Aflac 2009 Annual Report Download - page 9

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00 01 02 03 04 05 06 07 08 09
79.3
37.2 37.9
45.1
51.0
59.3 56.4
59.8
65.8
Japan U.S.
$84.1
Total Assets
(In billions)
Total assets surpassed
$84 billion in 2009 despite
a weaker yen/dollar
exchange rate at the
end of the year.
appropriate for the current economy.
We continued to recruit and train new
sales associates to expand our reach
in the market. We also enhanced our
product portfolio and distribution
through a strategic acquisition.
After spending a signicant amount of
time on market research, we acquired
Continental American Insurance
Company based in Columbia, South
Carolina, in 2009. We were specically
looking for the capability to expand
our product line to offer voluntary
insurance products on a group basis
that would complement the individually
underwritten products we’ve traditionally
offered. With Continental American, now
branded as Aac Group Insurance, we
have found the right t. We believe we
can leverage this new platform of group
products in the insurance broker market,
as well as with our existing sales force
to better penetrate the large payroll
account market.
I remain as excited as ever about the
future of Aac. I am also convinced
that the United States is a tremendous
and underpenetrated market for our
products, with literally tens of millions
of consumers who can benet from our
affordable insurance protection. Like
last year, we will remain cautious on
the outlook for new sales in the United
States until we see some stability
in the economy. But we continue to
believe we are well positioned within
our segment of the U.S. insurance
market to take advantage of the many
opportunities we see when economic
pressures subside.
Aac: Standing Strong,
Not Standing Still
In the brightest and bleakest of
economic times throughout our 55
years of operation, our focus on offering
relevant products through an extensive
sales force network has remained
constant. What has changed – and
actually strengthened over time – is
our resolve to leverage our competitive
strengths, while delivering on our
promise to help protect policyholders’
nancial health when they need
us most. I believe it’s that resolute
approach and discipline that creates
value for you, our shareholders.
As we think about 2010 and beyond,
we realize we will likely face a landscape
of challenges. But we continue to
believe that Aac will stand strong. And
I can promise you, we won’t stand still.
We are moved by the determination of
hundreds of thousands of dedicated
sales agents and employees, and
motivated by the one and only
Aac Duck to continue to spread
our message to new and existing
customers. This team has helped
secure a place under the Aac Duck’s
wing for 50 million people worldwide
who rely on us when they need help.
Some simply enjoy the peace of mind
knowing they have the protection Aac
can offer. Whatever the reason, with the
help of the Aac Duck, our wings offer
plenty of protection, and a special spot
for you and everyone with whom we
do business.
Daniel P. Amos
Chairman and
Chief Executive Ofcer
Aflac Annual Report for 2009 5