Aflac
 |
|
| Public | |
| Traded as | : AFL S&P 500 component |
| Industry | Financial services |
| Founded | June 23, 1955 |
| Founder | John Amos Paul Amos Bill Amos |
| Headquarters |
Aflac Building Columbus, Georgia, U.S. |
|
Area served
|
Japan United States |
|
Key people
|
Dan Amos (Chairman, CEO) |
| Products | Supplemental health and life insurance |
| Revenue |
 US$22.171 billion (FY 2011)
|
 $2.992 billion (FY 2011)
|
|
|
$1.964 billion (FY 2011)
|
|
| Total assets | |
| Total equity |
$13.506 billion (FY 2011)
|
|
Number of employees
|
9,235 (December 2014) |
| Website | aflac |
Aflac Inc. /ˈæflæk/ (American Family Life Assurance Company) is an American insurance company and is the largest provider of supplemental insurance in the United States, founded in 1955 and based in Columbus, Georgia. In the U.S., Aflac underwrites a wide range of insurance policies, but is perhaps more known for its payroll deduction insurance coverage, which pays cash benefits when a policyholder has a covered accident or illness. The company states it "provides financial protection to more than 50 million people worldwide."
In 2009, Aflac acquired Continental American Insurance Company for $100 million; this enabled Aflac to sell supplemental insurance on both the individual and group platform. As of June 30, 2012, Aflac was represented by approximately 19,300 sales agencies in Japan, and 76,900 licensed sales associates in the U.S.
The company was founded by brothers John, Paul (died 2014), and William Amos in Columbus, Georgia, in 1955, as American Family Life Insurance Company of Columbus. In 1964, the company name was changed to American Family Life Assurance Company of Columbus. The company, in 1990, adopted the Aflac initials, although the official name of the underwriting subsidiary remains American Family Life Assurance Company of Columbus. Aflac announced the appointment of Frederick J. Crawford as Chief Financial Officer, as well as Executive Vice President in June 2015.
The company signed 6,426 policyholders in its first year. Aflac pioneered cancer insurance in 1958. Beginning in 1964, the company decided to focus sales on worksite settings, eventually through policies sponsored by employers and funded through payroll deductions. By 2003, more than 98% of Aflac policies in the United States were issued on a payroll deduction basis, making the company a leader in that approach to policy distribution.
Aflac operates in the United States and Japan, and has its worldwide headquarters and corporate offices in an eighteen story tower just east of Downtown Columbus, Georgia in an area known as MidTown. The Aflac tower is the tallest building in the city. As of June 30, 2015, the corporation's total assets were more than $103 billion, and the company insured more than 50 million people worldwide.
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Wikipedia