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Principal Financial Group PFG Reserve for Incurred But Not Reported (IBNR) Claims

Reserve for Incurred But Not Reported (IBNR) Claims at other companies

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American International GroupAIG
$321M-20.1%
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Corebridge FinancialCRBG
$3B+3.4%

Other financials

Income statement

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Revenue$3.9B+6.4%
Net income$403.4M-0.7%
EPS (diluted)$1.84+2.8%

Balance sheet

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Cash & equivalents$5.3B+43.7%
Total debt$4.3B+10.0%
Total equity$12.1B+6.4%
Total assets$352.75B+9.2%

Cash flow

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Operating cash flow$2.1B+156%

Valuation

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Market cap$24.59B+43.7%
Enterprise value$23.67B+36.0%
P/E15.8×+0.8×
P/S1.6×+0.4×

Profitability

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Net margin9.9%+2.4pp

Returns & leverage

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Return on equity13.2%+3.1pp
Debt / equity0.4×0.0×

Where this comes from

Reported directly by Principal Financial Group in its filing.

Tagged under the XBRL concept us-gaap:OtherPolicyholderFunds.

The source filing: Principal Financial Group’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 2:34 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001104659-26-088071
Line itemJune 30, 2026December 31, 2025
Contractholder funds$47,068.4$45,380.3
Future policy benefits and claims51,248.151,749.7
Market risk benefit liability65.966.9
Other policyholder funds944.0940.8
Short-term debt16.227.7
Long-term debt4,324.43,926.3
Income taxes currently payable16.829.5
Deferred income taxes1,932.11,856.4

Item 1. Financial Statements

FAQ

What is Principal Financial Group's reserve for incurred but not reported (IBNR) claims?
Principal Financial Group (PFG) reported reserve for incurred but not reported (IBNR) claims of $944M in Q2 2026.
How has Principal Financial Group's reserve for incurred but not reported (IBNR) claims changed year-over-year?
Principal Financial Group's reserve for incurred but not reported (IBNR) claims increased by 0.9% year-over-year, from $935.5M to $944M.
What is the long-term trend for Principal Financial Group's reserve for incurred but not reported (IBNR) claims?
Over 5 years (2020 to 2025), Principal Financial Group's reserve for incurred but not reported (IBNR) claims has grown at a -2.3% compound annual growth rate (CAGR), from $1.06B to $940.8M.
What does reserve for incurred but not reported (IBNR) claims mean?
This reserve represents the estimated liability for insurance claims that have occurred but have not yet been reported to the insurer by the policyholder. It is a critical actuarial estimate used to ensure the company maintains sufficient capital to cover pending claims.

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