Aflac first-quarter profits grow 10.9%

Aflac Inc.’s net income increased 10.9% in the first quarter, despite lagging sales in Japan, the Columbus, Ga.-based insurance company reported.
APR 25, 2007
Aflac Inc.’s net income increased 10.9% in the first quarter, despite lagging sales in Japan, the Columbus, Ga.-based insurance company reported. Aflac posted net income of $416 million on $3.8 billion in revenues, compared with net income of $375 million on $3.6 billion in revenues in the first quarter of 2006. First-quarter earnings rose 13.5 percent to 84 cents a share. Operating earnings in the first quarter were $407 million, compared with $364 million in the first quarter of 2006. Aflac Japan's total new annualized premium sales decreased 10.6 percent to $221 million in the first quarter, but total revenues rose 5.7%. "Overall, we are pleased with Aflac's results for the first quarter of 2007 and with our outlook for the remainder of the year, said chairman and chief executive Daniel P. Amos. "Although Japan remains a challenging market from a sales perspective, Aflac Japan's financial results continue to reflect the many attractive attributes of our business.

Latest News

Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale
Stratos Wealth Holdings closes 11 acquisitions in push for advisory scale

RIA aggregator adds $4.8 billion in client assets across seven states as demand grows for alternatives to traditional succession models.

Beyond wealth management: Why the future of advice is becoming more human
Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up
Shareholder sues FS KKR Capital board, alleges NAV and dividend cover-up

Shareholder targets FS KKR Capital's directors over alleged portfolio valuation and dividend missteps.

UBS loses $1.2 million arbitration claim linked to variable annuities and margin
UBS loses $1.2 million arbitration claim linked to variable annuities and margin

UBS has a history of costly litigation stemming from the sale of volatile investment products.

'We are monitoring the situation,' SEC says of private funds
'We are monitoring the situation,' SEC says of private funds

New director David Woodcock puts firms on notice over fees, conflicts, and liquidity risk as private credit shows signs of stress.

SPONSORED Beyond wealth management: Why the future of advice is becoming more human

As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management

SPONSORED Durability over scale: What actually defines a great advisory firm

Growth may get the headlines, but in my experience, longevity is earned through structure, culture, and discipline