Aflac Incorporated reported third-quarter 2024 total revenues of $2.9 billion, a 40.4% decrease from $5.0 billion in the prior year's third quarter. The company posted a net loss of $93 million, or $0.17 per diluted share, primarily due to $1.4 billion in net investment losses and foreign exchange-related losses from a 12.9% yen strengthening during the quarter.
Despite the GAAP net loss, adjusted earnings for the quarter increased by 10.6% to $1.2 billion, with adjusted earnings per diluted share rising 17.4% to $2.16. Aflac Japan's new annualized premium sales increased by 12.3% to ¥17.5 billion, driven by a new first sector product, while Aflac U.S. net earned premiums grew 2.8% to $1.5 billion, with sales up 5.5% to $379 million.
The company's board of directors declared a fourth-quarter dividend of $0.50 per share, payable on December 2, 2024. Aflac also deployed $500 million in capital to repurchase 4.9 million of its common shares during the third quarter, demonstrating its commitment to shareholder returns.
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