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Earnings: Aflac, Genworth, Others

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An increase in the number of licensed sales representatives helped Aflac Inc. expand U.S. insurance sales in the fourth quarter of 2006.

Aflac, Columbus, Ga., is reporting $332 million in net income for the fourth quarter of 2006 on $3.7 billion in revenue, compared with $364 million in net income on $3.6 billion in revenue for the fourth quarter of 2005.

But new annualized sales rose 21% in the United States, to $447 million, Aflac reports.

Aflac ended the year with 68,300 licensed sales reps, up 8.5% from the year-end total for 2005, Aflac says.

In other earnings news:

- Genworth Financial Inc., Richmond, Va., is reporting $373 million in net income for the fourth quarter of 2006 on $2.8 billion in revenue, up from $307 million in net income on $2.7 billion in revenue for the fourth quarter of 2005.

- UnumProvident Corp., Chattanooga, Tenn., is reporting $276 million in net income for the fourth quarter of 2006 on $2.7 billion in revenue, up from $137 million in net income on $2.6 billion in revenue for the fourth quarter of 2005.

UnumProvident let group life sales fall in response to fierce competition and concerns about profitability, but group short-term disability sales rose 2.8%, to $33 million, and group long-term disability sales rose 31%, to $89 million.

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- Reinsurance Group of America Inc., St. Louis, is reporting $81 million in net income for the fourth quarter of 2006 on $1.5 billion in revenue, up from $68 million in net income on $1.2 billion in revenue for the fourth quarter of 2005.

U.S. mortality was inline with expectations, and international claims experience was good, RGA says.

- Phoenix Companies Inc., Hartford, is reporting $44 million in net income for the fourth quarter of 2006 on $675 million in revenue, compared with $50 million in net income on $714 million in revenue for the fourth quarter of 2005.

Private placement life and annuity deposits climbed to $947 million, from $282 million.

- StanCorp Financial Group Inc., Portland, Ore., is reporting $67 million in net income for the fourth quarter of 2006 on $652 million in revenue, up from $58 million in net income on $599 million in revenue for the fourth quarter of 2005.

Group sales fell to $86 million, from $95 million, because of a “very price competitive sales environment,” according to StanCorp, the parent of Standard Insurance Company.

- Sierra Health Services Inc., Las Vegas, is reporting $39 million in net income for the fourth quarter of 2006 on $426 million in revenue, up from $28 million in net income on $353 million in revenue for the fourth quarter of 2005.