COLUMBUS, Ga., Nov. 17, 2021 /PRNewswire/ -- Aflac
Incorporated (NYSE: AFL) announced today that it has become a
signatory of Principles for Responsible Investment (PRI), the
leading global network of asset owners, asset managers and service
providers committed to incorporating its six Principles, which
offer a blueprint of possible actions for incorporating
Environmental, Social and Governance (ESG) issues into its
investment and ownership decisions.
Aflac Global Investments, as the entity responsible for
investing and protecting the policyholder funds entrusted to it by
Aflac Incorporated's insurance subsidiaries, published an ESG
Investing Policy at the end of 2020 that applied to the nearly
$129 billion of general account
assets, including assets managed by third-party asset managers.
Aflac Incorporated ended 2020 with impact and sustainable
investments with over $1.7 billion of
private and public investments in bonds and other debt instruments,
as well as private equity. Then, in March
2021, Aflac Incorporated announced that it had closed its
inaugural sustainability bond, which further reinforced the
company's longstanding commitment to upholding its core values of a
"people-first" business approach that balances purpose and profit
and operating with the utmost respect for the environment and the
communities it serves. By signing PRI, Aflac Incorporated and
Aflac Global Investments are taking the next natural step in
advancing their responsible investing framework.
President and Chief Operating Officer of Aflac Incorporated
Frederick J. Crawford commented:
"Integrating ESG principles into Aflac Incorporated's business has
been a critical part of our operations for more than 30 years, even
before it was widely referred to as 'ESG.' Naturally, our
commitment extends to our core investment philosophy, which Aflac
Global Investments practices for evaluating every investment
decision we make. We believe that being true to what our company
stands for, including the investments we make, is just as important
as the products and services we provide, and becoming a PRI
signatory underscores that commitment to our policyholders, to
investors and to our customers. Our work to date has paved the way
for what we believe is helping to make a direct and measurable
positive impact on society and the environment."
Aflac Incorporated Executive Vice President; Global Chief
Investment Officer and President of Aflac Asset Management LLC
Eric M. Kirsch added, "When we think
about the business of Aflac, which includes investments, we want to
have purpose and do measurable good for society and the planet.
Becoming a PRI signatory reinforces our practice of integrating ESG
factors into Aflac Global Investments' core investment
philosophy. We believe this leads to better decisions with
respect to the sustainability of an investment and its risk and
return profile, while helping to make a positive financial and
social impact on all of Aflac's stakeholders."
PRI CEO Fiona Reynolds said: "We
are very pleased to welcome Aflac Incorporated as a PRI signatory.
The insurance sector is increasingly visible in sustainable
investing, and we hope that Aflac Incorporated joining the PRI
encourages others in the sector to join them in recognizing the
importance of integrating ESG factors into investment and ownership
decisions. We look forward to working with the team."
ABOUT AFLAC INCORPORATED
Aflac Incorporated (NYSE:
AFL) is a Fortune 500 company helping provide protection to more
than 50 million people through its subsidiaries in Japan and the U.S., where it is a leading
supplemental insurer by paying cash fast when policyholders get
sick or injured. For more than six decades, insurance policies of
Aflac Incorporated's subsidiaries have given policyholders the
opportunity to focus on recovery, not financial stress. Aflac Life
Insurance Japan is the leading provider of medical and cancer
insurance in Japan where it
insures 1 in 4 households. For 15 consecutive years, Aflac
Incorporated has been recognized by Ethisphere as one of the
World's Most Ethical Companies. In 2021, Fortune included Aflac
Incorporated on its list of World's Most Admired Companies for the
20th time, and Bloomberg added Aflac Incorporated to its
Gender-Equality Index, which tracks the financial performance of
public companies committed to supporting gender equality through
policy development, representation and transparency, for the second
consecutive year. To find out how to get help with expenses health
insurance doesn't cover, get to know us at aflac.com. Investors may
learn more about Aflac Incorporated and its commitment to ESG and
social responsibility at investors.aflac.com and esg.aflac.com.
