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 $210 million, compared with $184 million a year ago. On a per-share basis, operating earnings rose 17.6% to $.40 per diluted share, compared with $.34 per share in the third quarter of 2001. Excluding the benefit of $.01 per share from the stronger yen to the dollar in the quarter, operating earnings per share increased 14.7%.
For the nine months, total revenues were $7.6 billion. Net earnings were $635 million, or $1.20 per diluted share, compared with $525 million, or $.97 per share, for the first nine months of 2001. Operating earnings for the nine months were $604 million, or $1.14 per share, compared with $538 million, or $1.00 per share, in 2001. Excluding the $.02 per share negative impact from the weaker yen, operating earnings per diluted share rose 16.0% during the first nine months of the year.
The board of directors declared the fourth quarter cash dividend of $.06 per share. The dividend is payable on December 2, 2002, to shareholders of record at the close of business on November 14, 2002.
Commenting on the company's third quarter results, Chairman and Chief Executive Officer Daniel P. Amos stated: "I am very gratified by the performance of AFLAC Japan and AFLAC U.S. this year. AFLAC Japan has met the many challenges of operating in a weak economic environment and produced strong operating results. In particular, I am very pleased that AFLAC Japan's new sales recovered so quickly and have exceeded our expectations so far this year. At the same time, AFLAC U.S. has continued to build on its momentum by producing rapid growth of new sales and impressive gains in revenues and pretax operating earnings.
"As we look to the remainder of 2002 and beyond, we are excited about our opportunities for continued strong growth. We believe AFLAC is well positioned in the two largest insurance markets in the world. There are tens of millions of people in Japan who are potential customers of AFLAC's supplemental products. And the United States is a vast and underpenetrated market for the types of coverage we offer at the worksite. By continuing to tap into that potential, I am confident that 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 will meet our previously stated earnings per share objectives for 2003 and 2004."
AFLAC Incorporated is an international holding company. A Fortune 500® company, AFLAC insures more than 40 million people worldwide. It is a leading writer of insurance products marketed at the worksite in the United States, offering policies to employees at more than 236,400 payroll accounts. The company is also the largest foreign life insurer in Japan in terms of profits, insuring one out of four Japanese households. In January 2002, AFLAC was the number one insurance company in Fortune magazine's list of "The 100 Best Companies to Work for in America" and was included in the overall listing for the fourth consecutive year. In February 2002, Fortune also named AFLAC as the sixth most admired company in the life and health insurance sector in its annual listing of "America's Most Admired Companies." And in July 2002, Fortune named AFLAC to its list of "America's 50 Best Companies for Minorities." AFLAC's Internet address is aflac.com.
A copy of AFLAC's Third Quarter Report to Shareholders and the third quarter statistical supplement to the Financial Analyst Briefing Book can be found on the investor relations page of aflac.com.
AFLAC Incorporated will webcast its third quarter conference call on the investor relations page of aflac.com at 9:00 a.m. (EDT), Wednesday, October 23.
AFLAC INCORPORATED AND SUBSIDIARIES CONSOLIDATED SUMMARY OF EARNINGS (UNAUDITED -- IN MILLIONS, EXCEPT FOR SHARE AND PER-SHARE AMOUNTS)
THREE MONTHS ENDED SEPTEMBER 30, 2002 2001 % Change
Total revenues $2,707 $2,446 10.7%
Operating earnings * 210 184 14.2
Nonoperating items:
Realized investment gains (losses), net of tax (3) (28)
SFAS 133, net of tax 33 37
Net earnings 240 193 24.0
Operating earnings per share - diluted * .40 .34 17.6
Nonoperating items:
Realized investment gains (losses), net of tax (.01) (.05)
SFAS 133, net of tax .06 .07
Net earnings per share - diluted .45 .36 25.0
Net earnings per share - basic .46 .37 24.3
Cash dividends paid per share .06 .05 20.0
Shares used to compute earnings per share (000):
Basic 516,984 524,266 (1.4)
Diluted 527,908 536,043 (1.5)
NINE MONTHS ENDED SEPTEMBER 30,
Total revenues $7,591 $7,194 5.5%
Operating earnings * 604 538 12.3
Nonoperating items:
Realized investment gains (losses), net of tax (11) (32)
SFAS 133, net of tax 42 19
Net earnings 635 525 20.9
Operating earnings per share - diluted * 1.14 1.00 14.0
Nonoperating items:
Realized investment gains (losses), net of tax (.02) (.06)
SFAS 133, net of tax .08 .03
Net earnings per share - diluted 1.20 .97 23.7
Net earnings per share - basic 1.22 1.00 22.0
Cash dividends paid per share .17 .143 18.9
Shares used to compute earnings per share (000):
Basic 518,169 526,063 (1.5)
Diluted 529,038 538,973 (1.8)
*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: 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
Incorporated
Web site: http://www.aflac.com/
