American Family Life Insurance Company (AFLIC)
American Family Life Insurance Company was incorporated in 1957. AFLIC is currently
licensed in 49 states and the District of Columbia and writes primarily whole life, term life, and fixed
universal life products. AFLIC markets its business through AFMICSI's agency force. As of December 31,
2021, the statutory audited financial statements for AFLIC reported total admitted assets of
$5,473,414,756, liabilities of $5,028,038,893 (both amounts include $392.7 million from separate
accounts), and surplus of $445,375,863. Operations for 2021 produced a net income of $39,581,179
million.
Bold Penguin, Inc. (Bold Penguin)
Bold Penguin is an Ohio-based technology company that aids in obtaining small business
insurance. The Bold Penguin digital exchange is used by insurance agents, brokers, and other
distributors to match, quote, and bind policies from a range of insurers to meet customer needs. Bold
Penguin was acquired by AFMIHC on February 16, 2021.
Agreements with Affiliates
Second Amended and Restated Intercompany Services and Cost Allocation Agreement
Effective July 1, 2020, AFMICSI and certain of its subsidiaries and affiliates entered into a
Second Amended and Restated Intercompany Services and Cost Allocation Agreement. Under this
agreement, AFMICSI may provide to the other parties and one or more of the other parties may provide
to AFMICSI goods, third party services, and management and other direct services, including executive,
corporate strategy, legal, corporate governance, product development, underwriting, marketing, customer
service, sales, policy administration, billing, claims, reserving, financial, treasury, investment, enterprise
risk, reinsurance, internal audit, and other services used by the parties in the conduct of their business
operations. The costs of services provided under this agreement are reimbursed based on the actual
costs of the services provided or on a pass-through basis for the services provided by third parties.
Settlement of all charges is done on a net basis and no less frequently than on a quarterly basis. This
agreement replaced an Amended and Restated Intercompany Services and Cost Allocation Agreement
between AFMICSI and certain of its affiliates that was effective January 1, 2017. Currently, all companies
included in this report are parties to this agreement.