Statement from Aflac Incorporated and Trupanion Confirming Commitment to Strategic Alliance in North America
15 Dezember 2023 - 2:00AM
“Since the establishment of a strategic business alliance in
November 2020, Aflac Incorporated and Trupanion have shared a
common belief that employers should consider a package of benefits
for their employees to address the increasing number of consumers
whose pets are a vital part of their families. Our collaboration
addresses the growing need for solutions that help pet owners
manage rising veterinary care costs. Together, we have launched a
suite of high-quality pet medical insurance products available at
U.S. worksites. After testing this alignment in Japan, a key market
for Aflac, a decision was made to withdraw from development in
Japan, and instead the companies are focusing on the larger,
underpenetrated North American pet insurance market.”
″Aflac Incorporated’s $200 million investment in
Trupanion and our distribution alliance underscores our mutual
commitment to unlock the significant, long-term potential of this
category and our belief in the products offered by Trupanion, the
largest provider of pet medical insurance in North
America. Our corporate worksite solution addresses increased
interest to provide employees with comprehensive benefits for their
pets, just as Aflac has helped provide financial protection for
policyholders for nearly seven decades.”
About Aflac Incorporated
Aflac Incorporated (NYSE: AFL), a Fortune 500
company, has helped provide financial protection and peace of mind
for more than 68 years to millions of policyholders and customers
through its subsidiaries in the U.S. and Japan. In the U.S., Aflac
is the No. 1 provider of supplemental health insurance products.1
In Japan, Aflac Life Insurance Japan is the leading provider of
cancer and medical insurance in terms of policies in force. The
Company takes pride in being there for its policyholders when they
need us most, as well as being included in 2023 in the World’s Most
Ethical Companies by Ethisphere for 17 consecutive years, Fortune’s
World’s Most Admired Companies for 22 years and Bloomberg’s
Gender-Equality Index for the fourth consecutive year. In addition,
the Company became a signatory of the Principles for Responsible
Investment (PRI) in 2021 and has been included in the Dow Jones
Sustainability North America Index (2023) for 10 years. To find out
how to get help with expenses health insurance doesn't cover, get
to know us at aflac.com or aflac.com/espanol. Investors may learn
more about Aflac Incorporated at investors.aflac.com and its
commitment to corporate social responsibility and sustainability
under “Sustainability.” 1 LIMRA 2022 U.S. Supplemental Health
Insurance Total Market Report
About Trupanion Trupanion
(Nasdaq: TRUP) is a leader in medical insurance for cats and dogs
throughout the United States, Canada, Europe, Puerto Rico and
Australia with over 960,000 pets enrolled. For over two decades,
Trupanion has given 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 payouts for the life of their pets. With
its patented process, Trupanion is the only North American provider
with the technology to pay veterinarians directly in seconds at the
time of checkout. Trupanion is listed on NASDAQ under the symbol
"TRUP". The company was founded in 2000 and is headquartered in
Seattle, WA. Trupanion policies are issued, in the United States,
by 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, please visit trupanion.com.
FORWARD-LOOKING INFORMATION The
Private Securities Litigation Reform Act of 1995 provides a "safe
harbor" to encourage companies to provide prospective information,
so long as those informational statements are identified as
forward-looking and are accompanied by meaningful cautionary
statements identifying important factors that could cause actual
results to differ materially from those included in the
forward-looking statements. Aflac and Trupanion desire 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 financial 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 Trupanion equity by
Aflac, and future operations, strategies, financial results or
other developments. Furthermore, 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," "intends," "projects," "will," "assumes," "potential,"
"target," "outlook" or similar words as well as specific
projections of future results, generally qualify as
forward-looking. Aflac and Trupanion undertake no obligation to
update such forward-looking statements.
The companies caution readers that the following factors, in
addition to other factors mentioned by either company in its
respective SEC filings from time to time, could cause actual
results to differ materially from those contemplated by the
forward-looking statements:
- difficult conditions in global capital markets and the economy,
including inflation and the continued effects caused by
COVID-19
- defaults and credit downgrades of investments
- global fluctuations in interest rates and 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
- differing interpretations applied to investment valuations
- significant valuation judgments in determination of expected
credit losses recorded on the Company's investments
- decreases in the Company's financial strength or debt
ratings
- decline in creditworthiness of other financial
institutions
- concentration of the Company's investments in any particular
single-issuer or sector
- major public health issues, including COVID-19 and any
resulting or coincidental economic effects, on the Company's
business and financial results
- the Company's ability to attract and retain qualified sales
associates, brokers, employees, and distribution partners
- deviations in actual experience from pricing and reserving
assumptions
- ability to continue to develop and implement improvements in
information technology systems and on successful execution of
revenue growth and expense management initiatives
- interruption in telecommunication, information technology and
other operational systems, or a failure to maintain the security,
confidentiality or privacy of sensitive data residing on such
systems
- subsidiaries' ability to pay dividends to the Parent
Company
- inherent limitations to risk management policies and
procedures
- operational risks of third-party vendors
- tax rates applicable to the Company may change
- failure to comply 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 respond
to market trends
- catastrophic events, including, but not limited to, as a result
of climate change, epidemics, pandemics (such as COVID-19),
tornadoes, hurricanes, earthquakes, tsunamis, war or other military
action, terrorism or other acts of violence, and damage incidental
to such events
- ability to protect the Aflac brand and the Company's
reputation
- ability to effectively manage key executive succession
- changes in accounting standards
- level and outcome of litigation
- allegations or determinations of worker misclassification in
the United States
Aflac Incorporated
Analyst and investor contact - David A. Young, 706.596.3264;
800.235.2667 or dyoung@aflac.com
Media contact - Ines Gutzmer, 762.207.7601 or
igutzmer@aflac.com
Trupanion
Laura Bainbridge, Head of Corporate Communications, 206.607.1929
or laura.bainbridge@trupanion.com
AFLAC (NYSE:AFL)
Historical Stock Chart
Von Mär 2024 bis Apr 2024
AFLAC (NYSE:AFL)
Historical Stock Chart
Von Apr 2023 bis Apr 2024