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Combined Ratio % is a profitability metric of an insurance company to measure its performance in daily operations. It measures the money flowing out of an insurance company in the form of dividends, expenses, and losses.
The historical rank and industry rank for Aflac's Combined Ratio % or its related term are showing as below:
AFL's Combined Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Combined Ratio % only.
Aflac (NYSE:AFL) Combined Ratio % Explanation
Combined Ratio % measures the money flowing out of an insurance company in the form of dividends, expenses and losses. A ratio below 100 percent suggests that the company is making an underwriting profit, while a ratio above 100 percent means that it paid more in the claim than it received. However, a ratio above 100 percent does not necessarily mean the company is losing money because the investment income is not included in the calculation.
Compared to Claims Ratio % and Expense Ratio %, the combined ratio is most important because it provides a comprehensive measure of an insurer's profitability.
Aflac Combined Ratio % Related Terms
Aflac Combined Ratio % Historical Data
* Premium members only.
The historical data trend for Aflac's Combined Ratio % can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Insurance - Life subindustry, Aflac's Combined Ratio %, along with its competitors' market caps and Combined Ratio % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Frequently Asked Questions
What does a Combined Ratio % of 0.00% mean?
Aflac (AFL) has a Combined Ratio % of 0.00% as of Mar. 2026. Combined Ratio measures the money flowing out of an insurance company in the form of dividends, expenses, and losses. View historical data on Aflac and its competitors.
Is Aflac's Combined Ratio % too high?
Aflac's current Combined Ratio % is 0.00%. Overall, Aflac has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aflac's Combined Ratio % compare to MET and PRU?
Aflac's Combined Ratio % of 0.00% can be compared against companies in the Insurance industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Combined Ratio % for an Insurance company?
A good Combined Ratio % depends on the Insurance industry context. However, Combined Ratio % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Combined Ratio % mean?
A high Combined Ratio % can signal that a stock is expensive relative to its fundamentals. Combined Ratio measures the money flowing out of an insurance company in the form of dividends, expenses, and losses. View historical data on Aflac and its competitors. Aflac's current Combined Ratio % is 0.00%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Aflac stock overvalued right now?
Based on GuruFocus' analysis, Aflac (AFL) is currently considered Modestly Overvalued. The stock's GF Value™ is $108.30, compared to a current price of $129.01 — trading 19.1% above its estimated fair value. The current Combined Ratio % is 0.00%. Aflac's overall GF Score™ is 69/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Combined Ratio % calculated?
Combined Ratio % is calculated from a company's financial statements. For Aflac (AFL), the current Combined Ratio % is 0.00% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Aflac (AFL) Overvalued in 2026?
Based on GuruFocus' analysis, Aflac stock appears to be overvalued.
The current stock price of $129.01 is trading 19.1% above its estimated GF Value™ of $108.30.
GuruFocus considers Aflac to be Modestly Overvalued.
Key valuation signals for AFL:
Combined Ratio %: 0.00%
GF Value™: $108.30 vs. price of $129.01 (19.1% above fair value)
No single metric tells the full story. See the AFL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Aflac Inc offers supplemental health insurance and life insurance in the United States and Japan. In addition to its cancer policies, the company has broadened its product offerings to include accident, dental and vision, disability, and long-term-care insurance. It markets its products through independent distributors, selling the majority of its policies directly to consumers at their places of work, and also reaches out to its customers outside of their worksite through digital mediums. The company has two reportable business segments: Aflac Japan, which generates the maximum revenue, and Aflac U.S.
69GF Score
Get the complete analysis for AFL
Combined Ratio % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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