Aflac Press Releases

Aflac Incorporated Investor Presentation Now Available for On-demand Viewing at RetailInvestorConferences.com

6/10/2013 7:03:23 AM

Aflac Incorporated Investor Presentation Now Available for On-demand Viewing at RetailInvestorConferences.com6/10/2013 7:03:23 AMCompany Invites Individual and Institutional Investors to Log-On to View Presentation

NEW YORK, June 10, 2013 /PRNewswire/ -- Aflac Incorporated (NYSE:AFL), today announced that their June 6th RetailInvestorConferences.com presentation is now available for on-demand viewing.

LINK: www.retailinvestorconferences.com > Click on the red "register/ watch event now" button

Aflac's presentation will be available for 90 days. Investors may download shareholder materials from the "virtual trade booth" for the next three weeks.

About Aflac Incorporated:

When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For nearly six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the number one provider of guaranteed-renewable insurance. In Japan, Aflac is the number one life insurance company in terms of individual policies in force. Aflac individual and group insurance products provide protection to more than 50 million people worldwide. For seven consecutive years, Aflac has been recognized by Ethisphere magazine as one of the World's Most Ethical Companies. In 2013, FORTUNE magazine recognized Aflac as one of the 100 Best Companies to Work For in America for the 15th consecutive year. Also, in 2013, FORTUNE magazine included Aflac on its list of Most Admired Companies for the 12th time, ranking the company number one in the life and health insurance category. 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 or espanol.aflac.com.

About RetailInvestorConferences.com:

Since 2010, RetailInvestorConferences.com has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with retail investors using a graphically-enhanced online platform.

Designed to replicate the look and feel of location-based investor conferences, Retail Investor Conferences unites PR Newswire's leading-edge online conferencing and investor communications capabilities with BetterInvesting's extensive retail investor audience network.

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 document 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" 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; governmental actions for the purpose of stabilizing the financial markets; defaults and credit downgrades of securities in our investment portfolio; impairment of financial institutions; credit and other risks associated with Aflac's investment in perpetual securities; differing judgments applied to investment valuations; significant valuation judgments in determination of amount of impairments taken on our investments; limited availability of acceptable yen-denominated investments; concentration of our investments in any particular single-issuer or sector; concentration of business in Japan; increased derivative activities; ongoing changes in our industry; exposure to significant financial and capital markets risk; fluctuations in foreign currency exchange rates; significant changes in investment yield rates; deviations in actual experience from pricing and reserving assumptions; subsidiaries' ability to pay dividends to Aflac Incorporated; changes in law or regulation by governmental authorities; ability to attract and retain qualified sales associates and employees; decreases in our financial strength or debt ratings; ability to continue to develop and implement improvements in information technology systems; interruption in telecommunications, information technology, and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems; changes in U.S. and/or Japanese accounting standards; failure to comply with restrictions on patient privacy and information security; level and outcome of litigation; ability to effectively manage key executive succession; catastrophic events including, but not necessarily limited to, epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis, acts of terrorism and damage incidental to such events; and failure of internal controls or corporate governance policies and procedures.

SOURCE Aflac, Inc.

Speech Therapist to the Aflac Duck: "We Need to Talk"

6/5/2013 8:04:00 AM

Speech Therapist to the Aflac Duck: "We Need to Talk"6/5/2013 8:04:00 AM Aflac Releases Latest Ad Online Prior to National Television Launch

COLUMBUS, Ga., June 5, 2013 /PRNewswire/ -- Aflac, the number one provider of supplemental insurance in the United States¹, has released "Speech Therapy"; their latest commercial in the company's ongoing campaign featuring the injured Aflac Duck. In Speech Therapy, which is currently available at Aflac.com, the Aflac Duck is training with his enthusiastic speech pathologist played by actress Jammie Patton, while trying to re-learn how to quack his iconic cry of "Aflaaaaac."

In January, the Aflac Duck suffered an undisclosed injury to his bill and wing and has been unable to work during his recovery. Since his injury, the company has chronicled his stay in the hospital, his physical therapy, and now his speech therapy. Each of the ads playfully delivers a serious message about how Aflac can help consumers protect their finances.

"America is going to fall in love with Jammie as the speech therapist who exudes humor and charm while helping the Duck get his voice back so he can return to work," Aflac Executive Vice President, Chief Marketing Officer Michael Zuna said. "The ad will make you laugh, but it also carries a serious message about why millions of Americans use Aflac to help protect themselves and their families from the financial impact of an unexpected accident or illness."

In addition to the series of television commercials that have focused on the Duck's injury and recovery, Aflac has also created social media integrations for consumers to participate throughout the campaign. To date, nearly 35,000 people have sent the Duck a get well card at Aflac.com and thousands more have participated in various games found on line. Consumers interested in joining the fun can go to the Aflac Duck's Facebook page or Aflac.com to see additional materials, including entertaining and shareable videos. Aflac also introduced its innovative Real Cost Calculator, at Aflac.com, which enables consumers to select from a variety of potential accidents and illnesses and retrieve information about the potential out-of-pocket costs that can be associated with an unexpected medical situation - and how Aflac can help keep you prepared.

Speech Therapy is currently available online at Aflac.com. Beginning in July it will run on all networks and cable outlets including ESPN, USA, TNT, HLN, CNN and others. Aflac continues to run the successful "Physical Therapy" commercial wherein the Aflac Duck is seen recuperating from injuries to his wing. To download Speech Therapy in Windows Media format, please click here, or in QuickTime please click here.

About Aflac When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For nearly six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the number one provider of guaranteed-renewable insurance. In Japan, Aflac is the number one life insurance company in terms of individual policies in force. Aflac individual and group insurance products provide protection to more than 50 million people worldwide. For seven consecutive years, Aflac has been recognized by Ethisphere magazine as one of the World's Most Ethical Companies. In 2013, FORTUNE magazine recognized Aflac as one of the 100 Best Companies to Work For in America for the 15th consecutive year. Also, in 2013, FORTUNE magazine included Aflac on its list of Most Admired Companies for the 12th time, ranking the company number one in the life and health insurance category. 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 or espanol.aflac.com.

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

¹National Underwriter, 2011.

