Allstate has disclosed total revenues of $16.9 billion for Q1 2026, up $489 million from the same quarter of 2025, while net income increased to $2.4 billion, reflecting strong underwriting results.
Meanwhile, Allstate’s policies in force reached 212 million in Q1 2026, reportedly reflecting increased growth in auto and homeowners insurance and Protection Plans.
Investment income also increased by 9.8% in the opening quarter of the year, driven by portfolio expansion and higher fixed income yields.
Within Property-Liability, earned premiums increased to $14.8 billion in Q1 2026, up 5.5% year-on-year, primarily due to higher homeowners premiums and growth in policies in force.
Underwriting income in the segment increased significantly to $2.7 billion, compared with $360 million in Q1 2025.
In Allstate Protection Auto, results reflected continued execution of its “Transformative Growth” strategy, with strong margins and ongoing new business growth across distribution channels.
Written premiums were broadly flat year-on-year, as gains from higher policies in force were offset by lower average premiums, although earned premiums still increased 2.1%.
The auto combined ratio improved to 81.9 in Q1 2026, a 9.4-point improvement from the prior year, largely driven by prior-year reserve releases.
These reserve adjustments reduced liabilities by $838 million, reflecting lower estimated claims costs for accident years 2023–2025, which improved the current quarter’s combined ratio by 8.8 points.
In Allstate Protection Homeowners, underwriting performance improved markedly in Q1 2026, with profit rising to $685 million from a loss of $451 million in the prior-year quarter.
Allstate said this improvement was mainly driven by lower catastrophe losses compared with 2025, which included significant events such as California wildfires.
Written premiums increased 8.3%, while earned premiums rose 13.9%, supported by higher average premiums and growth in policies in force.
Average gross written premiums for Allstate-branded homeowners insurance increased by 6.8%, reflecting continued rate actions and rising home replacement costs.
The homeowners combined ratio improved to 83.5 in Q1 2026, a 28.8-point improvement year-on-year, driven by lower catastrophe losses and stronger earned premium growth, with catastrophe losses totaling $1 billion, down $778 million from the prior year.
