Statement from Aflac Incorporated and Trupanion Confirming Commitment to Strategic Alliance in North America

COLUMBUS, Ga. and SEATTLE, Dec. 14, 2023 (GLOBE NEWSWIRE) -- “Since the establishment of a strategic business alliance in November 2020, Aflac Incorporated and Trupanion have shared a common belief that employers should consider a package of benefits for their employees to address the increasing number of consumers whose pets are a vital part of their families. Our collaboration addresses the growing need for solutions that help pet owners manage rising veterinary care costs. Together, we have launched a suite of high-quality pet medical insurance products available at U.S. worksites. After testing this alignment in Japan, a key market for Aflac, a decision was made to withdraw from development in Japan, and instead the companies are focusing on the larger, underpenetrated North American pet insurance market.”

″Aflac Incorporated’s $200 million investment in Trupanion and our distribution alliance underscores our mutual commitment to unlock the significant, long-term potential of this category and our belief in the products offered by Trupanion, the largest provider of pet medical insurance in North America. Our corporate worksite solution addresses increased interest to provide employees with comprehensive benefits for their pets, just as Aflac has helped provide financial protection for policyholders for nearly seven decades.”

About Aflac Incorporated

Aflac Incorporated (NYSE: AFL), a Fortune 500 company, has helped provide financial protection and peace of mind for more than 68 years to millions of policyholders and customers through its subsidiaries in the U.S. and Japan. In the U.S., Aflac is the No. 1 provider of supplemental health insurance products.1 In Japan, Aflac Life Insurance Japan is the leading provider of cancer and medical insurance in terms of policies in force. The Company takes pride in being there for its policyholders when they need us most, as well as being included in 2023 in the World’s Most Ethical Companies by Ethisphere for 17 consecutive years, Fortune’s World’s Most Admired Companies for 22 years and Bloomberg’s Gender-Equality Index for the fourth consecutive year. In addition, the Company became a signatory of the Principles for Responsible Investment (PRI) in 2021 and has been included in the Dow Jones Sustainability North America Index (2023) for 10 years. To find out how to get help with expenses health insurance doesn't cover, get to know us at aflac.com or aflac.com/espanol. Investors may learn more about Aflac Incorporated at investors.aflac.com and its commitment to corporate social responsibility and sustainability under “Sustainability.”