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American Financial Group AFG Property and casualty insurance — Deferred policy acquisition costs

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Other financials

Income statement

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Revenue$1.9B-0.1%
Operating income$239.0M+21.3%
Net income$191.0M+24.0%
EPS (diluted)$2.29+24.5%

Balance sheet

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Cash & equivalents$1.4B+6.0%
Total debt$2.0B+19.3%
Total equity$4.7B+6.5%
Total assets$32.4B+6.8%

Cash flow

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Operating cash flow$474.0M+38.6%

Valuation

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Market cap$11.04B-3.6%
Enterprise value$11.72B-1.2%
P/E12.6×-1.8×
P/S1.4×0.0×

Profitability

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Operating margin13.6%+1.4pp
Net margin10.8%+1.1pp

Returns & leverage

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Return on equity19.4%+0.9pp
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:SupplementaryInsuranceInformationDeferredPolicyAcquisitionCosts.

The official record: American Financial Group’s 10-K, filed February 25, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is American Financial Group's property and casualty insurance — deferred policy acquisition costs?
American Financial Group (AFG) reported property and casualty insurance — deferred policy acquisition costs of $333M in Q4 2025.
How has American Financial Group's property and casualty insurance — deferred policy acquisition costs changed year-over-year?
American Financial Group's property and casualty insurance — deferred policy acquisition costs increased by 4.1% year-over-year, from $320M to $333M.
What does property and casualty insurance — deferred policy acquisition costs mean?
Capitalized costs incurred to acquire new insurance policies that are expensed over the life of the policy.
How do you interpret property and casualty insurance — deferred policy acquisition costs?
An increase suggests higher investment in new business acquisition, while a decrease may indicate reduced marketing or acquisition activity.
How does property and casualty insurance — deferred policy acquisition costs compare across companies?
Standard across P&C insurers as 'Deferred Policy Acquisition Costs' (DAC).