Expense Ratio % is the percentage of expenses associated with acquiring, underwriting, and servicing premiums to net premium earned. It indicates the efficiency of the insurance company before considering its claims and investment gains or losses.
Aflac's Expense Ratio % for the quarter that ended in Mar. 2026 was 57.80%
, which is higher than
0.00% for the pervious quarter ended in Dec. 2025.
Aflac's Expense Ratio % for the annual that ended in Dec. 2025 was 58.80%
, which is higher than
57.60% for the pervious year ended in Dec. 2024.
The historical rank and industry rank for Aflac's Expense Ratio % or its related term are showing as below:
AFL's Expense Ratio % is not ranked *
in the Insurance industry.
Industry Median: * Ranked among companies with meaningful Expense Ratio % only.
Aflac (NYSE:AFL) Expense Ratio % Explanation
Expense Ratio % is the percentage of expenses associated with acquiring, underwriting, and servicing premiums to net premium earned. It can be used to make comparisons between insurance companies as well as measure their performance. An expense ratio below 100% suggests that the premiums an insurance company earned or wrote are more than the expenses it paid to support those premiums.
However, we should keep in mind that the ratio does not indicate an ending profitability. The overall profit is also influenced by the claims, investment gains or losses and other income. The ratio can be combined with Claims Ratio % and Combined Ratio % to get an overall performance of an insurance company.
Aflac Expense Ratio % Related Terms
Aflac Expense Ratio % Historical Data
* Premium members only.
The historical data trend for Aflac's Expense 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 Expense Ratio %, along with its competitors' market caps and Expense 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.
Expenses of Acquiring, Underwriting and Servicing Premiums
/
Net Premium Earned
*
100%
* 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 Expense Ratio % of 57.80% mean?
Aflac (AFL) has a Expense Ratio % of 57.80% as of Mar. 2026. Expense Ratio is the percentage of expenses associated with acquiring, underwriting, and servicing premiums to net premium earned. View historical data on Aflac and its competitors.
Is Aflac's Expense Ratio % too high?
Aflac's current Expense Ratio % is 57.80%. Overall, Aflac has a GF Score™ of 70/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Aflac's Expense Ratio % compare to MET and PRU?
Aflac's Expense Ratio % of 57.80% 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 Expense Ratio % for an Insurance company?
A good Expense Ratio % depends on the Insurance industry context. However, Expense 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 Expense Ratio % mean?
A high Expense Ratio % can signal that a stock is expensive relative to its fundamentals. Expense Ratio is the percentage of expenses associated with acquiring, underwriting, and servicing premiums to net premium earned. View historical data on Aflac and its competitors. Aflac's current Expense Ratio % is 57.80%. 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 $108.77, compared to a current price of $121.91 — trading 12.1% above its estimated fair value. The current Expense Ratio % is 57.80%. Aflac's overall GF Score™ is 70/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Expense Ratio % calculated?
Expense Ratio % is calculated from a company's financial statements. For Aflac (AFL), the current Expense Ratio % is 57.80% 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 $121.91 is trading 12.1% above its estimated GF Value™ of $108.77.
GuruFocus considers Aflac to be Modestly Overvalued.
Key valuation signals for AFL:
Expense Ratio %: 57.80%
GF Value™: $108.77 vs. price of $121.91 (12.1% 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.
70GF Score
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