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COLUMBUS, Ga. - Aflac Incorporated (NYSE: AFL), a $55.5 billion market cap insurance provider with a strong InvestingPro Financial Health score of "GOOD," reported on June 12 that it identified suspicious network activity in its U.S. operations, according to a press release statement issued by the company.
The insurance provider stated it promptly initiated cyber incident response protocols and contained the intrusion within hours. The company, which has maintained dividend payments for 53 consecutive years and currently offers a 2.26% yield, indicated the attack was executed by what it described as a sophisticated cybercrime group as part of a broader campaign targeting the insurance industry.
According to Aflac, the unauthorized party used social engineering tactics to gain network access. The company’s systems were not affected by ransomware, and business operations remain functional, with the ability to underwrite policies and process claims continuing uninterrupted.
The preliminary investigation revealed that potentially compromised files may contain claims information, health information, social security numbers, and other personal data related to customers, beneficiaries, employees, agents, and other individuals connected to Aflac’s U.S. business.
Aflac has engaged third-party cybersecurity experts to support its response efforts. While the review of affected data is still in early stages, the company is offering free credit monitoring, identity theft protection, and Medical Shield for 24 months to individuals who contact its dedicated call center.
The company has established a dedicated call center at 1-855-361-0305, which opened today and will operate on weekdays, weekends, and holidays with varying hours through the end of June.
Aflac stated it will continue to investigate the incident and provide updates to stakeholders as more information becomes available. Despite the cybersecurity challenge, the company maintains solid fundamentals with a P/E ratio of 15.85 and strong earnings potential. For detailed analysis and additional insights, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers this and 1,400+ other top US stocks.
In other recent news, Aflac Incorporated reported its first-quarter 2025 earnings, revealing an adjusted earnings per share (EPS) of $1.66, slightly below the forecast of $1.68. The company’s revenue came in at $3.4 billion, missing the anticipated $4.26 billion, highlighting a significant shortfall. Despite this, U.S. net earned premiums grew by 1.8%, while Japan experienced a 5% decline in the same metric. In terms of capital management, Aflac repurchased $900 million in shares, reflecting a strong focus on shareholder returns.
Additionally, Piper Sandler reiterated an Overweight rating on Aflac’s stock, maintaining a price target of $120.00. The analysts pointed to potential growth from Aflac’s newly launched cancer insurance product in Japan and upcoming network dental and vision services in the U.S. Shareholders at Aflac’s recent annual meeting approved several proposals, including the election of 11 board members and the ratification of KPMG LLP as the independent auditor.
Moreover, Aflac announced an expansion of its partnership with technology firm Empathy, integrating the LifeVault service into its group term life insurance offerings. This service aims to simplify legacy planning for policyholders, enhancing the company’s comprehensive care portfolio. These developments reflect Aflac’s strategic initiatives to enhance product offerings and maintain strong governance.
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