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Aflac Incorporated sells supplemental health and life insurance through businesses in Japan and the United States. Its news commonly covers earnings from Aflac Japan and Aflac U.S., sales trends in medical, cancer, life, accident, dental, vision, disability and long-term care products, and capital actions such as dividends and share repurchases.
Company updates also address worksite and group benefits, absence and paid-leave administration, reinsurance activity through Aflac Re Bermuda, and health-related initiatives tied to cancer screening and patient support. Product announcements in Japan include Anshin Palette medical insurance, Miraito cancer insurance and Tsumitasu life insurance, while U.S. updates focus on group voluntary benefits, network dental and vision, group life, disability and long-term care riders.
The 2020 Aflac Health Care Issues Survey revealed that rising medical costs amid the COVID-19 pandemic are forcing American families to prioritize health over holiday spending. Nearly 71% of families faced sacrifices during the holiday season due to medical expenses, with 23% spending less on gifts. The survey showed that 70% of families with children had significant out-of-pocket costs, rising from previous years, with 64% spending over $500. The ongoing financial burden raises concerns about health care coverage decisions, with many families expressing regret over their choices.
Aflac congratulates President-elect Joe Biden and Vice President-elect Kamala Harris on their election victory. The company emphasizes the importance of democracy, noting the historic voter turnout and the efforts of those who facilitated the process. Aflac expresses its commitment to collaborate with the new administration to tackle pressing issues such as pandemic recovery, economic revitalization, and health equity. The company highlights its role as a leading supplemental insurer, offering support to over 50 million people in the U.S. and Japan.
Aflac Incorporated (NYSE: AFL) announced a 17.9% increase in its first quarter dividend to $0.33 per share, payable on March 1, 2021. Shareholders of record at the close of business on February 17, 2021 will receive this dividend. CEO Daniel P. Amos emphasized the company’s commitment to maintaining strong capital ratios while rewarding shareholders and continuing its long-standing record of 38 consecutive years of dividend increases.
Aflac Incorporated (NYSE: AFL) will host its annual Financial Analysts Briefing on November 19, 2020, from 8:00 a.m. to 11:00 a.m. (ET). The event will cover Aflac's business operations in Japan and the United States, focusing on financial outlook and capital management strategies amid the COVID-19 pandemic. Interested participants need to register here. Presentation slides will be posted on investors.aflac.com after market close on November 18, 2020.
Aflac Incorporated (NYSE: AFL) has completed the acquisition of Zurich North America's U.S. Corporate Life and Pensions business, including the Benefit Harbor Insurance Services. This acquisition aligns with Aflac's buy-to-build strategy, promoting capital deployment into growth initiatives. The total transaction value is below $200 million, with expected annualized premium from in-force group life and disability policies at approximately $120 million. Aflac anticipates modest run-rate dilution in the near term, enhancing its value proposition and market opportunities.
Aflac recognized its top-12 employee volunteers for 2019, who logged over 16,450 hours of service to various charities. This marks a 7% increase in volunteer hours compared to 2018. Aflac has a long-standing tradition of community service, with 461 employees participating, a 2% rise from the previous year. Honorees will receive a customized sign in their yards and a donation to their chosen charity. Aflac emphasizes its commitment to corporate social responsibility, recently earning accolades as a 2020 goBeyondProfit Champion for its community engagement.
Aflac reported significant growth in its third quarter 2020 results, with total revenues rising to $5.7 billion, up from $5.5 billion in Q3 2019. Net earnings surged to $2.5 billion or $3.44 per diluted share, boosted by a $1.4 billion tax benefit. Adjusted earnings also increased 15.2% to $994 million. However, premium income in Japan and the U.S. declined 2.3% and 2.6%, respectively, due to COVID-19 impacts. The board declared a fourth-quarter dividend of $0.28 per share.
Aflac Incorporated (NYSE: AFL) is set to release its third quarter financial results on October 27, 2020, after market closure. Earnings materials will be accessible on the company's Investor Relations website. A conference call to discuss the results, featuring key executives including Chairman and CEO Daniel P. Amos, is scheduled for 9:00 a.m. (ET) on October 28, 2020. The discussion will cover the financial outlook amidst the ongoing COVID-19 pandemic.
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Aflac has released its 2019 Corporate Social Responsibility Report, celebrating 65 years of commitment to ethical business practices. The report highlights Aflac's initiatives in governance, workplace inclusivity, philanthropy, and environmental sustainability. Key achievements include a 64% representation of ethnic minorities and women on its board, a contribution of over $172 million to pediatric cancer support, and a 48% reduction in carbon emissions in Japan since 2004. Aflac aims to create a better future for its stakeholders while upholding its core values.