Share this article Share this article COLUMBUS, Ga., April 28, 2021 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) today reported its first quarter results. Total revenues were $5.9 billion in the first quarter of 2021, compared with $5.2 billion in the first quarter of 2020. Net earnings were $1.3 billion, or $1.87 per diluted share, compared with $566 million, or $0.78 per diluted share a year ago, driven by higher net investment gains. Net earnings in the first quarter of 2021 included pretax adjusted net investment gains* of $304 million, or $0.44 per diluted share, compared with pretax adjusted net investment losses of $448 million, or $0.62 per diluted share a year ago, which are excluded from adjusted earnings. The adjusted net investment gains were driven by net gains from certain derivatives and foreign currency activities of $361 million and a decrease in the allowances associated with the company's estimate of current expected credit gains (CECL) of $22 million, offset by a decrease in the fair value of equity securities of $68 million and net losses of $11 million from sales and redemptions.