Aflac Incorporated opened a new office in South Portland, Maine, to serve as the administrative hub for the state’s Paid Family and Medical Leave (PFML) program, which began issuing benefits on May 1, 2026. The facility will handle claims for more than 500,000 eligible workers and for public and private employers participating in the program.
The Maine PFML program provides up to 12 weeks of partially paid leave for a range of reasons—including serious health conditions, bonding with a new child, caring for a family member, military exigencies, and safe leave. Employers may opt into the state‑run program, which Aflac administers, or choose a private plan. Eligibility requires a minimum earnings threshold, and benefits are calculated as a percentage of the worker’s average weekly wage, subject to a maximum cap.
Aflac’s selection as the program’s administrator marks a strategic expansion of its group‑benefits administration services. The contract gives the company access to a large, statewide workforce and strengthens relationships with employers, creating cross‑selling opportunities for Aflac’s supplemental insurance products. The new office also signals the company’s commitment to Maine and to the broader U.S. market for paid family and medical leave services.
In its Q1 2026 earnings release, Aflac reported total revenues of $4.3 billion, up 27.9% from $3.4 billion in Q1 2025, and net earnings of $1.0 billion, a dramatic increase from $29 million in the prior year. Adjusted earnings were $901 million, a slight decline of 0.6% from $906 million in Q1 2025, while adjusted earnings per diluted share rose 5.4% to $1.75. The company’s adjusted EPS of $1.75 missed the Zacks Consensus Estimate of $1.78 by $0.03, and adjusted revenues of $4.2 billion fell 2.1% short of consensus.
"Aflac delivered solid earnings for the quarter. These results reflect our focused execution of our strategy and thus creating long‑term value for shareholders," said Chairman and CEO Daniel P. Amos. Amos also highlighted product initiatives, noting that the company has attracted new business through successful launches in Japan and the U.S., including medical, cancer, and life insurance products, as well as group voluntary benefits, network dental and vision, and group life and disability in the U.S.
Investors noted the miss in EPS and revenue, citing lower net investment income and unfavorable exchange rates as headwinds. The company’s strong revenue growth was offset by a slight decline in adjusted earnings, reflecting a mix shift and modest investment income shortfall.
The opening of the South Portland office and the administration of Maine’s PFML program underscore Aflac’s broader strategy to expand its presence in the U.S. supplemental insurance market and to deepen its group‑benefits administration capabilities, positioning the company for continued growth in a rapidly evolving benefits landscape.
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