Aflac Incorporated reported second quarter 2026 results with net earnings of $825 million, or $1.63 per diluted share, compared with $599 million, or $1.11 per diluted share a year ago. Total revenues decreased 1.0% to $4.1 billion. Adjusted earnings were $883 million, down 7.7% from $957 million in the prior year quarter. Adjusted earnings per diluted share decreased 1.7% to $1.75. The company returned $1.3 billion to shareholders through $983 million in share repurchases and $309 million in dividends. Chairman and CEO Daniel Amos highlighted successful product initiatives in Japan and focus on supplemental health products in the US. The board declared a third quarter dividend of $0.61 per share, payable on 1 September 2026 to shareholders of record on 19 August 2026.

Aflac has filed an omnibus shelf registration statement covering common stock, debt securities, warrants and other instruments, whilst launching its Fit Checks cancer screening awareness campaign with fashion designer Rachel Zoe. The campaign uses QR-enabled fashion pieces to link wearable design with cancer risk education. The moves demonstrate Aflac's strategy of combining capital markets flexibility with brand-building in preventive health. However, the initiatives don't materially change near-term earnings catalysts or key risks including declining Japanese premiums, currency volatility and investment income pressure. The company's second quarter 2026 earnings release, scheduled for 6-7 August, will provide insight into whether new products and digital initiatives are improving premium trends and margins in Japan and the US, Aflac's primary markets.

US insurer Aflac has sold a ¥65.9 billion ($415 million) yen bond across four tranches, with the 10-year tenor carrying a 3.482% coupon. The offering follows similar moves by foreign issuers including Alphabet and Berkshire Hathaway tapping Japan's credit market. The issuance marks a continuation of Aflac's regular yen bond programme, though the amount was below last year's ¥74.9 billion. Foreign borrowers are capitalising on relatively low funding costs in Japan, benefiting from the wide gap between US and Japanese interest rates. Yen bond issuance by overseas borrowers has surged more than 250% this year to approximately ¥1.6 trillion as of 20 May, compared to the same period in 2025, according to Bloomberg data.