To help provide relief for California policyholders residing in Ventura and San Diego Counties affected by the winter storms, Aflac will provide a premium grace period starting Jan. 22, 2024, and ending Mar. 25, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder
To help provide relief for California policyholders residing in Los Angeles, Orange, Riverside, San Bernardino, San Diego, San Luis Obispo, Santa Barbara, and Ventura Counties affected by the winter storms, Aflac will provide a premium grace period starting Feb. 3, 2024, and ending Apr. 4, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
To help provide relief for California policyholders residing in Alameda, Butte, Glenn, Lake, Mendocino, Monterey, Sacramento, San Francisco, Santa Cruz, Sonoma, and Sutter Counties affected by the winter storms, Aflac will provide a premium grace period starting Feb. 3, 2024, and ending May 21, 2024. This grace period also provides an extension of filing deadlines for claims and leniency for any other action required under the policy. Aflac will provide a replacement copy of the policy upon request by the policyholder.
On Feb. 21, 2024, the cyber event reported by Change Healthcare, a company that assists healthcare providers with claims submissions and payments, has created a significant impact to health care providers, including hospitals, individual practitioners, practice groups, diagnostic centers, laboratories, and pharmacies. We have determined Aflac’s primary operations are not impacted. Further, Aflac and its subsidiaries do not have any direct connection to Change Healthcare systems in any of Aflac’s systems or applications. At this time, we are not aware of any impact to customer data but we are monitoring for any communications from our critical third-party suppliers. While Change Healthcare’s cyber event was not directed at Aflac, we will provide flexibility with claims submissions related to this incident should it be needed. If you believe you have a claim impacted by Change Healthcare’s event, please contact Aflac at 800-992-3522.
AFLAC Incorporated
For the six months, total revenues were $4.8 billion. Net earnings were $358 million, or $1.31 per diluted share, compared with $326 million, or $1.18 per share, for the first six months of 1999. Six-month comparisons of net earnings were affected by unusual items in both years. In addition to the above-mentioned items that impacted net earnings in 2000, net earnings in 1999 included a benefit of $67 million, or $.24 per diluted share, due to a reduction in the deferred income tax liability that resulted from the passage of a corporate tax rate cut in Japan. Operating earnings for the six months were $320 million, or $1.17 per share, compared with $262 million, or $.95 per share, in 1999.
The board of directors declared the third quarter cash dividend of $.085 per share. The dividend is payable on September 1, 2000, to shareholders of record at the close of business on August 17, 2000.
Commenting on the company's second quarter results, President and Chief Executive Officer Daniel P. Amos stated: "We are extremely pleased with AFLAC's financial results for the second quarter and the first half of the year. For the six months, operating earnings per share before currency changes rose 17.9%. We believe our financial performance for the six months puts us in a very good position to achieve the high end of our primary corporate objective for the full year of increasing operating earnings per share 15% to 17% excluding the impact of currency fluctuations. At the same time, we remain optimistic about achieving the 15% to 17% targets we have set for operating earnings per share growth in 2001 and 2002.
"Our enthusiastic outlook for future growth is based on the opportunities we see in Japan and the United States. In both countries, we believe there is a substantial market for affordable, supplemental insurance products. And with the many competitive strengths we bring to the market, including our distribution, operating efficiency and customer service, we believe we are best positioned to take advantage of this market potential."
AFLAC Incorporated is an international holding company. A Fortune 500® company, AFLAC insures more than 40 million people worldwide. It is the leading writer of supplemental insurance marketed at the worksite in the United States, offering policies to employees at more than 150,000 payroll accounts. The company is also the largest foreign insurer in Japan. AFLAC is ranked as the number one insurance company to work for in Fortune magazine's 2000 list of "100 Best Companies to Work For in America." AFLAC's Internet address is aflac.com.
AFLAC Incorporated will webcast its second quarter conference call on the investor information page of aflac.com at 9:00 a.m. (EDT), Wednesday, July 26.
AFLAC INCORPORATED AND SUBSIDIARIES CONSOLIDATED SUMMARY OF EARNINGS
(UNAUDITED -- IN MILLIONS, EXCEPT FOR PER-SHARE AMOUNTS)
THREE MONTHS ENDED JUNE 30, 2000 1999 % Change
Total revenues $2,358 $2,032 16.1%
Operating earnings * 161 130 23.7
Operating earnings per
share (basic) * .61 .49 24.5
Operating earnings per
share (diluted) * .59 .47 25.5
Net earnings 202 130 54.8
Net earnings per share (basic) .76 .49 55.1
Net earnings per share (diluted) .74 .47 57.4
Cash dividends paid per share .085 .075 13.3
Shares used to compute
earnings per share (000):
Basic 265,571 265,818 (.1)
Diluted 272,431 275,969 (1.3)
SIX MONTHS ENDED JUNE 30,
Total revenues $4,756 $4,079 16.6%
Operating earnings ** 320 262 21.9
Operating earnings
per share (basic) ** 1.20 .99 21.2
Operating earnings
per share (diluted) ** 1.17 .95 23.2
Net earnings 358 326 9.9
Net earnings per share (basic) 1.35 1.23 9.8
Net earnings per share (diluted) 1.31 1.18 11.0
Cash dividends paid per share .16 .14 14.3
Shares used to compute earnings
per share (000):
Basic 265,585 265,965 (.1)
Diluted 272,346 276,368 (1.5)
* Excludes realized investment gains/losses in both periods, and in
2000, a benefit of $99 million ($.36 per diluted share) due to the
termination of a retirement liability.
** Excludes realized investment gains/losses in both periods, and in
2000, a benefit of $99 million ($.36 per diluted share) due to the
termination of a retirement liability. In 1999, excludes a benefit of
$67 million ($.24 per diluted share) from a reduction in the deferred
income tax liability.
Forward looking information: Certain statements contained in this press release are "forward looking statements" within the meaning of the federal securities laws. Although the company believes that these statements are reasonable, it can give no assurance that they will prove to be correct because they are prospective in nature. Actual future results may differ materially from those discussed herein. We caution readers that the following factors, in addition to other factors mentioned from time to time in our reports filed with the SEC, could cause actual results to differ materially: regulatory developments, assessments for insurance company insolvencies, competitive conditions, new products, ability to repatriate profits from Japan, general economic conditions in the United States and Japan, changes in U.S. and/or Japanese tax laws, adequacy of reserves, credit and other risks associated with AFLAC's investment activities, significant changes in interest rates, and fluctuations in foreign currency exchange rates.
Analyst and investor contact - Kenneth S. Janke Jr., 800-235-2667, FAX: (706) 324-6330, orkjanke@aflac.com Media contact - Kathelen V. Spencer, 706-596-3789, FAX: 706-323-1448, orkspencer@aflac.com
SOURCE: AFLAC Incorporated
Contact: analysts, investors, Kenneth S. Janke Jr., 800-235-2667, or
fax, 706-324-6330, or
706-596-3789, or fax, 706-323-1448, or
AFLAC Incorporated
Website: http://www.aflac.com/
