Aflac Inc Stock Price, News & Analysis

Aflac has appointed JR Shamley as Senior Vice President, National Account Business Development and Growth Solutions. With over 30 years of experience in group insurance, Shamley joins from Aon where he served as Senior Vice President, Time Away and Life Solutions Practice Leader. In his new role, he will focus on aligning distribution and business strategies to drive profitable growth in the national accounts segment, which serves employers with 5,000+ covered lives. Previously, Shamley held senior positions at Prudential, AIG, and Hartford, bringing extensive experience in consulting for large employers and developing group benefits marketplace solutions.

Aflac Incorporated announced key leadership promotions effective January 1, 2025. Virgil R. Miller has been promoted to president of Aflac Incorporated while retaining his role as president of Aflac U.S. His expanded responsibilities include supporting profitable growth initiatives, advancing digital capabilities, and managing product evolution. Additionally, Audrey Boone Tillman and Max K. Brodén have been elevated to senior executive vice president positions. Tillman oversees Compliance, Government Relations, and Sustainability efforts, while Brodén leads corporate development, financial operations, and global investments. All executives will continue reporting to Chairman and CEO Daniel P. Amos.

Aflac Incorporated reported third quarter 2024 results with total revenues of $2.9 billion, a decline from $5.0 billion in Q3 2023. The company posted net losses of $93 million ($0.17 per diluted share) compared to earnings of $1.6 billion ($2.64 per diluted share) a year ago, primarily due to foreign exchange-related losses from yen strengthening by 12.9%.

Net investment losses were $1.4 billion, driven by losses on derivatives and foreign currency activities. However, adjusted earnings increased by 10.6% to $1.2 billion, with adjusted EPS rising 17.4% to $2.16.

Shareholders' equity grew to $24.8 billion ($44.60 per share) from $22.7 billion ($38.63 per share) a year ago. Aflac declared a fourth quarter dividend of $0.50 per share and repurchased $500 million in common shares.

In Japan, net earned premiums in yen fell 10.5%, while in the U.S., net earned premiums increased 2.8%. The company emphasized continued focus on profitable growth in both markets.

Aflac has won the 2024 CSO Award for its 'Quackcess Granted' Passkey Authentication Initiative, powered by Transmit Security. The project implemented passkey authentication as a secure alternative to traditional passwords, achieving a 96% login success rate and 32% adoption rate among policyholders, surpassing the initial 10% target. Over 265,000 Aflac policyholders have enrolled in the program, with no reported login failures and minimal technical support needs. The initiative, built on FIDO standards, allows customers to sync biometric credentials across devices through cloud technology, eliminating passwords and outdated multi-factor authentication methods.

According to the 2024 Aflac Wellness Matters Survey, 3 in 5 Americans have avoided recommended health screenings. The survey reveals that cancer patients were more likely to have avoided screenings, though 56% of diagnoses came from routine exams. Aflac employees shared personal experiences highlighting the importance of regular screenings, particularly regarding skin cancer detection. Multiple cases demonstrated how routine check-ups led to early detection and successful treatment of melanoma and other skin cancers, emphasizing the critical role of preventive care and regular wellness appointments.

In September, My Special Aflac Duck® visited New York City, bringing joy to pediatric cancer and sickle cell patients at The Children's Hospital at Montefiore Einstein. Aflac partnered with Sunrise Day Camp to provide fun activities for children and families. My Special Aflac Duck is a social robot that helps kids prepare for medical procedures and communicate their feelings.

A recent study showed reduced distress, nausea, pain, and anxiety in children who received the duck. Since 2018, Aflac has distributed over 32,000 ducks free of charge to patients aged 3 and up. This program is part of Aflac's $184 million contribution to pediatric cancer and blood disorder research and programs. Health care providers and families can order the duck for free at MySpecialAflacDuck.com.

Aflac's philanthropic mission focuses on supporting childhood cancer and sickle cell patients. Over nearly three decades, the company has donated more than $184 million and delivered over 32,000 My Special Aflac Ducks to pediatric patients. The annual 'Bridge to Brighter' initiative, launched in September 2023, aims to raise awareness about these illnesses.

This year's campaign includes news anchors wearing burgundy and gold ribbons, celebrity partnerships, and the first official My Special Aflac Duck delivery event in New York City. The initiative also provides resources for supporters, including tips on offering help, donation options, and pre-made social media posts. Aflac encourages public participation in building a bridge to a brighter future for those facing cancer and blood disorders through their website Aflac.com/BridgeToBrighter.

Aflac Incorporated (NYSE: AFL) has announced the release of its third quarter 2024 financial results after market close on October 30, 2024. The company will make available its quarterly earnings release, financial supplement, and a financial update video from CFO Max Brodén on its Investor Relations website.

Additionally, Aflac will host a webcast conference call on October 31, 2024, at 8:00 a.m. (ET). During this call, Chairman, CEO, and President Daniel P. Amos, along with CFO Max Brodén, will discuss the quarterly results and outlook. They will also answer questions with other executive management members from the U.S. and Japan.

Interested parties can register for the webcast at investors.aflac.com five to seven minutes before the scheduled start time.

Aflac and Prudential Financial conducted dual studies on the impact of paid leave in the workplace, revealing significant stress on employees covering for absent coworkers. Key findings include:

• 73% of workers experienced stress and anxiety while covering for a coworker on leave
• 42% experienced burnout when covering for leaves extending beyond 9 weeks
• 48% of employers have seen an increase in employee leaves in the past 12 months
• 94% of employers report taking action to support employees covering for coworkers, but only 74% of employees acknowledge this

The studies highlight the need for effective communication and recognition to support employees maintaining business continuity during coworkers' absences. Employers are encouraged to evaluate their work environment and implement strategies to preserve employee well-being while managing increased leaves.