AFLNYSE

AFLAC INC

Accident & Health Insurance · GA · CIK 4977

AFLAC INC provides insurance products and services, focusing on pretax adjusted earnings as a key performance measure

⚡ Elevated coverage

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$59.96B

Market cap

$117.25

Last close

-2.4%

-1.3%

2.3M

Volume

Price · last 40 sessions+3.5%

May 4L $112.11 · H $120.15Jun 30

197

Total filings

Jun 23, 2026

Last filing

12/31

Fiscal year end

All 8-K · 107 10-Q · 30 DEFA14A · 13 DEF 14A · 10 11-K · 10 10-K · 10 424B5 · 8 SC 13G · 8

11-K11-KJun 23, 2026 11-K11-KJun 23, 2025 11-K11-KJun 21, 2024 11-K11-KJun 21, 2023 11-K11-KJun 21, 2022 11-K

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Insider Activity

In the 90 days to Mar 27, 2026: 6 sold $40.3M.

Date	Insider	Action	Shares	Price	Value
Mar 27, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	7,336	$106.60	$782K
Mar 27, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	5,801	$107.91	$626K
Mar 27, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	1,363	$108.45	$148K
Mar 26, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	7,514	$107.79	$810K
Mar 26, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	7,386	$108.17	$799K
Mar 25, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	14,200	$107.03	$1.5M
Mar 25, 2026	Lake Charles D IiChairman & Rep. Director, ALIJ	Sell	5,000	$107.27	$536K
Mar 24, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	14,000	$106.34	$1.5M
Mar 23, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	14,895	$106.78	$1.6M
Mar 23, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	105	$107.36	$11K
Mar 20, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	14,851	$106.33	$1.6M
Mar 20, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	1,949	$107.53	$210K
Mar 19, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	8,800	$107.28	$944K
Mar 19, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	1,300	$108.28	$141K
Mar 18, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	7,993	$108.14	$864K
Mar 18, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	4,207	$108.99	$459K
Mar 17, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	15,700	$109.77	$1.7M
Mar 16, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	15,816	$109.38	$1.7M
Mar 16, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	284	$110.13	$31K
Mar 13, 2026	Japan Post Holdings Co., Ltd.TenPercentOwner	Sell	15,943	$109.06	$1.7M

Open-market buys & sells (Form 4, transaction codes P/S). Source: SEC structured insider data.

What Changed

Risk factors · Feb 26, 2025 → Feb 25, 2026

56 added · 62 removed between the two most recent 10-Ks. The risks a company starts — or stops — disclosing are often the story.

Newly disclosed

As a result, events such as these, including the June 2025 cyber incident where the Company became aware of the exfiltration of certain personal information relating to a substantial number of customers, beneficiaries, employees, agents, and other individuals in the Company’s U.S. business, could adversely affect the Company's financial condition or results of operations due to incurred costs and remediation.
Although data leakage issues the Company has experienced, as of the date of this report, have not been determined to have a reasonably likely material impact on the Company's financial condition or results of operations, the Company's security systems or processes may not prevent or mitigate future break-ins, tampering, security breaches or other cyber-related attacks.
The Company could also be subject to legal risk, including government enforcement action and civil litigation, related to cyber-attacks and security breaches, which could adversely affect the Company’s business, reputation, financial condition or results of operations.
The rapid evolution and increased adoption of artificial intelligence technologies may also heighten the Company's cybersecurity risks by making cyber-attacks more difficult to detect, contain, and mitigate.
Human Resources operate as centralized compensation functions, providing guidance and oversight to management teams to ensure pay aligns with job scope, responsibilities, and duties.
This regulation requires, among other things, risk assessments, administrative and technical controls, incident reporting procedures, business continuity plans, and certain cybersecurity governance, such as the designation of a Chief Information Security Officer and senior governing body oversight.
Economic uncertainty is also impacted by potential policy changes in the U.S., including proposed domestic regulations focused on consumer pricing, trade tariffs and increasing trade restrictions driven by security concerns and broader geopolitical tensions.
Government actions to stimulate the economy affect the value of the Company's existing holdings, its reinvestment rate on new investments in JGBs or other Japanese yen-denominated assets, and consumer behavior relative to the Company's suite of insurance products.
In addition, uncertainty regarding the timing, pace and magnitude of future interest rate changes could further increase fluctuations in the value of the Company’s assets and liabilities and adversely affect its capital position and liquidity.
Some of the U.S. dollar-denominated asset classes that the Company has added, and anticipates continuing to add, have less liquidity than investment-grade corporate bonds and in periods of market stress, certain of these U.S. dollar-denominated asset classes may experience significantly reduced liquidity, increased valuation uncertainty or wider bid-ask spreads.
Risk Factors Aflac Japan's U.S. dollar-denominated investments are associated with existing U.S. dollar-denominated investments that continue to be hedged, previously hedged investments that continue to be held but are no longer hedged, and investments previously hedged that have since been sold, matured or redeemed and may or may not have not been converted to Japanese yen.
GAAP, U.S. dollar denominated assets and liabilities held by Aflac Japan are remeasured to Japanese yen and Japanese yen-denominated assets and liabilities held by Aflac Re are remeasured to U.S. dollar with the resulting foreign currency remeasurement for certain of these assets and liabilities included in earnings.

