Discontinued — last reported Q3 '24
Closed Block — Assumed benefits and claims from other companies
Aflac Closed Block — Assumed benefits and claims from other companies increased by 41.7% to $17M in Q3 2024 compared to the prior quarter. Year-over-year, this metric declined by 41.4%, from $29M to $17M. Over 2 years (FY 2021 to FY 2023), Closed Block — Assumed benefits and claims from other companies shows a downward trend with a -15.4% CAGR. This increase may warrant attention — for this metric, lower values are generally preferred.
Analysis
How to read this metric
A lower value relative to assumed premiums indicates better underwriting performance and profitability in the assumed reinsurance business.
Detailed definition
This represents the total benefits and claims incurred by the company resulting from insurance risk assumed from other e...
Peer comparison
Comparable to 'Assumed Claims Incurred' in reinsurance accounting.
afl_segment_closed_block_assumed_benefits_and_claims_from_other_companiesHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $42M | $42M | $39M | $37M | $39M | $41M | $27M | $41M | $20M | $29M | $28M | $13M | $12M | $17M |
| QoQ Change | — | +0.0% | -7.1% | -5.1% | +5.4% | +5.1% | -34.1% | +51.9% | -51.2% | +45.0% | -3.4% | -53.6% | -7.7% | +41.7% |
| YoY Change | — | — | — | — | -7.1% | -2.4% | -30.8% | +10.8% | -48.7% | -29.3% | +3.7% | -68.3% | -40.0% | -41.4% |
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Frequently Asked Questions
- What is Aflac's closed block — assumed benefits and claims from other companies?
- Aflac (AFL) reported closed block — assumed benefits and claims from other companies of $17M in Q3 2024.
- How has Aflac's closed block — assumed benefits and claims from other companies changed year-over-year?
- Aflac's closed block — assumed benefits and claims from other companies decreased by 41.4% year-over-year, from $29M to $17M.
- What is the long-term trend for Aflac's closed block — assumed benefits and claims from other companies?
- Over 2 years (2021 to 2023), Aflac's closed block — assumed benefits and claims from other companies has grown at a -15.4% compound annual growth rate (CAGR), from $165M to $118M.
- What does closed block — assumed benefits and claims from other companies mean?
- The total cost of claims and benefits the company must pay out for insurance policies it assumed from other insurers.