JPMorgan analyst Jimmy Bhullar views the resignation of Paul Amos II, President of Aflac and son of CEO Dan Amos, as a surprise. Paul Amos was widely regarded as the leading candidate to succeed Dan Amos as CEO, Bhullar tells investors in a research note. The analyst also finds it "odd" that Amos II is receiving a $3.4M payment as part of the resignation, which he notes equates to 30 months of base salary and an annual incentive award for fiscal 2017. Bhullar, however, does not anticipate a major near-term disruption in Aflac's operations or a change in strategy, despite speculation of a separation of the Japan and U.S. divisions. He also now believes CEO Amos is unlikely to retire in the near term, which the analyst views as a positive. Bhullar has an Overweight rating on Aflac and says the stock remains his top pick for the life insurance sector.