Aflac Re Bermuda Ltd. has agreed to reinsure a block of whole life annuities issued by Japan Post Insurance Co. through a coinsurance structure. Japan Post Insurance will continue servicing and administering the included policies, with the transaction effective March 31, 2026.

This deal represents Aflac Re’s first reinsurance engagement with an external party, expanding beyond its previous transactions with Aflac Life Insurance Japan. The transaction highlights Aflac’s ambition to grow its reinsurance footprint in Japan and deliver shared value to policyholders and shareholders.

By transferring annuity liabilities via coinsurance, Aflac Re enhances its capital management capabilities and reduces on-balance-sheet risk exposure. Company leaders view the partnership as a catalyst for future transactions with other Japanese insurers, leveraging Aflac Re’s risk mitigation expertise.