Aflac Surpasses Quarterly Profit Estimates Driven by Increased U.S. Premiums, Reports Reuters

Aflac, the life and health insurer, reported its second-quarter profits exceeding analysts’ expectations, boosted by increased premiums in its U.S. division. For the quarter ending June 30, the U.S. unit generated net premiums of $1.5 billion, reflecting a 2.1% increase from the previous year.

In terms of net earnings, the company achieved $1.76 billion in the second quarter, up from $1.63 billion a year earlier. When adjusted, Aflac reported a quarterly earnings per share of $1.83, surpassing the average analyst estimate of $1.60.

The launch of new products, including a nursing care coverage feature, has positively influenced sales, contributing to a 4.5% rise in sales in its Japanese unit during the quarter. However, Aflac did not provide guidance on sales forecasts for either its U.S. or Japanese operations.

In Japan, the company reported net premiums of 267.3 billion yen (approximately $1.78 billion), which marked a decline of 5.7%, attributed to reinsurance impacts and paid-up policies.