April 30 (Reuters) - Aflac AFL.N missed profit estimates for the first quarter on Wednesday, weighed down by lower premiums in its Japanese division.
The health and life insurance provider offers accident and pet insurance plans through its units in the United States and Japan. It also offers supplemental insurance for out-of-pocket expenses by providing specific coverage for critical illnesses, dental and vision care, among others.
Aflac's Japan unit earned net premiums of 256.5 billion yen ($1.79 billion) during the reported quarter, 5% lower than a year ago, mainly due to internal cancer reinsurance transactions and limited-pay policies reaching paid-up status.
The company's U.S. unit earned net premiums of $1.5 billion for the first quarter, up 1.8% from a year earlier.
The insurer reported total revenue of $3.4 billion, which missed analysts' estimates of $4.28 billion, according to data compiled by LSEG.
On an adjusted basis, profit for the quarter ended March 31 was $1.66 per share, below the estimated $1.67 per share.
($1 = 142.9900 yen)
(Reporting by Sriparna Roy in Bengaluru; Editing by Mohammed Safi Shamsi)
((Sriparna.Roy@thomsonreuters.com;))
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