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POLICY LIABILITIES - Schedule of Changes in Present Value of Expected Net Premiums and Expected Future Policy Benefits (Details) - USD ($)
$ in Millions
3 Months Ended 12 Months Ended
Mar. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Present value of expected future policy benefits:      
Beginning balance $ 111,508    
Ending balance 113,348 $ 111,508  
Net liability for future policy benefits 71,197 70,381  
Aflac Japan | Cancer      
Present value of expected premiums:      
Beginning balance 14,184 17,509  
Beginning balance at original discount rate 14,008 16,452  
Effect of changes in cash flow assumptions   0 $ (625)
Effect of actual variances from expected experience   (6) (71)
Adjusted beginning of period balance   14,002  
Issuances 211 983  
Interest accrual 91 378  
Net premiums collected [1] (350) (1,453)  
Foreign currency translation 812 (1,655)  
Other 0 (1)  
Ending balance at original discount rate 14,766 14,008  
Effect of changes in discount rate assumptions (270) 176  
Ending balance 14,496 14,184  
Present value of expected future policy benefits:      
Beginning balance 40,781 50,161  
Beginning balance at original discount rate 37,856 43,626  
Effect of changes in cash flow assumptions   0 (815)
Effect of actual variances from expected experience   (20) (117)
Adjusted beginning of period balance   37,836 42,694
Issuances 215 1,004  
Interest accrual 324 1,356  
Benefit payments (666) (2,773)  
Foreign currency translation 2,191 (4,425)  
Other 0 0  
Ending balance at original discount rate 39,900 37,856  
Effect of changes in discount rate assumptions 1,538 2,925  
Ending balance 41,438 40,781  
Net liability for future policy benefits 26,942 26,597  
Less: reinsurance recoverable 5,156 5,085  
Net liability for future policy benefits after reinsurance recoverable 21,786 21,512 15,756
Aflac Japan | Medical and other health      
Present value of expected premiums:      
Beginning balance 11,817 14,697  
Beginning balance at original discount rate 11,845 14,040  
Effect of changes in cash flow assumptions   0 (154)
Effect of actual variances from expected experience   (45) (164)
Adjusted beginning of period balance   11,800  
Issuances 72 361  
Interest accrual 72 302  
Net premiums collected [1] (268) (1,135)  
Foreign currency translation 685 (1,405)  
Other 0 0  
Ending balance at original discount rate 12,361 11,845  
Effect of changes in discount rate assumptions (415) (28)  
Ending balance 11,946 11,817  
Present value of expected future policy benefits:      
Beginning balance 20,606 25,257  
Beginning balance at original discount rate 21,957 25,023  
Effect of changes in cash flow assumptions   0 (228)
Effect of actual variances from expected experience   (55) (193)
Adjusted beginning of period balance   21,902 24,602
Issuances 75 373  
Interest accrual 138 570  
Benefit payments (246) (1,033)  
Foreign currency translation 1,270 (2,555)  
Other 0 0  
Ending balance at original discount rate 23,139 21,957  
Effect of changes in discount rate assumptions (2,291) (1,351)  
Ending balance 20,848 20,606  
Net liability for future policy benefits 8,902 8,789  
Less: reinsurance recoverable 1,259 1,245  
Net liability for future policy benefits after reinsurance recoverable 7,643 7,544 13,722
Aflac Japan | Life insurance      
Present value of expected premiums:      
Beginning balance 5,156 6,488  
Beginning balance at original discount rate 5,084 6,258  
Effect of changes in cash flow assumptions   0 (190)
Effect of actual variances from expected experience   (10) (97)
Adjusted beginning of period balance   5,074  
Issuances 120 478  
Interest accrual 27 110  
Net premiums collected [1] (201) (862)  
Foreign currency translation 292 (613)  
Other 0 0  
Ending balance at original discount rate 5,312 5,084  
Effect of changes in discount rate assumptions (29) 72  
Ending balance 5,283 5,156  
Present value of expected future policy benefits:      
Beginning balance 24,265 29,731  
Beginning balance at original discount rate 26,330 30,256  
Effect of changes in cash flow assumptions   0 (302)
Effect of actual variances from expected experience   (7) (110)
Adjusted beginning of period balance   26,323 29,844
Issuances 122 488  
Interest accrual 141 582  
Benefit payments (604) (1,510)  
Foreign currency translation 1,518 (3,074)  
Other 0 0  
Ending balance at original discount rate 27,500 26,330  
Effect of changes in discount rate assumptions (3,022) (2,065)  
Ending balance 24,478 24,265  
Net liability for future policy benefits 19,195 19,109  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 19,195 19,109 5,971
Aflac Japan | Other      
Present value of expected premiums:      
Beginning balance 846 1,088  
Beginning balance at original discount rate 864 1,069  
Effect of changes in cash flow assumptions   0 (19)
Effect of actual variances from expected experience   (2) (14)
Adjusted beginning of period balance   862  
Issuances 3 16  
