Moody’s affirms Aflac at A3

Moody's Investors Service said it affirmed the senior debt rating of Aflac, Inc. at A3 and the insurance financial strength (rating of its primary operating subsidiary, American Family Life Assurance Co. of Columbus, at Aa3.

All ratings continue to have stable outlooks.

"Aflac's A3 senior debt rating and stable outlook reflect the company's very strong franchise and market position in supplemental health insurance in both Japan and the U.S., well-established niche distribution channels, and strong and predictable earnings capacity," Moody's assistant vice president Shachar Gonen said in a news release.

The agency added that Aflac's expanding and exclusive affiliation with Japan Post will further solidify its leading market position in cancer insurance. In October, Aflac is expected to start expanding from its current arrangement with 3,000 post offices to 10,000 locations, and ultimately reach 20,000 postal outlets by the first quarter of 2016.

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