COLUMBUS, Ga. and SEATTLE, Dec. 14, 2023 /PRNewswire/ —
“Since the institution of a strategic business alliance in November 2020, Aflac Incorporated and Trupanion have shared a typical perception that employers ought to contemplate a bundle of advantages for his or her workers to deal with the rising variety of shoppers whose pets are a significant a part of their households. Our collaboration addresses the rising want for options that assist pet homeowners handle rising veterinary care prices. Together, we’ve got launched a set of high-quality pet medical insurance coverage merchandise available at U.S. worksites. After testing this alignment in Japan, a key marketplace for Aflac, a choice was made to withdraw from growth in Japan, and as a substitute the businesses are specializing in the bigger, underpenetrated North American pet insurance coverage market.”
Aflac Incorporated’s $200 million funding in Trupanion and our distribution alliance underscores our mutual dedication to unlock the numerous, long-term potential of this class and our perception within the merchandise supplied by Trupanion, the most important supplier of pet medical insurance coverage in North America. Our company worksite resolution addresses elevated curiosity to offer workers with complete advantages for his or her pets, simply as Aflac has helped present monetary safety for policyholders for practically seven many years.”
About Aflac Incorporated
Aflac Incorporated (NYSE: AFL), a Fortune 500 firm, has helped present monetary safety and peace of thoughts for greater than 68 years to tens of millions of policyholders and clients via its subsidiaries within the U.S. and Japan. In the U.S., Aflac is the No. 1 supplier of supplemental medical health insurance merchandise.1 In Japan, Aflac Life Insurance Japan is the main supplier of most cancers and medical insurance coverage by way of insurance policies in drive. The Company takes pleasure in being there for its policyholders after they want us most, in addition to being included in 2023 within 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 12 months. In addition, the Company turned a signatory of the Principles for Responsible Investment (PRI) in 2021 and has been included within the Dow Jones Sustainability North America Index (2023) for 10 years. To learn how to get assist with bills medical health insurance does not cowl, get to know us at aflac.com or aflac.com/espanol. Investors might study extra about Aflac Incorporated at buyers.aflac.com and its dedication to company social duty and sustainability below “Sustainability.”
1 LIMRA 2022 U.S. Supplemental Health Insurance Total Market Report
About Trupanion
Trupanion (Nasdaq: TRUP) is a frontrunner in medical insurance coverage for cats and dogs all through the United States, Canada, Europe, Puerto Rico and Australia with over 960,000 pets enrolled. For over twenty years, Trupanion has given pet homeowners peace of thoughts to allow them to deal with their pet’s restoration, not monetary stress. Trupanion is dedicated to offering pet homeowners with the best worth in pet medical insurance coverage with limitless payouts for the lifetime of their pets. With its patented course of, Trupanion is the one North American supplier with the expertise to pay veterinarians immediately in seconds on the time of checkout. Trupanion is listed on NASDAQ below the image “TRUP”. The firm was based in 2000 and is headquartered in Seattle, WA. Trupanion insurance policies are issued, in the United States, by its wholly-owned insurance coverage entity American Pet Insurance Company and, in Canada, by Omega General Insurance Company. Trupanion Australia is a partnership between Trupanion and Hollard Insurance Company. For extra info, please go to trupanion.com.
FORWARD-LOOKING INFORMATION
The Private Securities Litigation Reform Act of 1995 gives a “protected harbor” to encourage corporations to offer potential info, as long as these informational statements are recognized as forward-looking and are accompanied by significant cautionary statements figuring out necessary elements that might trigger precise outcomes to vary materially from these included within the forward-looking statements. Aflac and Trupanion want to reap the benefits of these provisions. This doc comprises cautionary statements figuring out necessary elements that might trigger precise outcomes to vary materially from these projected herein, and in every other statements made by firm officers in communications with the monetary group and contained in paperwork filed with the Securities and Exchange Commission (SEC). Forward-looking statements will not be primarily based on historic info and relate to implementation of the alliance, the exploration of alternatives in Japan, the acquisition of Trupanion fairness by Aflac, and future operations, methods, monetary outcomes or different developments. Furthermore, forward-looking info is topic to quite a few assumptions, dangers and uncertainties. In explicit, statements containing phrases comparable to “anticipate,” “anticipate,” “imagine,” “objective,” “goal,” “might,” “ought to,” “estimate,” “intends,” “tasks,” “will,” “assumes,” “potential,” “goal,” “outlook” or related phrases in addition to particular projections of future outcomes, usually qualify as forward-looking. Aflac and Trupanion undertake no obligation to update such forward-looking statements.
The corporations warning readers that the next elements, along with different elements talked about by both firm in its respective SEC filings once in a while, might trigger precise outcomes to vary materially from these contemplated by the forward-looking statements:
- tough situations in world capital markets and the economic system, together with inflation and the continued results attributable to COVID-19
- defaults and credit score downgrades of investments
- world fluctuations in rates of interest and publicity to vital rate of interest threat
- focus of business in Japan
- restricted availability of acceptable yen-denominated investments
- international foreign money fluctuations within the yen/greenback change charge
- differing interpretations utilized to funding valuations
- vital valuation judgments in dedication of anticipated credit score losses recorded on the Company’s investments
- decreases within the Company’s monetary energy or debt scores
- decline in creditworthiness of different monetary establishments
- focus of the Company’s investments in any explicit single-issuer or sector
- main public well being points, together with COVID-19 and any ensuing or coincidental financial results, on the Company’s business and monetary outcomes
- the Company’s potential to draw and retain certified gross sales associates, brokers, workers, and distribution companions
- deviations in precise expertise from pricing and reserving assumptions
- potential to proceed to develop and implement enhancements in info expertise programs and on profitable execution of income progress and expense administration initiatives
- interruption in telecommunication, info expertise and different operational programs, or a failure to keep up the safety, confidentiality or privateness of delicate information residing on such programs
- subsidiaries’ potential to pay dividends to the Parent Company
- inherent limitations to threat administration insurance policies and procedures
- operational dangers of third-party distributors
- tax charges relevant to the Company might change
- failure to adjust to restrictions on policyholder privateness and data safety
- in depth regulation and adjustments in legislation or regulation by governmental authorities
- aggressive atmosphere and talent to anticipate and reply to market traits
- catastrophic occasions, together with, however not restricted to, on account of local weather change, epidemics, pandemics (comparable to COVID-19), tornadoes, hurricanes, earthquakes, tsunamis, conflict or different army motion, terrorism or different acts of violence, and injury incidental to such occasions
- potential to guard the Aflac model and the Company’s status
- potential to successfully handle key government succession adjustments in accounting requirements
- degree and end result of litigation
- allegations or determinations of employee misclassification in the United States
Aflac Incorporated
Analyst and investor contact – David A. Young, 706.596.3264; 800.235.2667 or [email protected]
Media contact – Ines Gutzmer, 762.207.7601 or [email protected]
Trupanion
Laura Bainbridge, Head of Corporate Communications, 206.607.1929 or [email protected]
SOURCE Aflac Incorporated
