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Company Overview
About Aflac
Aflac Incorporated is a Columbus, Georgia-based supplemental health and life insurance company — publicly traded on the New York Stock Exchange (NYSE: AFL) as an S&P 500 Financials component — providing voluntary, payroll-deducted supplemental insurance policies that pay cash benefits directly to policyholders when they experience a covered illness, injury, or medical event, operating in the United States and Japan through approximately 11,500 employees and 70,000+ US agents and brokers. Aflac is the largest supplemental insurance provider in the United States and the largest insurance company in Japan (where approximately 1 in 4 Japanese households holds an Aflac policy). In fiscal year 2024, Aflac reported full-year revenue of $19.13 billion and net income of $5.44 billion, with Q4 2024 revenues of $5.4 billion and net earnings of $1.9 billion ($3.42 diluted EPS) — and the company announced a 16% dividend increase for Q1 2025, reflecting the business's strong capital generation. CEO Dan Amos has led Aflac since 1990, building one of the most recognized insurance brands globally through the Aflac Duck mascot (introduced 2000) that made Aflac's name synonymous with voluntary supplemental insurance in the United States. Aflac Japan generates the majority of Aflac's earnings through cancer insurance, medical insurance, and income support policies sold through bank channel partnerships (Japan Post Bank, major regional banks) and traditional agents.
Business Model & Competitive Advantage
Aflac's supplemental insurance model fills the critical healthcare coverage gap that major medical insurance does not address: when a policyholder is diagnosed with cancer and undergoes treatment, their major medical insurance covers hospital bills and physician fees — but not the everyday expenses that accumulate during treatment: mortgage payments, car insurance, utility bills, childcare, transportation to treatment, and income replacement during recovery. Aflac's cancer, accident, critical illness, and disability policies pay a predetermined cash lump sum or daily benefit directly to the policyholder (not to the hospital or provider), giving the insured freedom to use the benefit for any financial need during their medical crisis. The worksite distribution model (policies sold through employers as voluntary, employee-paid benefits with payroll deduction) creates low acquisition cost per policy (employers facilitate enrollment), persistently high retention (automatic payroll deduction removes the lapse trigger), and tax advantages for employers (no cost to offer) and employees (pre-tax premium payments in Section 125 plans).
Competitive Landscape 2025–2026
In 2025, Aflac competes in voluntary supplemental insurance and worksite benefits against Unum Group (NYSE: UNM, disability and supplemental, $12.7B revenue), MetLife (NYSE: MET, group benefits, $54B revenue), and Colonial Life (Unum subsidiary, worksite voluntary benefits) for employer worksite voluntary benefits distribution and individual supplemental insurance policy sales. Aflac Japan's competitive environment includes domestic Japanese insurers (Tokio Marine, Nippon Life, Dai-ichi Life) for cancer and medical insurance products in a market where Aflac has held a dominant position since 1974. The 16% dividend increase announced for Q1 2025 signals Aflac's capital management discipline — returning capital through both dividends and share buybacks — consistent with the company's history of 40+ consecutive years of dividend increases. The 2025 strategy focuses on growing US voluntary benefits sales through expanded broker distribution and digital enrollment platforms, maintaining Aflac Japan's premium persistency in an aging Japanese population with high supplemental insurance demand, and deploying excess capital through share repurchases.
The Aflac Story
Founders
Recent Activity
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Major milestones in Aflac's journey
Leadership Team
Meet the leaders behind Aflac
Daniel P. Amos
Daniel Paul Amos is the son of Aflac co-founder Paul Amos. He joined Aflac in 1973 and worked in sales for 10 years as the company's top salesperson before being named president in 1983, chief operating officer in 1987, and CEO in 1990. At age 72, Dan Amos is the fifth-longest-serving CEO of any Fortune 500 company. During his tenure as CEO, revenues have grown from $2.7 billion in 1990 to $22.1 billion. He became President in addition to his CEO and Chairman roles effective January 1, 2024. His leadership has been credited with transforming Aflac into an international insurance powerhouse.
Virgil Miller
Virgil Miller was promoted to President of Aflac Incorporated effective January 1, 2025, expanding from his previous role as Aflac U.S. President. This expanded role represents a significant shift in the company's executive structure and has prompted speculation about succession planning as Dan Amos continues as Chairman and CEO.
Max Broden
Max Broden was promoted to Senior Executive Vice President and Chief Financial Officer effective January 2025. He leads Aflac's financial strategy, planning, accounting, reporting, treasury, tax, and investor relations functions, overseeing the company's $19+ billion in annual revenue and $57.5 billion market capitalization.
Audrey Boone Tillman
Audrey Boone Tillman was promoted to Senior Executive Vice President and General Counsel effective January 2025. She oversees Aflac's legal affairs, compliance, regulatory matters, and corporate governance across the company's operations in the United States and Japan.
Key Differentiators
Market Leader
Aflac is recognized as a market leader in the Consumer Finance sector, demonstrating strong industry presence and customer trust.
Frequently Asked Questions
Estimated Visibility Trend (Beta)
Simulated 8-week rolling score
Based on estimated brand signals. Historical tracking coming soon.
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