Aflac Re Bermuda Ltd. has reached an agreement with Japan Post Insurance Co., Ltd. to reinsure a block of whole life annuities through coinsurance, effective March 31, 2026. Japan Post Insurance will continue to service and administer the policies.

The transaction represents the first external reinsurance deal for Aflac Re Bermuda, which previously secured multiple reinsurance transactions from Aflac Life Insurance Japan. Aflac Incorporated (NYSE: AFL) announced the agreement through a press release statement.

"This transaction marks a significant milestone in the history of Aflac Incorporated and Aflac Re," said Max Brodén, Senior Executive Vice President and Chief Financial Officer of Aflac Incorporated. "While Aflac Re has secured multiple reinsurance transactions from Aflac Life Insurance Japan, this is the first transaction with an external party."

Tsana Nobles, President of Aflac Re Bermuda, stated the company looks forward to continuing to build its relationship with Japan Post Insurance and leveraging its expertise to provide similar support for other Japanese life insurers.

Aflac Incorporated operates as a Fortune 500 company providing financial protection through subsidiaries in the United States and Japan. In the U.S., the company serves as the number one provider of supplemental health insurance products, while Aflac Life Insurance Japan leads in cancer and medical insurance policies in force in Japan.