/PRNewswire/ -- Aflac Incorporated today announced that its operations in Japan are up and running and ready to assist policyholders following the recent earthquake in the Tohoku area, which includes the cities of Sendai and Minami Sanriku. Aflac Japan's main offices, including the corporate offices in Tokyo and operational centers in both Tokyo and Osaka, are undamaged and fully functional.
Aflac Japan's employees are safe, and the company continues to reach out to their independent sales force to assess their needs. The Aflac leadership teams from both the U.S. and Japan remain in close contact.
While the hardest-hit areas were Iwate, Miyagi and Fukushima prefectures, less than 5% of Aflac Japan's new sales and in-force premiums are derived from these prefectures. Only two of Aflac Japan's 82 sales offices have been negatively impacted; these two offices, located in a single building in Sendai, have minimal damage, but will be closed temporarily due to power outages.
About this natural disaster, Aflac Japan President and Chief Operating Officer Tohru Tonoike commented: "First and foremost, our thoughts go out to all those affected here in Japan. We are very grateful none of our employees were injured. We are working with our sales force to ensure that we provide them with assistance and help them take care of our customers. We remain ready to respond to the needs of our policyholders by paying claims swiftly, and will prioritize our response to those in the affected areas. We successfully executed our disaster preparedness plan and as a result, our operations stand ready to serve our policyholders and claimants."
Aflac Incorporated Chairman and CEO Daniel P. Amos added: "In addition to sending our thoughts and prayers to each and every Japanese citizen, we want all of our Aflac Japan employees, sales agents and policyholders to know that your Aflac family here in the U.S. sends our support in every way possible. On Friday, we made an initial donation of 100 million yen to the International Red Cross to help with the start of the relief effort. Additionally, funds have been established by both our U.S. and Japanese employees and sales forces for our friends in Japan, including fellow employees and sales associates that have been most impacted by the disaster. Most importantly, we want our policyholders to know that we are here to deliver on our promise – we will be there when they need us most. Having operated in Japan for almost four decades, we know Japanese citizens are incredibly resilient and we want to help in any way possible as they work through this difficult time.
"As we look to the remainder of 2011, we expect Aflac Japan sales will only be minimally impacted by these events. Our earnings guidance for the year remains unchanged: we will likely be at the low end of the 8% to 12% range for operating earnings per diluted share growth in 2011, excluding the impact of currency."
FORWARD-LOOKING INFORMATION
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" to encourage companies to provide prospective information, so long as those informational statements are identified as forward-looking and are accompanied by meaningful cautionary statements identifying important factors that could cause actual results to differ materially from those included in the forward-looking statements. We desire to take advantage of these provisions. This document contains cautionary statements identifying important factors that could cause actual results to differ materially from those projected herein, and in any other statements made by Company officials in communications with the financial community and contained in documents filed with the Securities and Exchange Commission (SEC).
Forward-looking statements are not based on historical information and relate to future operations, strategies, financial results or other developments. Furthermore, forward-looking information is subject to numerous assumptions, risks and uncertainties. In particular, statements containing words such as "expect," "anticipate," "believe," "goal," "objective," "may," "should," "estimate," "intends," "projects," "will," "assumes," "potential," "target" or similar words as well as specific projections of future results, generally qualify as forward-looking. Aflac undertakes no obligation to update such forward-looking statements. We caution readers that the following factors, in addition to other factors mentioned from time to time, could cause actual results to differ materially from those contemplated by the forward-looking statements: difficult conditions in global capital markets and the economy; governmental actions for the purpose of stabilizing the financial markets; defaults and downgrades in certain securities in our investment portfolio; impairment of financial institutions; credit and other risks associated with Aflac's investment in perpetual securities; differing judgments applied to investment valuations; subjective determinations of amount of impairments taken on our investments; limited availability of acceptable yen-denominated investments; concentration of our investments in any particular sector; concentration of business in Japan; ongoing changes in our industry; exposure to significant financial and capital markets risk; fluctuations in foreign currency exchange rates; significant changes in investment yield rates; deviations in actual experience from pricing and reserving assumptions; subsidiaries' ability to pay dividends to Aflac Incorporated (the Parent Company); changes in law or regulation by governmental authorities; ability to attract and retain qualified sales associates and employees; decreases in our financial strength or debt ratings; ability to continue to develop and implement improvements in information technology systems; changes in U.S. and/or Japanese accounting standards; failure to comply with restrictions on patient privacy and information security; level and outcome of litigation; ability to effectively manage key executive succession; catastrophic events; and failure of internal controls or corporate governance policies and procedures.
