By Sabela Ojea
Aflac logged higher revenue in the fourth quarter and said it is seeing a recovery in net earned premiums in the U.S.
The insurance company on Wednesday posted a net profit of $1.9 billion, or $3.42 a share, compared with $268 million, or 46 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast per-share earnings of $1.60.
Stripping out one-time items, the company's earnings per share came in at $1.57.
Revenue surged 43%, to $5.4 billion, with net earned premiums in the U.S. rising 2.7%, to $1.4 billion.
Regarding its performance in the U.S., Chief Executive Daniel Amos said that, while Aflac's sales were lower in the fourth quarter as it focuses on more profitable growth through our stronger underwriting discipline, the company is seeing improvement in net earnings premiums.
Overall, Aflac continues to follow its prudent approach to expense management, Amos added.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
February 05, 2025 16:35 ET (21:35 GMT)
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