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Aflac Incorporated  (AFL)
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Aflac Incorporated's

Competitiveness


 

AFL Sales vs. its Competitors Q3 2019



Comparing the results to its competitors, Aflac Incorporated reported Total Revenue decrease in the 3 quarter 2019 year on year by -0.74 %, despite revenue increase by most of its competitors of 33.41 %, recorded in the same quarter.

List of AFL Competitors

With net margin of 14.04 % company achieved higher profitability than its competitors.

More on AFL Margin Comparisons



Revenue Growth Comparisons




Net Income Comparison


Aflac Incorporated Net Income in 3 quarter 2019 declined year on year by -8.05 %, despite income growth by most of its competitors

<<  More on AFL Income Comparisons


Aflac Incorporated's Comment on Competitors and Industry Peers


Aflac competes against several voluntary supplemental insurance carriers on a national and regional basis. We believe our policies, premium rates, and sales commissions are competitive by product type. Moreover, we believe that Aflac products are distinct from competitive offerings given our product focus (including features, benefits, and our claims service model), distribution capabilities, and brand awareness. For many companies with which we compete, voluntary supplemental insurance products are sold as a secondary business. However, a growing number of major medical and life insurance carriers are entering into the voluntary supplemental insurance market. For Aflac, supplemental insurance products are our primary business and are sold via a large distribution network of independent sales associates and brokers. Aflac's advertising campaigns have increased our name awareness and understanding by consumers and businesses of the value our products provide.

Both private and publicly-traded insurers offer major medical insurance for hospitalization and medical expenses. Much of this insurance is sold on a group basis to accounts that are both fully and self-insured. The federal and state governments also pay substantial costs of medical treatment through various programs. Major medical insurance generally covers a substantial portion of the medical expenses incurred by an insured. Aflac policies are designed to provide coverage that supplements major medical insurance by paying cash directly to the policyholder to use for expenses their major medical insurance is not designed to cover. Thus, we do not compete directly with major medical insurers. Any reduction of coverage, increase in employee participation costs, or increased deductibles and copayments by major medical commercial or government insurance carriers could favorably affect our business opportunities. With the implementation of the ACA, we anticipate a larger burden of the cost of care will be borne by some consumers, potentially creating a favorable impact on key markets for Aflac products. We also expect the ACA potentially will result in a more competitive landscape for Aflac, as major medical carriers face profitability erosion in some of their core lines of business and seek competitive entry into Aflac's supplemental product segments to offset this impact.

In 1974, Aflac was granted an operating license to sell life insurance in Japan, making Aflac the second non-Japanese life insurance company to gain direct access to the Japanese insurance market. Through 1981, we faced limited competition for cancer insurance policy sales. However, Japan has experienced two periods of deregulation since we entered the market. The first came in the early 1980s, when nine mid-sized insurers, including domestic and foreign companies, were allowed to sell cancer insurance products for the first time. In 2001, all life and non-life insurers were allowed to sell stand-alone cancer and medical insurance products as well as other stand-alone health insurance products. As a result, the number of insurance companies offering stand-alone cancer and medical insurance has more than doubled since the market was deregulated in 2001. However, based on our growth of annualized premiums in force and agencies, we do not believe that our market-leading position has been significantly impacted by increased competition. Furthermore, we believe the continued development and maintenance of operating efficiencies will allow us to offer affordable products that appeal to consumers. Aflac is the largest life insurer in Japan in terms of individual policies in force.





  

Total Segment Market Share Q3 2019

despite revenue deterioration, Aflac Incorporated inceased its market share in this segment.

company inceased its market share in this segment to approximate 3.25 %.



<<  More on AFL Market Share.
 

*Market share is not actual measurement, only performance comparison of companies which report and operate within the same segment.


