Tom Gallagher

Can you talk about what does that mean for -- from an IRR perspective for Aflac when there's somewhat younger customers that are doing lapse and reissue?

the number to get to flat premium growth in Japan you said would require around $90 billion of yen sales for the year. Did I understand that part correctly?

can you help quantify how much benefit you got from that external reinsurance deal? And were there any ESR headwinds

Can you talk about what kind of levels we're talking about here for group versus non-group sales?

Did you say that was Miraito? And how did -- what was the difference between -- because I think you launched that in June. And so what was actually repriced in September?

JPY 21 billion sales, that's -- if I annualize that, we're back to pre-pandemic levels now

why did the ESR ratio declined by so much in Q1? If I just look at the sensitivities, I think the sharp rise in Japan rates should have offset the strengthening of the Yen

how much of the Japan margin coming in at the low end of the guide is floating rate impact on NII and how much of it is more limited benefit ratio improvement?

Would you anticipate getting an extraordinary dividend out of that entity? And any updated thoughts on what you might do with that much level of excess?

How should I compare the HBAN deal with a normal, I'll say, 10 to 20-person adviser practice that you would hire and the type of package you give them

what's the scale of this activity? Is it limited enough, or you're not that worried, or is there a risk here that this starts to really become bigger

where do you see AWM margins going in '26? Do you think you can maintain this 29% to 30% range

How do you feel about retention of existing advisers

The elevated mortality in RPS this quarter, was that more a large claim volatility or higher frequency of claims

Just a follow-up on the two large advisor teams that left. Will that have any tail to it

What about payouts on existing advisers? Have you kind of reexamined or examined your payout grid

The results in the quarter looked quite strong. I guess, net investment income was up a lot sequentially

Would you expect to shrink overall advisers in the next year or so? Or would you still expect to be able to grow

Can you talk about visibility for the balance of 2025? Any other like chunky or lumpy outflows to flag

the long-term assumption changes that were made in 3Q, how much of a go-forward earnings boost is that -- will that result in, in terms of prospective earnings?

are there any long-term assumption change benefits embedded in your '26 guidance?

Does most of the $200 million annual improvement come from acquisition expenses or are there other components like discount rate?

are you assuming that this claims frequency issue stabilizes at current level, gets better, gets worse?

is '25 stat earnings likely to be weaker than '24

I assume that means that you see this more as a sustainable kind of ongoing free cash flow benefit, not just like a one-time release

how do I think about the timing of when the periods of repricing occur, is it most of it annual? Is it staggered throughout the year?

I noticed you've been shrinking that a lot. So it looks like you're not originating as much on that side

I think the $200 million benefit that you flagged, is this a GAAP-only impact? Any expected change in statutory

I know that they're a partner of yours. That's part you know, you have an investment management agreement with them. Any way you can sort of frame how meaningful that could be

Can you comment on the split between dental and disability, what you saw in Q3 and then why you're still confident that you can continue to improve into Q4?

Is that a few large deals, several smaller ones? And can you just comment on what's happening competitively in that market to allow you to have so many wins?

can you talk a bit about the way you approached it valuation-wise, I guess you're giving up 50 million roughly of net income. How much cash flow do you end up losing

can you comment on what your underwriting experience was like in MetLife Holdings this quarter between let's say, on the mortality side, for life insurance and then also on long-term care?

what's the thought process there? Is it, you know, just general market performance, do you have some line of visibility into Q1?

1Q '25 I think you had a jumbo case that you lost. How were the jumbo case call-outs for this quarter?

what is it about your strategy? And, you know, if I just compare Principal to peers, that produces such a better free cash flow outcome

should we still expect a low to mid-seventies loss ratio in the first half of this year? Or do you think it will be improved over that driven by pricing?

do you think we're at a better inflection point here broadly on those issues?

Or would you consider if there were lumpy defined contribution type assets that came to the market, would you still take a hard look at those?

I believe last quarter, you mentioned that there was gonna be a focus on it. Is there more to come on that in the second half of the year, or do you feel pretty good about where you're at now?

I noticed the RIS account values in the spread side went down. Somewhat this quarter. It looks like it's investment only. Any color on what you expect for the balance of the year on spread balances...

can you try and help us disaggregate what's going on in your 401 business by plan size?

Can you shed a little light on what kind of sales and lapse expectations are embedded in those numbers

can you shed a little light on what is happening with that part of the business

will you also suspend hiring new Life Planners while you shut down sales? Or are you going to continue normal course with hiring plans

I think Aflac has put out a range of 170% to 230%. Does that -- is that like within the ZIP code of the way you're viewing a potential range

Would you anticipate having to contribute capital, or do you feel like you're good enough based on at least preliminary assessment you've done

Is that something, though, that's on the table, a much more dramatic shrink of those, whether that's through a Prismic transaction or third party

I think you used to use operating income. Now you're using net income. Is there anything to read into with the change in that conversion