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American Financial Group AFG Property and casualty insurance — Year 3

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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:ShortdurationInsuranceContractsHistoricalClaimsDurationYearThree.

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
Line itemAverage Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 1Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 2Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 3Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 4Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 5Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 6Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 7Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 8Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 9Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance(Supplementary Information and Unaudited) / Year 10
Annual15.0%19.5%15.2%12.3%9.4%6.9%4.9%3.8%1.9%1.5%
Cumulative15.0%34.5%49.7%62.0%71.4%78.3%83.2%87.0%88.9%90.4%

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

FAQ

What is American Financial Group's property and casualty insurance — year 3?
American Financial Group (AFG) reported property and casualty insurance — year 3 of 15.2% in Q4 2025.
How has American Financial Group's property and casualty insurance — year 3 changed year-over-year?
American Financial Group's property and casualty insurance — year 3 decreased by 1.3% year-over-year, from 15.4% to 15.2%.
What does property and casualty insurance — year 3 mean?
Represents the cumulative estimated loss and loss adjustment expenses for claims incurred three years prior to the current reporting period. This metric tracks the development of claims as they move through the settlement process, helping to identify potential trends in claim severity or frequency. It is used to validate the adequacy of reserves established in prior periods.

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