# Aflac Incorporated (AFL) — Recent Events, through the Third Quarter of 2026 ## Filings that contain financial statements Each earnings Form 8-K furnishes an Exhibit 99.1 press release with summary results tables and a financial supplement exhibit holding the consolidated statements of earnings and consolidated balance sheets (U.S. GAAP), plus segment detail. Neither the releases nor the supplements include a cash flow statement. - Form 8-K filed November 4, 2026, accession 0001628280-26-070181: third quarter and nine months ended September 30, 2026. - Form 8-K filed August 6, 2026, accession 0001628280-26-054333: second quarter and six months ended June 30, 2026. - Form 8-K filed April 29, 2026, accession 0001628280-26-028396: first quarter ended March 31, 2026. - Form 8-K filed February 4, 2026, accession 0001628280-26-005458: fourth quarter and full year ended December 31, 2025. ## Earnings releases - **November 4, 2026 (third quarter 2026), accession 0001628280-26-070181.** Total revenues were $3.3 billion versus $4.7 billion a year earlier, a 31.0% decline. Net earnings were $303 million ($0.61 per diluted share) versus $1.6 billion ($3.08), which the release attributes primarily to realized losses from a strategic repositioning of the investment portfolio during the quarter. Net investment losses were $1.1 billion ($2.15 per diluted share), including $842 million of net losses from sales and redemptions, versus gains of $275 million a year ago. Net earnings also included a $51 million ($0.10 per share) valuation allowance against deferred tax assets tied to tax capital loss carryforwards. Adjusted earnings fell 8.5% to $1.2 billion; adjusted earnings per diluted share fell 2.4% to $2.43, aided by $453 million of reserve remeasurement gains. Aflac Japan pretax adjusted earnings fell 15.2% in yen terms (21.0% in dollars to $961 million). The release also states that Aflac Japan ceded roughly ¥500 billion of cancer-insurance reserves (FSA basis) to Aflac Re Bermuda, an internal reinsurance transaction effective in the quarter. Shareholders' equity was $29.3 billion ($59.08 per share). The company returned $1.1 billion to shareholders ($804 million of repurchases and $305 million of dividends). - **August 6, 2026 (second quarter 2026), accession 0001628280-26-054333.** Revenues $4.1 billion (down 1.0%); net earnings $825 million ($1.63 per diluted share) versus $599 million ($1.11); adjusted earnings $883 million, down 7.7% ($1.75 per share, down 1.7%). Returned $1.3 billion ($983 million of repurchases, $309 million of dividends). - **April 29, 2026 (first quarter 2026), accession 0001628280-26-028396.** Revenues $4.3 billion (up 27.9%); net earnings $1.0 billion ($1.98 per diluted share) versus $29 million ($0.05); adjusted earnings $901 million, down 0.6% ($1.75 per share, up 5.4%). Returned $1.3 billion ($1.0 billion of repurchases, $315 million of dividends). The release cites a new external reinsurance transaction at Aflac Japan, effective in the first quarter, as a reduction to Japan premiums. - **February 4, 2026 (fourth quarter and full year 2025), accession 0001628280-26-005458.** Fourth quarter revenues $4.9 billion versus $5.4 billion; net earnings $1.4 billion ($2.64 per diluted share) versus $1.9 billion ($3.42); adjusted earnings $818 million, down 5.4% (adjusted earnings per share $1.57, up 0.6%). Repurchased 7.2 million shares for $800 million in the quarter, with 114.3 million shares remaining under authorization at the end of December 2025. ## Capital actions - **Dividends.** The November 4, 2026 release declares a fourth quarter dividend of $0.61 per share, payable December 1, 2026 to holders of record November 18, 2026, and describes 44 consecutive years of annual dividend increases. Dividends paid per share for the first nine months were $1.83 versus $1.74 (up 5.2%). Accession 0001628280-26-070181. The February 4, 2026 release reiterated a 5.2% first quarter dividend increase (accession 0001628280-26-005458). - **Share repurchases.** Per the Form 10-Q filed November 5, 2026 (accession 0001628280-26-070776), the company repurchased $2.8 billion (24.3 million shares) in the first nine months of 2026 and had 90.0 million shares remaining under a 100 million share authorization announced in August 2025 at September 30, 2026. - **U.S. dollar senior notes, May 14, 2026 (accession 0001104659-26-061314).** Issued $500 million of 5.150% Senior Notes due 2036 in a registered public offering; net proceeds for general corporate purposes. Interest is payable semi-annually beginning November 14, 2026. - **Yen senior notes, May 28, 2026 (accession 0001104659-26-067551).** Issued four tranches of yen-denominated senior notes in a registered public offering, ¥65.9 billion in total: ¥3.1 billion of 2.117% notes due 2029, ¥41.8 billion of 2.802% notes due 2031, ¥13.1 billion of 3.123% notes due 2033 and ¥7.9 billion of 3.482% notes due 2036. Net proceeds for general corporate purposes. ## Cybersecurity - **June 30, 2026 (accession 0001628280-26-046124).** Aflac Japan, a wholly owned subsidiary, announced that on June 25, 2026 it discovered unauthorized third-party access to certain of its systems between June 15 and June 25, 2026. It suspended certain systems, continues to serve policyholders, and engaged third-party cybersecurity experts; the investigation was ongoing. In the Form 10-Q filed November 5, 2026 (accession 0001628280-26-070776) the company states the incident was limited to systems in Japan, that U.S. systems were not accessed, and that the potential loss cannot yet be reasonably estimated. The same note says the company remains in communication with regulators and has pending disputes relating to the separate June 12, 2025 U.S. cyber incident, with loss likewise not reasonably estimable. ## Governance - **Annual meeting, May 4, 2026 (Form 8-K filed May 7, 2026, accession 0001628280-26-032022).** All 11 director nominees were elected; say-on-pay received 1,082,304,402 votes for and 43,858,310 against; KPMG LLP was ratified as auditor for 2026. A shareholder proposal for an independent board chairman was not approved (136,304,171 for; 982,422,907 against). ## Not found in these filings No acquisitions, divestitures, restructurings, or management changes were reported in the 2026 Form 8-Ks reviewed.