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Monday, March 14, 2011
Aflac Japan Corporate Offices Fully Operational, Employees Sustained No Injuries, Expected Impact on Japan Sales Minimal; Aflac Incorporated Affirms 2011 Operating EPS Target
Wednesday, June 24, 2009
Aflac Lands on Black Enterprise Magazine's List of 40 Best Companies for Diversity
/PRNewswire/ -- Aflac today announced that the Georgia-based insurance provider has been named to Black Enterprise magazine's list of the Top 40 Best Companies for Diversity. It is the fifth consecutive year the company has been named to the prestigious list.
Aflac, with an employee base comprised of 40 percent minorities, and women accounting for more than half of the management team, will be listed in the magazine's July issue, appearing on newsstands on June 30. Nearly 70 percent of Aflac's overall workforce is women.
"Our commitment to diversity has created an environment where wide-ranging ideas have helped our company grow," Aflac chairman and CEO Dan Amos said. "We embrace the good fortune of a diverse workforce and are proud of this recognition by Black Enterprise's magazine."
According to the magazine, Aflac demonstrates strength and outperformed peers in three of four key categories, including diversity on the Board of Directors, employee base, senior management and supplier diversity. The 40 best companies for diversity were determined through a survey of major corporations coupled with comprehensive outreach to CEOs and diversity executives working at the top 1,000 publicly traded companies and diversity executives at the 50 leading global companies with strong U.S. operations.
Aflac is one of only three Georgia companies to appear on the 2009 list.
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Monday, April 20, 2009
Industry Analysts Rate Aflac's Investor Relations Best in the Insurance/Life Category
/PRNewswire/ -- Aflac announced today that Institutional Investor has named the Georgia-based insurance company as the best in the Insurance/Life category for investor relations (IR). Aflac received the top selection among publicly traded U.S. companies, chosen by more than 1,000 industry analysts representing both the sell-side and the buy-side of investment professionals.
According to Institutional Investor, both the buy-side and sell-side agree that the quality and transparency of companies' financial reporting and disclosure are paramount, but there are differences too. Buy siders -- with whom IR professionals concentrate much of their efforts -- care most about the quality and depth of the answers to their inquiries, while sell-siders want increased access to senior management.
"This honor speaks directly to the philosophy, accessibility and leadership of Aflac management," Sr. Vice President of Investor Relations Kenneth S. Janke Jr. said. "Our reputation is built upon providing information with openness and transparency regardless of the audience or economic situation. I am proud of our team and thankful for the validation of our efforts from more than 1,000 industry analysts."
"Although companies may be tempted to withdraw from shareholders during tough times, the best IR teams in the U.S. are actively engaging with their investors," said Tom Buerkle, Institutional Investor's executive editor. "Now more than ever, shareholders are looking for clear, up-to-date information from corporate executives."
To determine the leading companies for investor relations in the U.S., Institutional Investor surveyed two distinct audiences: (1) Sell-side analysts, and 2) Buy-side analysts and portfolio managers. This year's rankings were based on the opinions of 417 sell-side analysts and 656 buy-side individuals. Individuals were asked to nominate up to four companies for each attribute used to evaluate the effectiveness of investor relations communications -- six for the buy-side and 15 for the sell-side. They were also asked to nominate companies with the most improved IR communications over the past year. All voting was conducted on an unprompted basis.
For a more detailed look at the survey, including its methodology, please visit www.iimagazine.com.
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Tuesday, March 10, 2009
Aflac Lands on List of 100 Best Corporate Citizens
/PRNewswire-FirstCall/ -- Aflac Incorporated was named to Corporate Responsibility Officer (CRO) magazine's list of 100 Best Corporate Citizens for 2009. The survey ranks Russell 1000(R) companies on their performance in seven key areas: environment, climate change, human rights, philanthropy, employee relations, financial and governance. Aflac was tied for first place with several other companies under the category of corporate governance. The full list was announced on Friday, March 6, and will appear in the next issue of the magazine.
