Aflac and Trupanion announce joint venture


COLUMBUS, Ga. and SEATTLE, November 10, 2022 /PRNewswire/ — Aflac Incorporated (NYSE: AFL), a Fortune 500 company that helps protect more than 50 million people in Japan and United Statesand Trupanion, Inc. (Nasdaq: TRUP), a leader in medical insurance for cats and dogs, announce a joint venture between Aflac Life Insurance Japan and Trupanion to provide high-value pet insurance in Japan. The joint venture, Aflac Pet Insurance, will leverage Aflac’s strong brand, insurance expertise and extensive distribution network in Japan with Trupanion’s pet insurance expertise and leadership.

Beginning in the second half of 2023, pending necessary regulatory approvals, Aflac Pet Insurance will offer high-value pet medical insurance designed to help pet owners budget for unexpected care for their pets.

“We are excited to expand our partnership with Trupanion, the industry leader in pet insurance in the United States, to increase our value proposition in the Japanese market,” said Frederick J. Crawford, President and Chief Operating Officer of Aflac Incorporated. “This joint venture will combine Aflac’s brand recognition, extensive distribution network and industry leadership. Japan with the Trupanion brand, strong reputation and expertise in the pet insurance industry.”

“Aflac Pet Insurance will advance Aflac Japan’s efforts to create shared value as a leading company focused on the ability to ‘live your way’ through solutions that meet their needs,” said Masatoshi Koide, president of Aflac Japan. “We believe this offering will provide individuals and families with protection that is both superior in value to any pet insurance currently available on the market and an excellent complement to our core product portfolio for the third sector.”

“We are delighted to enter Japan thanks to our alliance with Aflac, which remains a shareholder and a supportive partner,” said Tooth Margi, president of Trupanion. “We see an opportunity in the Japanese market for a pet insurance product aligned with the veterinary community. We look forward to partnering with Aflac to build trust between veterinarians and their staff at from Japan more than 10,000 veterinary hospitals. Together, we will ensure that pets insured by Aflac can receive the best veterinary care, regardless of the cost of treatment.”

Aflac Incorporated (NYSE: AFL) is a Fortune 500 company that helps provide protection to more than 50 million people through its subsidiaries in Japan and the United States, which pays cash quickly when policyholders become ill or injured. For more than six decades, Aflac Incorporated subsidiary insurance policies have given policyholders the ability to focus on recovery, not financial stress. In the United States, Aflac is the leading provider of supplemental health insurance products1. Aflac Life Insurance Japan is the leading provider of medical and cancer insurance in Japan, where it secures 1 in 4 households. In 2021, Aflac Incorporated was proud to be ranked among the World’s Most Ethical Companies by Ethisphere for the 16th consecutive year. Also in 2021, the company was included in the Dow Jones Sustainability North America Index and became a signatory to the Principles for Responsible Investment (PRI). In 2022, Aflac Incorporated was on Fortune’s list of the World’s Most Admired Companies for the 21st time and on Bloomberg’s Gender Equality Index for the third consecutive year. To find out how to get help with expenses not covered by health insurance, get to know us at orñol. Investors can learn more about Aflac Incorporated and its commitment to ESG and social responsibility at under “Sustainability”.

1 LIMRA 2021 U.S. Supplementary Health Insurance Total Market Report

Trupanion is a leader in medical insurance for cats and dogs across United States, Canada, Europe, Porto Rico and Australia with over 800,000 registered pets. For over two decades, Trupanion has been providing pet owners peace of mind so they can focus on their pet’s recovery, not financial stress. Trupanion is committed to providing pet owners with the highest value in pet medical insurance with unlimited payments for the life of their pets. With its patented process, Trupanion is the only provider with the technology to pay vets directly within seconds at checkout. Trupanion is listed on NASDAQ under the symbol “TRUP”. The company was founded in 2000 and is based in Seattle, WA. Trupanion policies are issued, in United Statesby its wholly owned insurance 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 more information, visit

The Private Securities Litigation Reform Act of 1995 provides a “safe harbour” to encourage companies to provide forward-looking information, so long as such informational statements are identified as forward-looking and are accompanied by meaningful caveats identifying important factors that could cause lead to real results. differ materially from those included in the forward-looking statements. Aflac and Trupanion wish 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 investment 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 implementation of the alliance, the exploration of opportunities in Japan, the acquisition of the capital of Trupanion by Aflac, and future operations, strategies, financial results or other developments. In addition, 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”, “intend of”, “project”, “will”, “assumes”, “potential”, “target”, “prospects” or similar words together with specific projections of future results, are generally referred to as forward-looking. Aflac and Trupanion do not assume no obligation to update these forward-looking statements.

The Companies caution readers that the following factors, in addition to other factors mentioned by either Company in its SEC filings from time to time, could cause actual results to differ materially of those contemplated by the forward-looking statements:

  • difficult conditions in global financial markets and the economy, including those caused by COVID-19
  • payment defaults and credit downgrades of investments
  • exposure to significant interest rate risk
  • concentration of business in Japan
  • limited availability of acceptable yen-denominated investments
  • foreign currency fluctuations in the yen/dollar exchange rate
  • divergent judgments applied to investment valuations
  • significant valuation judgments in determining expected credit losses recorded on the Company’s investments
  • decrease in the Company’s financial strength or debt rating
  • decline in the solvency of other financial institutions
  • concentration of the Company’s investments in a particular issuer or sector
  • the effects of COVID-19 and its variants (known and emerging), as well as any resulting economic effects and government interventions, on the Company’s business and financial results
  • ability to attract and retain qualified salespeople, brokers, employees and channel partners
  • deviations in actual experience from pricing and provisioning assumptions
  • ability to continue to develop and implement improvements in information technology systems
  • disruption of telecommunications, information technology and other operational systems, or inability to maintain the security, privacy or confidentiality of sensitive data residing on such systems
  • ability of subsidiaries to pay dividends to the parent company
  • inherent limitations of risk management policies and procedures
  • the operational risks of third-party providers
  • the tax rates applicable to the Company may change
  • non-compliance 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 react to market trends
  • catastrophic events, including, but not limited to, as a result of climate change, epidemics, pandemics (such as the COVID-19 coronavirus), tornadoes, hurricanes, earthquakes, tsunamis, wars or other military actions, terrorism or other acts of violence, and damage resulting from such events
  • ability to protect the Aflac brand and corporate reputation
  • ability to effectively manage the succession of key executives
  • changes in accounting standards
  • level and outcome of disputes
  • allegations or determinations of misclassification of workers in United States

Afla Incorporated

Contact analysts and investors – David A. Young706.596.3264 or 800.235.2667 or [email protected]
Media contact – Ines Gutzmer762.207.7601 or [email protected]


Laura BainbridgeCorporate Communications Manager, 206.607.1929 or [email protected]

SOURCEAfla Incorporated


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