Media Contacts:	Analyst and Investor Contact:
Laura Kane	Robin Y. Wilkey
Aflac Incorporated	Aflac Incorporated
706.596.3493	1.800.235.2667
706.593.0786 (cell)	Fax: 706.324.6330
lkane@aflac.com	rwilkey@aflac.com

Jon A. Sullivan
Aflac Incorporated
706.596.3493
706.573.7610 (cell)
jsullivan@aflac.com

SOURCE Aflac

Aflac Incorporated Prices $700 Million Of Senior Notes

6/3/2013 5:08:15 PM

Aflac Incorporated Prices $700 Million Of Senior Notes6/3/2013 5:08:15 PM

COLUMBUS, Ga., June 3, 2013 /PRNewswire/ -- Aflac Incorporated announced today that it has priced $700 million (par value) of 10-year fixed-rate, senior notes with a coupon of 3.625%. The 10-year notes will be issued at a price of 100.00 to yield 3.625%. The company intends to use the net proceeds from this offering to repay, redeem or repurchase one or more of the parent company's ¥28.7 billion aggregate principal amount of 1.47% Samurai notes due July 2014; ¥5.5 billion aggregate principal amount of variable interest rate Samurai notes due July 2014 (which bear interest at an annual rate of 1.32% as of March 31, 2013); and $300 million aggregate principal amount of 3.45% senior notes due August 2015. The balance of the net proceeds is expected to be used for general corporate purposes, including capital contributions to subsidiaries, if needed.

Commenting on the pricing of the debt issue, Aflac Incorporated President and Chief Financial Officer Kriss Cloninger III commented: "This debt issuance allows us to take advantage of favorable market conditions to facilitate our repayment of outstanding debt over the next two years."

Goldman Sachs & Co., Mizuho Securities USA Inc., Morgan Stanley & Co. LLC, and J.P. Morgan Securities LLC served as joint book-running managers for the transaction.

Aflac Incorporated has filed a registration statement (including a prospectus) with the Securities and Exchange Commission (SEC) for the offering to which this communication relates. You may obtain the registration statement and other documents that Aflac Incorporated has filed with the SEC that contain more complete information about Aflac Incorporated and this offering by contacting:

Goldman Sachs & Co.
200 West Street
New York, NY 10282-2198
866.471.2526

Mizuho Securities USA Inc.
320 Park Avenue
12th Floor
New York, NY 10022
212.209.9300

Morgan Stanley & Co. LLC
1585 Broadway
New York, NY 10036
866.718.1649

J.P. Morgan Securities LLC
383 Madison Avenue
New York, NY 10179
212.834.4533

Alternatively, these documents may be obtained by visiting the SEC website at www.sec.gov.

ABOUT AFLAC

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 document 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" 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; governmental actions for the purpose of stabilizing the financial markets; defaults and credit downgrades of securities in our investment portfolio; impairment of financial institutions; credit and other risks associated with Aflac's investment in perpetual securities; differing judgments applied to investment valuations; significant valuation judgments in determination of amount of impairments taken on our investments; limited availability of acceptable yen-denominated investments; concentration of our investments in any particular single-issuer or sector; concentration of business in Japan; increased derivative activities; ongoing changes in our industry; exposure to significant financial and capital markets risk; fluctuations in foreign currency exchange rates; significant changes in investment yield rates; deviations in actual experience from pricing and reserving assumptions; subsidiaries' ability to pay dividends to Aflac Incorporated; changes in law or regulation by governmental authorities; ability to attract and retain qualified sales associates and employees; decreases in our financial strength or debt ratings; ability to continue to develop and implement improvements in information technology systems; interruption in telecommunications, information technology, and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems; changes in U.S. and/or Japanese accounting standards; failure to comply with restrictions on patient privacy and information security; level and outcome of litigation; ability to effectively manage key executive succession; catastrophic events including, but not necessarily limited to, epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis, acts of terrorism and damage incidental to such events; and failure of internal controls or corporate governance policies and procedures.

(Logo: http://photos.prnewswire.com/prnh/20100423/CL92305LOGO )

Analyst and investor contact – Robin Y. Wilkey, 706.596.3264 or 800.235.2667, FAX: 706.324.6330, or rwilkey@aflac.com
Media contact – Laura Kane, 706.596.3493, FAX: 706.320.2288, or lkane@aflac.com

SOURCE Aflac Incorporated

Aflac Incorporated to Webcast Live at RetailInvestorConferences.com on June 6, 2013

6/3/2013 7:00:00 AM

Aflac Incorporated to Webcast Live at RetailInvestorConferences.com on June 6, 20136/3/2013 7:00:00 AM

Company Invites Main Street and Wall Street Investors to Attend Interactive Real-time Virtual Conference

NEW YORK, June 3, 2013 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL), today announced that Delia H. Moore, Director of Rating Agency and Investor Relations, will present at RetailInvestorConferences.com.

DATE:	June 6, 2013
TIME:	10:00 AM EDT
LINK:	www.retailinvestorconferences.com > Click on the red "register / watch event now" button

This will be a live, interactive online event where investors are invited to ask the company questions in real-time, both in the presentation hall as well as the company's "virtual trade booth." If attendees are not able to join the event live on the day of the conference, an on-demand archive will be available for 90 days.

It is recommended that investors pre-register to save time and receive event updates.

About Aflac Incorporated:
When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For more than 55 years, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the number one provider of guaranteed-renewable insurance. In Japan, Aflac is the number one life insurance company in terms of individual policies in force. Aflac individual and group insurance products provide protection to more than 50 million people worldwide. For six consecutive years Aflac has been recognized by Ethisphere magazine as one of the World's Most Ethical Companies. In 2012, FORTUNE magazine recognized Aflac as one of the 100 Best Companies to Work For in America for the 14^th consecutive year. Also, FORTUNE magazine included Aflac on its list of Most Admired Companies for the 11^th time in 2012. 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 or espanol.aflac.com.

About RetailInvestorConferences.com:
Since 2010, RetailInvestorConferences.com has been the only monthly virtual investor conference series that provides an interactive forum for presenting companies to meet directly with retail investors using a graphically-enhanced online platform.