The 2009 100 Best Corporate Citizens List(R) methodology is based solely on publicly-available data, putting a premium on companies with high levels of public disclosure and transparency. All members of the Russell 1000 Index were considered for the honor.
"At Aflac we believe that transparency with shareholders and the public is good for business," Aflac Chairman and CEO Dan Amos said. "We are proud to receive this recognition, which focuses on our company's enthusiasm for disclosing information and demonstrating strong corporate ethics."
"In good times, checkbook citizenship can win the day. But in tough times, strong reputations and transparency pack as much punch as a strong balance sheet. In today's deep recession, human capital and financial capital seek safety -- and companies like Aflac that are on the 100 Best Corporate Citizens List(R) are today's safest harbors," said CRO magazine publisher Jay Whitehead.
The Russell 1000 Index measures the performance of the large-cap segment of the U.S. equity universe. It is a subset of the Russell 3000(R) Index and includes approximately 1000 of the largest securities based on a combination of their market cap and current index membership.
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Tuesday, February 24, 2009
Aflac Chairman & CEO Will Forgo 2008 Bonus of $2.8 Million
/PRNewswire/ -- Aflac, Inc. announced today that Daniel P. Amos, Chairman and Chief Executive Officer, has elected to forgo his 2008 bonus of $2.8 million that he earned based on achievement of operating performance measures. The board's compensation committee accepted his proposal recognizing that, although Aflac delivered a strong operating performance in 2008, it is not reflected in the company's stock price given the current turbulence in the stock markets.
In addition, Kriss Cloninger III, Aflac Incorporated President and Chief Financial Officer, voluntarily reduced his bonus by 35% or approximately $477,000.
"Even though Mr. Amos and Mr. Cloninger were entitled to their full operating bonuses -- and in 2008 Aflac outperformed the S&P 500, the S&P Life Index and the Dow -- the board agreed to accept their proposals," said Aflac Incorporated board member Robert B. "Ben" Johnson, chairman of the Compensation Committee. "We support their decision to voluntarily reduce their personal compensation as a demonstration of their commitment to our shareholders."
In 2008, Amos received a salary of $1.3 million and Cloninger received a salary of $857,700.
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Tuesday, December 23, 2008
Aflac Named America's Best Managed Company for Insurance Industry by Forbes.com
/PRNewswire/ -- Aflac has been named to the Forbes.com list of America's Best Managed Companies for 2008. The insurance giant was also included in Forbes's list of the 400 Best Big Companies, based on sales and earnings growth, debt to total capital, earnings outlook and stock market returns. Editors rate companies on one- and five-year data, considering both long-term success and latest performance. Guided by these rankings and other data, one company is chosen as the best managed for each industry.
"It is an honor to be recognized by Forbes.com as one of America's best managed companies. It illustrates management's commitment to the company's core values and the financial strength of the company," said Aflac Chairman and CEO Dan Amos.
This year marks the ninth time that Aflac has been included on the Forbes.com list of 400 Best Big Companies. The list of 400 Best Big Companies and America's Best Managed Companies is available at www.forbes.com.
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Tuesday, October 21, 2008
Nurses Report Quality Health Benefits Key to Choosing an Employer
/PRNewswire/ -- As more hospitals ramp up efforts to attract and retain quality nursing staffs, a new survey(i) by insurance provider Aflac finds that 86 percent of nurses say a hospital's benefit package is one of the most important factors when determining where they choose to work, and more than half report they would switch jobs solely based on an employer's benefits.
In fact, three-quarters of the registered nurses surveyed say they would prefer to work for an employer that provides voluntary insurance policies, including insurance for short-term disability. Additionally, the vast majority of the randomly polled nurses (87 percent) believe that voluntary insurance is an important factor when evaluating a current or potential employer.
The survey findings come at a time when American hospitals are facing critical nursing shortages: The Journal of the American Medical Association(ii) has forecasted that by 2020, the number of registered nurses will fall short of demand by 20 percent.
"These findings underscore the positive response we've seen among employees with access to voluntary insurance," said Paul S. Amos II, president, Aflac; COO, U.S. Operations. "Not only can voluntary insurance help nurses manage their health care expenses, but it can also have a positive impact on hospitals' recruitment and retention efforts."
