Aflac Incorporated (AFL) Q1 2023 Earnings Call Transcript

Aflac Incorporated (NYSE:AFL) Q1 2023 Earnings Conference Call April 27, 2023 8:00 AM ET

Company Participants

David Young - Vice President of Investor and Ratings Agency Relations and ESG

Dan Amos - Chairman and Chief Executive Officer

Fred Crawford - President and Chief Operating Officer

Brad Dyslin - Global Chief Investment Officer, President of Aflac Global Investments

Masatoshi Koide - President and Representative Director

Koichiro Yoshizumi - Executive Vice President and Director of Sales and Marketing and Alliance Strategy

Max Broden - Executive Vice President and Chief Financial Officer

Virgil Miller - President, Aflac U.S.

Todd Daniels - Director and Chief Financial Officer, Aflac Life Insurance Japan

Conference Call Participants

Wes Carmichael - Wells Fargo

Suneet Kamath - Jefferies

Jimmy Bhullar - JPMorgan Securities

Alex Scott - Goldman Sachs

John Barnidge - Piper Sandler

Erik Bass - Autonomous Research

Tom Gallagher - Evercore ISI

Wilma Burdis - Raymond James

Ryan Krueger - KBW

Michael Ward - Citi

Operator

Good morning, and welcome to the Aflac Incorporated First Quarter 2023 Earnings Conference Call. All participants will be in listen0only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to David Young, Vice President of Investor and Ratings Agency Relations and ESG. Please go ahead.

David Young

Thank you, Andrea. Good morning and welcome. This morning, we will be hearing remarks about the quarter related to our operations in Japan and the United States from Dan Amos, Chairman and CEO of Aflac Incorporated; Fred Crawford, President and COO of Aflac Incorporated is joining us from Japan and will touch briefly on conditions in the quarter and discuss key initiatives; and Brad Dyslin, Global Chief Investment Officer, President of Aflac Global Investments will discuss the investment portfolio and its positioning given recent market events and volatility.

Yesterday after the close, we posted our earnings release and financial supplement to investors.aflac.com. Under financials and the menu of that site, we also posted several slides of investment details related to our bank, commercial real estate and middle market loan exposure. In addition, Max Broden, Executive Vice President and CFO of Aflac Incorporated, provided his quarterly video update addressing our financial results and current capital and liquidity. Max will be joining us for the Q&A segment of this call along with the following members of our Executive Management in the U.S.