We care about Aflac’s policyholders affected by recent weather:
To help provide relief for Indiana policyholders residing in Delaware, Jefferson, and Randolph counties affected by the recent tornadoes, Aflac will provide a premium grace period starting March 13, 2024, and ending May 13, 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.
We care about Aflac’s policyholders affected by recent weather:
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.
We care about Aflac’s policyholders affected by recent weather:
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 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.
AFLAC Incorporated
For the year, total revenues were $9.7 billion. Net earnings were $687 million, or $2.52 per diluted share, compared with $571 million, or $2.07 per share in 1999. Comparisons of net earnings were affected by unusual items in both years. In 2000, net earnings included a one-time benefit of $99 million, or $.36 per diluted share, related to the termination of a retirement liability and realized investment losses of $69 million, or $.25 per diluted share. 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. Net earnings in 1999 also included a charge of $41 million, or $.15 per diluted share, for AFLAC's required contribution to the policyholder protection fund in Japan. Operating earnings, which exclude the above- mentioned items, rose to $657 million or $2.41 per diluted share in 2000, compared with $550 million, or $2.00 per share, in 1999. Excluding the impact of foreign currency translation, operating earnings per share rose 17.5%, surpassing the 17% target that we had established for the year.
The board of directors declared the first quarter cash dividend of $.085 (eight and a half cents) per share. The dividend is payable on March 1, 2001, to shareholders of record at the close of business on February 15, 2001.
Commenting on the company's fourth quarter and full year results, President and Chief Executive Officer Daniel P. Amos stated: "We are very pleased with AFLAC's sales and financial performance in 2000. AFLAC U.S. extended the tremendous momentum it established several years ago and produced outstanding results. Our U.S. sales rose 28.3% for the year to a record $712 million, and our top-line growth accelerated. AFLAC Japan also performed well. Sales in Japan increased 14.6% for the year, and our financial results were solid. We are especially proud of our accomplishments in Japan considering the prolonged weakness in the economy. We are also satisfied that our extensive preparation for deregulation has prepared us for a more competitive market for supplemental insurance products in Japan.
"As we look ahead, we are optimistic about our prospects for continued strong growth. AFLAC operates in the two largest life insurance markets in the world, and we believe that they are also the best markets for AFLAC's products. We estimate there are tens of millions of workers in Japan and the United States who are potential AFLAC customers. And with a growing distribution system, increased brand awareness and high quality insurance products, we believe we are in a great position to tap into that potential. Our strong position in these two markets is why we are also optimistic about achieving the 15% to 17% targets we have set for operating earnings per share growth in 2001 and 2002 excluding the impact of currency fluctuations. Based on our leading market position and continued momentum, we expect to achieve the high end of our earnings per share objective in 2001."
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 170,000 payroll accounts. The company is also the largest foreign insurer in Japan, insuring one out of four Japanese households. In January 2001, AFLAC was included in Fortune magazine's list of "100 Best Companies to Work For in America" for the third consecutive year. AFLAC's Internet address is aflac.com.
AFLAC Incorporated will webcast a fourth-quarter analyst presentation on the investor relations page of aflac.com at 7:10 p.m. (EST), Tuesday, January 30.
AFLAC INCORPORATED AND SUBSIDIARIES CONSOLIDATED SUMMARY OF EARNINGS
(UNAUDITED -- IN MILLIONS, EXCEPT FOR PER-SHARE AMOUNTS)
THREE MONTHS ENDED DECEMBER 31, 2000 1999 % Change
Total revenues $2,488 $2,365 5.2%
Operating earnings* 168 145 15.9
Operating earnings per
share (basic)* .63 .54 16.7
Operating earnings per
share (diluted)* .62 .53 17.0
Net earnings 166 102 63.2
Net earnings per share (basic) .63 .38 65.8
Net earnings per share (diluted) .61 .37 64.9
Cash dividends paid per share $.085 $.075 13.3%
Shares used to compute earnings
per share (000):
Basic 264,959 265,983 (.4)%
Diluted 272,929 274,461 (.6)
TWELVE MONTHS ENDED DECEMBER 31,
Total revenues $9,720 $8,640 12.5%
Operating earnings ** 657 550 19.4
Operating earnings per
share (basic) ** 2.47 2.07 19.3
Operating earnings per
share (diluted) ** 2.41 2.00 20.5
Net earnings 687 571 20.3
Net earnings per share (basic) 2.59 2.15 20.5
Net earnings per share (diluted) 2.52 2.07 21.7
Cash dividends paid per share $.33 $.29 13.8%
Shares used to compute earnings
per share (000):
Basic 265,303 265,869 (.2)%
Diluted 272,453 275,423 (1.1)
* Excludes realized investment gains/losses in both periods, and in
1999, a charge of $41 million ($.15 per diluted share) for a
contribution to the policyholder protection fund in Japan.
** 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 and a charge of $41 million ($.15 per diluted
share) for a contribution to the policyholder protection fund in
Japan.
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, option 3, 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: Kenneth S. Janke Jr., 800-235-2667, option 3, or fax,
706-324-6330, or
706-596-3789, or fax, 706-323-1448, or
Incorporated
Website: http://www.aflac.com/