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 document 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" 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; governmental actions for the purpose of stabilizing the financial markets; defaults and credit downgrades of securities in our investment portfolio; impairment of financial institutions; credit and other risks associated with Aflac's investment in perpetual securities; differing judgments applied to investment valuations; significant valuation judgments in determination of amount of impairments taken on our investments; limited availability of acceptable yen-denominated investments; concentration of our investments in any particular single-issuer or sector; concentration of business in Japan; ongoing changes in our industry; exposure to significant financial and capital markets risk; fluctuations in foreign currency exchange rates significant changes in investment yield rates; deviations in actual experience from pricing and reserving assumptions; subsidiaries' ability to pay dividends to Aflac Incorporated; changes in law or regulation by governmental authorities; ability to attract and retain qualified sales associates and employees; decreases in our financial strength or debt ratings; ability to continue to develop and implement improvements in information technology systems; changes in U.S. and/or Japanese accounting standards; failure to comply with restrictions on patient privacy and information security; level and outcome of litigation; ability to effectively manage key executive succession; impact of the recent earthquake and tsunami natural disaster and related events at the nuclear plant in Japan and their aftermath; catastrophic events including, but not necessarily limited to, tornadoes, hurricanes, earthquakes, tsunamis, and damage incidental to such events; and failure of internal controls or corporate governance policies and procedures.

SOURCE Aflac Incorporated

Aflac Incorporated, Delia H. Moore, dmoore3@aflac.com; RetailInvestorConferences.com, Bradley H. Smith, bradley.smith@prnewswire.com, 201.942.7157

Aflac Announces Changes In Management Responsibilities

5/22/2013 8:32:00 AM

Aflac Announces Changes In Management Responsibilities5/22/2013 8:32:00 AM

COLUMBUS, Ga., May 22, 2013 /PRNewswire/ -- Aflac today announced a number of changes in management roles and responsibilities designed to enhance its global management structure. The moves are effective July 1.

Paul S. Amos II, Aflac president, will assume reporting responsibilities for Aflac Japan and Aflac's Global Investment Division. He will work closely with Aflac Japan President and Chief Operating Officer Tohru Tonoike and the Aflac Japan management team to continue to position Aflac as the number one insurance company in Japan in terms of individual policies in force. Similarly, he will work closely with Eric M. Kirsch, executive vice president of Global Investments, to build and manage a best-in-class investment division. Amos will continue to report to Aflac Incorporated President and Chief Financial Officer Kriss Cloninger III.

Kenneth S. Janke Jr. has been named president of Aflac U.S. In addition, Janke will continue to serve as executive vice president and deputy chief financial officer of Aflac Incorporated. In his new role as president of Aflac U.S., Janke will report to Aflac Incorporated Chairman and CEO Daniel P. Amos. He will report to Cloninger in his role as deputy CFO.

Teresa L. White, executive vice president, chief service officer, has been named chief operating officer of Aflac's operations in Columbus, Ga. The company is also in the final stages of selecting a chief operating officer of its Aflac Group division in Columbia, S.C. Both positions will report to Janke.

"Paul has successfully led Aflac U.S. for more than eight years and he has earned this opportunity," said Cloninger. "Under his leadership, Aflac U.S. has produced annual compound growth in pretax operating earnings of 9.1% since 2004. This year our U.S. business is poised to hit major milestones, surpassing $5 billion in earned premium and $1 billion in pretax earnings. With Dan and I committed to several more years in our existing roles, it's an opportune time to expand Paul's responsibilities. We look forward to the contributions that he will make working both with Aflac Japan – which generates more than 75 percent of our earnings – and with our global investment division."

Regarding Janke, Dan Amos said: "Ken has done an outstanding job of working with Kriss as deputy CFO since September 2010. Ken will benefit by being more thoroughly exposed to the U.S. operations, while he also continues in his role as deputy CFO. As such, Ken will continue to focus on such topics as capital adequacy and capital management and will continue to work closely with the financial reporting area."

Regarding White, Dan Amos said: "Teresa is an outstanding leader and manager. She is respected as a top professional, both internally and externally. In addition, she has a strong commitment to customer service when it comes to serving our policyholders, shareholders and sales force. We look for Teresa's history of excellence to continue in her new and expanded role."

ABOUT AFLAC

Analyst and investor contact – Robin Y. Wilkey, 706.596.3264 or 800.235.2667, FAX: 706.324.6330 or rwilkey@aflac.com

Media contact – Laura Kane, 706.596.3493, FAX: 706.320.2288, or lkane@aflac.com

SOURCE Aflac

Aflac Incorporated To Webcast 2013 Financial Analysts Briefing

5/15/2013 4:43:47 PM

Aflac Incorporated To Webcast 2013 Financial Analysts Briefing5/15/2013 4:43:47 PM

COLUMBUS, Ga., May 15, 2013 /PRNewswire/ -- Aflac Incorporated (NYSE: AFL) announced today that it will webcast its annual Financial Analysts Briefing on May 22, 2013. Aflac's management will discuss its operations in Japan and in the United States. The schedule of the business meeting webcast is as follows, based on Eastern Daylight Time (EDT).


Wednesday, May 22, 2013

8:00 a.m.	Opening Remarks	9:40	Aflac U.S. Marketing
	Robin Y. Wilkey		Michael W. Zuna
8:10	Strategic Overview of Aflac	10:00	Aflac Investments
	Daniel P. Amos		Eric M. Kirsch
8:30	Overview of Aflac Japan	10:40	Capital Position & Capital Management
	Tohru Tonoike		Kenneth S. Janke Jr.
8:50	Aflac Japan Marketing & Sales	11:20	Aflac Financial Results
	Koji Ariyoshi		Kriss Cloninger III
9:05	Aflac Japan Bank Channel Sales	12:15 p.m.	Question & Answer Session
	Hisayuki Shinkai
9:20	Overview of Aflac U.S.
	Paul S. Amos II

The presentations, which include the slides, will be available via webcast. If you would like to sign up for the webcast, you may do so by visiting aflac.com and clicking on the Investors page. You will need to register for the event, so please allow yourself five to seven minutes to sign up prior to the scheduled start time. An archive of the presentations will be available on aflac.com for two weeks beginning the evening of May 22, 2013.

ABOUT AFLAC

(Logo: http://photos.prnewswire.com/prnh/20100423/CL92305LOGO)

Analyst and investor contact – Robin Y. Wilkey, 706.596.3264 or 800.235.2667, FAX: 706.324.6330 or rwilkey@aflac.com
Media contact – Laura Kane, 706.596.3493, FAX: 706.320.2288, or lkane@aflac.com

SOURCE Aflac Incorporated

Aflac Incorporated Hires Teresa Q. McTague As Director; Chief Investment Officer Of Aflac U.S.

