AFLAC shares gain following response to concerns about hybrid securities; group remains lower (25.50 +2.60) -Update : AFL shares resumed trading 7% higher after the co issued a press release reaffirming growth objectives and its capital position. The press release was issued in response to yesterday's concerns about hybrid securities, which were raised after an analyst note discussed the co's exposure to these securities. AFL lost 37% yesterday, and the concerns weighed on other insurers, which are also lower today... In today's release AFL said it expects to report operating EPS that are consistent with its stated earnings objective of a 15% increase, and reaffirmed its dividend. The co said it has excess capital of $500 mln to $1.0 bln, and they do not see a need to raise additional capital. The co also noted their holdings of hybrid securities at fair value were $8.1 bln, or approximately 11.8% of the consolidated investment portfolio of $68.6 bln. Additionally, AFL said the changes in the fair value of these hybrid securities are not included in, and therefore do not impact, the risk-based capital ratio.