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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, a leader in supplemental insurance, has been recognized as one of the 2021 Best Places to Work in IT, ranked No. 16 among large organizations in the U.S. This marks the 21st time Aflac has received this accolade. The company's IT department has been instrumental in enhancing the policyholder experience during pandemic challenges. The recognition is based on factors like employee benefits, training, and diversity within IT management. Aflac's commitment to innovation and collaboration is highlighted by its focus on attracting IT talent to enhance customer service.
Aflac supports the recognition of Juneteenth as a national holiday, celebrating the end of slavery in the U.S. The company commends Congress and President Biden for this historic decision. In 2021, Aflac will provide employees with a paid floating holiday to reflect on the significance of fairness and freedom. Starting in 2022, June 19 will be added to Aflac's annual paid holidays, further exemplifying the company’s commitment to diversity and inclusion.
AM Best has revised the outlook for Aflac's Long-Term Issuer Credit Rating (ICR) to positive from stable and affirmed its Financial Strength Rating (FSR) of A+ (Superior). Aflac's operating performance, balance sheet strength, and risk management practices are recognized as strong. The positive outlook reflects improvements in enterprise risk management and Aflac's ability to navigate challenges, including the COVID-19 pandemic. The company’s pre-tax net gains for 2020 were $4.2 billion, slightly lower than the previous year. Aflac is a leader in the Japanese insurance market and has diversified its offerings.
Aflac has released its 2021 Men's Health Issues Survey, highlighting a disparity between men's health perceptions and realities. Although 90% of men believe they lead healthy lifestyles, CDC data shows nearly half have high blood pressure, and 43% are obese. The study reveals that while spouses often encourage men to seek medical care, 58% hold beliefs that deter them from proactive health check-ups. Key barriers include perceived costs and misconceptions about masculinity. Aflac emphasizes the need for more education on men's health and suggests supplemental insurance to alleviate treatment costs.
Aflac Incorporated (NYSE: AFL) announced the appointment of Takeko Uemoto as senior vice president and enterprise corporate actuary, effective May 10, 2021. Uemoto will oversee regulatory and economic capital management modeling and actuary analysis for Aflac's U.S. and Japan subsidiaries. With over 20 years of experience in actuarial and financial leadership, Uemoto previously held key roles at Prudential Insurance and Goldman Sachs. Aflac aims to strengthen its capital management and actuarial analysis to enhance shareholder value and policyholder support.
Aflac Incorporated (NYSE: AFL) reported Q1 2021 revenues of $5.9 billion, up from $5.2 billion year-over-year. Net earnings surged to $1.3 billion ($1.87 per share), driven by $304 million in adjusted net investment gains versus losses of $448 million in Q1 2020. Adjusted earnings reached $1.1 billion, a 20.0% increase. Aflac Japan saw a 3.6% decline in net premium income, while U.S. net premium income dropped 4.1%. The board declared a dividend of $0.33 per share.
Aflac Incorporated (NYSE: AFL) will release its first quarter financial results after market close on April 28, 2021. Earnings materials will be accessible on the company's Investor Relations website. A conference call is scheduled for April 29, 2021, at 9:00 a.m. ET, where executives will discuss the results and outlook influenced by the ongoing COVID-19 pandemic. Aflac is a leading supplemental insurer in the U.S. and Japan, providing financial protection to over 50 million people.
AM Best has assigned a Long-Term Issue Credit Rating of 'a-' to Aflac's new yen-denominated senior unsecured notes totaling JPY 82.0 billion. This includes notes with varying maturities from 2031 to 2051. The stable outlook reflects Aflac's sound financial metrics, despite an expected temporary increase in financial leverage to around 21%. The proceeds will be used to prefund a forthcoming USD 700 million debt repayment. Aflac maintains a strong liquidity position with over USD 5.1 billion in cash and cash equivalents.
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