AFL's vs. Competition, Data

(Revenue and Income for Trailing 12 Months, in Millions of $, except Employees)



COMPANY NAME TICKER MARKET CAP REVENUES INCOME EMPLOYEES
Aflac Incorporated AFL 39,550 21,832 3,048 9,235
Allstate Corp ALL 36,530 42,684 2,805 38,800
American International Group, Inc. AIG 46,224 50,491 2,740 65,000
Bb&t Corporation BBT 42,079 11,293 3,316 33,400
Cigna Corporation CI 71,853 129,657 4,283 37,200
Cincinnati Financial Corp CINF 17,551 8,397 919 4,305
Humana Inc HUM 47,830 60,726 2,505 57,000
Metlife Inc MET 47,932 65,750 6,108 66,000
Principal Financial Group, inc PFG 15,351 15,946 1,361 14,873
Prudential Financial Inc PRU 38,977 64,623 3,462 48,331
Safeco Corporation SAFC 0 0 0 0
Unitedhealth Group Incorporated UNH 275,203 235,876 13,390 170,000
Unum Group UNM 6,330 11,845 1,053 9,500
Wellpoint, Inc. WLP 0 71,427 2,570 0
Aetna Inc AET 70,069 60,705 3,503 48,800
Aon Plc AON 49,290 10,898 1,544 69,000
Lincoln National Corporation LNC 11,586 17,444 853 9,627
Ambac Financial Group, Inc. ABK 0 0 0 0
Mbia Inc MBI 729 224 -123 252
Hartford Financial Services Group Inc HIG 22,229 18,955 1,801 17,500
COVENTRY HEALTH CARE, INC. CVH 0 0 0 0
Assurant, Inc. AIZ 8,497 9,083 431 17,600
Loews Corp L 15,302 14,342 449 17,510
Xl Group Ltd XL 15,041 11,388 -543 4,663
Genworth Financial Inc GNW 2,357 8,393 179 5,300
BERKSHIRE HATHAWAY INC. BRK 0 0 0 316,000
Anthem, Inc. ANTM 73,871 99,282 4,013 48,200
Firstmerit Corp FMER 0 956 185 4,112
International Bancshares Corporation IBOC 2,853 570 212 2,822
Mb Financial Inc MBFI 3,598 955 331 2,980
Old National Bancorp ONB 3,131 788 232 2,652
Trustmark Corp TRMK 2,238 600 153 2,941
Investors Heritage Capital Corp IHRC 49 63 1 1
Security National Financial Corporation SNFCA 102 267 9 1,271
American Independence Corp. AMIC 0 0 0 268
Centene Corporation CNC 24,236 72,335 1,348 18,200
Cno Financial Group, Inc. CNO 3,006 4,262 -412 3,500
Natur International Corp. FUTU 1,756 2 0 150
Triple-s Management Corp GTS 469 3,201 16 3,257
Health Net Inc HNT 0 0 0 50
Molina Healthcare, Inc. MOH 8,243 17,219 770 21,000
Universal American Corp. UAM 0 0 0 961
Wellcare Health Plans, inc. WCG 15,889 26,983 631 6,900
Partnerre Ltd. PRE 0 5,590 -86 1,035
Atlantic American Corp AAME 42 195 -1 147
American National Insurance Co ANAT 3,194 3,651 413 4,736
Citizens, Inc. CIA 362 246 0 620
Fbl Financial Group, Inc. FFG 1,414 725 95 1,637
Fidelity & Guaranty Life FGL 1,532 1,585 243 220
First Trinity Financial Corp. FTFC 0 47 6 9
Kansas City Life Insurance Co KCLI 357 484 30 436
National Security Group Inc NSEC 38 66 1 1
National Western Life Group, Inc. NWLI 926 626 116 261
Protective Life Corporation PL 0 5,799 457 2,541
Phoenix Companies Inc PNX 0 0 0 630
Symetra Financial Corporation SYA 0 2,111 210 1,400
Utg Inc UTGN 112 27 3 42
Voya Financial, Inc. VOYA 8,297 8,962 640 7,000
China United Insurance Service, Inc. CUII 88 89 8 2,239
Horace Mann Educators Corporation HMN 1,847 1,378 131 1,350
Onebeacon Insurance Group, Ltd. OB 1,734 1,242 147 1,150
United Fire Group Inc UFCS 1,097 1,154 22 1,057
White Mountains Insurance Group, Ltd WTM 3,492 1,292 228 2,973
Axis Capital Holdings Ltd AXS 4,982 5,083 136 1,225
Kemper Corporation KMPR 5,019 3,328 376 5,600
National General Holdings Corp. NGHC 2,541 4,997 321 4,630
Midwest Holding Inc. MIDH 0 2 -6 19
SUBTOTAL 1,057,028 1,218,141 66,632 1,220,119


             
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