5/6/2013 8:33:00 AM

Aflac Incorporated Hires Teresa Q. McTague As Director; Chief Investment Officer Of Aflac U.S.5/6/2013 8:33:00 AM

COLUMBUS, Ga., May 6, 2013 /PRNewswire/ -- Aflac Incorporated announced today that it has hired Teresa Q. McTague to serve as director; chief investment officer of Aflac U.S. McTague is based out of the Aflac Global Investments office in New York and reports to Executive Vice President; Global Chief Investment Officer Eric M. Kirsch. In this key leadership role, she is responsible for managing and monitoring the company's U.S. investment portfolios, including developing asset allocation and asset liability management strategies.

McTague brings nearly three decades of experience in portfolio management and portfolio strategy and implementation to Aflac. She most recently served as client strategist/portfolio manager at General Re-New England Asset Management, where she was responsible for managing and investing unaffiliated assets for insurance clients in the U.S. and Europe. Prior to that, McTague held management leadership positions at Gen Re Corporation, Johnson & Higgins, and Alexander & Alexander. She received a bachelor's degree in economics from the University of California at Berkeley and a master of business administration (MBA) degree from The Wharton School at the University of Pennsylvania.

Executive Vice President and Global Chief Investment Officer Eric M. Kirsch commented, "We are extremely pleased Teresa has joined Aflac's Global Investment Division in this vital role within our senior management team. With her extensive knowledge and expertise related to global portfolio management and insurance strategy, I look forward to Teresa's contributions to Aflac's U.S. investment portfolios and more broadly, the global investment function as we continue to advance our investment capabilities and performance."

ABOUT AFLAC
When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For nearly six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the number one provider of guaranteed-renewable insurance. In Japan, Aflac is the number one life insurance company in terms of individual policies in force. Aflac individual and group insurance products provide protection to more than 50 million people worldwide. For seven consecutive years, Aflac has been recognized by Ethisphere magazine as one of the World's Most Ethical Companies. In 2013, FORTUNE magazine recognized Aflac as one of the 100 Best Companies to Work For in America for the 15th consecutive year. Also, in 2013, FORTUNE magazine included Aflac on its list of Most Admired Companies for the 12th time, ranking the company number one in the life and health insurance category. 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 or espanol.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 document 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" 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; governmental actions for the purpose of stabilizing the financial markets; defaults and credit downgrades of securities in our investment portfolio; impairment of financial institutions; credit and other risks associated with Aflac's investment in perpetual securities; differing judgments applied to investment valuations; significant valuation judgments in determination of amount of impairments taken on our investments; limited availability of acceptable yen-denominated investments; concentration of our investments in any particular single-issuer or sector; concentration of business in Japan; increased derivative activities; ongoing changes in our industry; exposure to significant financial and capital markets risk; fluctuations in foreign currency exchange rates; significant changes in investment yield rates; deviations in actual experience from pricing and reserving assumptions; subsidiaries' ability to pay dividends to Aflac Incorporated; changes in law or regulation by governmental authorities; ability to attract and retain qualified sales associates and employees; decreases in our financial strength or debt ratings; ability to continue to develop and implement improvements in information technology systems; interruption in telecommunications, information technology, and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems; changes in U.S. and/or Japanese accounting standards; failure to comply with restrictions on patient privacy and information security; level and outcome of litigation; ability to effectively manage key executive succession; catastrophic events including, but not necessarily limited to, epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis, acts of terrorism and damage incidental to such events; and failure of internal controls or corporate governance policies and procedures.

Analyst and investor contact – Robin Y. Wilkey, 706.596.3264 or 800.235.2667 FAX: 706.324.6330, or rwilkey@aflac.com
Media contact – Laura Kane, 706.596.3493, FAX: 706.320.2288, or lkane@aflac.com

SOURCE Aflac Incorporated

Aflac Diverts Nearly Two Million Pounds of Waste from Landfills

4/30/2013 8:10:00 AM

Aflac Diverts Nearly Two Million Pounds of Waste from Landfills4/30/2013 8:10:00 AM

Environmental Milestone Highlight's Release of Company's 2012 Corporate Citizenship Report

COLUMBUS, Ga., April 30, 2013 /PRNewswire/ -- Aflac, the leading provider of voluntary insurance in the United States and Japan, serving more than 50 million people, announced today that its waste reduction and recycling initiatives kept nearly 2 million pounds of solid waste from being sent to landfills in 2012. In 2012, Aflac's recycling efforts increased to 74 percent of all solid waste compared to just 57 percent in 2009.¹

The news was reported in the company's 2012 Corporate Citizenship Report, issued today on Aflac.com. Aflac has been improving its waste reduction/recycling efforts for a decade, and was named to the Dow Jones Sustainability Index North America for the second year, and was listed at number 69 in Newsweek's annual green rankings in 2012.

Aflac generates more than 2 million pounds of solid waste per year at its Columbus, Georgia headquarters, where nearly 4,000 employees are based. In recent years, the company has incorporated several innovative devices and events to help recycle these materials in an environmentally-friendly way, including:

A polystyrene crushing device that crushes tons of used polystyrene food and drink containers – staples of any contemporary company cafeteria – into compact bricks used in the manufacture of recycled consumer products.
A food "digester" that converts food waste to grey water which is routed through the city sewer system. In 2012, this technology alone diverted up to 40,000 pounds of waste from landfills.
Regular "Freecycle" events that rescue paper products, file cabinets, and desk organizers destined for the trash, putting them to use elsewhere in the company.

Aflac has also reduced electricity consumption by 17 percent since 2009, trimming its kilowatt per hour consumption from 31.4 kWh to 26.1 kWh per square foot in 2012. In addition, in 2012, 84 percent of the square footage that Aflac owns and operates is Energy Star rated.

"Aflac prides itself on being a strong partner in our community, so we are always is looking for new ways to reduce waste and live more gently on the earth," said Alfred Blackmar, Aflac vice president for facilities. "In addition to recycling the usual suspects, like plastic and aluminum, we continue to research new, innovative ways to recycle in order to reduce our footprint in the community."

