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Aflac State Government Relations Overview

Aflac State Government Relations Overview. October 25, 2013. Aflac Organizational Structure. Department Mission: To influence the decisions and actions of State Government in order to protect and advance Aflac’s corporate interest . Department Objectives. Aflac: Company Overview.

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Aflac State Government Relations Overview

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  1. Aflac State Government Relations Overview October 25, 2013

  2. Aflac Organizational Structure Department Mission: To influence the decisions and actions of State Government in order to protect and advance Aflac’s corporate interest. Department Objectives

  3. Aflac: Company Overview • Founded in 1955 in Columbus, Georgia • Fortune 125 company; $29 billion market capitalization (NYSE: AFL); $118+ billion in assets (2012); $25.4 billion in annual revenues (2012) • Aflac covers over 50 million policyholders worldwide (U.S. and Japan) • #1 insurance company in terms of individual policies in force in Japan, insuring approximately one in four Japanese households • Number one provider of guaranteed-renewable insurance in the U.S. according to National Underwriter. Supplemental insurance market leader in the U.S. with about 25% market share. • Sales in all 50 U.S. states, Puerto Rico and the Virgin Islands, represented by 76,000 agents. U.S. operations in Georgia, Nebraska, South Carolina and New York. • 96% of Aflac U.S. sales are through the worksite. In the U.S., 460,000+ businesses of all sizes and industries offer Aflac on a voluntary basis to their employees. • Aflac, its employees and its independent sales force have contributed over $79 million to the Aflac Cancer and Blood Disorders Center of Children’s Healthcare of Atlanta

  4. Samples of Aflac Recognitions and Awards: Training Black Enterprise America’s Most Admired Companies 40 Best Companies for Diversity Top 100 Organizations with Outstanding Workforce Development Programs Ethisphere Hispanic Corporate 100 Platinum 400 List of Best Big Companies World’s Most Ethical Companies 100 Companies Providing the Most Opportunities for Hispanics Working Mothers Reputation Institute Best Place to Launch a Career Number 58 in U.S. Most Respected Company in US Insurance Industry 100 Best Companies for Working Mothers

  5. State Government Relations: Mission and Objectives Department Mission: To influence the decisions and actions of State Government in order to protect and advance Aflac’s corporate interest. Department Objectives

  6. State Government Relations Workstreams: Five Focus Areas • Examples: • Mandated benefits • Minimum loss ratio requirements • Taxes/Fees • Product approvals • Support Aflac Group and New York company government relations • Examples: • Public Sector Associations • Industry Associations • Like-minded companies • State Regulators and Legislators • Focus on domicile states • Examples: • IAIS • ComFrame • Supervisory College • Examples: • Healthcare Reform • Supplemental products on Exchanges • Federal Insurance Office • Examples: • Derivatives • Investments • Principal-Based Reserves

  7. Government Relations Legislative/Regulatory Monitoring Process

  8. Coalition Building to Resolve and Monitor Issues Aflac Government Relations works with several industry trade associations, legislative and supervisory groups to protect Aflac’s interests and expand market opportunities. Public Sector Associations Industry Associations International Associations

  9. Primary Federal Workstreams With State-level Implications: Healthcare Reform Federal healthcare reform has downstream State consequences and requires close monitoring and mitigation.

  10. Governmental Relations State Alignment WA ME MT VT ND RI NH MN MA OR WI NY CT ID SD MI WY NJ PA IA OH MD NE IN IL DE NV WV VA UT CO DC KS MO KY CA NC TN OK SC AR AZ NM MS AL GA LA HI TX FL AK

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