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

Other product segments

Medical and other health
-$1.4B-238%
Critical care
-$360M+7.5%
Accident
-$148M+7.5%
Hospital indemnity
-$75M+12.8%
Disability
-$62M+13.9%
Other
-$21M-262%
Dental/vision
-$9M+18.2%

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-$22.6M+15.7%
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HMNExperience Life Insurance — Effect of changes in discount rate assumptions
$28.9M-24.9%
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HMNWhole Life Insurance — Effect of changes in discount rate assumptions
-$119M-10.7%
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HMNExperience life — Effect of changes in discount rate assumptions
$1.4M-22.2%
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CINFTerm Life Insurance — Effect of changes in discount rate assumptions
-$117M-7.3%

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:AociLiabilityForFuturePolicyBenefitExpectedNetPremiumBeforeTax.

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 changes in discount rate assumptions?
Aflac (AFL) reported life insurance — effect of changes in discount rate assumptions of -$345M in Q1 2026.
How has Aflac's life insurance — effect of changes in discount rate assumptions changed year-over-year?
Aflac's life insurance — effect of changes in discount rate assumptions decreased by 320.7% year-over-year, from -$82M to -$345M.
What is the long-term trend for Aflac's life insurance — effect of changes in discount rate assumptions?
Over 2 years (2023 to 2025), Aflac's life insurance — effect of changes in discount rate assumptions has grown at a -8.2% compound annual growth rate (CAGR), from $766M to -$646M.
What does life insurance — effect of changes in discount rate assumptions mean?
This metric quantifies the change in the present value of future life insurance policy benefits resulting from adjustments to the discount rate used in actuarial calculations. Changes in interest rate environments require insurers to update these assumptions, directly impacting the reported liability balance. It is a key indicator of interest rate sensitivity within the insurance portfolio.