We are well-positioned in the two best insurance markets in the world and are working very hard to achieve our earnings-per-share objective while also ensuring we deliver on our promise to policyholders.”Īssurant Inc//Symbol: AIZ//Industry: Accident & Health Insurance: “In the first quarter, we continued to make significant progress in our multi-year transformation as demonstrated by the organic growth in our fee-based, capital-light businesses and increased operating efficiencies,” said Alan B.
and Japan, recognizing that the first quarter is typically more favorable than the rest of the year.
Additionally, we expect 2016 benefit ratios will continue to be strong in both the U.S. I would remind you that with interest rates at significantly depressed levels and a return to market volatility, it is difficult to invest cash flows at attractive yields while maintaining a prudent risk tolerance. If the yen averages ¥105 to ¥115 to the dollar for the second quarter, we would expect earnings in the second quarter to be approximately $1.55 to $1.82 per diluted share. “I want to reiterate that our annual objective is to produce operating earnings per diluted share of $6.17 to $6.41, assuming the 2015 average exchange rate of 120.99 yen to the dollar. This reinforces our plan to repurchase about $1.4 billion of our shares in 2016, with the majority concentrated in the first half of the year. Provided capital conditions remain stable, we believe our financial strength in Japan positions us to repatriate in the range of ¥120 to ¥150 billion to the U.S. “We remain committed to maintaining strong capital ratios on behalf of our policyholders and bondholders. sales target will be increasingly reliant on fourth quarter production. Keep in mind, we anticipate the achievement of our annual U.S. The increase in new annualized premium sales of 3.7% establishes a solid baseline for our expectation of a 3% to 5% growth rate for the U.S. We continue to believe that the changes we made to our career and broker management infrastructure have created a foundation for greater long-term growth opportunities. produced solid financial and sales results. We continue to believe the long-term compound annual growth rate for third sector products will be in the range of 4% to 6%. While it’s early in the year, we are running ahead of expectations for sales of third sector products as of the end of the first quarter.
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Although sales of Aflac Japan’s third sector products were up 1.0% in the quarter, you’ll recall we communicated in February that we anticipate sales of third sector products will be down mid-single digits for the full year following very robust production results in 2015. As we further implement various measures later in the quarter, we expect to see a sharp decline in first sector sales in the second half of the year. Sales of first sector products were elevated in the quarter, consistent with our expectations. Aflac Japan, our largest earnings contributor, generated solid financial results in yen terms for the quarter. Amos stated: “We are pleased with our overall financial results in the first quarter of 2016. Aflac Inc//Symbol: AFL//Industry: Accident & Health Insurance: Commenting on the company’s first quarter results, Chairman and Chief Executive Officer Daniel P.
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