Aflac's Corporate Citizenship Report focuses primarily on the company's commitment to sustainability, diversity and philanthropy in both the United States and Japan, where combined, the company serves more than 50 million people. Aflac believes that being a socially responsible company contributes to its continued strong performance as a business.

Other highlights of the report include:

Aflac's strong commitment to diversity, including a workforce that includes 43 percent ethnic minorities, 68 percent women, including and 50 percent of Aflac management and 25% of senior executives.
Aflac's history of financial and human resource support for the Aflac Cancer Center ($79 million contributed as of Dec. 31, 2012).
Aflac's progress as a sustainable company, including entry to the Dow Jones Sustainability Index North America for the second time in 2012.
Aflac Japan's sustained commitment to children, the environment and their community.

¹ Aflac U.S. internal date

Aflac herein means American Family Life Assurance Company of Columbus and American Family Life Assurance Company of New York.

Media Contacts:	Analyst and Investor Contact:
Laura Kane	Robin Y. Wilkey
Aflac Incorporated	Aflac Incorporated
706.596.3493	1.800.235.2667
706.593.0786 (cell)	Fax: 706.324.6330
lkane@aflac.com	rwilkey@aflac.com

Jon A. Sullivan
Aflac Incorporated
706.596.3493
706.573.7610 (cell)
jsullivan@aflac.com

SOURCE Aflac

American Workers on an Uphill Road with Consumer-Driven Health Care

4/25/2013 12:02:11 PM

American Workers on an Uphill Road with Consumer-Driven Health Care4/25/2013 12:02:11 PMNew Aflac survey reveals employees are not prepared for increased costs, may not want control and lack education

COLUMBUS, Ga., April 25, 2013 /PRNewswire/ -- American workers are facing a sea of change when it comes to health care options. With rising health care costs and reform legislation, the traditional method of simply picking a comprehensive insurance plan from among a few options offered by an employer will soon be a thing of the past. But will consumers be prepared to take greater control, handle rising costs and make sound decisions? Not according to the 2013 Aflac WorkForces Report (AWR), which found that:

These findings are from the third annual Aflac WorkForces Report, a national study released today that analyzes the trends, attitudes, and use of employee benefits. The 2013 AWR results are from an online survey of nearly 1,900 benefits decision-makers and more than 5,200 U.S. workers,conducted in January 2013 by Research Now and released by Aflac, the No. 1 provider of supplemental and guaranteed-renewable insurance in the United States.

"It may be referred to as 'consumer-driven health care,' but in actuality, consumers aren't the ones driving these changes, so it's no surprise that many feel unprepared," said Audrey Boone Tillman, executive vice president of Corporate Services at Aflac. "The bottom line is if consumers aren't educated about the full scope of their options, they risk making costly mistakes without a financial back-up plan."

New Decisions Daunting As consumers are confronted with more health care decisions, the 2013 Aflac report found that many workers already find health insurance decisions daunting and have reservations about taking greater control. Five out of 10 (53 percent) fear that they may not adequately manage their coverage, leaving their families less protected than they are now. Not only have they been historically complacent, with 89 percent admitting they choose the same benefits year over year, but many don't understand the options provided to them.

The 2013 Aflac WorkForces Report found that among consumers:

32 percent are not very/not at all knowledgeable about health savings accounts (HSA)
Three out of four (76 percent) are not very/not at all knowledgeable about federal and state health care exchanges
Almost half (49 percent) are not very/not at all knowledgeable about health reimbursement accounts
25 percent are not very/not at all knowledgeable about flex spending accounts (FSA)

Even though educating employees is a low priority, helping workers learn how to effectively manage their health care choices presents an opportunity for employers to demonstrate they care about their employees, and to curb potential absenteeism, low morale and low productivity.

Cost Shifting: Facing the Facts To control their health care expenses, businesses are choosing new health plans that are shifting active management of health care decisions to employees. According to the 2013 AWR, more than half (53 percent) of employers have implemented a high-deductible health plan (HDHP) over the past three years — a trend that shows no sign of slowing. A 2012 Employer Health Plan Study by J.D. Power and Associates found that 47 percent of employers say they "definitely" or "probably" will switch to a defined contribution health care plan.[1]

Yet, even with the shift towards HDHPs, defined contribution plans and the looming impact of state and private insurance exchanges, more than half of workers (55 percent) have done nothing to prepare for possible changes to the health care system.[2] The U.S. government predicts that household out-of-pocket health care expenses will reach an average of $3,301 per year by 2014.[3] Despite these figures, the 2013 AWR found that only 23 percent of workers are saving more in anticipation of potential increases in medical costs, nearly half (46 percent) have less than $1,000 in savings to use for out-of-pocket expenses associated with an unexpected serious illness or accident, and 25 percent of employees have less than $500.

Finding a Solution Without a better understanding of their options and the implications of their choices, workers are at risk of making costly decisions.

"It's time for consumers to face reality. Ready or not, they are being put in control of their health insurance decisions — and that means having to make choices that could have a big impact on personal finances," said Tillman. "If employers aren't offering guidance to workers on how to make crucial benefits decisions, the responsibility lies in the hands of consumers to educate themselves."

Tillman suggests employees:

Sit down with HR professionals to ask questions and have policies explained. Understanding key terms, deductible limits and copay and coinsurance requirements are the first step to making sensible decisions.
Do homework. Figure out your budget for health care – look at your paycheck, savings account, previous records and bills to understand how much health care actually costs and determine what kind of plan meets your needs.
Ensure that no stone is left unturned when it comes to choosing benefits. Learn more about all policies offered by your employer or on your state's exchange, including supplemental insurance policies which provide an additional layer of coverage beyond major medical insurance.

To learn more about the 2013 Aflac WorkForces Report and to read the in-depth articles on Consumer-Driven Health Care, "The Competitive Edge," "Benefits Matter" and "Growing Need for Voluntary Products," visit AflacWorkForcesReport.com.

About the Study The 2013 Aflac WorkForces Report is the 3^rd annual Aflac employee benefits study examining benefit trends and attitudes. The study, conducted by Research Now, captures responses from 1,884 benefits decision-makers and 5,299 employees across the U.S. To learn more about the Aflac WorkForces Report, visit AflacWorkForcesReport.com.

