• Aflac average gross margin for 2023 was 49.83%, a 6.5% increase from 2022.
• Aflac average gross margin for 2022 was 46.79%, a 3.98% increase from 2021.
• Aflac average gross margin for 2021 was 45%, a 13.01% increase from 2020.

Gross margin can be defined as a company's total sales revenue minus its cost of goods sold, divided by the total sales revenue, expressed as a percentage.