Insurer Aflac beats quarterly profit estimates on higher U.S. premiums

(Reuters) - Life and health insurer Aflac reported second-quarter profit above analysts' estimates on Wednesday, helped by higher premiums earned in its U.S. unit.

Its U.S. unit earned net premiums of $1.5 billion for the quarter ended June 30, up 2.1% from a year earlier.

Net earnings in the second quarter came in at $1.76 billion, compared with $1.63 billion a year earlier.

On an adjusted basis, the Columbus, Georgia-based company reported a quarterly per-share profit of $1.83 per share, compared to the analysts' average estimate of $1.60 per share, according to LSEG data.

The company’s new product launch, which includes a future nursing care coverage feature, has helped revive sales, driving a 4.5% increase in sales for the quarter at its Japanese unit.

Aflac did not comment on the sales forecast for its U.S. or Japan businesses.

However, the company earned net premium of 267.3 billion yen ($1.78 billion) in its Japan unit, down 5.7% due to impact of reinsurance and paid-up policies.

($1 = 149.8900 yen)

(Reporting by Sruthi Narasimha Chari in Bengaluru; Editing by Tasim Zahid)