REINSURANCE (Tables)

3 Months Ended

Mar. 31, 2024

Reinsurance Disclosures [Abstract]

Effects of Reinsurance

The following table reconciles direct earned premiums, direct benefits and claims, excluding reserve remeasurement gains and losses, and reserve remeasurement gains and losses to net amounts after the effect of reinsurance.

	Three Months Ended March 31,
(In millions)	2024		2023
Direct earned premiums	$	3,482		$	3,738
Ceded to other companies:
Ceded Aflac Japan closed blocks	(34)			(82)
Other	(35)			(25)
Assumed from other companies:
Retrocession activities	29			34
Other	14			23
Net earned premiums	$	3,456		$	3,688
Direct benefits and claims, excluding reserve remeasurement	$	2,082		$	2,256
Ceded benefits and change in reserves for future benefits:
Ceded Aflac Japan closed blocks	(18)			(77)
Other	(15)			(27)
Assumed from other companies:
Retrocession activities	13			41
Other	4			10
Benefits and claims, excluding reserve remeasurement	$	2,066		$	2,203
Direct reserve remeasurement (gains) losses	$	(57)		$	(53)
Ceded reserve remeasurement gains (losses)	1			0
Assumed reserve remeasurement (gains) losses	0			0
Reserve remeasurement (gains) losses	$	(56)		$	(53)
Total benefits and claims, net	$	2,010		$	2,150