COLUMBUS, Ga., Feb 08, 2007 /PRNewswire-FirstCall via COMTEX News Network/ -- Aflac Incorporated
announced today that its operation in Japan has received notification from
Japan's Financial Services Agency (FSA) that the deadline for a five-year
claims review already in progress has been extended.
As Aflac Incorporated had previously disclosed, Aflac Japan, along with
other life insurance companies, had already initiated a voluntary review of
the last five years of paid claims to assess the accuracy with which
policyholders' claims have been paid. Aflac had planned on reporting its
findings to the FSA on March 31, 2007. The recent notification from the FSA,
which now includes a review of cash surrender value payments, changes this
voluntary program to one that is mandatory and extends the filing deadline to
April 13, 2007.
Aflac Chairman and CEO Dan Amos stated: "We are eager to comply with the
request made by the FSA, and we have already made significant progress toward
completing our claims review. As I have said repeatedly, Aflac is in the
business of paying claims, not denying them. Paying claims promptly and
fairly has always been, and continues to be, a fundamental element of our
business. We look forward to the completion of this project to fully respond
to the FSA's request."
For more than 50 years, Aflac products have given policyholders the
opportunity to direct cash where it is needed most when a life-interrupting
medical event causes financial challenges. Aflac is the number one provider of
guaranteed-renewable insurance in the United States and the number one
insurance company in terms of individual insurance policies in force in Japan.
Our insurance products provide protection to more than 40 million people
worldwide. Aflac has been included in Fortune magazine's listing of America's
Most Admired Companies for six consecutive years and in Fortune magazine's
list of the 100 Best Companies to Work For in America for nine consecutive
years. Aflac has also been recognized three times by both Fortune magazine's
listing of the Top 50 Employers for Minorities and Working Mother magazine's
listing of the 100 Best Companies for Working Mothers. Aflac Incorporated is a
Fortune 500 company listed on the New York Stock Exchange under the symbol
AFL. To find out more about Aflac, visit aflac.com.
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Media contact - Laura Kane, 706.596.3493, FAX: 706.320.2288, or
Analyst and investor contact - Kenneth S. Janke Jr., +1-800-235- 2667 - option 3, or
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+1-706-596-3493, or Fax: +1-706-320-2288, or email@example.com, both of Aflac