Aflac Inc. - AFL STOCK NEWS

Aflac Incorporated (NYSE: AFL) has completed the acquisition of Zurich North America's U.S. Corporate Life and Pensions business, including the Benefit Harbor Insurance Services. This acquisition aligns with Aflac's buy-to-build strategy, promoting capital deployment into growth initiatives. The total transaction value is below $200 million, with expected annualized premium from in-force group life and disability policies at approximately $120 million. Aflac anticipates modest run-rate dilution in the near term, enhancing its value proposition and market opportunities.

Aflac recognized its top-12 employee volunteers for 2019, who logged over 16,450 hours of service to various charities. This marks a 7% increase in volunteer hours compared to 2018. Aflac has a long-standing tradition of community service, with 461 employees participating, a 2% rise from the previous year. Honorees will receive a customized sign in their yards and a donation to their chosen charity. Aflac emphasizes its commitment to corporate social responsibility, recently earning accolades as a 2020 goBeyondProfit Champion for its community engagement.

Aflac reported significant growth in its third quarter 2020 results, with total revenues rising to $5.7 billion, up from $5.5 billion in Q3 2019. Net earnings surged to $2.5 billion or $3.44 per diluted share, boosted by a $1.4 billion tax benefit. Adjusted earnings also increased 15.2% to $994 million. However, premium income in Japan and the U.S. declined 2.3% and 2.6%, respectively, due to COVID-19 impacts. The board declared a fourth-quarter dividend of $0.28 per share.

Aflac Incorporated (NYSE: AFL) is set to release its third quarter financial results on October 27, 2020, after market closure. Earnings materials will be accessible on the company's Investor Relations website. A conference call to discuss the results, featuring key executives including Chairman and CEO Daniel P. Amos, is scheduled for 9:00 a.m. (ET) on October 28, 2020. The discussion will cover the financial outlook amidst the ongoing COVID-19 pandemic.

Aflac has released its 2019 Corporate Social Responsibility Report, celebrating 65 years of commitment to ethical business practices. The report highlights Aflac's initiatives in governance, workplace inclusivity, philanthropy, and environmental sustainability. Key achievements include a 64% representation of ethnic minorities and women on its board, a contribution of over $172 million to pediatric cancer support, and a 48% reduction in carbon emissions in Japan since 2004. Aflac aims to create a better future for its stakeholders while upholding its core values.

Aflac announced a $1.5 million annual contribution to the Sickle Cell Disease Program at the Aflac Cancer and Blood Disorders Center in Atlanta, marking a total of over $6 million donated. This initiative coincides with National Sickle Cell Awareness Month and highlights Aflac's commitment to combating this inherited disease that impacts children significantly. In 2019, over 2,050 children were treated for sickle cell disease at the center. Aflac's funding aims to enhance treatment capabilities, especially through bone marrow transplants, aligning with their environmental, social, and governance (ESG) initiatives.

Aflac conducted a national survey revealing significant changes in employee behavior concerning open enrollment during the COVID-19 pandemic. Of the surveyed employees, 49% indicated they are now investing more time researching benefits, a noteworthy shift from the previous norm of 92% choosing the same benefits annually. Financial impacts from the pandemic are evident, with 67% reporting at least minor financial issues. Additionally, 63% expect expanded benefits, underscoring an anticipated rise in demand for better insurance options in the workforce.