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Allstate
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Latest analysis
Updated Aug 5, 2026
Allstate Q2 2026: 86.6% combined ratio and $2B underwriting income signal sustained structural outperformance vs. industry.
Allstate posted a Property-Liability combined ratio of 86.6% in Q2 2026, a 4.5-point improvement year-over-year, driven by $1.5 billion in auto claim reserve releases year-to-date and lower catastrophe losses. The underlying combined ratio held at 79.4%, consistent with prior year, while underwriting income surged nearly 57% to $2 billion — confirming that margin strength is structural, not cyclical. With $9.5 billion of deployable capital at the holding company and Agentic AI platform 'Ally' in active build, Allstate is simultaneously returning capital at scale and investing in the next phase of competitive separation.
Tone: bullishRevenue
$67.7B
ALL 10-K · FY 2025
Employees
53,300
Revenue FY2024
$64.1B
Founded
1992
Profile
ALL 10-K Item 1 · Feb 20, 2026The Allstate Corporation is one of the largest publicly held personal lines insurers in the United States, offering auto, homeowners, and other personal lines insurance through exclusive agents, independent agents, and direct channels. Beyond core property-liability insurance, Allstate operates Protection Services covering consumer product protection plans, roadside assistance, identity protection, and telematics-based mobility analytics. Its strategy centers on increasing personal property-liability market share while broadening protection offerings under the Allstate, National General, and Direct Auto brands.
Read filing description ↓ Collapse description ↑
The Allstate Corporation is one of the largest publicly held personal lines insurers in the United States. Allstate's strategy is to increase market share in personal property-liability and broaden protection offerings. The Allstate brand is widely known through the 'You're In Good Hands With Allstate' slogan. We empower customers with protection to help them achieve their hopes and dreams. We provide affordable, simple and connected protection solutions. We create economic value for our shareholders, opportunity for our team and improve communities. Allstate Protection's strategy is to be a low cost digital provider that offers Affordable, Simple and Connected products. Allstate Protection will increase personal lines market share through Transformative Growth. Transformative Growth is about creating a business model, capabilities and culture that continually transform to better serve customers. This is achieved through our multi-channel distribution strategy, which leverages our exclusive agency, independent agency and direct channels to deliver affordable, simple and connected protection. Protection Services' strategy is to better serve and connect to customers by innovating new products and services, expand distribution and provide affordable, simple and connected protection solutions. Protection Plans expand distribution and product breadth of consumer protection plans through new and existing retailers and mobile operators across North America, Europe and Asia. Arity provides industry-leading telematics and mobility insights to insurance companies, retailers, mapping and traffic companies, public sector and consumer mobile apps.
Primary products
- Auto insurance
- Homeowners insurance
- Specialty auto (motorcycle, trailer, motor home and off-road vehicle)
- Other personal lines (renters, condominium, landlord, boat, umbrella, manufactured home, scheduled personal property and valuable item protection)
- Commercial lines
- Consumer protection plans
Business segments
End markets
Geographies
“The Allstate Corporation is one of the largest publicly held personal lines insurers in the United States.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue increased 5.6% to $67.69 billion in 2025 compared to 2024, primarily due to higher auto and homeowners insurance policies in force and premium rate increases.
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