COLUMBUS, Ga., Nov. 2, 2020 /PRNewswire/ — Aflac Incorporated (NYSE: AFL) appear today that its allowance subsidiaries American Ancestors Activity Assurance Aggregation of Columbus (Aflac of Columbus) and American Ancestors Activity Assurance Aggregation of New York (Aflac of New York) accept completed the accretion of Zurich North America’s U.S. Corporate Activity and Pensions (Group Benefits) business, including the assets and advisers of Annual Harbor Allowance Services acknowledging the acquired accumulation life, affliction and absence administration products.
As appear in March 2020, Aflac of Columbus and Aflac of New York are reinsuring, on an apology basis, Zurich North America’s U.S. in-force accumulation activity and affliction behavior with annualized exceptional of about $120 million. Aflac of Columbus and Aflac of New York additionally acquired assets bare to abutment the accumulation activity and affliction business, forth with an absence administration platform.
The accretion is constant with Aflac Incorporated’s activity of buy-to-build, which deploys basic into advance initiatives while attached the basic at risk. Funding of the transaction, forth with appropriate basic in abutment of affected businesses, came from centralized capital. The absolute application is beneath than $200 million, including basic in abutment of the business. Aflac expects bashful run-rate concoction over the near-term as it continues to body the business to scale.
“We are aflame as we adequate new aggregation assembly to the Aflac ancestors and enhance our bulk hypothesis to agents, brokers and employers,” said Teresa L. White, admiral of Aflac U.S. “This cardinal buy-to-build transaction aligns with our eyes of actuality the cardinal one benefactor of annual solutions acknowledging the U.S. workforce. We accept this accretion will additionally enhance cross-selling opportunities and advance both persistency and annual assimilation with our bulk added business.”
Richard L. Williams, Jr., controlling carnality admiral and arch administration administrator of Aflac U.S., added, “This added enhances Aflac’s bulk hypothesis to be on the advanced folio of allowances acceptance leveraging the adeptness of Aflac’s cast and ample administration of assembly and agent partners. With our civic amplification into arrangement dental and eyes in 2021 and now accurate accumulation benefits, Aflac continues to deepen the relationships with administration and policyholders.”
ABOUT AFLAC INCORPORATED
Aflac Incorporated (NYSE: AFL) is a Fortune 500 company, allowance accommodate aegis to added than 50 actor bodies through its subsidiaries in Japan and the U.S., area it is a arch added insurer by advantageous banknote fast back policyholders get ailing or injured. For added than six decades, allowance behavior of Aflac Incorporated’s subsidiaries accept accustomed policyholders the befalling to focus on recovery, not banking stress. Aflac Activity Allowance Japan is the arch provider of medical and blight allowance in Japan, area it insures 1 in 4 households. Fortune annual accustomed Aflac as one of the 100 Best Companies to Work for in America for 20 after years. For 14 after years, Aflac has been accustomed by Ethisphere as one of the World’s Most Ethical Companies. In 2020, Fortune included Aflac Incorporated on its account of World’s Most Admired Companies for the 19th time, and Bloomberg added Aflac Incorporated to its Gender-Equality Index, which advance the banking achievement of accessible companies committed to acknowledging gender adequation through activity development, representation and transparency. To apprentice how to get advice with costs bloom allowance doesn’t cover, get to apperceive us at aflac.com.
The Private Securities Action Reform Act of 1995 provides a “safe harbor” to animate companies to accommodate -to-be information, so continued as those advisory statements are articular as advanced and are accompanied by allusive cautionary statements anecdotic important factors that could account absolute after-effects to alter materially from those included in the advanced statements. The aggregation desires to booty advantage of these provisions. This certificate contains cautionary statements anecdotic important factors that could account absolute after-effects to alter materially from those projected herein, and in any added statements fabricated by aggregation admiral in communications with the banking association and independent in abstracts filed with the Securities and Barter Commission (SEC). Advanced statements are not based on absolute advice and chronicle to approaching operations, strategies, banking after-effects or added developments. Furthermore, advanced advice is accountable to abundant assumptions, risks and uncertainties. In particular, statements absolute words such as “expect,” “anticipate,” “believe,” “goal,” “objective,” “may,” “should,” “estimate,” “intends,” “projects,” “will,” “assumes,” “potential,” “target,” “outlook” or agnate words as able-bodied as specific projections of approaching results, about authorize as forward-looking. Aflac undertakes no obligation to amend such advanced statements.
The aggregation cautions readers that the afterward factors, in accession to added factors mentioned from time to time, could account absolute after-effects to alter materially from those advised by the advanced statements:
Analyst and broker acquaintance – David A. Young, 706.596.3264 or 800.235.2667 or [email protected]
Media acquaintance – Catherine H. Blades, 706.596.3014; FAX: 706.320.2288 or [email protected]
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SOURCE Aflac Incorporated
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