Aflac Incorporated
aflac.comWhat Do They Do?
Sells supplemental health and life insurance, including cancer and medical coverage, to consumers in Japan and the United States.
10-K for FY2025, filed Feb 25, 2026Aflac Incorporated (the Parent Company) was incorporated in 1973 under the laws of the state of Georgia. The Parent Company and its…View ↗
The Company's strategy for growth in Japan and the U.S. has remained straightforward and consistent for many years. The Company develops…View ↗
Aflac Japan's third sector insurance products are supplemental products designed to help consumers pay for medical and nonmedical costs…View ↗
The Company designs its U.S. insurance products to provide supplemental coverage for people who already have major medical or primary…View ↗
How Do They Make Money?
-
10-K for FY2025, filed Feb 25, 2026
FY2025 revenue by reportable segment ↗
$17.2B
-
10-K for FY2025, filed Feb 25, 2026
$17.2B ↗
| Segment | Share | Revenue |
|---|---|---|
|
Aflac Japan
|
55%
FY2022: 62%
|
Aflac Japan, FY2025
$9.4B Sources
|
|
Aflac U.S.
|
40%
FY2022: 34%
|
Aflac U.S., FY2025
$6.9B Sources
|
|
Corporate and other
|
7.4%
FY2022: 1.4%
|
Corporate and other, FY2025
$1.3B Sources
|
Who Are Their Customers?
Japanese consumers buy through sales agencies, banks and postal outlets. In the United States, individuals and employers are reached through agents and brokers, primarily at workplaces, and through digital marketing.
10-K for FY2025, filed Feb 25, 2026Traditional Sales Channel This distribution channel includes individual agencies, independent corporate agencies and affiliated corporate…View ↗
Japan Post Group Aflac Japan's alliance with Japan Post Group, which is included in Aflac Japan's affiliated corporate agencies…View ↗
Banks Consumers in Japan rely on banks to provide not only traditional bank services, but also as one key source to provide insurance…View ↗
Independent Associates/Career Agents The career agent channel in Aflac U.S. focuses on marketing Aflac to the small business market…View ↗
Brokers The broker channel of Aflac U.S. focuses on selling to the mid- and large-case market, which is comprised of employers with 100 or…View ↗
Consumer Markets While Aflac U.S. primarily markets its insurance products at the worksite, Aflac U.S. is also expanding its distribution…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 21 cents of every revenue dollar as net income in FY2025.
10-K for FY2025, filed Feb 25, 2026
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 7, 2026
Open tableView ↗
Shrinking. Revenue fell 20% in 4 years, from $21.6B in FY2021 to $17.2B in FY2025, about 6% a year.
Japan life products Japan's life offering adds a product aimed at retirement preparation, with savings and nursing-care features.
U.S. digital sales
The U.S. is extending digital sales beyond the worksite to reach consumers directly, whereas the earlier report described a broader shift to digital sales methods.
10-K for FY2022, filed Feb 24, 2023 10-K for FY2025, filed Feb 25, 2026The Company has continued to develop and expand its product offerings over time. In Japan, the Company is cultivating an innovation-driven…View ↗
Consumer Markets While Aflac U.S. primarily markets its insurance products at the worksite, Aflac U.S. is also expanding its distribution…View ↗
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