Aflac beats estimates for quarterly profit on higher premium income

Aflac

01/11/2023 22:35

Nov 1 (Reuters) - Insurance provider Aflac  AFL.N  on
Wednesday reported third-quarter profit above estimates, helped
by higher premium revenue from its U.S. unit and strong gains on
its investments.
    Its U.S. unit earned net premiums of $1.4 billion for the
quarter, up 3.2% from year earlier. 
    Adjusted earnings for the quarter rose 20% to $1.1 billion.
    Net earnings totaled $1.6 billion, compared with $1.8
billion a year earlier. 
    On an adjusted basis, Aflac earned $1.84 per share in the
quarter, compared with analysts' estimates of $1.48 per share,
according to LSEG data.
    Aflac shares rose about 1.2% to $80 in extended trading.

 (Reporting by Pratik Jain in Bengaluru; Editing by Anil
D'Silva)
 ((Pratik.Jain@thomsonreuters.com;))