COLUMBUS, Ga., Jan. 29, 2018 /PRNewswire/ -- Aflac Incorporated
(NYSE: AFL) announced today that it has expanded its relationship
with NXT Capital to include management of a portfolio of commercial
real estate mortgage loans. Aflac Global Investments, the asset
management subsidiary of Aflac Incorporated, has committed to fund
a portfolio of up to $2.0 billion of
floating-rate, first mortgage loans for institutional quality,
middle market commercial properties throughout the U.S. on behalf
of Aflac's general account, including purchasing approximately
$1.1 billion of these loans from
NXT.
Aflac has also increased its minority equity investment in NXT
by approximately $75 million to
strengthen a partnership that began nearly a year ago with an
agreement to manage a portfolio of middle market corporate loans.
Today's announcement reinforces Aflac's and NXT's mutual commitment
to cultivating a long-term relationship and the enduring benefits
of partnering together in two important private market asset
classes.
Aflac Executive Vice President and Global Chief Investment
Officer Eric M. Kirsch commented:
"We are pleased to expand our relationship with NXT Capital
following the success of our middle market lending program of last
year. With this new agreement, NXT will play a key role in managing
two floating-rate asset classes that are strategically important to
Aflac and our hedged U.S. dollar program for Aflac Japan."
Executive Vice President and Chief Financial Officer of Aflac
Incorporated Frederick J. Crawford
added: "Expanding the NXT partnership further solidifies the
actions of the global investment platform to find assets generating
attractive risk-adjusted net investment income. NXT has proven to
be an excellent strategic partner, and we are excited to strengthen
our relationship with a leader across both the corporate and real
estate middle market lending markets."
"NXT Capital is very pleased to further expand our strategic
partnership with Aflac which, in addition to middle-market
corporate loans, will now include access to our well-established
commercial real estate lending platform," said Robert Radway, NXT Capital's Chairman and CEO.
"We appreciate Aflac's recognition of NXT's expertise as an asset
manager, our proven, broad-based direct origination capability and
rigorous underwriting process for proprietary middle market
corporate and commercial real estate loans."
About Aflac
When a policyholder gets sick or hurt,
Aflac pays cash benefits fast. For more than six decades, Aflac
insurance policies have given policyholders the opportunity to
focus on recovery, not financial stress. In the United States, Aflac is the leader in
voluntary insurance sales at the worksite. Through its trailblazing
One Day PaySM initiative, Aflac U.S. can receive,
process, approve and disburse payment for eligible claims in one
business day. In Japan, Aflac is
the leading provider of medical and cancer insurance and insures 1
in 4 households. Aflac insurance products help provide protection
to more than 50 million people worldwide. For 11 consecutive years,
Aflac has been recognized by Ethisphere as one of the World's Most
Ethical Companies. In 2017, Fortune magazine recognized Aflac as
one of the 100 Best Companies to Work for in America for the 19th
consecutive year and in 2018 included Aflac on its list of Most
Admired Companies for the 17th time. Aflac Incorporated is a
Fortune 500 company listed on the New York Stock Exchange under the
symbol AFL. To find out more about Aflac and One Day
PaySM, visit aflac.com or aflac.com/espanol.
About Aflac Global Investments
Aflac Global
Investments is the asset management division of Aflac Incorporated,
with offices in New York and
Tokyo and more than 100
professionals managing in excess of $110
billion on behalf of the general account of Aflac Japan and
Aflac U.S.
About NXT Capital
NXT Capital is a leading provider of
structured financing to the U.S. middle market. Since its
formation in 2010, the company has originated over $18 billion in total financing volume spread over
600+ transactions. With approximately $11.4 billion of committed capital
at its disposal, NXT provides a full range of
structured financing solutions on a direct basis through its
Corporate Finance and Real Estate Finance groups. NXT manages
capital for third parties through its asset management
platform and offers investors proprietary access to primarily
first lien senior secured loans that are not broadly traded or
otherwise generally available without a loan origination platform.
Investment offerings include levered and unlevered funds,
separately managed accounts and CLOs. NXT's investor base
includes public and private pension plans, insurance companies,
endowments, foundations and other institutional investors. NXT
Capital Investment Advisers, LLC, a subsidiary of NXT Capital LLC,
is registered with the SEC as an Investment Adviser.
Analyst and investor contact – David A.
Young, 706.596.3264 or 800.235.2667;
FAX: 706.324.6330 or dyoung@aflac.com
Media contact – Catherine H.
Blades, 706.596.3014; FAX: 706.320.2288 or
cblades@aflac.com
Forward-looking Information
The Private Securities
Litigation Reform Act of 1995 provides a "safe harbor" to encourage
companies to provide prospective information, so long as those
informational statements are identified as forward-looking and are
accompanied by meaningful cautionary statements identifying
important factors that could cause actual results to differ
materially from those included in the forward-looking statements.
The company desires to take advantage of these provisions. This
report contains cautionary statements identifying important factors
that could cause actual results to differ materially from those
projected herein, and in any other statements made by company
officials in communications with the financial community and
contained in documents filed with the Securities and Exchange
Commission (SEC). Forward-looking statements are not based on
historical information and relate to future operations, strategies,
financial results or other developments. Furthermore,
forward-looking information is subject to numerous assumptions,
risks and uncertainties. In particular, statements containing words
such as "expect," "anticipate," "believe," "goal," "objective,"
"may," "should," "estimate," "intends," "projects," "will,"
"assumes," "potential," "target", "outlook" or similar words as
well as specific projections of future results, generally qualify
as forward-looking. Aflac undertakes no obligation to update such
forward-looking statements.
The company cautions readers that the following factors, in
addition to other factors mentioned from time to time, could cause
actual results to differ materially from those contemplated by the
forward-looking statements: difficult conditions in global capital
markets and the economy; exposure to significant interest rate
risk; concentration of business in Japan; foreign currency fluctuations in the
yen/dollar exchange rate; failure to execute or implement the
conversion of the Japan branch to
a legal subsidiary; limited availability of acceptable
yen-denominated investments; deviations in actual experience from
pricing and reserving assumptions; ability to continue to develop
and implement improvements in information technology systems;
governmental actions for the purpose of stabilizing the financial
markets; interruption in telecommunication, information technology
and other operational systems, or a failure to maintain the
security, confidentiality or privacy of sensitive data residing on
such systems; ongoing changes in the Company's industry; failure to
comply with restrictions on patient privacy and information
security; extensive regulation and changes in law or regulation by
governmental authorities; defaults and credit downgrades of
investments; ability to attract and retain qualified sales
associates and employees; decline in creditworthiness of other
financial institutions; subsidiaries' ability to pay dividends to
Aflac Incorporated; decreases in the Company's financial strength
or debt ratings; inherent limitations to risk management policies
and procedures; concentration of the Company's investments in any
particular single-issuer or sector; differing judgments applied to
investment valuations; ability to effectively manage key executive
succession; significant valuation judgments in determination of
amount of impairments taken on the Company's investments;
catastrophic events including, but not necessarily limited to,
epidemics, pandemics, tornadoes, hurricanes, earthquakes, tsunamis,
war or other military action, terrorism or other acts of violence,
and damage incidental to such events; changes in U.S. and/or
Japanese accounting standards; loss of consumer trust resulting
from events external to the Company's operations; increased
expenses and reduced profitability resulting from changes in
assumptions for pension and other postretirement benefit plans;
level and outcome of litigation; and failure of internal controls
or corporate governance policies and procedures.
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SOURCE Aflac Incorporated