Aflac
Aflac Incorporated is a leading provider of supplemental health and life insurance products, operating primarily in Japan and the United States. The company offers financial protection by paying cash benefits directly to policyholders for out-of-pocket medical expenses and non-medical costs not covered by primary insurance. Its core value proposition focuses on mitigating financial stress during illness or injury through a diverse portfolio of voluntary and employer-paid insurance solutions.
Financials
Based on Q1 2026 filing
Revenue
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Third Sector Insurance
primaryThe primary revenue driver for the company, particularly in Japan, providing supplemental coverage for medical and non-medical costs not reimbursed by national or primary health systems.
Miraito, Anshin Palette, Cancer Insurance, Medical Insurance, Nursing Care Insurance
Individual consumers, Employees, Small and medium-sized business owners
First Sector and Life Insurance
majorProvides death benefits and savings-oriented insurance products, including whole-life and term-life policies designed for family protection and post-retirement preparation.
Prepare Smart Whole-Life Insurance, GIFT, Tsumitasu, WAYS, Child Endowment
Individual consumers, Families, Retirees
Supplemental Health and Disability
majorOffers specialized coverage for accidents, short-term and long-term disability, and critical illnesses, primarily marketed at the worksite in the U.S.
Accident Insurance, Short-term Disability Insurance, Long-term Disability Insurance, Critical Illness Insurance, Hospital Indemnity Insurance
Employees, Small businesses (3-99 employees), Mid- and large-case employers (100+ employees)
Dental and Vision
moderateProvides network-based and fixed-benefit dental and vision coverage through group and individual platforms.
Aflac Dental, Aflac Vision
Group employers, Individual consumers
Segment Financials
Aflac Japan — Net earned premiums, principally supplemental health insurance
View metricAflac Japan — Total benefits and expenses
View metricAflac Japan — Other income (loss)
View metricLife insurance — Other
View metricLife insurance — Gross premiums
View metricLife insurance — Future policy benefits
View metricAflac U.S. — Other policyholders’ funds
View metricAflac U.S. — Deferred policy acquisition costs
View metricAflac U.S. — Benefits and claims, excluding reserve remeasurement
View metricAflac U.S. — Total benefits and claims, net
View metricAflac U.S. — Amortization of deferred policy acquisition costs
View metricBusiness Overview
Competitive Position
Aflac is the largest insurer in Japan for cancer and medical insurance policies in force and maintains a dominant brand presence in the U.S. supplemental market through its iconic Aflac Duck marketing.
Geographies
Japan, United States
Customer Segments
Individual policyholders, Small businesses, Enterprise employers, Government employees
Upstream Dependencies
Global capital markets, IT and telecommunication infrastructure, Third-party investment sub-advisors, Actuarial data providers
Downstream Customers
Individual policyholders, Corporate employees, Small business owners, Large-scale enterprise HR departments
Competitors & Partners
Competitors
Similar Companies
Partners
Daido Life
Alliance partner targeting small and medium-sized business owners in Japan.
Subsidiaries
Aflac Life Insurance Japan Ltd.
Primary insurance subsidiary for the Aflac Japan segment.
Continental American Insurance Company
Branded as Aflac Group Insurance (AGI) in the U.S.
Aflac Asset Management LLC
U.S. asset management subsidiary managing company investments.
Aflac Re Bermuda Ltd.
Bermuda-domiciled internal reinsurance entity.
Aflac FAQ
Common questions about Aflac
Aflac Incorporated is a leading provider of supplemental health and life insurance products, operating primarily in Japan and the United States. The company offers financial protection by paying cash benefits directly to policyholders for out-of-pocket medical expenses and non-medical costs not covered by primary insurance. Its core value proposition focuses on mitigating financial stress during illness or injury through a diverse portfolio of voluntary and employer-paid insurance solutions.
Aflac (AFL) has a market capitalization of $57.6B and trades on NYSE.
Aflac generated $18.1B in trailing twelve-month revenue with net income of $4.6B, representing a net margin of 25.6%. These figures are based on the Q1 2026 filing.
Aflac's key competitors include MetLife, Prudential Financial, Chubb Limited, and others. These companies compete in similar markets and product categories.
Aflac has approximately 12,785 employees.