AFL · 10-Q · 2026Q3 · Full report

Aflac U.S. Segment Performance

AFLAC INC · 2026-11-05 · Importance 46 · Surprise 56 · From source text

Aflac U.S. pretax adjusted earnings increased 31.5% in the third quarter of 2026 and 9.4% in the first nine months, while total adjusted revenues rose 3.1% and 3.0%, respectively. Third-quarter net earned premiums increased 3.3%, driven by improved sales and strong persistency; annualized premiums in force rose 4.4% to $6.8 billion at September 30, 2026, from $6.5 billion a year earlier. Quarterly benefits and claims fell 7.6%, primarily because reserve remeasurement gains included approximately $138 million from annual cash flow assumption updates, versus $60 million in the prior-year quarter. The third-quarter adjusted expense ratio declined to 37.0% from 38.9%, and the company expects the 2026 Aflac U.S. benefit ratio to be below its prior 48%–52% range.

Key facts

• Aflac U.S. annualized premiums in force increased 4.4% to $6.8 billion at September 30, 2026, from $6.5 billion at September 30, 2025. source
• Aflac U.S. third-quarter 2026 benefits and claims decreased primarily because reserve remeasurement gains included approximately $138 million from annual cash flow assumption updates, compared with $60 million of assumption-related gains in the third quarter of 2025; higher incurred claims for certain group products partly offset the decrease. source
• Aflac U.S. third-quarter 2026 adjusted expenses decreased primarily because of a one-time technology-related expense in the comparative prior-year period and increased capitalization of deferred policy acquisition costs related to short-duration products. source
• Aflac U.S. third-quarter 2026 net earned premiums increased primarily because of improved sales and continued strong persistency. source

Impact estimates