While the economy is slowing, it's not affecting Aflac’s business, Chairman and CEO Dan Amos told CNBC's "Squawk Box" on Wednesday morning.
As a guest host on the show, Amos discussed his company’s say on pay policy and participated in conversations about the economy.
"In the past we’ve never seen a correlation with a down market," Amos said about how the struggling economy affects the company.
He said the only changes he sees in a recession is an increase in recruiting. The company has found people are more willing to take a commission-only job at Aflac if they aren’t finding a salaried position.
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During the show, the durable goods report for February was released and indicated businesses are holding back on purchases. But that’s not the case at Aflac, Amos told the show’s hosts. The company is currently constructing a new information technology building on the Paul S. Amos campus.
"We've got to continue to spend money and invest for future growth," Amos said. Another Columbus executive appeared on the show with Amos. Phil Tomlinson, chairman and CEO of TSYS, said consumers are still using credit cards.
T h e credit-card processor, w h i c h relies on transactions, saw a 12 percent increase in transactions in February "Transaction size doesn’t affect us at all," Tomlinson said. "But we watch the transaction size, and it has gone down. But it's not the disaster that you hear some people talking about." Tomlinson also discussed the company's overseas growth and the way the upcoming Olympics in China is changing how credit cards are received in the country.
Amos also asked Aflacsponsored NASCAR driver Carl Edwards to be a guest on the show. Edwards said he is gearing up for the race in Martinsville Speedway in Martinsville, Va., this weekend and hopes to have a better race there than he has in the past.
Edwards joked about the conflict between the messages of his two major sponsors. "With Aflac, if you can’t work, they’re cool with it, but Office Depot wants you to work," Edwards said.