Net earnings in the third quarter of 2009 included after-tax realized investment losses of $226 million, or $.48 per diluted share, compared with realized investment losses of $389 million, or $.81 per share in the third quarter of 2008. Of the realized investment losses in the third quarter of 2009, $212 million resulted from impairment losses on perpetual, or so-called "hybrid," securities of four issuers. The impairment loss on the perpetual securities was determined using the equity impairment method because their credit ratings are below investment grade. No impairment charges will be recorded on a statutory accounting basis for these perpetual securities because Aflac's credit analysis suggests that the issuers of the perpetual securities that were impaired on a GAAP basis will be able to meet their contractual obligations for payment. The company also realized investment losses of $22 million from the impairment of a collateralized debt obligation and $5 million primarily from the impairment of collateralized mortgage obligations. In addition, the company realized $13 million of investment gains from sales and redemptions of investment securities.


$389 Million ...$212 Million hey boy's stick to Insurance. lol


http://finance.yahoo.com/news/Aflac-Inco...


http://en.wikipedia.org/wiki/Risk_manage...