Aflac Incorporated announced today that it has hiredEric M. Kirschto lead its global investment management function as a member of its executive management team. Kirsch will join Aflac onNovember 1, 2011as first senior vice president; global chief investment officer and will be responsible for management of Aflac's$93 billioninvestment portfolio and its team of more than 50 investment professionals. Kirsch will coordinate the company's investment efforts through a newly establishedManhattan-based office. However, the company will continue to maintain the vast majority of its investment resources inColumbus, GeorgiaandTokyo, Japan. Current Chief Investment OfficerW. Jeremy"Jerry" Jeffery will serve as senior vice president, Fixed Income Investments.

Kirsch brings extensive strategic investment experience to Aflac. He most recently served as managing director and global head of insurance asset management, including portfolio management, insurance advisory services and distribution at Goldman Sachs Asset Management (GSAM). Kirsch was recruited by GSAM to create a dedicated global insurance business. In that capacity, he managed a global team of over 55 professionals and was instrumental in elevating GSAM's reputation as a top insurance asset manager. Prior to joining Goldman Sachs, he spent 27 combined years at Deutsche Asset Management (DeAM) and Bankers Trust Company, most recently serving as managing director and global head of insurance asset management. At DeAM, Kirsch was responsible for a staff of over 100 people including teams inNorth America,EuropeandAsiaand oversaw total insurance assets of more than$150 billionwhile a member of the Global Operating Committee of DeAM. Prior to this, Kirsch served as managing director and head of North America Fixed Income, responsible for more than$150 billionof assets across institutional and retail clients and multiple fixed income investment strategies. He also previously served as vice president and stable value portfolio manager at Bankers Trust Company. Kirsch received a bachelor of business administration in business and finance fromBaruch Collegein 1984, and a master's of business administration fromPace Universityin 1988. He earned his CFA designation in 1990.

Commenting on his new position at Aflac, Kirsch said: "I am excited about the opportunity to lead Aflac's investment team and to build on the company's strong foundation of prudent asset and liability management. Clearly, income-oriented investors face challenges in the current interest rate environment and Aflac has significant cash flows to invest. However, I believe that we can maintain a favorable risk profile to the portfolio, while improving returns by exploring new, yet appropriate asset classes. We also anticipate as part of a strategic review engaging external asset management firms to provide investment management services for up to 10% of our portfolio as a means of diversifying risk and enhancing our intellectual capital. My objective is for Aflac to be recognized as a world-class investment organization that pays particular attention to the needs of the insurance operation through effective ALM and capital adequacy and also to the expectations of shareholders through investment income growth."

Aflac Chairman and Chief Executive OfficerDaniel P. Amosadded, "After an extensive search, I am very pleased to announce that Eric has accepted the opportunity to manage our global investment area. We remain proud of our long-term investment track record and the strength of our balance sheet. But the world has changed dramatically since the emergence of the financial crisis. There is no doubt that investing is a much more complex activity than it was just a few years ago. As such, it's critically important that we continue to invest in our global investment department and enhance our capabilities. And I believe that investment begins with people. Eric brings extensive investment experience to our company and more importantly, he brings a track record of vision and success. I'm very excited to be working with Eric and I look forward to his contributions to the investment function and to the continued success of our company."