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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) is set to participate in the Goldman Sachs U.S. Financial Services Conference 2020 on December 8, 2020, at 8:40 a.m. ET. Key executives, including President Frederick J. Crawford and CFO Max K. Brodén, will engage in a fireside chat. The event will be webcast live, with a replay available for six months. Aflac serves over 50 million people globally and is recognized for its commitment to ethical practices and workplace quality. For registration details, visit Aflac’s website.
The 2020 Aflac Health Care Issues Survey revealed that rising medical costs amid the COVID-19 pandemic are forcing American families to prioritize health over holiday spending. Nearly 71% of families faced sacrifices during the holiday season due to medical expenses, with 23% spending less on gifts. The survey showed that 70% of families with children had significant out-of-pocket costs, rising from previous years, with 64% spending over $500. The ongoing financial burden raises concerns about health care coverage decisions, with many families expressing regret over their choices.
Aflac congratulates President-elect Joe Biden and Vice President-elect Kamala Harris on their election victory. The company emphasizes the importance of democracy, noting the historic voter turnout and the efforts of those who facilitated the process. Aflac expresses its commitment to collaborate with the new administration to tackle pressing issues such as pandemic recovery, economic revitalization, and health equity. The company highlights its role as a leading supplemental insurer, offering support to over 50 million people in the U.S. and Japan.
Aflac Incorporated (NYSE: AFL) announced a 17.9% increase in its first quarter dividend to $0.33 per share, payable on March 1, 2021. Shareholders of record at the close of business on February 17, 2021 will receive this dividend. CEO Daniel P. Amos emphasized the company’s commitment to maintaining strong capital ratios while rewarding shareholders and continuing its long-standing record of 38 consecutive years of dividend increases.
Aflac Incorporated (NYSE: AFL) will host its annual Financial Analysts Briefing on November 19, 2020, from 8:00 a.m. to 11:00 a.m. (ET). The event will cover Aflac's business operations in Japan and the United States, focusing on financial outlook and capital management strategies amid the COVID-19 pandemic. Interested participants need to register here. Presentation slides will be posted on investors.aflac.com after market close on November 18, 2020.
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.
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