NEW YORK (Reuters) - Aflac Inc said quarterly net earnings dropped 48 percent, hurt by soured investments, but forecast strong 2009 earnings growth and shares rose more than seven percent.

Fourth-quarter net profit fell to $197 million, or 42 cents a share, from $382 million or 78 cents a share, in the same period a year ago, Aflac, the world's largest seller of supplemental disability insurance, said yesterday.

The latest results included realised investment losses of $262 million, or 56 cents a share, partly from impairments on investments in Icelandic banks.

Aflac said its holding of hybrid securities — a source of investor concern because some issuers include troubled European banks — are performing as expected. The company said it does not anticipate needing to raise additional capital.

The company said its goal was to increase operating earnings per diluted share by 13 percent to 15 percent to $4.51 to $4.59 a share in 2009, excluding the impact of the Japanese yen.