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 )
Operating earnings, which exclude realized investment gains/losses and the impact of SFAS 133, were a record $202 million, compared with $177 million a year ago. On a per-share basis, operating earnings rose 15.2% to $.38 per diluted share, compared with $.33 per share in the second quarter of 2001. Excluding the negative impact of $.01 per share from the weaker yen to the dollar, operating earnings per share increased 18.2% for the quarter.
For the six months, total revenues were $4.9 billion. Net earnings were $395 million, or $.75 per diluted share, compared with $332 million, or $.61 per share, for the first six months of 2001. Operating earnings for the six months were $394 million, or $.74 per share, compared with $354 million, or $.66 per share, in 2001.
The board of directors declared the third quarter cash dividend of $.06 per share. The dividend is payable on September 3, 2002, to shareholders of record at the close of business on August 15, 2002.
Commenting on the company's second quarter results, Chairman and Chief Executive Officer Daniel P. Amos stated: "The performance of our operations in Japan and the United States so far this year has been very encouraging and rewarding. I am proud that AFLAC Japan produced better-than-expected sales in a challenging market for the second consecutive quarter. I believe our ability to quickly address and remedy the sales issues we faced last year speaks to the strength of our business in Japan. Furthermore, being recognized last month by a prestigious Japanese business publication, The Economist, as Japan's most reliable life insurer points to the overall quality of our organization and our position in the Japanese market. In addition, I am very pleased with the continued strong performance of AFLAC U.S. Despite increasingly difficult comparisons, AFLAC U.S. has generated rapid sales and revenue growth. AFLAC U.S. is playing a vital role in helping us meet the financial targets of AFLAC Incorporated.
"Even though the weaker yen has held down our reported rates of growth in the first half of the year, our financial results excluding the impact of currency translation have been strong. In looking ahead, we are confident we will achieve our full-year target of increasing operating earnings per share by 15% excluding the impact of foreign currency fluctuations. We also believe we are well positioned to meet our earnings per share objectives for 2003 and 2004 as well. We expect to achieve those goals by doing what we do best -- providing consumers with needed and affordable supplemental insurance products."
AFLAC Incorporated
AFLAC Incorporated will webcast its second quarter conference call on the investor relations page of aflac.com at 9:00 a.m. (EDT), Wednesday, July 24. A copy of AFLAC's second quarter report to shareholders and the second quarter statistical supplement to the Financial Analyst Briefing Book can also be found on the investor relations page of aflac.com.
AFLAC INCORPORATED AND SUBSIDIARIES CONSOLIDATED SUMMARY OF EARNINGS
(UNAUDITED -- IN MILLIONS, EXCEPT FOR SHARE AND PER-SHARE AMOUNTS)
THREE MONTHS ENDED JUNE 30, 2002 2001 % Change
Total revenues $2,513 $2,348 7.0%
Operating earnings * 202 177 13.9
Nonoperating items:
Realized investment gains
(losses), net of tax (3) (3)
SFAS 133, net of tax 13 (21)
Net earnings 212 153 38.5
Operating earnings per share -
diluted * .38 .33 15.2
Nonoperating items:
Realized investment gains
(losses), net of tax (.01) (.01)
SFAS 133, net of tax .03 (.04)
Net earnings per share - diluted .40 .28 42.9
Net earnings per share - basic .41 .29 41.4
Cash dividends paid per share .06 .05 20.0
Shares used to compute earnings
per share (000):
Basic 518,077 525,786 (1.5)
Diluted 529,606 539,151 (1.8)
SIX MONTHS ENDED JUNE 30,
Total revenues $4,884 $4,749 2.8%
Operating earnings * 394 354 11.3
Nonoperating items:
Realized investment gains
(losses), net of tax (8) (4)
SFAS 133, net of tax 9 (18)
Net earnings 395 332 19.2
Operating earnings per share
- diluted * .74 .66 12.1
Nonoperating items:
Realized investment gains
(losses), net of tax (.01) (.02)
SFAS 133, net of tax .02 (.03)
Net earnings per share - diluted .75 .61 23.0
Net earnings per share - basic .76 .63 20.6
Cash dividends paid per share .11 .093 18.3
Shares used to compute earnings
per share (000):
Basic 518,771 526,976 (1.6)
Diluted 529,613 540,453 (2.0)
* Excludes realized investment gains/losses and the impact of SFAS 133,
net of tax
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, orkjanke@aflac.com Media contact - Kathelen V. Spencer (706) 596-3789, FAX: (706) 323-1448, orkspencer@aflac.com
SOURCE: AFLAC Incorporated
CONTACT: media, Kathelen V. Spencer, +1-706-596-3789, or fax,
+1-706-323-1448, or
+1-800-235-2667 - option 3, or fax, +1-706-324-6330, or
both of AFLAC Incorporated
Web site: http://www.aflac.com/