Interest accrual 4 17  
Net premiums collected [1] (24) (101)  
Foreign currency translation 50 (104)  
Other 0 0  
Ending balance at original discount rate 895 864  
Effect of changes in discount rate assumptions (42) (18)  
Ending balance 853 846  
Present value of expected future policy benefits:      
Beginning balance 4,225 5,178  
Beginning balance at original discount rate 4,765 5,444  
Effect of changes in cash flow assumptions   0 (7)
Effect of actual variances from expected experience   (7) (24)
Adjusted beginning of period balance   4,758 5,413
Issuances 4 22  
Interest accrual 22 93  
Benefit payments (57) (208)  
Foreign currency translation 276 (555)  
Other 0 0  
Ending balance at original discount rate 5,003 4,765  
Effect of changes in discount rate assumptions (736) (540)  
Ending balance 4,267 4,225  
Net liability for future policy benefits 3,414 3,379  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 3,414 3,379 1,036
Aflac U.S. | Life insurance      
Present value of expected premiums:      
Beginning balance 909 853  
Beginning balance at original discount rate 976 909  
Effect of changes in cash flow assumptions   0 (5)
Effect of actual variances from expected experience   (9) (29)
Adjusted beginning of period balance   967  
Issuances 70 226  
Interest accrual 10 37  
Net premiums collected [1] (41) (157)  
Foreign currency translation 0 0  
Other 0 (5)  
Ending balance at original discount rate 1,006 976  
Effect of changes in discount rate assumptions (53) (67)  
Ending balance 953 909  
Present value of expected future policy benefits:      
Beginning balance 1,847 1,764  
Beginning balance at original discount rate 2,126 1,971  
Effect of changes in cash flow assumptions   0 (3)
Effect of actual variances from expected experience   (14) (43)
Adjusted beginning of period balance   2,112 1,925
Issuances 77 231  
Interest accrual 21 78  
Benefit payments (27) (108)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,183 2,126  
Effect of changes in discount rate assumptions (255) (279)  
Ending balance 1,928 1,847  
Net liability for future policy benefits 975 938  
Less: reinsurance recoverable 20 18  
Net liability for future policy benefits after reinsurance recoverable 955 920 875
Aflac U.S. | Accident      
Present value of expected premiums:      
Beginning balance 2,497 2,488  
Beginning balance at original discount rate 2,687 2,630  
Effect of changes in cash flow assumptions   0 65
Effect of actual variances from expected experience   (14) 66
Adjusted beginning of period balance   2,673  
Issuances 108 307  
Interest accrual 27 106  
Net premiums collected [1] (119) (479)  
Foreign currency translation 0 0  
Other 0 (8)  
Ending balance at original discount rate 2,689 2,687  
Effect of changes in discount rate assumptions (160) (190)  
Ending balance 2,529 2,497  
Present value of expected future policy benefits:      
Beginning balance 3,127 3,109  
Beginning balance at original discount rate 3,386 3,302  
Effect of changes in cash flow assumptions   0 109
Effect of actual variances from expected experience   (13) 91
Adjusted beginning of period balance   3,373 3,502
Issuances 113 311  
Interest accrual 34 133  
Benefit payments (144) (560)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 3,376 3,386  
Effect of changes in discount rate assumptions (221) (259)  
Ending balance 3,155 3,127  
Net liability for future policy benefits 626 630  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 626 630 2,761
Aflac U.S. | Disability      
Present value of expected premiums:      
Beginning balance 1,635 1,652  
Beginning balance at original discount rate 1,726 1,738  
Effect of changes in cash flow assumptions   0 (47)
Effect of actual variances from expected experience   (18) 12
Adjusted beginning of period balance   1,708  
Issuances 118 364  
Interest accrual 17 66  
Net premiums collected [1] (99) (401)  
Foreign currency translation 0 0  
Other 0 (6)  
Ending balance at original discount rate 1,744 1,726  
Effect of changes in discount rate assumptions (72) (91)  
Ending balance 1,672 1,635  
Present value of expected future policy benefits:      
Beginning balance 2,330 2,422  
Beginning balance at original discount rate 2,466 2,541  
Effect of changes in cash flow assumptions   0 (73)
Effect of actual variances from expected experience   (24) (16)
Adjusted beginning of period balance   2,442 2,452
Issuances 125 381  
Interest accrual 24 98  
Benefit payments (120) (465)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,471 2,466  
Effect of changes in discount rate assumptions (109) (136)  
Ending balance 2,362 2,330  
Net liability for future policy benefits 690 695  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 690 695 1,703
Aflac U.S. | Critical Care      
Present value of expected premiums:      
Beginning balance 3,901 4,074  
Beginning balance at original discount rate 4,340 4,416  
Effect of changes in cash flow assumptions   0 (106)
Effect of actual variances from expected experience   (9) (100)