Conducted by Research Now on behalf of Aflac, the research contained two components — employer research and employee research. The Employer Survey was conducted online within the United States between Jan. 4, 2013, and Jan. 15, 2013, among 1,884 benefits decision-makers. Results were representative of U.S. companies with at least three employees based on company size (number of employees) and industry. No estimates of theoretical sampling error can be calculated; a full methodology is available.

The Employee Survey was conducted online within the United States between Jan. 7, 2013, and Jan. 24, 2013, among 5,229 employed adults ages 18 and older who are employed full or part time at a company with three or more employees and not retired. The first 3,038 interviews were nationally representative while the remaining 3,602 interviews were conducted among the Top 20 designated market areas (DMAs) —100+ interviews per DMA. Results were weighted as needed for household income. No estimates of theoretical sampling error can be calculated; a full methodology is available.

About Research Now Research Now is the leading global online sampling and online data collection company. With over six million panelists in 38 countries worldwide, Research Now enables companies to listen to and interact with real consumers and business decision-makers to help them make key business decisions. Research Now offers a full suite of data collection services, including social media sampling, and operates the Valued Opinions^™ Panel and e-Rewards^® Opinion Panels. The company has a multilingual staff located in 24 offices around the globe and has been recognized for four consecutive years as the industry leader in client satisfaction. For more information, please visit researchnow.com.

About Aflac When a policyholder gets sick or hurt, Aflac pays cash benefits fast. For nearly six decades, Aflac insurance policies have given policyholders the opportunity to focus on recovery, not financial stress. In the United States, Aflac is the number one provider of guaranteed-renewable insurance. In Japan, Aflac is the number one life insurance company in terms of individual policies in force. Aflac individual and group insurance products provide protection to more than 50 million people worldwide. For seven consecutive years, Aflac has been recognized by Ethisphere magazine as one of the World's Most Ethical Companies. In 2013, FORTUNE magazine recognized Aflac as one of the 100 Best Companies to Work For in America for the 15th consecutive year. Also, in 2013, FORTUNE magazine included Aflac on its list of Most Admired Companies for the 12th time, ranking the company number one in the life and health insurance category. 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 or espanol.aflac.com.

Aflac herein means American Family Life Assurance Company of Columbus.

[1] "2012 Employer Health Plan Study," J.D. Power and Associates, June 18, 2012; http://www.jdpower.com/content/press-release/fFZdNI3/2012-employer-health-plan-study.htm

[2] "2013 Aflac WorkForces Report," conducted by Research Now on behalf of Aflac, January 2013

[3] "Bankrate.com" accessed March 27, http://www.bankrate.com/finance/insurance/coping-with-out-of-pocket-health-care-cost-1.aspx

(Logo: http://photos.prnewswire.com/prnh/20100423/CL92305LOGO )

Media Contacts:
Kip Havel	Cathleen Bleers
Aflac	Hill + Knowlton Strategies
706.243.5543	312.255.3123
khavel@aflac.com	cathleen.bleers@hkstrategies.com

SOURCE Aflac

Aflac Incorporated Announces First Quarter Results, Declares Second Quarter Cash Dividend, Affirms 2013 Operating EPS Target

4/24/2013 4:13:00 PM

Aflac Incorporated Announces First Quarter Results, Declares Second Quarter Cash Dividend, Affirms 2013 Operating EPS Target4/24/2013 4:13:00 PM

COLUMBUS, Ga., April 24, 2013 /PRNewswire/ -- Aflac Incorporated today reported its first quarter results.

Reflecting the weaker yen/dollar exchange rate, revenues were relatively unchanged at $6.2 billion during the first quarter of 2013, compared with a year ago. Net earnings were $892 million, or $1.90 per diluted share, compared with $785 million, or $1.68 per share, a year ago.

Net earnings in the first quarter of 2013 included after-tax realized investment gains, net of realized investment losses, of $102 million, or $.21 per diluted share, compared with net after-tax losses of $29 million, or $.06 per diluted share, a year ago. After-tax realized investment losses from impairments in the quarter were $35 million, or $.08 per diluted share. After-tax realized investment gains from securities transactions in the quarter were $77 million, or $.16 per diluted share. On an after-tax basis, hedging costs related to certain dollar investments of Aflac Japan were $3 million in the quarter, or $.01 per diluted share. Realized after-tax net investment gains from other derivative and hedging activities in the quarter were $63 million, or $.14 per diluted share.

Aflac believes that an analysis of operating earnings, a non-GAAP financial measure, is vitally important to an understanding of the company's underlying profitability drivers. Aflac defines operating earnings as the profits derived from operations before realized investment gains and losses from securities transactions, impairments, and derivative and hedging activities, as well as nonrecurring items. Aflac's derivative activities primarily include: foreign currency, interest rate and credit default swaps in variable interest entities that are consolidated; foreign currency swaps associated with the company's senior and subordinated notes; and foreign currency forwards used in hedging foreign exchange risk on U.S. dollar-denominated securities. Management uses operating earnings to evaluate the financial performance of Aflac's insurance operations because realized gains and losses from securities transactions, impairments, and derivative and hedging activities, as well as nonrecurring items, tend to be driven by general economic conditions and events or related to infrequent activities not directly associated with the company's insurance operations, and therefore may obscure the underlying fundamentals and trends in Aflac's insurance operations.

Furthermore, because a significant portion of Aflac's business is in Japan, where the functional currency is the yen, the company believes it is equally important to understand the impact on operating earnings from translating yen into dollars. Aflac Japan's yen-denominated income statement is translated from yen into dollars using an average exchange rate for the reporting period, and the balance sheet is translated using the exchange rate at the end of the period. However, except for a limited number of transactions, which includes the Aflac Japan dollar investment program, the company does not actually convert yen into dollars. As a result, Aflac views foreign currency as a financial reporting issue and not as an economic event for the company or its shareholders. Because changes in exchange rates distort the growth rates of operations, readers of Aflac's financial statements are also encouraged to evaluate financial performance excluding the impact of foreign currency translation. The chart toward the end of this release presents a comparison of selected income statement items with and without foreign currency changes to illustrate the effect of currency.

