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Aflac

Logo: aflac.com5

American insurance company

Aflac Incorporated (American Family Life Assurance Company) is an American insurance company and is the largest provider of supplemental insurance in the United States. It was founded in 1955 and is based in Columbus, Georgia.3 From Wikipedia, CC BY-SA 4.0

$118.00 down 0.21 (0.18%)Price as of Oct 15, 2026 at 19:45 UTC

Last updated Oct 16, 2026.

Overview

1955Founded1

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  • TickerAFL on NYSE1
  • IndustryAccident & Health Insurance1
  • HeadquartersColumbus1
  • Websitewww.aflac.com
  • Legal formkabushiki gaisha1
  • Listed onTokyo Stock Exchange (8686), New York Stock Exchange (AFL)1
  • Incorporated inGA6
  • Business address1932 Wynnton Rd, Columbus, Ga 319996
  • Filer categoryLarge accelerated filer6

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AFLAC Tower Columbus Georgia
Photo: Garydunncolumbusgausa, CC BY-SA 3.0, via Wikimedia Commons8

Aflac Incorporated (American Family Life Assurance Company) is an American insurance company and is the largest provider of supplemental insurance in the United States. It was founded in 1955 and is based in Columbus, Georgia. In the U.S., it underwrites a wide range of insurance policies, but is perhaps more known for its payroll deduction insurance coverage, which pays cash benefits when a policyholder has a covered accident or illness. The company states it "provides financial protection to more than 50 million people worldwide".3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

21.2%Net margin9
-9.3%Revenue growth, 20259
12.4%Return on equity9

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Aflac Japan brought in 53% of the revenue Aflac broke down this way in fiscal 2025.

  1. Aflac Japan$9.4B953%down 3% from 2024
  2. Aflac US$6.9B939%up 2% from 2024
  3. Corporate Segment and Other Operating$1.3B97%up 27% from 2024
Business segments by year
Business segments202320242025
Aflac Japan$10.7B$9.7B$9.4B
Aflac US$6.6B$6.7B$6.9B
Corporate Segment and Other Operating$460.0M$1.0B$1.3B

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Selling, general and admin19¢$3.3B
  • Other costs55¢$9.4B
  • Income tax5¢$887.0M
  • Profit21¢$3.6B

Out of $17.2B in revenue.9

Where each dollar of operating cash went, fiscal 2025

  • Dividends paid25¢$1.2B
  • Share buybacks75¢$3.5B

Out of $2.6B of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.9

Financial statements

Revenue101112139$17.2B in 2025−23% since 2019
0$10.0B$20.0B$30.0B2019: $22.3B$22.3B20192020: $22.1B$22.1B2020−1%2021: $21.6B$21.6B2021−3%2022: $19.1B$19.1B2022−11%2023: $18.7B$18.7B2023−2%2024: $18.9B$18.9B2024+1%2025: $17.2B$17.2B2025−9%
Operating income1011$4.2B in 2022−7% since 2019
0$2.0B$4.0B$6.0B2019: $4.5B$4.5B20192020: $4.4B$4.4B2020−1%2021: $4.9B$4.9B2021+12%2022: $4.2B$4.2B2022−16%
Net income101112139$3.6B in 2025+10% since 2019
0$2.0B$4.0B$6.0B2019: $3.3B$3.3B20192020: $4.8B$4.8B2020+45%2021: $4.2B$4.2B2021−11%2022: $4.4B$4.4B2022+4%2023: $4.7B$4.7B2023+5%2024: $5.4B$5.4B2024+17%2025: $3.6B$3.6B2025−33%

Every line of the income statement in the latest annual report, as filed.9

Period ending2025-12-312024-12-312023-12-31
Net earned premiums, principally supplemental health insurance$13.5B$13.4B$14.1B
Net investment income$4.1B$4.1B$3.8B
Net investment gains (losses)-$572.0M$1.3B$590.0M
Other income (loss)$112.0M$100.0M$177.0M
Total revenues$17.2B$18.9B$18.7B
Benefits and claims, excluding reserve remeasurement$8.0B$8.0B$8.6B
Reserve remeasurement (gains) losses-$694.0M-$558.0M-$383.0M
Total benefits and claims, net$7.3B$7.5B$8.2B
Amortization of deferred policy acquisition costs$874.0M$851.0M$816.0M
Insurance commissions$991.0M$998.0M$1.1B
Insurance and other expenses$3.3B$3.0B$3.2B
Interest expense$220.0M$197.0M$195.0M
Total acquisition and operating expenses$5.3B$5.1B$5.2B
Total benefits and expenses$12.6B$12.5B$13.4B
Earnings before income taxes$4.5B$6.4B$5.3B
Current$1.1B$1.3B$1.7B
Deferred-$228.0M-$356.0M-$1.1B
Income taxes$887.0M$974.0M$603.0M
Net earnings$3.6B$5.4B$4.7B
Basic (in dollars per share)$6.84$9.68$7.81
Diluted (in dollars per share)$6.82$9.63$7.78
Basic (in shares)532.9M shares562.5M shares596.2M shares
Diluted (in shares)534.9M shares565.0M shares598.7M shares
Cash dividends per share$2.32$2.00$1.68
Remeasurement gain (loss), deferred profit liability for limited-payment contracts-$52.0M-$81.0M$20.0M

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The story

The company was founded by brothers John, Paul (died 2014), and William Amos in Columbus, Georgia, in 1955, as American Family Life Insurance Company of Columbus. In 1964, the company name was changed to American Family Life Assurance Company of Columbus. The company had an initial public offering in 1974 and was listed on the New York Stock Exchange. In 1990, the company adopted the Aflac acronym, although the official name of the underwriting subsidiary remains American Family Life Assurance Company of Columbus. Aflac announced the appointment of Frederick J. Crawford as Chief Financial Officer and Executive Vice President in June 2015.

