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Aflac AFL Life insurance — Effect of change in discount rate assumptions

Other product segments

Other
-$1.12B-63.5%
Accident
-$211M+4.5%
Hospital Indemnity
-$146M+5.2%
Disability
-$96M+11.9%
Dental/Vision
-$27M+10.0%

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$28.9M-24.9%
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KMPRTerm Life Insurance — Effect of Changes in Discount Rate Assumptions
-$22.6M+15.7%
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HMNWhole Life Insurance — Effect of changes in discount rate assumptions
-$119M-10.7%
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$1.4M-22.2%
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HMNWhole Life — Effect of changes in discount rate assumptions
-$30.2M+2.6%

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:AociLiabilityForFuturePolicyBenefitExpectedFuturePolicyBenefitBeforeTax.

The official record: Aflac’s 10-Q, filed May 6, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Aflac's life insurance — effect of change in discount rate assumptions?
Aflac (AFL) reported life insurance — effect of change in discount rate assumptions of -$5.58B in Q1 2026.
How has Aflac's life insurance — effect of change in discount rate assumptions changed year-over-year?
Aflac's life insurance — effect of change in discount rate assumptions decreased by 70.4% year-over-year, from -$3.28B to -$5.58B.
What is the long-term trend for Aflac's life insurance — effect of change in discount rate assumptions?
Over 2 years (2023 to 2025), Aflac's life insurance — effect of change in discount rate assumptions has grown at a 252.4% compound annual growth rate (CAGR), from -$1.37B to -$16.99B.
What does life insurance — effect of change in discount rate assumptions mean?
This metric represents the financial impact resulting from adjustments to the discount rate assumptions used to calculate the present value of future policy benefit liabilities. Changes in these rates reflect shifts in the economic environment, such as interest rate fluctuations, which directly alter the actuarial valuation of long-term insurance obligations. It is a critical indicator of how sensitive the company's balance sheet is to macroeconomic interest rate volatility.