Aflac Incorporated reported third quarter net earnings of $303 million, or $0.61 per diluted share, down from $1.6 billion, or $3.08 per share, a year earlier. The drop stemmed mainly from realized losses tied to a strategic repositioning of its investment portfolio. Adjusted earnings fell 8.5% to $1.2 billion, or $2.43 per diluted share, down 2.4%. Total revenues were $3.3 billion, compared with $4.7 billion a year ago. Aflac Japan's pretax adjusted earnings fell 21.0% to $961 million. Aflac US pretax adjusted earnings rose 31.5% to $493 million. The company returned $1.1 billion to shareholders. Its board declared a fourth quarter dividend of $0.61 per share, payable December 1, 2026, marking 44 consecutive years of increases.

Aflac Incorporated reported third quarter net earnings of $303 million, or $0.61 per diluted share, down from $1.6 billion, or $3.08 per share, a year ago. The company said the fall came mainly from realized losses tied to a strategic repositioning of its portfolio. Adjusted earnings fell 8.5% to $1.2 billion, or $2.43 per diluted share, down 2.4%. Total revenues dropped 31% to $3.3 billion from $4.7 billion. Aflac U.S. pretax adjusted earnings rose 31.5% to $493 million. Aflac Japan's fell 21.0% to $961 million. The company returned $1.1 billion to shareholders. Its board declared a fourth quarter dividend of $0.61 per share, payable December 1, 2026, marking 44 consecutive years of increases.

Aflac is expected to report quarterly earnings of $1.80 per share on revenue of about $4.2 billion, both below a year ago. Analysts point to weaker net premiums in Japan and the US. The insurer's debt-to-equity ratio is 10.9x, leaving less room for error if profit or book value slips. Management is counting on higher net investment income, new products such as Tsumitasu in Japan, and growth in US group lines to offset the pressure. Aflac's current earnings are $4.9 billion. Analysts expect $3.6 billion by 2029, with revenue of $17.4 billion and a 1.2% yearly decline.