Daniel P. Amos
Chairman and Chief Executive, Aflac, Inc.
Excerpt from remarks to Boston College’s Chief Executives’ Club of Boston
November 29, 2012
TAKEAWAY: Aflac in Japan
Today, we insure one out of four households in Japan, and we have 97 percent name recognition in Japan, which is even higher than in the United States. Our operations in Japan account for three-quarters of our earnings, and we now have more than three-quarters of our $138 billion in assets in Japan. We are the number one insurance company in Japan in terms of policies in force, passing Nippon Life, who held that title for over 100 years. We insure nearly 90 percent of all the companies listed on the Tokyo Stock Exchange, most government agencies, including the Ministry of Health and Welfare, and the Ministry of Defense.
Our operations in Japan employ about 5,000 people, which is approximately the same number we employ here in the U.S. In addition, we have 120,000 independent agents who sell for us in Japan, and over 82 offices.
I started off with the information about Japan because, as all of you are aware, last year there was a major earthquake and tsunami that caused more than 20,000 deaths. It absolutely devastated the country, and certainly tested the resolve of millions of Japanese.