer their employees comprehensive benefits, enhancing employee satisfaction without incurring direct costs to the employers.
Recent achievements highlight Aflac's commitment to growth and innovation. Aflac Global Investments has expanded its portfolio by acquiring a 40% stake in Tree Line Capital Partners, enhancing its capabilities in middle-market direct lending. Additionally, Aflac's strategic partnership with Nayya aims to revolutionize the claims experience for customers by integrating advanced data analytics and personalized digital benefits guidance.
The company's financial health is robust, with first-quarter 2024 revenues reported at $5.4 billion, reflecting a substantial increase from $4.8 billion in the first quarter of 2023. Net earnings also saw a significant rise to $1.9 billion, driven by net investment gains and strategic financial management.
Aflac's dedication to corporate social responsibility and sustainability is evident through its numerous accolades. The company has been recognized as one of the World's Most Ethical Companies by Ethisphere for 18 consecutive years and included in Fortune's World's Most Admired Companies for 23 years. Aflac's philanthropic efforts include the My Special Aflac Duck program, providing comfort to pediatric cancer patients, and significant contributions to cancer research and treatment.
For more information on Aflac's products, services, and ongoing initiatives, visit aflac.com.
Aflac Incorporated (NYSE: AFL) will release its third quarter financial results on October 27, 2021, after market closure. Earnings materials will be accessible on their Investor Relations website. A conference call to discuss the results will take place on October 28, 2021, at 9:00 a.m. ET, featuring company executives addressing the results and outlook related to COVID-19. Aflac, a leading supplemental insurer, serves over 50 million people and is recognized for its ethical practices and commitment to gender equality.
The 2021 Aflac WorkForces Report reveals significant shifts in employee health benefits decisions due to the COVID-19 pandemic. Almost 44% of U.S. employees purchased at least one new health benefit, with many adding life insurance, critical illness coverage, or telehealth services. The report highlights that those who tested positive for COVID-19 were significantly more likely to seek new benefits. Additionally, rising health care costs have increased employer challenges, with only 61% of employees satisfied with their benefits, despite 76% of employers believing otherwise.
AM Best has assigned indicative Long-Term Issue Credit Ratings of “a-” (Excellent) to senior unsecured issues and “bbb+” (Good) to subordinated issues of Aflac Incorporated (AFL). The outlook is positive, reflecting Aflac’s robust risk management and capital preservation efforts during the COVID-19 pandemic. Aflac's financial leverage stands at 24.0% with EBIT interest coverage at approximately 22 times through June 30, 2021. The company’s next debt maturity is in 2024. Ratings on the previous shelf registration have been withdrawn, but all other ratings remain unchanged.
Aflac Incorporated (NYSE: AFL) will have Chief Financial Officer Max K. Brodén speak at the 2021 KBW Insurance Conference on September 9, 2021, at 11:40 a.m. ET. The discussion will be available for live streaming here and a replay can be accessed for 90 days afterward. Aflac provides supplemental insurance to over 50 million people in the U.S. and Japan and is recognized for its ethical business practices, including being named one of the World's Most Ethical Companies.
Aflac, a leading supplemental insurance provider, is commemorating National Sickle Cell Awareness Month with educational initiatives. Starting in early 2022, Aflac will expand its My Special Aflac Duck program to support children with sickle cell disease (SCD), offering comforting companions free to kids aged 3 and older. This program builds on Aflac's commitment to helping nearly 12,000 children facing pediatric cancer. The new campaign includes accessories tailored for SCD patients and aims to increase awareness through webinars and partnerships, addressing health disparities in underserved communities.
Aflac announced a new partnership with football legend Deion "Prime" Sanders to celebrate the return of college football. Through a series of ads, Aflac aims to promote its supplemental insurance that covers unexpected medical bills. The campaign includes donations to HBCUs, such as $75,000 to Jackson State University, and a $1 million commitment to Morehouse School of Medicine. Aflac's initiative also features collaborations with ESPN and aims to engage communities of color, emphasizing its long-standing support for HBCUs and economic development efforts.
Governor Ned Lamont announced that Aflac will serve as the claims administrator for Connecticut's Paid Leave Authority, expected to create approximately 150 jobs in Windsor. Aflac will handle applications, eligibility determinations, and benefit administration for paid leave, providing flexible application options. This partnership aims to support Connecticut workers and enhance economic growth in the region. Aflac was chosen through a competitive bidding process, highlighting its strong reputation and commitment to job creation in Connecticut.
Aflac Incorporated (NYSE: AFL) reported second-quarter 2021 results, revealing total revenues of $5.6 billion, up from $5.4 billion in Q2 2020. Net earnings soared to $1.1 billion ($1.62 per diluted share), a significant increase from $805 million ($1.12) last year, driven by higher net investment gains. Adjusted earnings also rose to $1.1 billion, reflecting a 17.3% increase. The company repurchased $500 million in shares, maintaining a strong capital position. Despite challenges in premium income, particularly in Aflac U.S., new sales in Japan improved significantly.
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