Operating earnings in the first quarter were $790 million, compared with $814 million in the first quarter of 2012. Operating earnings per diluted share decreased 2.9% to $1.69 in the quarter, compared with $1.74 a year ago. The weaker yen/dollar exchange rate decreased operating earnings per diluted share by $.15 for the first quarter. Excluding the impact from the weaker yen, operating earnings per share increased 5.7%.

Total investments and cash at the end of March 2013 were $107.4 billion, compared with $118.2 billion at December 31, 2012. Total investments and cash were negatively impacted by the weaker yen and the conclusion of a six-month securities lending program that began in the third quarter of 2012.

In the first quarter, Aflac repurchased approximately $150 million, or about three million shares, of its common stock. At the end of March, the company had 19.4 million shares available for purchase under its share repurchase authorization.

During the first quarter, the company refined its methodology for valuing privately issued securities held in its consolidated investment portfolio. The adoption of this new valuation methodology, combined with changes in market conditions, reduced shareholders' equity at March 31, 2013, by $582 million, compared with December 31, 2012. Shareholders' equity was $15.5 billion, or $33.34 per share, at March 31, 2013, compared with $16.0 billion, or $34.16 per share, at December 31, 2012. Shareholders' equity at the end of the first quarter included a net unrealized gain on investment securities and derivatives of $2.0 billion, compared with a net unrealized gain of $2.6 billion at the end of December 2012. The annualized return on average shareholders' equity in the first quarter was 22.6%. On an operating basis (excluding total net realized investment gains/losses in net earnings, and unrealized investment and derivative gains/losses in shareholders' equity), the annualized return on average shareholders' equity was 23.4% for the first quarter.

AFLAC JAPAN

Aflac Japan's total revenues in yen were up 9.7% in the first quarter of 2013. Premium income in yen rose 9.8%. Net investment income increased 7.3%. Investment income growth in yen terms was magnified by the weaker yen/dollar exchange rate because approximately 40% of Aflac Japan's first quarter investment income was dollar-denominated. The pretax operating profit margin increased slightly over the first quarter of 2012, improving from 21.3% to 21.5%. Pretax operating earnings in yen increased 10.7%.

For the first quarter, Aflac Japan's results in dollar terms were suppressed by the weaker yen/dollar exchange rate. The average yen/dollar exchange rate in the first quarter of 2013 was 92.59, or 14.0% weaker than the average rate of 79.59 in the first quarter of 2012.

Reflecting the weaker average yen in the first quarter, premium income in dollars decreased 5.9% to $3.9 billion. Net investment income in the first quarter was $674 million, or 7.6% lower than 2012. Total revenues decreased 5.9% to $4.6 billion. Pretax operating earnings declined 4.8% to $989 million.

In the first quarter, total new annualized premium sales rose 2.6% to 53.8 billion yen, or $578 million. Third sector sales, cancer and medical products combined, decreased 7.1% in the quarter. During the same period, bank channel sales decreased 13.2%. Ordinary life sales, including WAYS which decreased 1.9%, were up 7.3% for the quarter. This result was better than expected and was primarily driven by consumers who wanted to make insurance purchases of first sector products ahead of the rate increase effective April 2, 2013.

AFLAC U.S.

Aflac U.S. total revenues increased 3.9% to $1.4 billion in the first quarter. Premium income increased 4.0% to $1.3 billion, and net investment income was up 3.4% to $157 million. The pretax operating profit margin decreased slightly from 19.6% a year ago to 19.5%. Pretax operating earnings were $281 million, an increase of 3.6% for the quarter.

Aflac U.S. total new annualized premium sales decreased 5.2% to $332 million. Additionally, persistency in the quarter was 74.7%, which was unchanged from a year ago.

DIVIDEND

The board of directors declared the second quarter cash dividend. The second quarter dividend of $.35 per share is payable on June 3, 2013, to shareholders of record at the close of business on May 22, 2013.

OUTLOOK

Commenting on the company's first quarter results, Chairman and Chief Executive Officer Daniel P. Amos stated: "Although the underlying strong results were masked by a significantly weaker yen, we are pleased with our overall results in the first quarter of 2013. Aflac Japan produced solid financial results that exceeded our expectations for the quarter. Aflac Japan's overall sales were up due to the advanced purchases of products prior to a scheduled premium increase. Third sector sales on the other hand, were down for the first quarter as expected. However, we believe consumer response to our third sector products will be strong in the second half of 2013. As such, we continue to expect that Aflac Japan's sales of third sector products will be flat to up 5% for the year.

"While Aflac U.S. sales declined in the quarter, we believe sales will be weighted more toward the latter half of the year. Therefore, we are retaining our objective of a flat to 5% sales increase for the year. The foundation of Aflac U.S. is strong and we are focused on expanding our reach to employees at companies of all sizes. We continue to look for opportunities to leverage our strong brand and relevant product portfolio in the evolving health care environment.

"Low investment yields, particularly in Japan, remain a significant challenge. As such, we continue to invest a significant portion of our cash flows in U.S. corporate bonds. This strategy provides greater liquidity, enhances flexibility for our portfolio and increases the opportunity to diversify the investment of our significant cash flows beyond Japanese Government Bonds, with the objective of producing higher returns. In light of 10-year JGB yields hitting historical lows, we want to be flexible in our asset allocation. Given significant changes impacting financial markets including Japanese interest rates and the yen/dollar exchange rate, our investment team is carefully monitoring Japan's monetary and fiscal policies to evaluate investment options related to our JGB asset allocation.

"The strength of our regulatory capital ratios demonstrates our commitment to maintaining financial strength on behalf of our policyholders and bondholders. As we have communicated over the past several years, sustaining strong RBC and SMR ratios remains a priority for us. While we have not yet completed our statutory financial statements for the first quarter, we estimate our quarterly RBC ratio at March 31 was above our 2012 year-end ratio of 630%. We believe Aflac Japan's SMR will also improve over its year-end 2012 level of 669%.

"We communicated last quarter our intention is to purchase $400 to $600 million of our shares this year. We purchased approximately $150 million of our shares in the first quarter of 2013. Given the strength of our capital ratios and parent company liquidity, we are even more comfortable with that range.

