Exhibit

Aflac Incorporated 2019 Form 10-K

EXHIBIT 21

Aflac Incorporated

SUBSIDIARIES

The following list sets forth the subsidiaries of Aflac Incorporated:



Company	Jurisdiction
American Family Life Assurance Company of Columbus (Aflac)	Nebraska
American Family Life Assurance Company of New York⁽¹⁾	New York
Aflac Asset Management LLC	Delaware
Aflac Asset Management Japan Ltd.⁽²⁾	Japan
Aflac International, Inc.	Georgia
Aflac Information Technology, Inc.	Georgia
Simple Technology, LLC⁽³⁾	Delaware
Aflac Corporate Ventures LLC	Delaware
Empoweredbenefits, LLC⁽⁴⁾	North Carolina
Aflac Ventures Labs LLC⁽⁴⁾	Delaware
Aflac Ventures Seed Fund LLC⁽⁴⁾	Delaware
Aflac InfoSec Services LLC⁽⁴⁾	Delaware
Empowered.Insure LLC⁽⁴⁾	North Carolina
Aflac Innovation Partners G.K.⁽⁴⁾	Japan
Aflac Ventures LLC⁽⁴⁾	Delaware
Lapetus Solutions, Inc.⁽⁵⁾	Delaware
Picwell, Inc.⁽⁵⁾	Delaware
Wellthie, Inc.⁽⁵⁾	Delaware
Medical Note, Inc.⁽⁵⁾	Japan
Sensely Corporation⁽⁵⁾	California
Aflac Benefits Advisors, Inc.	Georgia
Communicorp, Inc.	Georgia
Continental American Insurance Company	Nebraska
Continental American Group, LLC⁽⁶⁾	Georgia
Aflac Holdings LLC	Nebraska
Aflac Life Insurance Japan Ltd.⁽⁷⁾	Japan
Octagon Delaware Trust⁽⁸⁾	Delaware
Apollo AF Loan Trust⁽⁸⁾	Delaware
Global Investment Fund I⁽⁸⁾	Delaware
Tsusan Co., Ltd.⁽⁸⁾	Japan
Aflac Insurance Services Co., Ltd.⁽⁸⁾	Japan
Aflac Payment Services Co., Ltd.⁽⁸⁾	Japan
Aflac Heartful Services Co., Ltd.⁽⁹⁾	Japan
Global Alternatives Private Equity Sub-Trust A⁽¹⁰⁾	Cayman Islands
Tier One Insurance Company	Nebraska
Aflac Northern Ireland, Ltd.	Northern Ireland, U.K.
Argus Holdings, LLC	Florida
Argus Dental & Vision, Inc.⁽¹¹⁾	Florida

⁽¹⁾Subsidiary of Aflac

⁽²⁾Subsidiary of Aflac Asset Management LLC

⁽³⁾Subsidiary of Aflac Information Technology, Inc.

⁽⁴⁾Subsidiary of Aflac Corporate Ventures LLC

⁽⁵⁾Investment of Aflac Ventures LLC

⁽⁶⁾Subsidiary of Continental American Insurance Company

⁽⁷⁾Subsidiary of Aflac Holdings LLC

⁽⁸⁾Subsidiary of Aflac Life Insurance Japan Ltd.

⁽⁹⁾80% owned by Aflac Life Insurance Japan Ltd.

10% owned by Aflac Insurance Services Co., Ltd., and

10% owned by Aflac Payment Services Co., Ltd.

⁽¹⁰⁾90% owned by Aflac Life Insurance Japan Ltd. and

10% owned by Aflac

⁽¹¹⁾Subsidiary of Argus Holdings, LLC