Zurich North America U.S. Corporate Life and Pensions business
2020
Why
Added U.S. group life, disability, and absence-management capabilities. Aflac said total consideration, including supporting capital, was less than $200 million.
Aflac Incorporated
Supplemental InsuranceFounded 1955- HQ today: Columbus, Georgia
Reviewed by Swet Parvadiya
Company data updated: September 2026
Acquisitions
Aflac Acquisitions
3
Major Deals Covered
$100M
Disclosed Deal Value
What are Aflac's biggest acquisitions?
Aflac's largest disclosed acquisition here is Continental American Insurance Company for $100M in 2009. This page covers 3 major deals from 2009 to 2020, each with its price where disclosed and the reason behind it.
- Major deals covered
- 3
- Largest deal
- Continental American Insurance Company ($100M)
- First deal
- 2009
- Most recent
- 2020
| Company | Year | Price | Purpose |
|---|---|---|---|
| Continental American Insurance Company | 2009 | $100.0M | Added group supplemental insurance and expanded Aflac's access to broker-distributed U.S. worksite business. |
| Argus Holdings, LLC | 2019 | Undisclosed | Added a national network dental and vision platform and benefits-administration capabilities in the United States. Terms were not disclosed in the completion release. |
| Zurich North America U.S. Corporate Life and Pensions business | 2020 | Undisclosed | Added U.S. group life, disability, and absence-management capabilities. Aflac said total consideration, including supporting capital, was less than $200 million. |
- What companies has Aflac bought?
- Major acquisitions by Aflac documented here include Continental American Insurance Company (2009), Zurich North America U.S. Corporate Life and Pensions business (2020) and Argus Holdings, LLC (2019).
- What is Aflac's most recent acquisition?
- The most recent Aflac acquisition documented here is Zurich North America U.S. Corporate Life and Pensions business, in 2020.
Argus Holdings, LLC
2019
Why
Added a national network dental and vision platform and benefits-administration capabilities in the United States. Terms were not disclosed in the completion release.
Continental American Insurance Company
2009
$100M
Why
Added group supplemental insurance and expanded Aflac's access to broker-distributed U.S. worksite business.
Aflac Incorporated's Growth & Acquisition Strategy
In the United States, Aflac has added network dental and vision plus group life, disability, and absence-management capabilities through acquisitions. In Japan, it continues to develop cancer, medical, and life products and distribute them through agencies and partners.
How Aflac Incorporated Makes Money
Aflac earns premiums from supplemental health and life insurance policies and investment income from assets held to support policy obligations. Aflac Japan sells cancer, medical, nursing care, and life products through agencies and distribution partners. Aflac U.S. sells voluntary and employer-paid supplemental health, group life and disability, dental, and vision products, primarily through workplaces and brokers.
Aflac Acquisitions FAQ
What did Aflac pay for Continental American?
Aflac completed the acquisition of Continental American Insurance Company for $100 million in 2009.
Why did Aflac acquire Argus Holdings?
The 2019 acquisition added a national network dental and vision platform and benefits-administration capabilities.
What did Aflac acquire from Zurich North America?
In 2020, Aflac acquired Zurich North America's U.S. Corporate Life and Pensions business, including assets and employees supporting group life, disability, and absence management.
What companies has Aflac acquired?
Aflac has made targeted acquisitions, like buying Argus, to aggressively expand into network dental and vision insurance.
Related M&A Histories
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