Aflac Incorporated's Stock Analysis

Aflac Completes $2 Billion in Trust Securities Issuance

Aflac Incorporated has completed the issuance and sale of 1,000,000 Pre-Capitalized Trust Securities from two Delaware statutory trusts, Wynnton Funding Trust and Wynnton Funding Trust II, totaling $2 billion. The 2035 Trust issued securities redeemable on August 15, 2035, while the 2055 Trust issued redeemable securities on August 15, 2055. The arrangement includes a facility fee of 0.9875% per annum for the 2035 P-Caps and 1.1218% for the 2055 P-Caps, allowing Aflac to issue up to $1 billion of Senior Notes due in 2035 and 2055 respectively over specified periods.

The proceeds from this issuance will be invested in U.S. Treasury securities. Aflac is obligated to pay a semi-annual facility fee based on the unexercised portion of the Issuance Right, which can be exercised automatically under certain conditions, including failure to pay fees or a decline in net worth below $10 billion. The company may also redeem the Senior Notes at its discretion, impacting the timing and conditions under which the Trust Securities are redeemed.

Aug 27, 2025 16:32:08

Aflac Reports Second Quarter Earnings and Dividend Declaration

Aflac Incorporated reported its second quarter financial results for 2025, revealing total revenues of $4.2 billion, a decline from $5.1 billion in the same period last year. Net earnings were $599 million, or $1.11 per diluted share, down from $1.8 billion, or $3.10 per share a year ago, largely due to net investment losses of $421 million this quarter compared to gains of $696 million last year. The company’s adjusted earnings were $957 million, a decrease of 7.5% year-over-year, with adjusted earnings per diluted share falling by 2.7% to $1.78. Shareholders’ equity stood at $27.2 billion, up from $26.0 billion a year ago, despite net unrealized losses on investment securities and derivatives totaling $1.8 billion at the end of the quarter.

The board of directors declared a third quarter dividend of $0.58 per share, payable on September 2, 2025. Aflac Japan reported a 4.8% decrease in net earned premiums in yen, while Aflac U.S. saw a 3.4% increase in net earned premiums. Overall, total new annualized premium sales in Japan increased by 23.2%, driven by the introduction of a new cancer insurance product. The company repurchased $829 million in shares during the quarter and had 30.9 million shares remaining authorized for repurchase, indicating a commitment to returning capital to shareholders.

Aug 05, 2025 16:09:16

Aflac Reports Significant Decline in First Quarter Earnings

Aflac Incorporated announced its first quarter results for 2025, reporting net earnings of $29 million, a stark decrease from $1.9 billion in the same quarter of 2024. The total revenues for the quarter were $3.4 billion, down from $5.4 billion a year earlier, primarily due to net investment losses of $963 million compared to gains of $951 million in the previous year. Adjusted earnings were $906 million, reflecting a 5.7% decrease from the prior year, with adjusted earnings per diluted share remaining flat at $1.66. The company's shareholders' equity increased to $26.3 billion, or $48.55 per share, compared to $23.5 billion, or $41.27 per share, a year ago, largely due to changes in discount rate assumptions on insurance reserves.

In its Japan segment, Aflac reported a 5.0% decline in net earned premiums in yen terms, primarily due to specific internal transactions and policies reaching paid-up status. Adjusted net investment income also decreased by 7.6%. Conversely, net earned premiums in the U.S. increased by 1.8%, driven by improved sales and persistency. The board declared a second quarter dividend of $0.58 per share, payable on June 2, 2025. Additionally, Aflac repurchased $900 million worth of its common shares in the first quarter, with 38.8 million shares remaining authorized for repurchase.

Apr 30, 2025 16:43:17

Aflac Reports $1.9 Billion Net Earnings for Fourth Quarter

Aflac Incorporated reported a significant increase in net earnings for the fourth quarter of 2024, totaling $1.9 billion, compared to $268 million in the same quarter of 2023. Total revenues also rose to $5.4 billion, marking a 43.1% increase year-over-year. The company experienced net investment gains of $1.0 billion during the quarter, which contributed to the overall positive financial performance. Additionally, Aflac announced a 16% increase in its first quarter dividend, reflecting its commitment to returning value to shareholders.

