Allstate Corporation, a U.S. provider of personal property and casualty insurance, announced that it expects catastrophe losses to total $1.24 billion in the first quarter of 2026, or $980 million after tax.
While this number represents a significant impact from a severe weather event, it is a significant improvement from the record total disaster losses of $3.3 billion reported in the first quarter of 2025.
The insurer noted that while $1.1 billion in reinsurance recoveries pushed net catastrophe losses to $2.2 billion in the first quarter of 2025, this was still well above the $731 million in net catastrophe losses recorded in the first quarter of 2024.
In March 2026 alone, Allstate estimated catastrophe losses at $925 million, or $731 million after taxes. March 2026 losses included 15 wind and hail events; three of these events alone accounted for approximately 80% of the month’s total losses.
Earlier in the quarter, activity in January was relatively muted, with estimated catastrophe losses of $175 million, equivalent to $138 million after tax, primarily due to Winter Storm Fern.
The 2025 figures include reinsurance reinstatement premiums and estimated California FAIR program assessments, net of reinsurance recoveries of $1.4 billion.
Allstate had 25.75 million auto insurance policies in effect as of March 31, 2026, up slightly from the end of February 2025 and up from 25.1 million a year ago. The total number of homeowners policies was 7.7 million, a slight increase from the previous month and up from 7.54 million in March 2025.
The quota for other individuals was 4.9 million households, which was basically stable month-on-month and slightly higher than the previous year. The number of commercial insurance policies was 177,000, down from 204,000 in the same period last year.
A total of 38.57 million protection policies have been in effect, a slight increase year-on-year. Policy counts are based on lines of insurance rather than individual customers and do not include policies placed by lenders.
