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Aflac AFL Critical care — Future policy benefits

Other product segments

Life insurance
$15.45B-23.3%
Medical and other health
$6.5B-25.1%
Other
$3.1B-19.9%
Hospital indemnity
$758M-1.8%
Accident
$635M+0.8%
Disability
$627M-8.6%
Dental/vision
$228M-6.9%

Similar metrics at other companies

Apollo Global Management logo
APOTotal — Future policy benefits
$43.04B-2.4%
Fidelity National Financial logo
FNFPRT — Future policy benefits
$8.18B+28.6%
F&G Annuities & Life logo
FGPRT — Future policy benefits
$8.31B+22.8%
Apollo Global Management logo
APOReconciling items — Future policy benefits
$5.62B-2.9%
Apollo Global Management logo
APOWhole Life — Future policy benefits
$2.32B+22.9%
Fidelity National Financial logo
FNFImmediate annuities — Future policy benefits
$1.24B-4.2%

Other financials

Income statement

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Revenue$4.1B-1.0%
Net income$825.0M+37.7%
EPS (diluted)$1.63+46.8%

Balance sheet

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Cash & equivalents$6.1B-12.1%
Total debt$8.8B-2.4%
Total equity$30.3B+11.4%
Total assets$115.96B-7.0%

Cash flow

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Operating cash flow$112.0M-71.9%

Valuation

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Market cap$63.91B+16.8%
Enterprise value$66.6B+17.3%
P/E13.1×-9.3×
P/S3.5×+0.1×

Profitability

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Net margin26.9%+11.6pp

Returns & leverage

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Return on equity16.9%+7.8pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by Aflac in its filing.

Tagged under the XBRL concept us-gaap:LiabilityForFuturePolicyBenefits.

The source filing: Aflac’s 10-Q, filed August 7, 2026.

Filed
Aug 7, 2026, 9:18 AM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001628280-26-054618
(In millions)Aflac Japan / CancerAflac Japan / Medicaland Other HealthAflac Japan / Life InsuranceAflac Japan / OtherAflac U.S. / AccidentAflac U.S. / DisabilityAflac U.S. / Critical CareAflac U.S. / Hospital IndemnityAflac U.S. / Dental/VisionAflac U.S. / Life InsuranceAflac U.S. / Other
Foreign currency translation(1,293)(782)(903)(168)0000000
Other00000000000
Ending balance at original discount rate34,63420,95924,1214,5153,3002,40811,8332,0804582,4222,791
Effect of changes in discount rate assumptions(3,323)(5,274)(5,681)(1,254)(210)(98)(1,146)(144)(27)(243)167
Balance at June 30, 202631,31115,68518,4403,2613,0902,31010,6871,9364312,1792,958
Net liability for future policy benefits20,3256,50414,3572,6256356276,7467582281,091471
Less: reinsurance recoverable3,9209333030000002917
Net liability for future policy benefits after reinsurance recoverable$16,405$5,571$14,054$2,625$635$627$6,746$758$228$1,062$454

Item 1. Financial Statements (Unaudited)

FAQ

What is Aflac's critical care — future policy benefits?
Aflac (AFL) reported critical care — future policy benefits of $6.75B in Q2 2026.
How has Aflac's critical care — future policy benefits changed year-over-year?
Aflac's critical care — future policy benefits decreased by 1.9% year-over-year, from $6.88B to $6.75B.
What is the long-term trend for Aflac's critical care — future policy benefits?
Over 2 years (2023 to 2025), Aflac's critical care — future policy benefits has grown at a -1.1% compound annual growth rate (CAGR), from $28.18B to $27.59B.
What does critical care — future policy benefits mean?
The aggregate balance sheet liability representing the present value of future benefits payable to policyholders in the critical care segment. This is the core reserve amount held to ensure the company can meet its long-term contractual obligations. It is the most significant liability item for this business line.

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