Aflac believes that the hallmark of a good corporate citizen is its commitment to look out for the best interest of its customers, employees, shareholders and communities.
Legislative and regulatory initiatives and priorities at the federal and state level have a profound impact on Aflac and its business. As a result, Aflac believes that corporate participation in the political process is an important and essential means of protecting our policyholders and enhancing shareholder value by supporting candidates whose views on significant issues are good for the nation and our business.
Aflac actively participates in the political process through a variety of means, including; various trade associations, Aflac Political Action Committee (Aflac PAC), Aflac’s bipartisan political action committee and where permissible, direct corporate political contributions to state candidates, committees or ballot issues.
Aflac maintains appropriate policies and procedures to ensure that its political activities are conducted in accordance with all applicable laws governing political contributions and lobbying activities and consistent with our Code of Business Conduct and Ethics. In addition to political contributions being subject to board oversight, all decisions regarding corporate political contributions are regularly reviewed and approved by senior management consistent with the criteria set forth in Aflac’s Political Participation Program.
In support of transparency and accountability in the Company’s engagement in political activities, the Aflac Political Activity Report details the corporate contributions made to political candidates or committees; ballot measure committees; 527 groups, 501(c)(4) groups, and other similar tax-exempt organizations whose primary purpose includes political activities; and the non-deductible portion of annual payments made by the Company to trade associations and other tax exempt organizations (where the total annual payments exceeded $50,000).
Joey Loudermilk, Executive Vice President