AFLAC INC
For the period ended Jun 30, 2024. Filed Aug 1, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 1, 2024
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Policy Liabilities
The following table presents policy liabilities by segment.
| (In millions) · June 30,2024 · December 31, 2023 · % Change | ||||
|---|---|---|---|---|
| Aflac Japan | $67,236 | $81,167 | (17.2)% | (1) |
| Aflac U.S. | 11,124 | 11,600 | (4.1) | |
| Corporate and other | 3,217 | 3,979 | (19.2) | |
| Intercompany eliminations(2) | (4,224) | (5,147) | (17.9) | |
| Total | $77,353 | $91,599 | (15.6)% | |
(1) Aflac Japan’s policy liabilities decreased 5.9% in yen during the six months ended June 30, 2024.
(2) Elimination entry necessary due to the internal reinsurance transactions with Aflac Re and to recapture of a portion of policy liabilities ceded externally as a result of the reinsurance retrocession transaction. See Note 8 of the Notes to the Consolidated Financial Statements in the 2023 Annual Report.
See Note 7 of the Notes to the Consolidated Financial Statements for additional information on the Company's policy liabilities.
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