Aflac Reports Second Quarter Earnings Amid Yen Volatility

The Columbus-based insurer posted total revenues of $4.1 billion for the quarter, reflecting a 1% dip year-over-year. While net earnings rose to $825 million, largely due to shifts in investment outcomes, adjusted earnings per diluted share settled at $1.75. The average yen-to-dollar exchange rate of 159.45—a 9.3% weakening compared to the same period in 2025—exerted a $0.05 negative impact on the company's adjusted earnings per share.

Chairman and CEO Daniel P. Amos noted that the firm’s strategy remains focused on long-term value, supported by product initiatives in Japan such as the Anshin Palette medical insurance and Miraito cancer coverage. In the U.S. market, Aflac saw a 2.3% increase in net earned premiums, totaling $1.5 billion, bolstered by growth in group voluntary benefits and dental products. The company continues its capital deployment strategy, having returned $1.3 billion to shareholders through repurchases and dividends during the quarter. The board has declared a third-quarter dividend of $0.61 per share, payable on September 1, continuing a multi-decade record of shareholder payouts.