Aflac Inc. ($AFL) reached an all-time high, rising 8% following the release of its quarterly earnings, which showed a revenue of $5.14 billion, a slight decline of 0.66% year-over-year, but beating expectations by $828 million. The earnings per share (EPS) of $1.83 represented a 15.82% year-over-year increase, exceeding estimates by $0.23. Other insurers also reported strong earnings, with MetLife ($MET) posting a revenue of $18.68 billion, a 0.26% increase year-over-year, and an EPS of $2.28, beating estimates by $0.11. Allstate Corporation ($ALL) reported revenue of $14.28 billion, a 13.15% increase year-over-year, with an EPS of $1.61, surpassing expectations by $1.24. American International Group ($AIG) reported a revenue of $6.56 billion, an 11.78% decline year-over-year, with an EPS of $1.16 that missed estimates by $0.14. Despite the positive earnings reports, concerns linger regarding Aflac's significant exposure to Japanese securities, which constitute over 50% of its asset base, amid potential instability in Japan's interest rate policy.
Here's your Aflac $AFL asset base, which contains >50% Japanese securities - stock is at an all-time high after 2Q results that don't yet reflect any pressure on Japanese risk assets: https://t.co/ZLKi9Hwb8U https://t.co/17y8w6fAAH
The Allstate Corporation $ALL has released its quarterly earnings. Revenue of $14.28B (+13.15% YoY) beats by $289M. EPS of $1.61 beats by $1.24.
American International Group $AIG has released its quarterly earnings. Revenue of $6.56B (-11.78% YoY) beats by $180M. EPS of $1.16 (+9.43% YoY) misses by $0.14.