Aflac Japan And Japan Post Holdings sign new agreement to expand -, GA News Weather & Sports

Aflac Japan And Japan Post Holdings sign new agreement to expand distribution


Aflac Incorporated announced Friday, July 26, that Aflac Japan and JapanPost Holdings have entered into a new agreement, further expanding their partnershipthat was initially established in 2008.

Aflac Japan will remain the exclusive provider of cancer insurancedistributed through post offices nationwide across Japan.

Through this alliance, Japan Post Holdings intends to expand the number ofpost offices that offer Aflac's cancer products, gradually increasing from1,000 postal outlets to 20,000 outlets. Also, subject to regulatory approval,Japan Post Insurance (Kampo) will enter into an agency contract with AflacJapan to begin distributing Aflac Japan's cancer insurance products at all ofKampo's 79 directly managed sales offices. Upon consultations with Japan Postgroup, Aflac Japan will consider developing an exclusive cancer product forboth Japan Post and Kampo.

Japan Post group consists of Japan Post Holdings and its three operatingsubsidiaries: Japan Post Co., Ltd.; Japan Post Insurance Co., Ltd. (Kampo); andJapan Post Bank Co., Ltd. These subsidiaries provide universal postal servicesas well as a variety of financial products to post offices throughout Japan.

Commenting on the announcement, Aflac Incorporated Chairman and ChiefExecutive Officer Daniel P. Amos said: "Weare very pleased that Japan Post Holdings chose Aflac Japan's cancer insuranceproducts to sell through its vast number of post offices all across Japan. We believe their selection of our cancerproducts reflects the overall strength of the Aflac brand, our reputation forquality customer service, and the comprehensive support we provide to ourcustomers and agents."

Also commenting on the announcement, Japan Post Holdings President and CEO Taizo Nishimuro said: "Aflac has a long trackrecord as the leader in Japan's cancer insurancemarket, so from the Japan Post group's perspective, deepening cooperation withthem will enhance the value of our post offices and improve convenience for ourcustomers in all parts of the country. This partnership is of the utmostsignificance as it will bolster our earnings and increase the Japan Postgroup's corporate value in preparation for our IPO in the near future."

Source: Aflac Incorporated.

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