Life and health insurance company Aflac Incorporated, through its subsidiaries in Japan and the United States, announced that Aflac Re Bermuda Ltd. (Aflac Re) has entered into an agreement with Japan Post Insurance Company to reinsure a portion of life annuities through coinsurance, effective March 31, 2026.
This marks Aflac Re’s first reinsurance transaction with an external party. Japan Post Insurance Company will continue to provide services and administer these policies.
Max Brodén, senior executive vice president and chief financial officer of Aflac Incorporated, said: “This transaction marks an important milestone in the history of Aflac Incorporated and Aflac Re.
“While Aflac Re has secured several reinsurance transactions from Aflac Life Insurance Japan, this is the first with an external party. Additionally, this transaction further contributes to our strategic partnership with Japan Post Insurance as we aim to create shared value for policyholders and shareholders.”
Tsana Nobles, president of Aflac Re Bermuda, added: “We look forward to continuing our partnership with Japan Post Insurance. We also look forward to leveraging our expertise to provide similar support to other Japanese life insurance companies to reduce risks, strengthen their capital management and expand new business opportunities.”
