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American Financial Group AFG Life policy reserves

Life policy reserves at other companies

American International Group logo
American International GroupAIG
$43M-4.4%
American International Group logo
American International GroupAIG
$161M
American International Group logo
American International GroupAIG
$43M+16.2%
Cincinnati Financial logo
Cincinnati FinancialCINF
$54M+3.8%
Cincinnati Financial logo
Cincinnati FinancialCINF
$1.1B+4.9%
Ameriprise Financial logo
Ameriprise FinancialAMP
$561M-6.3%

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:DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsPolicyholderLiabilities.

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 life policy reserves?
American Financial Group (AFG) reported life policy reserves of $300M in Q4 2025.
How has American Financial Group's life policy reserves changed year-over-year?
American Financial Group's life policy reserves increased by 6.0% year-over-year, from $283M to $300M.
What is the long-term trend for American Financial Group's life policy reserves?
Over 5 years (2020 to 2025), American Financial Group's life policy reserves has grown at a 4.6% compound annual growth rate (CAGR), from $240M to $300M.
What does life policy reserves mean?
Tax benefits arising from timing differences in how insurance policy expenses are reported.
How do you interpret life policy reserves?
Changes reflect shifts in the timing of tax deductions related to insurance reserves, impacting the company's deferred tax position.
How does life policy reserves compare across companies?
Standard for insurance companies; peers report similar deferred tax items related to actuarial reserve adjustments.