Other survey highlights include:
-- 66 percent of nurses say a voluntary insurance package would positively impact their decision to remain with an employer
-- 64 percent of nurses who currently have voluntary insurance policies are unwilling to go without them
-- 54 percent of nurses say that voluntary insurance would improve their benefits package
-- 89 percent of nurses believe that as health care costs rise in the coming years, voluntary insurance will become even more important
-- 47 percent would consider switching jobs if their new employer made voluntary insurance plans available
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Wednesday, September 10, 2008
Aflac Named a Best Place to Launch a Career by BusinessWeek Magazine
PRNewswire/ -- Aflac has been named a top 119 company for entry-level workers in BusinessWeek's 2008 Best Places to Launch a Career listing. In a special online report, the magazine noted the insurer's internship program for college students, company benefits and advancement opportunities through leadership development training as favorites among new professionals entering the workforce.
"We strive to create a work environment at Aflac that not only supports employees in starting a new profession, but also in building a long-term career within the company," said Sharon Douglas, vice president and chief people officer, Human Resources. "It is a special honor to be recognized by BusinessWeek as a top workplace, particularly as more companies find innovative ways to become an employer of choice."
In determining the top companies, BusinessWeek used a three-part methodology that included feedback from three different sources. First, the magazine surveyed directors of undergraduate career services to find out which employers were creating excitement among students on campus. Next, finalists were asked to complete a questionnaire about pay, benefits, retention and training programs, which was then compared to other employers in the same industry. Finally, Universum Communications, a Philadelphia research company supplied data from its survey of more than 37,000 U.S. undergrads about the finalists at the top of their list of most desirable employers.
"In this challenging environment, companies are finding inventive ways to attract, retain and motivate their youngest employees," said John Burn, executive editor of BusinessWeek during a podcast discussion on the listing.
Aflac has a University Relations program dedicated to helping the company successfully attract the most outstanding new talent. Through this program, the company offers paid internships and co-ops, including housing for college students. In 2008, Aflac partnered with the Greater Columbus Chamber of Commerce to launch the city's Young Professional's organization that is designed to provide networking opportunities throughout the area for registered members. Additionally, Aflac's on-site career development courses and Leadership Academy are counted among the top training programs in the country.
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Thursday, September 4, 2008
LATINA Style Applauds Aflac for Its Commitment to Workforce Diversity
/PRNewswire/ -- Aflac has been recognized among the corporate elite in the 2008 LATINA Style 50 Report, which sets the standard for corporate America's sensitivity to Latinas' needs and goals in the workplace identifying companies that provide the best career opportunities for Latinas in the United States.
This year, the magazine's annual awards ceremony will celebrate its 11- year anniversary and honor the LATINA Style 50 companies during a Diversity Leaders Conference on February 5, 2009, in Washington, D.C.
"It is a great honor for the Aflac family to be recognized among LATINA Style's 50 best companies in America for the ninth year," said Brenda Mullins, second vice president and diversity officer for Aflac Human Resources. "We value our talented and diverse workforce and pride ourselves in creating an environment that fosters career advancement opportunities for all our employees."
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Sunday, July 6, 2008
Computerworld Magazine Names Aflac as One of the Best Places to Work in Information Technology
PRNewswire/ -- Today(June 30, 2008), Aflac was selected as a top employer for Information Technology professionals by IDG's Computerworld magazine. The leading insurer ranked Number 34 on the 15th annual Best Places to Work in IT listing. In the publication's July edition Aflac's flexible work schedule and work/life balance for employees was cited as a determining factor in continuing its nine-year run on the coveted list.
"It is an honor to have a reputation as an employer of choice for IT professionals," said Gerald Shields, senior vice president, CIO. "Aflac's IT team is committed to being leaders in innovation because we understand the added value that technology can bring to our sales force's ability to perform their jobs while providing quality service to our customers. We are proud of the critical role we have within the organization."
This year, businesses completed a comprehensive questionnaire regarding company offerings in categories such as benefits, diversity, career development, training and retention. In addition, Computerworld conducts extensive surveys of IT workers, and their responses factor heavily in determining the rankings.
"Being among the Best Places to Work in IT means crafting a blend of employee advantages that includes the potential for flexible hours, competitive pay, excellent benefits, a supportive leadership environment, opportunities for ongoing training and advancement, and ultimately, the feeling that you'd like to stay with the company a long, long time," said Scot Finnie, editor in chief of Computerworld.
