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American Financial Group AFG Deferred acquisition costs

Deferred acquisition costs at other companies

The Travelers Companies logo
The Travelers CompaniesTRV
$3.52B+0.7%
American International Group logo
American International GroupAIG
$2.11B+2.0%

Segments

By segment

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Property and casualty insurance$333M+4.1%

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:SupplementaryInsuranceInformationDeferredPolicyAcquisitionCosts.

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 deferred acquisition costs?
American Financial Group (AFG) reported deferred acquisition costs of $333M in Q4 2025.
How has American Financial Group's deferred acquisition costs changed year-over-year?
American Financial Group's deferred acquisition costs increased by 4.1% year-over-year, from $320M to $333M.
What is the long-term trend for American Financial Group's deferred acquisition costs?
Over 5 years (2020 to 2025), American Financial Group's deferred acquisition costs has grown at a 6.4% compound annual growth rate (CAGR), from $244M to $333M.
What does deferred acquisition costs mean?
Deferred acquisition costs (DAC) are the incremental costs directly related to the successful acquisition of new or renewal insurance contracts that are capitalized and amortized over the life of the policy. This reflects the investment made to generate future premium revenue. It is a key indicator of growth and marketing efficiency.

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