Summary
The Allstate Corporation reported a significant increase in net income attributable to common shareholders for the first quarter of 2026, reaching $2.43 billion, a substantial rise from $566 million in the prior year's first quarter. This surge was primarily driven by a notable improvement in underwriting income, largely due to a sharp decrease in catastrophe losses and the benefit of prior year reserve releases. Total revenues also saw a modest increase of 3.0% to $16.94 billion, supported by growth in auto and homeowners insurance policies and rate increases. Investment income also contributed positively, increasing by $84 million to $938 million, reflecting higher market-based investment results. The company's financial position strengthened, with total assets rising to $123.97 billion and Allstate shareholders' equity growing to $31.61 billion. This growth in equity was bolstered by strong net income, although partially offset by common share repurchases, unrealized capital losses, and dividends. The company also repurchased a significant amount of its common stock and announced a new, substantial share repurchase program, indicating confidence in its financial performance and commitment to returning value to shareholders.
Financial Highlights
33 data points| Revenue | $16.94B |
| Net Income | $2.46B |
| EPS (Basic) | $9.36 |
| EPS (Diluted) | $9.25 |
| Shares Outstanding (Basic) | 259.40M |
| Shares Outstanding (Diluted) | 262.60M |
Key Highlights
- 1Net income applicable to common shareholders surged to $2.43 billion, a significant increase from $566 million in Q1 2025, driven by improved underwriting results.
- 2Total revenues grew by 3.0% to $16.94 billion, primarily due to an increase in auto and homeowners insurance policies in force and rate adjustments.
- 3Underwriting income in the Allstate Protection segment dramatically improved, reaching $2.66 billion compared to $364 million in the prior year, largely due to reduced catastrophe losses and favorable prior year reserve development.
- 4Net investment income increased by $84 million to $938 million, reflecting higher average investment balances and improved performance-based investment results.
- 5Allstate shareholders' equity increased to $31.61 billion, supported by strong net income, though impacted by share repurchases and dividends.
- 6The company repurchased $620 million of common stock in Q1 2026 and announced a new $4.00 billion repurchase program, demonstrating a commitment to shareholder returns.
- 7A significant decrease in catastrophe losses ($1.24 billion in Q1 2026 vs. $2.20 billion in Q1 2025) was a primary driver of the improved underwriting results.