Aflac Inc., the U.S.-based insurer that makes most of its revenue from health insurance in Japan, said sales will be disrupted to a “small degree” by the 8.9- magnitude earthquake that killed hundreds.
“I still expect us to achieve our objectives,” Daniel Amos, chief executive officer of the Columbus, Georgia-based company, said today in an interview. “I don’t see this any different from the Kobe earthquake in terms of how it will impact us.”
The strongest earthquake on record to hit Japan struck off the coast of Sendai, a city of 1 million in the northeast, unleashing a tsunami with waves as high as 23 feet that engulfed towns along the coast. The Tohoku region, which includes Sendai, accounts for about 8 percent of the country’s gross domestic product, according to Macquarie Securities Ltd.
Aflac’s seven offices in the earthquake area are “in working order,” Amos said. The insurer fell 95 cents, or 1.7 percent, to $54.74 at 11:10 a.m. in New York Stock Exchange composite trading.
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