The Allstate Corporation Reports Third Quarter 2026 Financial Results

Executive Summary

The Allstate Corporation (NYSE: ALL) filed Form 8-K under Item 2.02 detailing its third-quarter 2026 financial and operating performance. The insurer posted consolidated revenues of $17.35 billion, up 0.5% year-over-year, supported by growth in Property-Liability policies and Protection Services.

Key Financial Highlights

• Consolidated Revenues: $17.35 billion in Q3 2026 vs. $17.26 billion in Q3 2025 (+0.5%).
• Net Income Applicable to Common Shareholders: $2.05 billion ($8.03 per diluted share) compared to $3.72 billion ($13.95 per diluted share) in Q3 2025, primarily impacted by higher catastrophe losses, the non-recurrence of the 2025 gain on the sale of the group health business, and net losses on investments/derivatives.
• Adjusted Net Income: $2.49 billion ($9.76 per diluted share) compared to $2.98 billion ($11.17 per diluted share) in the prior-year period.
• Nine-Month Overview: Consolidated nine-month revenue reached $52.89 billion (+5.1% YoY) with net income applicable to common shareholders of $7.72 billion ($29.79 per diluted share, +25.4% YoY).

Property-Liability Performance

• Premiums Written: $16.02 billion, representing a 2.5% increase year-over-year.
• Premiums Earned: $15.09 billion, up 3.8% from $14.53 billion in Q3 2025.
• Underwriting Profitability:
  • Recorded Combined Ratio: 86.6% (compared to 80.1% in Q3 2025).
  • Underlying Combined Ratio: 80.5% (compared to 78.7% in Q3 2025).
  • Catastrophe Losses: $1.65 billion for the quarter.

Operational & Strategic Highlights

• Policy Growth: Total policies in force reached 217.61 million, an increase of 3.9% year-over-year.
• Auto and Homeowners: Policies increased 3.4% and 3.3% respectively, supported by new product offerings and expanded distribution.
• ALLIE Ecosystem: Continued scaling of Allstate's Large Language Intelligent Ecosystem (ALLIE) to manage service calls, with expanded capabilities planned for early 2027.
• Shareholder Equity & Book Value: Trailing 12-month return on common shareholders' equity stood at 41.3%, with book value per common share rising 25.3% to $120.23.