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Aflac AFL Health insurance — Net earned premiums

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Other financials

Income statement

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Revenue$4.3B+27.9%
Net income$1.0B+3,414%
EPS (diluted)$1.98+3,860%

Balance sheet

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Cash & equivalents$5.7B+8.1%
Total debt$8.0B+1.8%
Total equity$30.0B+13.8%
Total assets$116.28B-3.3%

Cash flow

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Operating cash flow$968.0M+64.3%

Valuation

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Market cap$60.18B+7.8%
Enterprise value$62.52B+6.9%
P/E13×-2.6×
P/S3.3×0.0×

Profitability

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Net margin25.6%+4.3pp

Returns & leverage

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Return on equity16.5%+2.1pp
Debt / equity0.3×0.0×

Where this comes from

Reported directly by Aflac in its filing.

Tagged under the XBRL concept us-gaap:PremiumsEarnedNet.

The official record: Aflac’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Aflac's health insurance — net earned premiums?
Aflac (AFL) reported health insurance — net earned premiums of $2.92B in Q4 2025.
How has Aflac's health insurance — net earned premiums changed year-over-year?
Aflac's health insurance — net earned premiums decreased by 0.1% year-over-year, from $2.92B to $2.92B.
What is the long-term trend for Aflac's health insurance — net earned premiums?
Over 4 years (2021 to 2025), Aflac's health insurance — net earned premiums has grown at a -5.2% compound annual growth rate (CAGR), from $14.47B to $11.67B.
What does health insurance — net earned premiums mean?
Represents the total earned premiums for the health insurance segment after accounting for both ceded premiums and assumed reinsurance. This is the primary measure of the company's retained revenue from its health insurance operations. It provides the most accurate view of the segment's actual contribution to the company's core insurance earnings.