Aflac Jumps Most Since 2012 as CEO Amos Reverses Sales SlumpJing Cao and Zachary Tracer
Aflac Inc., the largest seller of supplemental health insurance, climbed the most since 2012 after fourth-quarter profit beat analysts’ estimates on sales gains in the U.S. and Japan.
Aflac, led by Chief Executive Officer Dan Amos, rallied 3.4 percent to $61.09 at 9:42 a.m. in New York, erasing the company’s loss for the year. The gain was the largest in the 85-company Standard & Poor’s 500 Financials Index.
Net income rose 4.1 percent to $703 million, the Columbus, Georgia-based company said yesterday after the close of regular trading. Operating profit, which excludes some investing results, was $1.29 a share, topping the average analyst’s estimate by one cent. A deal with Japan Post helped the first increase of new annualized premium sales in the country in seven quarters.
“The very successful cancer roll-out through Post, and strong U.S. sales growth highlighted 4Q results,” John Nadel, an analyst at Sterne Agee & Leach Inc., said in a note to clients.