Aflac Incorporated reported fourth-quarter 2024 total revenues of $5.4 billion, a 43.1% increase from $3.8 billion in the prior year. Net earnings for the quarter were $1.9 billion, or $3.42 per diluted share, significantly up from $268 million, or $0.46 per diluted share, in Q4 2023, driven by $1.0 billion in net investment gains.
Adjusted earnings for the fourth quarter increased 18.2% to $865 million, with adjusted earnings per diluted share rising 24.8% to $1.56, though this missed Wall Street estimates of $1.62. For the full year 2024, total revenues were $18.9 billion, and net earnings reached $5.4 billion, or $9.63 per diluted share, with adjusted earnings at $4.1 billion, or $7.21 per diluted share.
Aflac Japan's new annualized premium sales increased 9.0% in the quarter, primarily from Tsumitasu, contributing to a 5.6% full-year sales increase in yen terms. Aflac U.S. net earned premiums grew 2.7%, and pretax adjusted earnings increased 9.3%. The company repurchased $750 million in shares during the quarter, totaling $2.8 billion for the year, and reiterated its first-quarter 2025 dividend of $0.58 per share, a 16.0% increase.
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