COLUMBUS, Ga., Jan. 3, 2018 /PRNewswire/ -- Aflac
Incorporated (NYSE: AFL) announced today the establishment of its
new subsidiary Aflac Asset Management LLC (branded as Aflac Global
Investments) as part of the broader conversion of the Aflac Japan
branch to a subsidiary, which is expected to take place as early as
April 1, 2018. Eric M. Kirsch has been named president of Aflac
Asset Management LLC, while continuing to serve in his role as
executive vice president and global chief investment officer.
Additionally, the company created a subsidiary of Aflac Asset
Management LLC called Aflac Asset Management Japan Ltd.
Hideto Yamamoto has been named
president of Aflac Asset Management Japan Ltd., while continuing to
serve in his role as senior vice president and chief investment
officer of Aflac Japan, reporting to Eric
Kirsch.
Aflac Global Investments will maintain its organizational
structure and continue in its role within Aflac as the entity that
manages the general account investment portfolios of Aflac Japan
and Aflac U.S.
Commenting on the announcement, Aflac Incorporated Executive
Vice President and Chief Financial Officer Frederick J. Crawford said: "The expertise,
knowledge and leadership that has guided Aflac Global Investments
over the last six years has been very instrumental in shaping the
success of Aflac over this period. The creation of these asset
management subsidiaries further enables Eric, Yamamoto-san and the
entire Aflac Global Investments team to continue managing the
portfolios of Aflac's subsidiaries and delivering the high level of
service that benefits Aflac and all our constituents."
ABOUT AFLAC
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For more than six decades, Aflac
insurance policies have given policyholders the opportunity to
focus on recovery, not financial stress. In the United States, Aflac is the leader in
voluntary insurance sales at the worksite. Through its trailblazing
One Day PaySM initiative, Aflac U.S. can receive,
process, approve and disburse payment for eligible claims in one
business day. In Japan, Aflac is
the leading provider of medical and cancer insurance and insures 1
in 4 households. Aflac insurance products help provide protection
to more than 50 million people worldwide. For 11 consecutive years,
Aflac has been recognized by Ethisphere as one of the World's Most
Ethical Companies. In 2017, Fortune magazine recognized Aflac as
one of the 100 Best Companies to Work for in America for the 19th
consecutive year and in 2017 included Aflac on its list of Most
Admired Companies for the 16th time. Aflac Incorporated is a
Fortune 500 company listed on the New York Stock Exchange under the
symbol AFL. To find out more about Aflac and One Day
PaySM, visit aflac.com or aflac.com/espanol.
Analyst and investor contact – David A.
Young, 706.596.3264 or 800.235.2667;
FAX: 706.324.6330 or dyoung@aflac.com
Media contact – Catherine H.
Blades, 706.596.3014; FAX: 706.320.2288 or
cblades@aflac.com
Forward-looking Information
The Private Securities
Litigation Reform Act of 1995 provides a "safe harbor" to encourage
companies to provide prospective information, so long as those
informational statements are identified as forward-looking and are
accompanied by meaningful cautionary statements identifying
important factors that could cause actual results to differ
materially from those included in the forward-looking statements.
We desire to take advantage of these provisions. This report
contains cautionary statements identifying important factors that
could cause actual results to differ materially from those
projected herein, and in any other statements made by Company
officials in communications with the financial community and
contained in documents filed with the Securities and Exchange
Commission (SEC).
Forward-looking statements are not based on historical
information and relate to future operations, strategies, financial
results or other developments. Furthermore, forward-looking
information is subject to numerous assumptions, risks and
uncertainties. In particular, statements containing words such as
"expect," "anticipate," "believe," "goal," "objective," "may,"
"should," "estimate," "intends," "projects," "will," "assumes,"
"potential," "target", "outlook" or similar words as well as
specific projections of future results, generally qualify as
forward-looking. Aflac undertakes no obligation to update such
forward-looking statements. We caution readers that the following
factors, in addition to other factors mentioned from time to time,
could cause actual results to differ materially from those
contemplated by the forward-looking statements: difficult
conditions in global capital markets and the economy; exposure to
significant interest rate risk; concentration of business in
Japan; foreign currency fluctuations in the yen/dollar
exchange rate; failure to execute or implement the
conversion of the Japan branch
conversion to a legal subsidiary; limited availability of
acceptable yen-denominated investments; deviations in actual
experience from pricing and reserving assumptions; ability to
continue to develop and implement improvements in information
technology systems; governmental actions for the purpose of
stabilizing the financial markets; interruption in
telecommunication, information technology and other operational
systems, or a failure to maintain the security, confidentiality or
privacy of sensitive data residing on such systems; ongoing changes
in our industry; failure to comply with restrictions on patient
privacy and information security; extensive regulation and changes
in law or regulation by governmental authorities; defaults and
credit downgrades of our investments; ability to attract and retain
qualified sales associates and employees; decline in
creditworthiness of other financial institutions; subsidiaries'
ability to pay dividends to Aflac Incorporated; decreases in our
financial strength or debt ratings; inherent limitations to
risk management policies and procedures; concentration of our
investments in any particular single-issuer or sector; differing
judgments applied to investment valuations; ability to effectively
manage key executive succession; significant valuation judgments in
determination of amount of impairments taken on our investments;
catastrophic events including, but not necessarily limited to,
epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis,
acts of terrorism and damage incidental to such events; changes in
U.S. and/or Japanese accounting standards; loss of consumer trust
resulting from events external to our operations; increased
expenses and reduced profitability resulting from changes in
assumptions for pension and other postretirement benefit plans;
level and outcome of litigation; failure of internal controls or
corporate governance policies and procedures; and other risks and
uncertainties described from time to time in Aflac Incorporated's
filings with the SEC.
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SOURCE Aflac Incorporated