COLUMBUS, GA (WXTX) - Aflac held its annual shareholder meeting today at the Columbus Museum. In preparation, Chairman and CEO Dan Amos says he took a different approach.
"I met with a different group of people and said what do you think they'll ask?"
So, Amos says his goal was to answer each of those questions.
First, he tackled the Aflac stock. Monday's meeting marked Amos' 20th time in front of the group, but never before has he had to face the crowd in such a climate.
"I know that you're disappointed with the price of the stock, and I don't blame you one bit, as a large shareholder, I too am disappointed," said Amos in his presentation.
On January 22nd, the duck dipped nearly 37%. Amos says he learned an important lesson that day.
"Always be aware that outside forces can affect you, be on your toes," says Amos.
Amos is referring to a note from an analyst that caused the decline. Since then, the stock has soared, but Amos addressed the issue, including the company's investment strategy.
"That particular analyst has gone from where he once stood and made the stock go down and now, he has it as a "buy", so things do change," Amos says.
What hasn't changed Amos claims are the company's core values. Possibly reflected in first quarter figures, revenue is up nearly 13%.
Amos also pointed out that Aflac has faired better than many of its peers and even other industries.
"Insurance premiums are constantly renewed, so it's not like Wal-Mart or any other company you might name where you go in and you have to buy new goods. Everybody automatically receives an insurance premium, so we can calculate better what our revenue growth may be as a general rule, explains Amos.
Overall, Amos says he's positive about the future.