ABOUT AFLAC GLOBAL INVESTMENTS
Aflac Global
Investments refers to Aflac Asset Management LLC, Aflac Asset
Management Japan Ltd., and Aflac GI Holdings LLC., which are the
asset management subsidiaries of Aflac Incorporated. Aflac Global
Investments is responsible for managing the invested assets of
Aflac Incorporated's insurance subsidiaries in Japan and
the U.S. As of December 2020, Aflac Global Investments managed
nearly $129 billion in general account assets and had 133
investment and support professionals who work at its offices
in New York and Tokyo.
ABOUT PRI
The PRI works to understand the investment implications of
environmental, social and governance (ESG) factors and to support
its international network of investor signatories in incorporating
these factors into their investment and ownership decisions. The
PRI acts in the long-term interests of its signatories, of the
financial markets and economies in which they operate and
ultimately of the environment and society as a whole. Launched in
New York in 2006, the PRI has
grown to more than 4,300 signatories, managing over US $121 trillion AUM.
FORWARD-LOOKING INFORMATION
The Private Securities
Litigation Reform Act of 1995 provides a "safe harbor" to encourage
companies to provide prospective information, so long as those
informational statements are identified as forward-looking and are
accompanied by meaningful cautionary statements identifying
important factors that could cause actual results to differ
materially from those included in the forward-looking statements.
The company desires to take advantage of these provisions. This
document contains cautionary statements identifying important
factors that could cause actual results to differ materially from
those projected herein, and in any other statements made by company
officials in communications with the financial community and
contained in documents filed with the Securities and Exchange
Commission (SEC). Forward-looking statements are not based on
historical information and relate to future operations, strategies,
financial results or other developments. Furthermore,
forward-looking information is subject to numerous assumptions,
risks and uncertainties. In particular, statements containing words
such as "expect," "anticipate," "believe," "goal," "objective,"
"may," "should," "estimate," "intends," "projects," "will,"
"assumes," "potential," "target," "outlook" or similar words as
well as specific projections of future results, generally qualify
as forward-looking. Aflac undertakes no obligation to update such
forward-looking statements.
The company cautions readers that the following factors, in
addition to other factors mentioned from time to time, could cause
actual results to differ materially from those contemplated by the
forward-looking statements:
- difficult conditions in global capital markets and the
economy, including those caused by COVID-19
- defaults and credit downgrades of investments
- exposure to significant interest rate risk
- concentration of business in Japan
- significant valuation judgments in determination of expected
credit losses recorded on the Company's investments
- decreases in the Company's financial strength or debt
ratings
- decline in creditworthiness of other financial
institutions
- concentration of the Company's investments in any particular
single-issuer or sector
- the effects of COVID-19 and its variants (both known and
emerging), and any resulting economic effects and government
interventions, on the Company's business and financial
results
- ability to attract and retain qualified sales associates,
brokers, employees, and distribution partners
- deviations in actual experience from pricing and reserving
assumptions
- ability to continue to develop and implement improvements in
information technology systems
- interruption in telecommunication, information technology
and other operational systems, or a failure to maintain the
security, confidentiality or privacy of sensitive data residing on
such systems
- subsidiaries' ability to pay dividends to the Parent
Company
- inherent limitations to risk management policies and
procedures
- limited availability of acceptable yen-denominated
investments
- foreign currency fluctuations in the yen/dollar exchange
rate
- differing judgments applied to investment
valuations
- the level of sales of Aflac Japan products in the Japan Post
channel
- tax rates applicable to the Company may change
- failure to comply with restrictions on policyholder privacy
and information security
- extensive regulation and changes in law or regulation by
governmental authorities
- competitive environment and ability to anticipate and
respond to market trends
- catastrophic events, including, but not limited to, as a
result of climate change, epidemics, pandemics (such as the
coronavirus COVID-19), tornadoes, hurricanes, earthquakes,
tsunamis, war or other military action, terrorism or other acts of
violence, and damage incidental to such events
- ability to protect the Aflac brand and the Company's
reputation
- ability to effectively manage key executive
succession
- changes in accounting standards
- level and outcome of litigation
- allegations or determinations of worker misclassification in
the United States
Analyst and investor contact - David A.
Young, 706.596.3264 or 800.235.2667 or dyoung@aflac.com
Media contact – Ines Gutzmer,
762.207.7601 or igutzmer@aflac.com
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SOURCE Aflac Incorporated