AFL · 10-Q · 2026Q2 · Full report

Market Demand Trends

AFLAC INC · 2026-08-07 · Importance 39 · Surprise 50

Aflac Japan’s net earned premiums decreased 12.7% in U.S. dollars in the second quarter of 2026 and 3.7% in Japanese yen, primarily because an external reinsurance transaction reduced premiums by approximately ¥4 billion and limited-pay products reaching premium-paid-up status reduced premiums by approximately ¥3 billion. For the first six months, yen-denominated net earned premiums declined 3.8%, with approximately ¥8 billion attributable to the reinsurance transaction and approximately ¥7 billion to limited-pay products becoming paid-up. Annualized premiums in force declined 2.7% year over year to ¥1.16 trillion, while Aflac Japan maintained approximately 22 million individual policies, including approximately 14 million cancer policies. The premium contraction reflects portfolio maturation and product payment transitions rather than a reported loss of policyholders, although the company did not provide new-sales or order data in this section.

Key facts

• Aflac Japan states third sector products (cancer, medical and other) are the foundation of its product portfolio and expects need for third sector products will continue to rise in the future. source