COLUMBUS, Ga., Oct. 2 /PRNewswire-FirstCall/ -- Aflac Incorporated
announced today that it will take early delivery of 10.7 million common
shares that were acquired through a previously announced repurchase
agreement. The company will also receive $141.8 million of unused funds.
This will bring the total number of shares Aflac has repurchased in 2008 to
23.2 million.
Commenting on the announcement, Chairman and Chief Executive Officer
Daniel P. Amos stated: "Given the uncertainties in the marketplace, we felt
it was best to take early delivery of the shares and terminate the
agreement at this time. However, we still believe that repurchasing our
shares is the best use of excess capital, and we will continue to purchase
our shares in a way that is consistent with our financial objectives. At
the same time, we continue to believe we are well-positioned to achieve our
objectives for earnings-per-share growth for this year and next. Our goal
for 2008 is a 14% to 15% increase in operating earnings per share,
excluding the impact of foreign currency. Our objective for 2009 is to
increase operating earnings per share 13% to 15%, excluding the impact of
foreign currency."
For more than 50 years, Aflac products have given policyholders the
opportunity to direct cash where it is needed most when a life-interrupting
medical event causes financial challenges. Aflac is the number one provider
of guaranteed-renewable insurance in the United States and the number one
insurance company in terms of individual insurance policies in force in
Japan. Our insurance products provide protection to more than 40 million
people worldwide. Aflac has been included in Fortune magazine's list of
America's Most Admired Companies for seven years and in Fortune magazine's
list of the 100 Best Companies to Work For in America for ten consecutive
years. Aflac has been recognized three times by both Fortune magazine's
list of the Top 50 Employers for Minorities and Working Mother magazine's
list of the 100 Best Companies for Working Mothers and has also been
included in Ethisphere magazine's list of the World's Most Ethical
Companies for two consecutive years. Aflac Incorporated is a Fortune 500
company listed on the New York Stock Exchange under the symbol AFL. To find
out more about Aflac, visit aflac.com.
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: legislative and
regulatory developments, including changes to health care and health
insurance delivery; assessments for insurance company insolvencies;
competitive conditions in the United States and Japan; new product
development and customer response to new products and new marketing
initiatives; ability to attract and retain qualified sales associates and
employees; ability to repatriate profits from Japan; changes in U.S. and/or
Japanese tax laws or accounting requirements; credit and other risks
associated with Aflac's investment activities; significant changes in
investment yield rates; fluctuations in foreign currency exchange rates;
deviations in actual experience from pricing and reserving assumptions
including, but not limited to, morbidity, mortality, persistency, expenses
and investment yields; level and outcome of litigation; downgrades in the
company's credit rating; changes in rating agency policies or practices;
subsidiary's ability to pay dividends to the parent company;
ineffectiveness of hedging strategies; catastrophic events; and general
economic conditions in the United States and Japan, including increased
uncertainty in the U.S. and international financial markets.
Analyst and investor contact - Kenneth S. Janke Jr., 800.235.2667 -
option 3, FAX: 706.324.6330, or kjanke@aflac.com
Media contact - Laura Kane, 706.596.3493, FAX: 706.320.2288, or
lkane@aflac.com
(Logo: http://www.newscom.com/cgi-bin/prnh/20041202/CLTH019LOGO )
SOURCE Aflac Incorporated
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Related links:
http://www.aflac.com
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AP Archive: http://photoarchive.ap.org PRN Photo Desk
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CONTACT:
Analyst and investors, Kenneth S. Janke Jr.,
+1-800-235-2667, option 3, +1-706-324-6330 fax, kjanke@aflac.com,
or Media, Laura Kane, +1-706-596-3493, +1-706-320-2288 fax,
lkane@aflac.com
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