Aflac Re Reinsures Japan Post Annuities
Aflac Re Bermuda Ltd. has reached an agreement with Japan Post Insurance Co., Ltd. to reinsure a block of whole life annuities through coinsurance,
A spokesperson said, “Aflac Incorporated [NYSE: AFL], the leading life and health insurer through its subsidiaries in Japan and the U.S., today announced that Aflac Re Bermuda Ltd. [Aflac Re] has reached an agreement with Japan Post Insurance Co., Ltd. [Japan Post Insurance] to reinsure a block of whole life annuities through coinsurance. Japan Post Insurance will continue to service and administer the policies. The transaction will be effective March 31, 2026.”
“This transaction marks a significant milestone in the history of Aflac Incorporated and Aflac Re,” said Max Brodén, Senior Executive Vice President, Chief Financial Officer of Aflac Incorporated. “While Aflac Re has secured multiple reinsurance transactions from Aflac Life Insurance Japan, this is the first transaction with an external party. In addition, this transaction further contributes to our strategic partnership with Japan Post Insurance as we aim to create shared value for both our policyholders and shareholders.”
President of Aflac Re Bermuda Tsana Nobles added, “We look forward to continuing to build our relationship with Japan Post Insurance. We also look forward to leveraging our expertise to provide similar support for other Japanese life insurers to reduce risk, enhance their capital management and expand their new business opportunities.”
