Aflac Re Bermuda Ltd has reached an agreement with Japan Post Insurance Co to reinsure a block of whole life annuities through coinsurance.

Japan Post Insurance will continue to service and administer the policies. The transaction was effective March 31, 2026.

No details were given about the value of the deal, or the assets tied to the annuities.

Aflac Re is the reinsurance arm of Aflac Incorporated, a provider of life and health insurance through its subsidiaries in Japan and the US.

“This transaction marks a significant milestone in the history of Aflac Incorporated and Aflac Re,” said Max Brodén, chief financial officer of Aflac Incorporated.

“While Aflac Re has secured multiple reinsurance transactions from Aflac Life Insurance Japan, this is the first transaction with an external party.

“In addition, this transaction further contributes to our strategic partnership with Japan Post Insurance as we aim to create shared value for both our policyholders and shareholders.”

Tsana Nobles, president of Aflac Re Bermuda, added, “We look forward to continuing to build our relationship with Japan Post Insurance. We also look forward to leveraging our expertise to provide similar support for other Japanese life insurers to reduce risk, enhance their capital management and expand their new business opportunities.”