Earnings summaries and quarterly performance for AFLAC.
Executive leadership at AFLAC.
Daniel Amos
Detailed
Chief Executive Officer
CEO
AT
Audrey Tillman
Detailed
Senior Executive Vice President and General Counsel
BD
Bradley Dyslin
Detailed
Executive Vice President and Global Chief Investment Officer; President, Aflac Global Investments
MB
Max Brodén
Detailed
Senior Executive Vice President and Chief Financial Officer
VM
Virgil Miller
Detailed
President, Aflac Incorporated; President, Aflac U.S.
Board of directors at AFLAC.
AC
Arthur Collins
Detailed
Director
GK
Georgette Kiser
Detailed
Director
JM
Joseph Moskowitz
Detailed
Director
KL
Karole Lloyd
Detailed
Director
KR
Katherine Rohrer
Detailed
Director
MF
Michael Forrester
Detailed
Director
MH
Miwako Hosoda
Detailed
Director
NM
Nobuchika Mori
Detailed
Director
TK
Thomas Kenny
Detailed
Director
WP
W. Paul Bowers
Detailed
Lead Non-Management Director
Research analysts who have asked questions during AFLAC earnings calls.
Alex Scott
Barclays PLC
5 questions for AFL
Also covers: ACGL, AIG, AJG +29 more
JB
John Barnidge
Piper Sandler
5 questions for AFL
Also covers: AIZ, AMP, APO +15 more
TG
Thomas Gallagher
Evercore
5 questions for AFL
Also covers: AMP, BHF, CNO +13 more
Ryan Krueger
KBW
4 questions for AFL
Also covers: AMP, ASGN, BHF +14 more
WC
Wesley Carmichael
Autonomous Research
4 questions for AFL
Also covers: ACGL, BHF, CNO +16 more
EG
Elyse Greenspan
Wells Fargo
3 questions for AFL
Also covers: ACGL, AHL, AIG +30 more
Jack Matten
BMO Capital Markets
3 questions for AFL
Also covers: CNO, EQH, GL +5 more
JB
Jamminder Bhullar
JPMorgan Chase & Co.
3 questions for AFL
Also covers: ACGL, ALL, AON +13 more
Suneet Kamath
Jefferies
3 questions for AFL
Also covers: AMP, BHF, CNO +12 more
Wilma Jackson Burdis
Raymond James
3 questions for AFL
Also covers: ALTI, AMP, BHF +12 more
JB
Jimmy Bhullar
JPMorgan Chase & Co.
2 questions for AFL
Also covers: ACGL, ALL, AON +10 more
Joel Hurwitz
Dowling & Partners Securities, LLC
2 questions for AFL
Also covers: CNO, CRBG, EQH +9 more
Michael Ward
Citi Research
2 questions for AFL
Also covers: AN, CPS, CRBG +13 more
NA
Nicholas Annitto
Wells Fargo & Company
2 questions for AFL
Also covers: BHF, EQH
Wilma Burdis
Raymond James Financial
2 questions for AFL
Also covers: ALTI, AMP, APO +12 more
FM
Francis Matten
BMO Capital Markets
1 question for AFL
Also covers: CNO, CRBG, EQH +6 more
Joshua Shanker
Bank of America Merrill Lynch
1 question for AFL
Also covers: ACGL, ALL, AXS +13 more
TS
Taylor Scott
BofA Securities
1 question for AFL
Also covers: ACGL, AJG, BRO +12 more
Recent press releases and 8-K filings for AFL.
AFL recognizes super-subordinated notes as Additional Tier 1 capital
AFL
Debt Issuance
- AFL will waive its exemption from individual prudential requirements and, effective 31 December 2025, recognise its perpetual fixed-rate resettable deeply subordinated notes issued on 17 December 2024 as Additional Tier 1 capital under CRR.
- S&P Global Ratings Europe will downgrade the notes to BBB upon their admission as AT1 debt on the recognition date.
- The inclusion of the notes will bolster AFL’s pro forma capitalisation: a 2.79% leverage ratio and 64.88% solvency ratio as of 30 June 2025.
