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American Financial Group AFG Property and casualty insurance — Claims, losses and settlement expenses

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Other financials

Income statement

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Revenue$2.0B+5.5%
Operating income$316.0M+38.0%
Net income$248.0M+42.5%
EPS (diluted)$2.99+44.4%

Balance sheet

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Cash & equivalents$1.4B+13.4%
Total debt$2.0B+19.3%
Total equity$4.8B+6.8%
Total assets$33.0B+7.7%

Cash flow

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Operating cash flow$92.0M-51.8%

Valuation

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Market cap$12.19B+14.3%
Enterprise value$12.78B+15.2%
P/E12.8×-1.2×
P/S1.5×+0.2×

Profitability

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Operating margin14.5%+2.8pp
Net margin11.5%+2.3pp

Returns & leverage

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Return on equity20.4%+3.2pp
Debt / equity0.4×0.0×

Where this comes from

Reported directly by American Financial Group in its filing.

Tagged under the XBRL concept us-gaap:SupplementaryInsuranceInformationBenefitsClaimsLossesAndSettlementExpense.

The source filing: American Financial Group’s 10-K, filed February 25, 2026.

Filed
Feb 25, 2026, 3:19 PM EST
Fiscal year
FY2025
Accession
0001042046-26-000010
SegmentDeferred policy acquisition costsReserves for claims and unpaid losses and LAEUnearned premiumsNet earned premiumsNet investment incomeClaims, losses and settlement expensesAmortization of deferred policy acquisition costsOther operating expensesNet written premiums
2025
Property and casualty insurance$333$15,094$3,736$7,046$725$4,388$775$1,333$7,110
Other20605
Total$333$15,094$3,736$7,046$745$4,388$775$1,938$7,110
2024
Property and casualty insurance$320$14,179$3,584$7,036$784$4,455$766$1,279$7,139
Other(4)5695
Total$320$14,179$3,584$7,036$780$4,460$766$1,974$7,139

Item 15. S-1

FAQ

What is American Financial Group's property and casualty insurance — claims, losses and settlement expenses?
American Financial Group (AFG) reported property and casualty insurance — claims, losses and settlement expenses of $1.1B in Q4 2025.
How has American Financial Group's property and casualty insurance — claims, losses and settlement expenses changed year-over-year?
American Financial Group's property and casualty insurance — claims, losses and settlement expenses decreased by 1.5% year-over-year, from $1.11B to $1.1B.
What is the long-term trend for American Financial Group's property and casualty insurance — claims, losses and settlement expenses?
Over 4 years (2021 to 2025), American Financial Group's property and casualty insurance — claims, losses and settlement expenses has grown at a 8.6% compound annual growth rate (CAGR), from $3.16B to $4.39B.
What does property and casualty insurance — claims, losses and settlement expenses mean?
This represents the total costs incurred from insurance claims, including both paid losses and changes in the estimated liability for future claim payments. It also includes the administrative costs associated with investigating, processing, and settling these claims. This is the largest expense category for an insurance company and a primary driver of underwriting profitability.

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