The company signed 6,426 policyholders in its first year. Aflac pioneered cancer insurance in 1958. Beginning in 1964, the company decided to focus sales on worksite settings, eventually through policies sponsored by employers and funded through payroll deductions. By 2003, more than 98% of Aflac policies in the United States were issued on a payroll deduction basis, making the company a leader in that approach to policy distribution.

From Wikipedia’s article on Aflac, shared under CC BY-SA 4.0.7

Leadership

Who has led Aflac, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Daniel P. Amos2003–now

Chair

  1. Daniel P. Amos2003–2005
  2. Akitoshi Kan2005–2008
  3. Hidefumi Matsui2005–2007
  4. Charles D. Lake Ii.2009–now

President

  1. Joseph W. Smith Jr.2003–2005
  2. Bryant Allan O.2004–2005
  3. Charles D. Lake Ii.2004–2019
  4. Kenneth S. Janke Jr.2004–2014
  5. Akitoshi Kan2005–2007
  6. Paul S. Amos Ii.2007–2018
  7. Tohru Tonoike2007–2014
  8. Teresa L. White2014–2022
  9. Kriss Cloninger Iii.2015–2017
  10. Masatoshi Koide2017–2018
  11. Frederick John Crawford2020–2023
  12. Virgil Raynard Miller2023–2026
  13. Frederic Jean Guy Simard2026–now

Chief financial officer

  1. Kriss Cloninger Iii.2003–2015
  2. Martin A. Durant2009–2011
  3. Kenneth S. Janke Jr.2010–2013
  4. Frederick John Crawford2015–2019
  5. Steven Kent Beaver2019–2020
  6. James Todd Daniels2020–2023
  7. Max Broden2020–2023
  8. Frederic Jean Guy Simard2023–now

Chief operating officer

  1. Teresa L. White2013–2014
  2. Masatoshi Koide2017–2018
  3. Frederick John Crawford2020–2023
  4. Frederic Jean Guy Simard2025–now
197019801990200020102020
Board members and other officers (65)

Products and brands

Aflac operates in the United States and Japan, and has its worldwide headquarters and corporate offices in an eighteen-story tower just east of Downtown Columbus, Georgia, in an area known as MidTown. The Aflac tower is the tallest building in the city. As of June 30, 2015, the corporation's total assets were more than $103 billion, and the company insured more than 50 million people worldwide.

Aflac is the largest provider of guaranteed-renewable insurance in the United States and the largest insurance company overall in Japan, when measured by individual insurance policies in force.

The company now offers several types of insurance policies in the United States, including the following:

Accident

Read the full text

Cancer/Specified Disease

Dental

Hospital Confinement Indemnity

Hospital Confinement Sickness Indemnity

Hospital Intensive Care

Life

Lump Sum Cancer

Lump Sum Cancer Critical Illness

Specified Health Event

Short Term Disability

Vision

Aflac also offers un-reimbursed medical, dependent day-care, and transportation flexible spending accounts. The company additionally offers human resources services for HIPAA and COBRA. From 1979 to 1997, the company owned several television stations, most of them in small and medium markets. It sold the broadcasting division (including flagship station WTVM) to what became Raycom Media in 1997.

Aflac is ranked 137th in the Fortune 500 list of largest United States corporations by revenue.

From Wikipedia’s article on Aflac, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Owners

  • Aflac Incorporated

From Wikidata.1

Employees over time

  • 202012,0031

Timeline

  1. Aug 21, 2003New chief executive Daniel P. Amos becomes CEO17
  2. Jan 2, 1990Went public Listed on NYSE1
  3. 1955Founded Founded1

Recent filings

  1. Oct 14, 20264 OWNERSHIP DOCUMENT
  2. Oct 14, 20264 OWNERSHIP DOCUMENT
  3. Oct 13, 20264 OWNERSHIP DOCUMENT
  4. Oct 9, 20264 OWNERSHIP DOCUMENT
  5. Oct 8, 20264 OWNERSHIP DOCUMENT
  6. Oct 7, 20264 OWNERSHIP DOCUMENT
  7. Oct 6, 20264 OWNERSHIP DOCUMENT
  8. Oct 5, 20264 OWNERSHIP DOCUMENT
  9. Oct 1, 20264 OWNERSHIP DOCUMENT
  10. Sep 30, 20264 OWNERSHIP DOCUMENT
  11. Sep 29, 20264 OWNERSHIP DOCUMENT
  12. Sep 28, 20264 OWNERSHIP DOCUMENT
  13. Sep 25, 20264 OWNERSHIP DOCUMENT
  14. Sep 24, 20264 OWNERSHIP DOCUMENT
  15. Sep 23, 20264 OWNERSHIP DOCUMENT

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2

Sources

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