Aflac boosts alliance with Japan Post, which will buy 7% stake in insurance giant

Aflac Inc. announced Wednesday it will boost its business alliance with Japan Post Holdings Co., Ltd., which will acquire about 7 percent of the Georgia-based insurance giant's stock.

Aflac (NYSE: AFL) said the deal renews the companies' commitment to the cancer insurance marketplace in Japan. Aflac Japan's revenues accounted for 70 percent of the company's total revenues in 2017 of $21.7 billion.

Columbus, Ga.-based Aflac pioneered the cancer insurance market in Japan in 1974, and remains the…

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