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 $193 million, or $.36 per diluted share, compared with $163 million, or $.30 per share, a year ago. Third quarter net earnings reflected a gain of $37 million, or $.07 per share, from the change in fair value of the foreign exchange and interest rate swaps related to the company's debt as required by SFAS 133. Net earnings also reflected realized investment losses of $28 million, or $.05 per diluted share, which primarily resulted from the impairment of the company's investment in two human resource service companies. Total revenues in the third quarter were $2.4 billion.
For the nine months, total revenues were $7.2 billion. Operating earnings for the nine months were $538 million, or $1.00 per share, compared with $489 million, or $.90 per share, in 2000. Net earnings were $525 million, or $.97 per diluted share, compared with $521 million, or $.96 per share, for the first nine months of 2000. In addition to the previously mentioned items that affected third quarter 2001 net earnings, nine-month comparisons of net earnings were affected by two items in 2000: 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 $66 million, or $.12 per diluted share.
Commenting on the company's third quarter results, Chairman and Chief Executive Officer Daniel P. Amos stated: "We are pleased with AFLAC's financial performance for the third quarter and for the first nine months of the year. Despite weakness in AFLAC Japan's sales this year, we have retained our market position as the leading supplemental insurer in Japan. At the same time, AFLAC U.S. has continued to capitalize on the momentum of its business and produce strong sales and financial results. We believe there is a substantial market for affordable supplemental insurance products in both countries. And with the many competitive strengths we bring to the market, including our distribution, efficiency and customer service, we believe we are well positioned to take advantage of the potential in the United States and Japan.
"Although translating a weaker yen into dollars has suppressed our reported rates of growth this year, our performance excluding the impact of currency translation has been strong. We once again achieved our primary financial objective of increasing operating earnings per share by 15% to 17% excluding the impact of foreign currency fluctuations. As we look ahead, we believe that AFLAC is well positioned for continued growth. Our objective for 2002 and 2003 is to increase earnings per share growth in the 15% to 17% range excluding currency fluctuations. We believe we will achieve those goals by providing consumers with the best supplemental insurance value in the marketplace."
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 195,000 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. 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 third quarter conference call on the investor information page of aflac.com at 9:00 a.m. (EDT), Thursday, October 25.
AFLAC INCORPORATED AND SUBSIDIARIES CONSOLIDATED SUMMARY OF EARNINGS
(UNAUDITED -- IN MILLIONS, EXCEPT FOR SHARE AND PER-SHARE AMOUNTS)
THREE MONTHS ENDED SEPTEMBER 30, 2001 2000 % Change
Total revenues $2,446 $2,472 (1.1)%
Operating earnings * 184 169 8.9
Operating earnings per share
(basic) *.35 .32 9.4
Operating earnings per share
(diluted) * .34 .31 9.7
Net earnings 193 163 18.6
Net earnings per share (basic) .37 .31 19.4
Net earnings per share (diluted) .36 .30 20.0
Cash dividends paid per share .05 .043 16.3
Shares used to compute earnings
per share (000):
Basic 524,266 530,180 (1.1)
Diluted 536,043 544,392 (1.5)
NINE MONTHS ENDED SEPTEMBER 30,
Total revenues $7,194 $7,224 (.4)%
Operating earnings * 538 489 10.1
Operating earnings per share
(basic) *1.02 .92 10.9
Operating earnings per share
(diluted) * 1.00 .90 11.1
Net earnings 525 521 .7
Net earnings per share (basic) 1.00 .98 2.0
Net earnings per share (diluted) .97 .96 1.0
Cash dividends paid per share .143 .124 15.3
Shares used to compute earnings
per share (000):
Basic 526,063 530,838 (.9)
Diluted 538,973 544,590 (1.0)
*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 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/
