SUBSEQUENT EVENTS SUBSEQUENT EVENTS

3 Months Ended

Mar. 31, 2013

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS

In April 2013, the Company sold and entered into an agreement to sell the below-investment grade investments in CSAV (Tollo Shipping Co. S.A.) and Bankia SA (Bancaja Emisiones SA Unipersonal), respectively. CSAV and Bankia SA had amortized costs of $107 million and $59 million at March 31, 2013, respectively. Both of these securities had been previously impaired. The Company will recognize total gains of $64 million on the sale of these securities.

Subsequent to March 2013, the Company entered into additional foreign currency options and forwards to hedge foreign exchange risk for a portion of expected profit repatriation in yen from Aflac Japan scheduled to occur in July 2013. These derivatives mitigate the Company's exposure to further weakening of the yen relative to the U.S. dollar by establishing minimum levels of U.S. dollars that will be received upon the currency exchange. With these additional contracts, the cumulative total of expected profit repatriation covered under hedge contracts is 50 billion yen.