Aflac Incorporated, a life and health insurer through its subsidiaries in Japan and the U.S., has announced that Aflac Re Bermuda Ltd. (Aflac Re) has agreed with Japan Post Insurance Co., Ltd. to reinsure a block of whole life annuities through coinsurance, effective 31st March 2026.
This marks Aflac Re’s first reinsurance transaction with an external party. Japan Post Insurance will continue to service and administer the policies.
Max Brodén, Senior Executive Vice President, Chief Financial Officer of Aflac Incorporated, said, “This transaction marks a significant milestone in the history of Aflac Incorporated and Aflac Re.
“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.”
Tsana Nobles, President of Aflac Re Bermuda, 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.”
