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
(Photo: http://www.newscom.com/cgi-bin/prnh/20010525/AFLACLOGO )
Net earnings were $153 million, or $.28 per diluted share, compared with $202 million, or $.37 per share, a year ago. Second quarter net earnings reflected a loss of $21 million, or $.04 per share, from the change in fair value of the foreign exchange and interest rate swaps related to the company's debt at the end of the quarter. Net earnings in the second quarter of 2000 included a one-time benefit of $99 million, or $.18 per diluted share, related to the termination of a retirement liability, and realized investment losses of $58 million, or $.11 per diluted share. Total revenues in the second quarter were $2.3 billion.
For the six months, total revenues were $4.7 billion. Operating earnings for the six months were $354 million, or $.66 per share, compared with $320 million, or $.59 per share, in 2000. Net earnings were $332 million, or $.61 per diluted share, compared with $358 million, or $.66 per share, for the first six months of 2000. Six-month comparisons of net earnings were affected by the previously mentioned second-quarter items.
The board of directors declared the third quarter cash dividend of $.05 per share. The dividend is payable on September 4, 2001, to shareholders of record at the close of business on August 16, 2001.
Commenting on the company's second quarter results, Chairman and Chief Executive Officer, Daniel P. Amos, stated: "We were pleased that AFLAC produced strong financial results in the second quarter, excluding currency translation. AFLAC U.S. continued to extend its record of rapid growth, with sales greatly exceeding our expectations, and that was reflected in accelerating U.S. revenue growth. Although AFLAC Japan's new premium sales were below our expectations, our growth in revenue and earnings in yen terms was solid. And we believe we are proceeding in the right direction to help improve AFLAC Japan's sales and extend its market leadership. Due to the strength of our operations, we believe we are well positioned to achieve our objective for the year of increasing operating earnings per diluted share at the high end of our 15% to 17% growth range excluding the impact of foreign currency translation. At the same time, we are optimistic that we will also achieve our targets of 15% to 17% growth in operating earnings per share before currency translation in 2002 and 2003."
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 187,600 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. In February 2001, Fortune magazine also named AFLAC as the fifth most admired company in the life and health insurance sector in its annual listing of "America's Most Admired Companies." 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 25.
AFLAC INCORPORATED AND SUBSIDIARIES CONSOLIDATED SUMMARY OF EARNINGS
(UNAUDITED -- IN MILLIONS, EXCEPT FOR SHARE AND PER-SHARE AMOUNTS)
THREE MONTHS ENDED JUNE 30, 2001 2000 % Change
Total revenues $2,348 $2,355 (.3)%
Operating earnings * 177 161 10.2
Operating earnings per share (basic) * .34 .30 13.3
Operating earnings per share (diluted) * .33 .30 10.0
Net earnings 153 202 (24.0)
Net earnings per share (basic) .29 .38 (23.7)
Net earnings per share (diluted) .28 .37 (24.3)
Cash dividends paid per share .05 .043 16.3
Shares used to compute
earnings per share (000):
Basic 525,786 531,143 (1.0)
Diluted 539,151 544,861 (1.0)
SIX MONTHS ENDED JUNE 30,
Total revenues $4,749 $4,752 (.1)%
Operating earnings * 354 320 10.8
Operating earnings per share (basic) * .67 .60 11.7
Operating earnings per share (diluted) * .66 .59 11.9
Net earnings 332 358 (7.4)
Net earnings per share (basic) .63 .67 (6.0)
Net earnings per share (diluted) .61 .66 (7.6)
Cash dividends paid per share .093 .081 14.8
Shares used to compute
earnings per share (000):
Basic 526,976 531,171 (.8)
Diluted 540,453 544,692 (.8)
*Excludes realized investment gains/losses, the impact of SFAS 133 and in the second quarter of 2000, the termination of a retirement liability.
Share and per-share amounts have been adjusted to reflect the two-for-one stock split paid on March 16, 2001.
Certain reclassifications have been made to prior period amounts to conform to current period reporting classifications. These reclassifications had no impact on operating or net earnings.
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 Securities and Exchange Commission, 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 or accounting requirements, 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, or
Media contact - Kathelen V. Spencer, (706) 596-3789, FAX: (706) 323-1448, or
SOURCE: AFLAC Incorporated
Contact: investors, Kenneth S. Janke Jr., +1-800-235-2667, option 3, or
fax, +1-706-324-6330, or
+1-706-596-3789, or fax, +1-706-323-1448, or
AFLAC Incorporated
Website: http://www.aflac.com/