- This enhanced capital buffer supports AFL’s mission to finance local authorities’ investment needs, particularly for transition-related projects.
Dec 8, 2025, 9:21 AM
Aflac announces 5.2% increase in Q1 2026 dividend
AFL
Dividends
- The Board declared a $0.61 per share dividend for Q1 2026, payable March 2, 2026, to shareholders of record on February 18, 2026.
- This marks a 5.2% increase over the Q4 2025 dividend.
- The raise extends Aflac’s 43-year streak of consecutive dividend increases, supported by robust capital and cash flows, according to CEO Daniel P. Amos.
Nov 11, 2025, 7:03 PM
Aflac reports Q3 2025 results
AFL
Earnings
Dividends
Share Buyback
- Net EPS of $3.08 and adjusted EPS of $2.49 (up 15.3% YoY), driven by $580 million in reinvestment gains and a $0.76 EPS lift from assumption updates.
- Aflac Japan saw an 11.8% YoY sales increase, led by a 42% gain in cancer insurance (Miraito); underlying earned premiums declined 1.2%, with a pre-tax margin of 52.2% and persistency of 93.3%.
- Aflac U.S. generated $390 million in new sales (+2.8% YoY), net earned premiums up 2.5%, benefit ratio improved to 45.6% (down 200 bps), and expense ratio of 38.9% (including a $21 million termination fee).
- Returned $1.3 billion to shareholders via a record $1 billion buyback (9.3 million shares) and $309 million in dividends; unencumbered liquidity of $4.5 billion, leverage at 22%, SMR above 900%, and estimated RBC above 600%.
Nov 5, 2025, 1:00 PM
Aflac reports Q3 2025 earnings results
AFL
Earnings
Dividends
Share Buyback
- Net EPS of $3.08 and adjusted EPS of $2.49, up 15.3% ex-FX year-over-year (Q3 2024: net $(0.17), adjusted $2.16)
- GAAP ROE of 23.5%, adjusted ROE of 19.1%, and adjusted ROE ex-FX of 22.1%, versus 16.7% adjusted ROE in Q3 2024
- Dividends of $1,000 M and share repurchases of $309 M executed in the quarter
- Strong capital position: ESR (Japan) at 230 (target 170) and U.S. combined RBC ratio at 600 (target 350/450); Aflac Japan 2025 guidance: pretax profit margin 35–38%, underlying earned premiums down 1–2%
Nov 5, 2025, 1:00 PM
Aflac reports strong Q3 2025 results
AFL
Earnings
Dividends
Share Buyback
- Net EPS $3.08 vs $(0.17) in Q3 2024; adjusted EPS $2.49 (+15% YoY)
- U.S. GAAP ROE of 23.5% vs –1.5% in Q3 2024; adjusted ROE ex-FX of 22.1%
- Premium persistency remains solid at 93.3% in Japan and 79.0% in the U.S.; adjusted leverage ratio at 22.0%, within target range
- Returned capital of $1.0 B dividends and $309 M share repurchases; 2025 margin guidance intact for Japan (benefit ratio 58–60%, pretax margin 35–38%) and U.S. (pretax margin 17–20%)
Nov 5, 2025, 1:00 PM
Aflac reports Q3 2025 results
AFL
Earnings
Dividends
Share Buyback
- Aflac posted $4.7 billion in Q3 revenues, up 60.7% year-over-year, driven by $275 million of net investment gains versus losses in Q3 2024.
- Net earnings were $1.6 billion (EPS $3.08), compared with a net loss of $93 million (loss per share $0.17) in the year-ago quarter.
- Adjusted earnings grew 9.6% to $1.3 billion, with adjusted EPS of $2.49, a 15.3% increase year-over-year.
- The board declared a $0.58 Q4 dividend and repurchased $1.0 billion of common shares in Q3, leaving 121.6 million shares authorized for future buybacks.
- Aflac Japan sales increased 11.8% and U.S. net earned premiums rose 2.5% in the quarter, highlighting growth across both segments.
