Deferred policy acquisition costs
Markel Deferred policy acquisition costs decreased by 5.7% to $857.25M in Q1 2026 compared to the prior quarter. Year-over-year, this metric declined by 10.8%, from $960.67M to $857.25M. Over 5 years (FY 2020 to FY 2025), Deferred policy acquisition costs shows an upward trend with a 7.6% CAGR.
Analysis
How to read this metric
An increase suggests high growth in new business, while a decrease may indicate slowing sales or higher amortization rates.
Detailed definition
These are the incremental costs directly related to acquiring new insurance policies, such as commissions, which are cap...
Peer comparison
Standard accounting practice for insurance companies under GAAP.
ins_deferred_policy_acquisition_costsHistorical Data
| Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $766.74M | $772.13M | $794.15M | $899.36M | $954.52M | $946.06M | $925.48M | $994.37M | $1.01B | $985.95M | $931.34M | $961.82M | $1.00B | $967.67M | $875.71M | $960.67M | $975.40M | $984.40M | $909.52M | $857.25M |
| QoQ Change | — | +0.7% | +2.9% | +13.2% | +6.1% | -0.9% | -2.2% | +7.4% | +1.9% | -2.7% | -5.5% | +3.3% | +4.1% | -3.4% | -9.5% | +9.7% | +1.5% | +0.9% | -7.6% | -5.7% |
| YoY Change | — | — | — | — | +24.5% | +22.5% | +16.5% | +10.6% | +6.2% | +4.2% | +0.6% | -3.3% | -1.2% | -1.9% | -6.0% | -0.1% | -2.6% | +1.7% | +3.9% | -10.8% |
Business Segments
| Segment | Q4 '21 | Q4 '22 | Q4 '23 | Q4 '24 | Q4 '25 |
|---|---|---|---|---|---|
| Markel Insurance | — | — | — | — | $908.50M |
| Financial | — | — | — | — | $1.02M |
| Insurance | $574.18M | $677.92M | $708.13M | $648.97M | — |
| Market CATCo Re | — | $0.00 | — | — | — |
| Program services and other fronting | — | $0.00 | — | — | — |
| Reinsurance | $219.96M | $247.56M | $223.22M | $226.74M | — |
| Total | $794.15M | $925.48M | $931.34M | $875.71M | $909.52M |
Fronting, Insurance, Market CATCo Re, Program services and other fronting, Reinsurance were previously reported and have since been discontinued or reclassified. Only currently active segments are shown in the chart.
Deferred policy acquisition costs at Other Companies
Frequently Asked Questions
- What is Markel's deferred policy acquisition costs?
- Markel (MKL) reported deferred policy acquisition costs of $857.25M in Q1 2026.
- How has Markel's deferred policy acquisition costs changed year-over-year?
- Markel's deferred policy acquisition costs decreased by 10.8% year-over-year, from $960.67M to $857.25M.
- What is the long-term trend for Markel's deferred policy acquisition costs?
- Over 5 years (2020 to 2025), Markel's deferred policy acquisition costs has grown at a 7.6% compound annual growth rate (CAGR), from $630.79M to $909.52M.
- What does deferred policy acquisition costs mean?
- Costs of selling insurance policies that are spread out over the life of the policy.