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.