Nov 4, 2025, 9:38 PM
Aflac reports Q3 2025 results
AFL
Earnings
Dividends
Share Buyback
- Total revenues of $4.7 billion in Q3 2025 versus $2.9 billion a year ago, driven by net investment gains of $275 million.
- Net earnings of $1.6 billion, or $3.08 per diluted share, compared with net losses of $93 million, or $0.17 per share in Q3 2024.
- Adjusted earnings of $1.3 billion, up 9.6%, and adjusted EPS of $2.49, up 15.3% year-over-year.
- Declared a Q4 dividend of $0.58 per share and repurchased $1.0 billion of common stock (9.3 million shares) in Q3.
- Shareholders’ equity of $28.7 billion, or $54.57 per share, at September 30, 2025.
Nov 4, 2025, 9:05 PM
Aflac reports Q3 2025 earnings update
AFL
Earnings
Guidance Update
Share Buyback
- Adjusted EPS rose 15.3% YoY to $2.49, driven by $580 M in remeasurement gains and a $21 M one-time tech contract termination fee
- In Japan, net earned premiums fell 4%, with a 39.3% benefit ratio, 19.8% expense ratio and 52.2% pretax margin
- In the U.S., net earned premiums grew 2.5%, with a 45.6% benefit ratio, 38.9% expense ratio and 21.7% pretax margin
- Corporate posted $69 M pretax adjusted earnings, enhanced liquidity by $2 B via PCAP trusts, repurchased $1 B of shares, paid $390 M of dividends and maintained 22% leverage with SMR >900% and estimated RBC >600%
- 2025 guidance: Japan benefit ratio 58–60%, expense ratio 20–23%, pretax margin 35–38%; U.S. benefit ratio 48–52%, expense ratio 36–39%, pretax margin 17–20%
Nov 4, 2025, 12:00 PM
Aflac reports Q3 2025 results
AFL
Earnings
Guidance Update
Share Buyback
- Aflac delivered $2.49 adjusted EPS, up 15.3% year-over-year, driven by $580 M of reserve remeasurement gains and a one-time $21 M termination fee; adjusted ROE was 19.1% (22.1% ex-FX) and book value per share rose 6.3%.
- In Japan, net earned premiums fell 4% with an underlying decline of 1.2%, but the benefit ratio improved to 39.3% (down ~10 ppts) aided by a 26.6 ppt reserve gain, and pre-tax margin rose to 52.2%.
- In the U.S., net earned premiums grew 2.5%, benefit ratio improved to 45.6% (-200 bps), expense ratio rose to 38.9% due to the termination fee, and pre-tax margin reached 21.7%; net investment income increased 1.9%.
- Capital and liquidity remain strong with $4.5 B in unencumbered liquidity, 22% leverage, SMR > 900%, combined RBC > 600%, and $1 B in share repurchases plus $309 M in dividends; 2025 guidance: Japan pre-tax margin 35-38% and U.S. margin upper-end 17-20%.
Nov 4, 2025, 12:00 PM
Aflac reports Q3 2025 results
AFL
Earnings
Guidance Update
Share Buyback
- Aflac delivered adjusted EPS of $2.49, up 15.3% YoY, driven by reserve remeasurement gains of $580 million that added $0.76 to EPS.
- Adjusted ROE was 19.1% (22.1% ex-FX), and adjusted book value per share increased 6.3% excluding foreign‐currency effects.
- In Japan, net earned premiums fell 4% (underlying –1.2%), benefit ratio improved to 39.3% (down ~10 pp), expense ratio was 19.8%, and pre-tax margin reached 52.2%.
- In the U.S., net earned premiums rose 2.5%, benefit ratio declined to 45.6% (–200 bp), expense ratio increased to 38.9% due to a $21 million contract termination fee, and pre-tax margin was 21.7%.
- Corporate and other: $69 million pre-tax adjusted earnings, $2 billion raised via PCAP trusts, leverage at 22%, $1 billion repurchased, $309 million in dividends; 2025 guidance reaffirmed for benefit, expense ratios, and profit margins in Japan and the U.S.
Nov 4, 2025, 12:00 PM
Quarterly earnings call transcripts for AFLAC.
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