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Aflac Incorporated Announces Fourth Quarter Results, Sees 2008 RBC Ratio Above 450%, Affirms 2009 Operating EPS Target
Date:2/2/2009

mium sales decreased .4% to $1.6 billion. Although still a small contributor to total new sales, we were pleased to see strong life insurance sales in 2008. Life insurance sales rose 12.9% for the year and accounted for 6.2% of total new sales. We believe the improvement in life sales resulted from promoting life and health insurance bundles, which we initiated in April of 2008. Despite the sluggish sales results, we continued to make strides in expanding our sales force. During the fourth quarter, we recruited more than 6,000 new sales associates, an increase of 7.4% over the fourth quarter of 2007. The number of average producing sales associates rose .6% in the fourth quarter and 2.6% for the year.

OUTLOOK

Commenting on the company's fourth quarter and full-year results, Chairman and Chief Executive Officer Daniel P. Amos stated: "Overall, I am pleased with our financial results and our accomplishments in 2008. It certainly proved to be a more challenging year than we anticipated due to continued economic deterioration. Even though we did not meet our annual sales objectives for Aflac Japan or Aflac U.S. in 2008, we continued to build on the strong foundations of our insurance operations. In Japan, we made major strides in diversifying and expanding our distribution system through the addition of the bank channel and the Japan Post Network Co. We also enhanced our product line to better meet the needs of consumers. In the United States, we produced steady growth in the number of new payroll accounts throughout the year, while also continuing to recruit and train new sales associates to further penetrate the vast U.S. market.

"I also remain very pleased with the quality and strength of our balance sheet. Although 2008 was marked by realized investment losses that were unusually high by Aflac standards, we believe our investment philosophy of matching our long-duration, yen-denominated l
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SOURCE Aflac Incorporated
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