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Aflac Incorporated Announces Fourth Quarter Results, Reports Fourth Quarter Net Earnings of $951 Million, Reiterates Increase in First Quarter Cash Dividend of 17.9%


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COLUMBUS, Ga., Feb. 3, 2021 /PRNewswire/  Aflac Incorporated (NYSE: AFL) today reported its fourth quarter results.
Total revenues were $5.9 billion in the fourth quarter of 2020, compared with $5.6 billion in the fourth quarter of 2019. Net earnings were $951 million, or $1.35 per diluted share, compared with $782 million, or $1.06 per diluted share a year ago, driven primarily by an increase in net investment gains.
Net earnings in the fourth quarter of 2020 included pretax net investment gains of $268 million, or $0.38 per diluted share, compared with pretax net investment gains of $34 million, or $0.05 per diluted share a year ago, which are excluded from adjusted earnings. The net investment gains were driven by an increase in the fair value of equity securities of $290 million largely due to the investment in Trupanion and net gains from certain derivatives and foreign currency activities of $27 million, offset by net ....

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