No longer disclosed

For example, the National Institute of Standards and Technology (NIST) issued an updated version of the Cybersecurity Framework as well as guidelines on managing risks associated with the use of artificial intelligence and the Cybersecurity & Infrastructure Security Agency (CISA) published additional security guidelines related to ransomware and software security.
Although the minor data leakage issues the Company has experienced to date have not had a material effect on its business, there is no assurance that the Company's security systems or processes will prevent or mitigate future break-ins, tampering, security breaches or other cyber-related attacks.
For example, Aflac Japan’s Leadership Program allows select managers to participate in a comprehensive training program to learn about innovation and the global business environment.
Although not all apply to Aflac U.S. operations, examples of these types of legislation include the California Consumer Privacy Act (CCPA), California Privacy Rights Act (CPRA), UK General Data Protection Regulation (UK GDPR), UK Data Protection Act of 2018 (UK DPA), Connecticut Data Privacy Act (CDPA), Utah Consumer Privacy Act (UCPA), Virginia Consumer Data Protection Act (VCDPA), Colorado Privacy Act (CPA), Oregon Consumer Privacy Act (OCPA), Montana Consumer Data Privacy Act (MCDPA) and Nebraska Data Privacy Act (NDPA).
High rates of inflation globally from 2022 continued to be reduced due to monetary tightening in many countries and normalization of certain trends after COVID-19, including supply chain recovery and phasing out of extraordinary fiscal support.
In addition, the continuing difference between interest rates in the U.S. and Japan contributed to a weakening of the yen over 2024, which had the effect of suppressing the Company's current period results in relation to the comparable prior period.
Aflac Japan implemented a human capital management system, beginning in January 2021 with managers and more senior leadership positions and in January 2022 with all other employees.

Department of the Treasury to monitor all aspects of the insurance industry and of lines of business other than certain health insurance, certain long-term care insurance and crop insurance. • Privacy and Cybersecurity In the absence of a comprehensive federal privacy law, states are making a push towards privacy legislation.

Over the last several years, processes have developed to support the data subject request process required by CCPA, privacy impact assessments have been implemented as required by CPRA and a dedicated privacy and security center has been added to the Company website to provide consumers with information about the use of and protection of their data.

Human Resources divisions operate as centralized internal compensation functions to provide oversight and input to the respective management teams with the objective of providing compensation that is consistent with job scope, duties and responsibilities.

Aflac U.S. provides an employee engagement survey every other year to employees to gather their views on company culture and satisfaction, and works with its leadership to monitor continuous improvements and enhance the employee experience. 11 Item 1.

AFLAC INC

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