Allstate Q1 Net Income Jumps to $2.4B as Catastrophe Losses Drop
Allstate reported Q1 2026 net income of $2.4bn, up from $566m, with adjusted net income of $2.8bn or $10.65 per diluted share. Underwriting income rose to $2.7bn as catastrophe losses fell to $1bn, while property-liability earned premiums reached $14.8bn and homeowners insurance swung to a $685m profit.
1. Q1 Financial Highlights
Allstate posted net income of $2.4 billion in Q1 2026, up from $566 million a year earlier, and adjusted net income of $2.8 billion, or $10.65 per diluted share, on revenue of $16.9 billion, a 3% increase year over year.
2. Underwriting Performance
Underwriting income surged to $2.7 billion as catastrophe losses declined by $778 million to $1.0 billion, and property-liability earned premiums rose 5.5% to $14.8 billion, reflecting higher homeowners rates and growth in policies in force.
3. Homeowners and Auto Insurance Business
Homeowners insurance delivered a $685 million underwriting profit compared to a $451 million loss in Q1 2025, while the auto segment saw stable written premiums, margin improvements through the Transformative Growth initiative, and record new business capture.
4. Investment Segment Growth
Net income from Allstate Investments climbed $84 million to $938 million, driven by market-based portfolio appreciation on an $85.2 billion asset base.