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Principal Financial Group PFG Pension Risk Transfer — Deferred Policy Acquisition Costs

Other product segments

Workplace Savings And Retirement Solutions
$530.7M+2.2%
Variable Annuity
$394.5M+17.0%
Deferred Fixed Annuity
$62.8M-21.3%
Other Shortduration Insurance Product Line
$39.8M+0.3%
Investment Only
$11.6M-9.4%
Other Longduration Insurance Product Line
$1.3M-78.3%

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$4M
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$3.43B+11.3%
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UHALDeferred Fixed Annuity — Deferred Policy Acquisition Costs
$56.98M-5.8%
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CRBGGroup Retirement — Deferred Policy Acquisition Cost
$1.05B+0.3%
Equitable Holdings logo
EQHRetirement — Deferred policy acquisition costs
$5.16B+8.0%

Other financials

Income statement

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Revenue$3.5B-4.5%
Net income$424.6M+783%
EPS (diluted)$1.93+819%

Balance sheet

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Cash & equivalents$4.1B+4.6%
Total debt$3.9B-9.3%
Total equity$11.8B+5.3%
Total assets$332.70B+6.3%

Cash flow

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Operating cash flow$187.1M-80.9%

Valuation

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Market cap$23.28B+36.3%
Enterprise value$23.17B+33.5%
P/E14.9×-0.1×
P/S1.5×+0.4×

Profitability

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Net margin10.1%+3.2pp

Returns & leverage

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Return on equity13.6%+3.9pp
Debt / equity0.3×-0.1×

Where this comes from

Reported directly by Principal Financial Group in its filing.

Tagged under the XBRL concept us-gaap:DeferredPolicyAcquisitionCosts.

The official record: Principal Financial Group’s 10-Q, filed April 29, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Principal Financial Group's pension risk transfer — deferred policy acquisition costs?
Principal Financial Group (PFG) reported pension risk transfer — deferred policy acquisition costs of $24.6M in Q1 2026.
How has Principal Financial Group's pension risk transfer — deferred policy acquisition costs changed year-over-year?
Principal Financial Group's pension risk transfer — deferred policy acquisition costs increased by 10.3% year-over-year, from $22.3M to $24.6M.
What is the long-term trend for Principal Financial Group's pension risk transfer — deferred policy acquisition costs?
Over 2 years (2023 to 2025), Principal Financial Group's pension risk transfer — deferred policy acquisition costs has grown at a 31.3% compound annual growth rate (CAGR), from $54.6M to $94.1M.
What does pension risk transfer — deferred policy acquisition costs mean?
Represents the unamortized balance of costs directly associated with acquiring new pension risk transfer contracts. These costs are capitalized and amortized over the expected life of the policies to match expenses with related revenues.