Might 1 (Reuters) – Insurance coverage supplier Aflac
reported first-quarter revenue above analysts’ estimates on
Wednesday, helped by improved premiums earned within the United
States.
Aflac’s shares rose 1.42% in prolonged buying and selling.
Its U.S. unit earned internet premiums of $1.5 billion for the
quarter ended March 31, up 3.3% from a 12 months earlier.
Web earnings within the first quarter got here in at $1.9 billion,
in contrast with $1.18 billion a 12 months earlier.
On an adjusted foundation, the Georgia-based firm reported a
quarterly per share revenue of $1.66, topping analysts’ common
estimate of $1.58 per share, based on LSEG information.
In accordance with Jefferies analyst Suneet Kamath, long-term
rates of interest will stay excessive for longer, serving to life sector
insurers pivot to development in 2024.
The corporate lowered its 2026 gross sales expectations for its
Japan enterprise in February, owing to slower gross sales restoration.
Nevertheless, Aflac didn’t present commentary for its Japan
enterprise’s 2026 gross sales forecast this quarter.
Improved internet premiums earned in its U.S. companies partly
contributed to Aflac’s general internet premiums.
(Reporting by Sruthi Narasimha Chari and Pratik Jain in
Bengaluru; Enhancing by Pooja Desai)