Adjusted beginning of period balance   4,331  
Issuances 214 543  
Interest accrual 44 173  
Net premiums collected [1] (142) (578)  
Foreign currency translation 0 0  
Other 0 (8)  
Ending balance at original discount rate 4,447 4,340  
Effect of changes in discount rate assumptions (389) (439)  
Ending balance 4,058 3,901  
Present value of expected future policy benefits:      
Beginning balance 10,701 11,290  
Beginning balance at original discount rate 12,013 12,120  
Effect of changes in cash flow assumptions   0 (112)
Effect of actual variances from expected experience   (13) (144)
Adjusted beginning of period balance   12,000 11,864
Issuances 226 559  
Interest accrual 129 515  
Benefit payments (249) (925)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 12,106 12,013  
Effect of changes in discount rate assumptions (1,184) (1,312)  
Ending balance 10,922 10,701  
Net liability for future policy benefits 6,864 6,800  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 6,864 6,800 4,210
Aflac U.S. | Hospital Indemnity      
Present value of expected premiums:      
Beginning balance 1,122 1,107  
Beginning balance at original discount rate 1,221 1,193  
Effect of changes in cash flow assumptions   0 (21)
Effect of actual variances from expected experience   (1) 21
Adjusted beginning of period balance   1,220  
Issuances 88 231  
Interest accrual 12 46  
Net premiums collected [1] (61) (244)  
Foreign currency translation 0 0  
Other 0 (5)  
Ending balance at original discount rate 1,259 1,221  
Effect of changes in discount rate assumptions (86) (99)  
Ending balance 1,173 1,122  
Present value of expected future policy benefits:      
Beginning balance 1,897 1,943  
Beginning balance at original discount rate 2,073 2,076  
Effect of changes in cash flow assumptions   0 (31)
Effect of actual variances from expected experience   (3) 21
Adjusted beginning of period balance   2,070 2,066
Issuances 92 237  
Interest accrual 21 84  
Benefit payments (84) (314)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 2,099 2,073  
Effect of changes in discount rate assumptions (154) (176)  
Ending balance 1,945 1,897  
Net liability for future policy benefits 772 775  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 772 775 1,193
Aflac U.S. | Dental/Vision      
Present value of expected premiums:      
Beginning balance 196 206  
Beginning balance at original discount rate 209 217  
Effect of changes in cash flow assumptions   0 (17)
Effect of actual variances from expected experience   (4) (12)
Adjusted beginning of period balance   205  
Issuances 17 52  
Interest accrual 2 9  
Net premiums collected [1] (10) (39)  
Foreign currency translation 0 0  
Other 0 (1)  
Ending balance at original discount rate 214 209  
Effect of changes in discount rate assumptions (11) (13)  
Ending balance 203 196  
Present value of expected future policy benefits:      
Beginning balance 441 478  
Beginning balance at original discount rate 477 506  
Effect of changes in cash flow assumptions   0 (28)
Effect of actual variances from expected experience   (4) (16)
Adjusted beginning of period balance   473 462
Issuances 15 55  
Interest accrual 5 20  
Benefit payments (15) (60)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 478 477  
Effect of changes in discount rate assumptions (30) (36)  
Ending balance 448 441  
Net liability for future policy benefits 245 245  
Less: reinsurance recoverable 0 0  
Net liability for future policy benefits after reinsurance recoverable 245 245 188
Aflac U.S. | Other      
Present value of expected premiums:      
Beginning balance 826 277  
Beginning balance at original discount rate 824 272  
Effect of changes in cash flow assumptions   0 (8)
Effect of actual variances from expected experience   3 13
Adjusted beginning of period balance   827  
Issuances 229 592  
Interest accrual 11 25  
Net premiums collected [1] (22) (53)  
Foreign currency translation 0 0  
Other (10) (17)  
Ending balance at original discount rate 1,035 824  
Effect of changes in discount rate assumptions 55 2  
Ending balance 1,090 826  
Present value of expected future policy benefits:      
Beginning balance 1,288 798  
Beginning balance at original discount rate 1,293 769  
Effect of changes in cash flow assumptions   0 (12)
Effect of actual variances from expected experience   4 (7)
Adjusted beginning of period balance   1,297 750
Issuances 232 597  
Interest accrual 17 50  
Benefit payments (41) (104)  
Foreign currency translation 0 0  
Other 0 0  
Ending balance at original discount rate 1,505 1,293  
Effect of changes in discount rate assumptions 52 (5)  
Ending balance 1,557 1,288  
Net liability for future policy benefits 467 462  
Less: reinsurance recoverable 2 0  
Net liability for future policy benefits after reinsurance recoverable $ 465 $ 462 $ 277
[1] Net premiums collected represent the portion of gross premiums collected from policyholders that is used to fund expected future benefit payments.