On the downside, Aflac Japan saw a decline in net earned premiums in yen terms, dropping 5.4% for the quarter and 6.9% for the full year. The U.S. segment also faced challenges, with a 4.5% decrease in sales during the fourth quarter, attributed to a focus on more profitable growth and lower sales of group voluntary benefit products. Furthermore, the weaker yen/dollar exchange rate negatively impacted adjusted earnings per share by $0.01, highlighting the ongoing effects of currency fluctuations on the company's financial results.

Feb 05, 2025 17:22:25

Aflac Incorporated Reports Third Quarter Financial Results

Aflac Incorporated reported a significant decline in total revenues for the third quarter of 2024, down to $2.9 billion from $5.0 billion a year prior. The company experienced net losses of $93 million, a stark contrast to the $1.6 billion in earnings reported in the same quarter last year. This downturn was largely attributed to increased foreign exchange-related losses due to the strengthening of the yen. However, adjusted earnings increased by 10.6% to $1.2 billion, with adjusted earnings per share rising 17.4% to $2.16. Shareholders’ equity also improved, reaching $24.8 billion, compared to $22.7 billion a year earlier, and the company declared a fourth-quarter cash dividend of $0.50 per share, representing a 19% increase from the previous year.

On the negative side, Aflac Japan reported a decrease in net earned premiums in yen terms by 10.5%, primarily due to various factors including changes in deferred profit liability and internal cancer reinsurance transactions. In dollar terms, net earned premiums for Aflac Japan fell 13.4% to $1.7 billion. The U.S. segment also faced challenges, with pretax adjusted earnings down 26.8% compared to the prior year, despite a 2.8% increase in net earned premiums. Overall, while adjusted earnings showed some growth, the substantial net losses and declines in premium revenues highlight ongoing challenges for the company.

Oct 30, 2024 16:20:09

Aflac Reports Strong Earnings and Dividend Increase for Q2

Aflac Incorporated announced second quarter net earnings of $1.8 billion, up from $1.6 billion last year, driven by significant investment gains. Total revenues slightly decreased to $5.1 billion. Adjusted earnings rose 8.5%, and the company declared a cash dividend for the third quarter. However, net earned premiums in Japan fell 5.7%, and the weaker yen negatively impacted earnings. Overall, Aflac's shareholders' equity increased significantly, reflecting strong financial health despite some challenges in the Japan segment.

Jul 31, 2024 17:08:13

Aflac Inc. Reports Strong Q1 Earnings and Dividend Declaration

Aflac Inc. reported a significant increase in net earnings to $1.9 billion for Q1 2024, with total revenues reaching $5.4 billion. The company declared a $0.50 per share dividend for the second quarter. While Aflac Japan saw a decrease in net earned premiums, Aflac U.S. experienced growth in premiums and earnings. The company remains focused on profitable growth strategies and shareholder value, with a strong emphasis on disciplined underwriting and expense management. Aflac also repurchased $750 million in shares during the quarter.

May 01, 2024 16:30:39

Aflac Reports Fourth Quarter Results and Dividend Increase

Aflac's fourth quarter net earnings were $268 million, with a decrease in total revenues. A 19% increase in first quarter dividend was reiterated. Aflac Japan saw a decrease in net earned premiums in yen terms, while Aflac U.S. experienced an increase in net earned premiums. Aflac U.S. also reported a 10.9% decrease in pretax adjusted earnings for the quarter, but a 5.0% increase in total new sales for the full year.

Jan 31, 2024 16:23:57

Aflac Incorporated Announces Third Quarter Results and Sales Growth

Aflac Incorporated reported its third quarter results, with total revenues of $5.0 billion and net earnings of $1.6 billion. Adjusted earnings increased by 20.3% compared to the same quarter last year. Aflac Japan's net earned premiums decreased by 2.8% in yen terms, while Aflac U.S. net earned premiums increased by 3.2% in dollars. Total new annualized premium sales increased by 12.4% in yen and 16.6% in dollars. Aflac U.S. sales increased by 7.5% in the quarter.

Nov 01, 2023 16:14:49