The Allstate Corporation, a provider of personal property and casualty insurance in the US, has announced its estimated catastrophe losses for the first quarter of 2026, totalling $1.24 billion, or $980 million, after-tax.
While the figure represents a significant impact from severe weather events, it marks a significant improvement over gross catastrophe losses of $3.3 billion – a record figure – reported for the first quarter of 2025.
The insurer noted that although $1.1 billion in reinsurance recoveries pushed net cat losses down to $2.2 billion in Q1 2025, this is still far higher than the $731 million of net cat losses recorded in Q1 2024.
For March 2026 alone, Allstate estimated catastrophe losses of $925 million, or $731 million after tax. March 2026 losses include 15 wind and hail events; just three of these events were responsible for approximately 80% of the month’s total losses.
Earlier in the quarter, January saw relatively mild activity with estimated catastrophe losses of $175 million, equivalent to $138 million after tax, primarily attributed to Winter Storm Fern.
The 2025 figure included reinsurance reinstatement premiums and an estimated California FAIR Plan assessment, net of reinsurance recoveries of $1.40 billion.
At 31 March 2026, Allstate had 25.75 million Auto insurance policies in force, slightly higher than at the end of February 2025 and up from 25.10 million a year earlier. Homeowners policies totalled 7.7 million, marginally higher month on month and up from 7.54 million in March 2025.
Other personal lines stood at 4.90 million, broadly stable compared with the prior month and slightly ahead of the previous year. Commercial lines accounted for 177,000 policies, down from 204,000 a year earlier.
In total, protection policies in force reached 38.57 million, a slight increase from the same period the year prior. Policy counts are based on insured items rather than individual customers, and lender-placed policies are excluded.
