Aflac Incorporated's board of directors has authorized the purchase of up to 40 million shares of its common stock. This authorization is in addition to the 16.0 million shares that remained under a previous authorization as of June 30, 2015, bringing the total number of shares available for purchase to approximately 56.0 million. The company anticipates that the repurchase of shares will be conducted from time to time in open market or negotiated transactions, depending on market conditions.

Commenting on the news, Chairman and Chief Executive Officer Daniel P. Amos stated: "I am very pleased with this action by our board of directors. Whether we're talking about our operations in Japan or the U.S., as an insurance company, our primary mission is to fulfill our obligations to our policyholders. At the same time, we are listening to our shareholders and understand the importance of capital deployment. In our second quarter of 2015 earnings release, we reinforced our plan to repurchase $1.3 billion of our common stock in 2015 and believe that over the next few years, we'll be able to increase the capital available for deployment."