Aflac Incorporated Files Amendment to Shelf Registration, Continues Investment Portfolio Derisking

Aflac Incorporated AFL announced today that it has filed an amended shelf registration with the Japanese authorities to issue debt securities up to 100 billion yen. The original shelf registration was filed in November 2009. As part of the filing, the company provided an update on its investment portfolio derisking. During the second quarter of 2011, Aflac will recognize a pretax loss of $165 million on the sale of investments associated with banks and other financial institutions of Greece and Ireland, $72 million of which was previously disclosed. The company estimates it will recognize $445 million of pretax impairment losses on investments in Portugal banks.