"Reflecting the underlying strength of the business, we still expect to have another good year for Aflac. I want to reiterate that our objective for 2013 has not changed: To increase operating earnings per diluted share 4% to 7%, or approximately $6.86 to $7.06 per share, on a currency neutral basis. Assuming we achieve our earnings objective and the yen averages 95 to 100 to the dollar for 2013, we would expect to report operating earnings of $5.99 to $6.37 per diluted share for the full year. Additionally, for the second quarter of 2013, using the same currency assumptions, we expect operating earnings will be in the range of $1.41 to $1.56 per diluted share."

ABOUT AFLAC

A copy of Aflac's Financial Analysts Briefing (FAB) supplement for the quarter can be found on the "Investors" page at aflac.com, as well as a complete listing of Aflac's investment holdings in the financial sector along with separate listings of the company's sovereign and financial investments in both perpetual and peripheral Eurozone securities.

Aflac Incorporated will webcast its quarterly conference call via the "Investors" page of aflac.com at 9:00 a.m. (EDT) on Thursday, April 25, 2013.

AFLAC INCORPORATED AND SUBSIDIARIES CONDENSED INCOME STATEMENT
(UNAUDITED – IN MILLIONS, EXCEPT FOR SHARE AND PER-SHARE AMOUNTS)

THREE MONTHS ENDED MARCH 31,			2013		2012	% Change

Total revenues		$	6,208	$	6,240	(.5)%

Benefits and claims			3,521		3,646	(3.4)

Total acquisition and operating expenses			1,326		1,392	(4.8)

Earnings before income taxes			1,361		1,202	13.3

Income taxes			469		417

Net earnings		$	892	$	785	13.7%

Net earnings per share – basic		$	1.91	$	1.68	13.7%

Net earnings per share – diluted			1.90		1.68	13.1

Shares used to compute earnings per share (000):
	Basic	466,462		465,887		.1%
	Diluted	469,124		468,533		.1

Dividends paid per share		$	.35	$	.33	6.1%

AFLAC INCORPORATED AND SUBSIDIARIES CONDENSED BALANCE SHEET
(UNAUDITED – IN MILLIONS, EXCEPT FOR SHARE AMOUNTS)

MARCH 31,		2013		2012	% Change

Assets:

Total investments and cash	$	107,400	$	103,104	4.2%

Deferred policy acquisition costs		9,210		9,542	(3.5)

Other assets		3,928		2,906	35.2

Total assets	$	120,538	$	115,552	4.3%

Liabilities and shareholders' equity:

Policy liabilities	$	92,951	$	92,697	.3%

Notes payable		4,283		3,964	8.1

Other liabilities		7,769		5,248	48.0

Shareholders' equity		15,535		13,643	13.9

Total liabilities and shareholders' equity	$	120,538	$	115,552	4.3%

Shares outstanding at end of period (000)		466,025		467,463	(.3)%

	RECONCILIATION OF OPERATING EARNINGS TO NET EARNINGS
	(UNAUDITED – IN MILLIONS, EXCEPT FOR PER-SHARE AMOUNTS)

THREE MONTHS ENDED MARCH 31,			2013		2012	% Change

Operating earnings		$	790	$	814	(2.9)%

Reconciling items, net of tax:
Realized investment gains (losses):
Securities transactions and impairments			42		(81)
Hedge costs related to foreign
currency investments			(3)		–
Impact of other derivative/hedging activities			63		52


Net earnings		$	892	$	785	13.7%

Operating earnings per diluted share		$	1.69	$	1.74	(2.9)%

Reconciling items, net of tax:
Realized investment gains (losses):
Securities transactions and impairments			.08		(.17)
Hedge costs related to foreign
currency investments			(.01)		–
Impact of other derivative/hedging activities			.14		.11


Net earnings per diluted share		$	1.90	$	1.68	13.1%

EFFECT OF FOREIGN CURRENCY ON OPERATING RESULTS¹
(SELECTED PERCENTAGE CHANGES, UNAUDITED)

THREE MONTHS ENDED MARCH 31, 2013	Including Currency Changes	Excluding Currency Changes²

Premium income	(3.6)%	8.1%

Net investment income	(5.6)	1.7

Total benefits and expenses	(3.8)	7.6

Operating earnings	(2.9)	5.8

Operating earnings per diluted share	(2.9)	5.7

¹ The numbers in this table are presented on an operating basis, as previously described.
² Amounts excluding currency changes were determined using the same yen/dollar exchange rate for the current period as the comparable period in the prior year.

2013 OPERATING EARNINGS PER SHARE SCENARIOS

Average Exchange Rate	Annual Operating EPS				% Growth Over 2012			Yen Impact

79.81*	$	6.86	-	7.06	3.9	-	7.0%	$ –

85		6.60	-	6.80	0.0	-	3.0	(.26)

90		6.37	-	6.57	(3.5)	-	(.5)	(.49)

95		6.17	-	6.37	(6.5)	-	(3.5)	(.69)

100		5.99	-	6.19	(9.2)	-	(6.2)	(.87)

*Actual 2012 weighted-average exchange rate

FORWARD-LOOKING INFORMATION

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" 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; governmental actions for the purpose of stabilizing the financial markets; defaults and credit downgrades of securities in our investment portfolio; impairment of financial institutions; credit and other risks associated with Aflac's investment in perpetual securities; differing judgments applied to investment valuations; significant valuation judgments in determination of amount of impairments taken on our investments; limited availability of acceptable yen-denominated investments; concentration of our investments in any particular single-issuer or sector; concentration of business in Japan; increased derivative activities; ongoing changes in our industry; exposure to significant financial and capital markets risk; fluctuations in foreign currency exchange rates; significant changes in investment yield rates; deviations in actual experience from pricing and reserving assumptions; subsidiaries' ability to pay dividends to Aflac Incorporated; changes in law or regulation by governmental authorities; ability to attract and retain qualified sales associates and employees; decreases in our financial strength or debt ratings; ability to continue to develop and implement improvements in information technology systems; interruption in telecommunications, information technology, and other operational systems, or a failure to maintain the security, confidentiality or privacy of sensitive data residing on such systems; changes in U.S. and/or Japanese accounting standards; failure to comply with restrictions on patient privacy and information security; level and outcome of litigation; ability to effectively manage key executive succession; catastrophic events including, but not necessarily limited to, epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis, acts of terrorism and damage incidental to such events; and failure of internal controls or corporate governance policies and procedures.

SOURCE Aflac Incorporated