Aflac says Q2 2026 adjusted EPS rises 1.1% to $1.80 on reserve gains, lower US expenses
AFL•U.S. segment trends
- In the U.S., net earned premiums rose 2.3%.
- The benefit ratio increased to 49.5% on higher group disability claims, while the expense ratio improved to 36.1%.
Japan segment trends
- In Japan, net earned premiums fell 3.7% in yen terms; underlying earned premiums slipped 1.4%.
- The benefit ratio improved to 64% as cancer and hospitalization trends stayed favorable.
Quarterly results and drivers
- Aflac posted Q2 2026 adjusted EPS of $1.80, up 1.1% excluding foreign-currency effects; variable investment income missed its long-term expectation by $72 million.
- Reserve remeasurement gains totaled $46 million, cutting benefits; an expense contingency release of $26 million lifted results by $0.04 per share.
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