Allstate reported total revenue of $16.9 billion in the first quarter of 2026, an increase of $489 million from the same quarter in 2025, and net income increased to $2.4 billion, reflecting strong underwriting performance.
Meanwhile, Allstate’s active policies reached 212 million in the first quarter of 2026, reportedly reflecting growth in auto and homeowners insurance and protection plans.
Investment income also rose 9.8% in the first quarter of the year, driven by portfolio expansion and rising fixed income yields.
In property and liability insurance, premiums earned increased to $14.8 billion in the first quarter of 2026, up 5.5% year over year, primarily due to higher homeowner premiums and growth in policies in force.
Underwriting revenue for the segment increased significantly to $2.7 billion, compared with $360 million in the first quarter of 2025.
Allstate Protection Auto’s results reflect the continued execution of its Transformational Growth strategy, with strong margins and continued new business growth across all distribution channels.
Written premiums were essentially unchanged from the same period last year as gains from an increase in in-force policies were offset by a decrease in average premiums, but premiums earned still increased by 2.1%.
In the first quarter of 2026, the automobile combined ratio increased to 81.9, an increase of 9.4 percentage points from the previous year, which was mainly driven by the release of reserves from the previous year.
These reserve adjustments reduced liabilities by $838 million and reflected lower projected claims costs in the 2023-2025 incident years, improving the combined ratio by 8.8 percentage points in the quarter.
Among Allstate Protection Homeowners, underwriting results improved significantly in the first quarter of 2026, with profits rising to $685 million from a loss of $451 million in the year-earlier period.
Allstate said the improvement was primarily due to reduced disaster losses compared with 2025, which included major events such as the California wildfires.
Supported by an increase in average premiums and growth in in-force policies, written premiums increased by 8.3% and earned premiums increased by 13.9%.
Average gross premiums for Allstate brand homeowners insurance increased 6.8%, reflecting continued rate action and rising home replacement costs.
Driven by reduced catastrophe losses and strong growth in earned premiums, the homeowner’s combined ratio improved to 83.5 in the first quarter of 2026, an increase of 28.8 percentage points year-on-year, and total catastrophe losses were US$1 billion, a decrease of US$778 million from the previous year.