Fourth quarter profits for several insurers beat analysts' expectations, Reuters reports, if only slightly.
Profits for supplemental disability insurance provider Aflac were boosted by strong sales in the Japanese sector, and the recent acquisition of Continental American Insurance Co. Without these two influences, though, Reuters reports the company's fourth-quarter results would have been "worse."
The company earned $251 million at 53 cents per share; operating profit, which excludes investment losses and gains, was $1.18 per share, just over the estimated $1.15 per share.
Rival disability insurer Unum saw a similar level of success. The company earned $199 million, or 60 cents per share, up from only 13 cents a year ago, and topping analysts hopes of 64 cents per share.
Operating income rose 11 percent to $203 million, but premium income fell 3 percent.