Allstate stock faces catastrophe-loss test after Q3 earnings

Allstate reported a mixed third quarter on November 4, 2026, with policy growth and higher investment income offset by heavier catastrophe losses. The insurer's SEC filing and results release shows revenue of 17.348 billion US dollars, up 0.5 percent from the prior-year quarter, while net income applicable to common shareholders fell 44.8 percent to 2.050 billion US dollars.

Allstate stock traded at 241.40 euros on Lang & Schwarz at 12:38 CET on Friday, November 13, 2026. The quote reflects the company's US-listed common stock and is shown as a current European trading indication.

Claims pressure offsets policy growth

The core Property-Liability business produced 15.086 billion US dollars in earned premiums, an increase of 3.8 percent. Policies in force grew 3.3 percent, supported by gains in both auto and homeowners insurance. Written premiums rose 2.5 percent, although lower average auto premiums limited the benefit of higher policy volumes.

Profitability was more uneven. Property-Liability underwriting income declined 30.1 percent to 2.022 billion US dollars, while the recorded combined ratio worsened by 6.5 percentage points to 86.6. Catastrophe losses reached 1.650 billion US dollars, compared with 558 million US dollars a year earlier. Allstate said the increase was the main reason for the higher combined ratio, partly offset by more favorable prior-year non-catastrophe reserve releases.

Homeowners insurance carried much of the volatility. Its recorded combined ratio rose to 89.5 from 71.5, as catastrophe losses increased to 1.330 billion US dollars from 479 million US dollars. Underlying profitability remained stronger, with an underlying combined ratio of 60.1, compared with 59.8 in the prior-year quarter. Underwriting income nevertheless fell 59.2 percent to 452 million US dollars.

Growth businesses add support

Auto policies in force increased 3.4 percent, and new business rose 6.3 percent. Allstate said its Affordable, Simple and Connected products were available in 46 states for auto insurance and 42 states for homeowners insurance. The recorded auto combined ratio was 83.2, compared with 82.0 a year earlier, while the underlying ratio rose to 89.8 from 86.0.

Protection Services provided a second source of expansion. Revenue increased 6.9 percent to 964 million US dollars, led by Protection Plans and Roadside. Adjusted net income in the segment rose by 18 million US dollars to 64 million US dollars. Arity revenue increased 11.8 percent to 76 million US dollars, although the unit remained loss-making on an adjusted basis.

Adjusted net income for the group was 2.493 billion US dollars, or 9.76 US dollars per diluted share, down from 2.976 billion US dollars, or 11.17 US dollars, in the prior-year quarter. The adjusted measure excludes items including investment and derivative gains or losses, purchased-intangible amortization and certain non-recurring items, so investors should read it alongside the lower GAAP result rather than as a replacement for it.

Investment results remain a swing factor

Net investment income increased by 228 million US dollars to 1.177 billion US dollars. That support was partly offset by net losses of 545 million US dollars on investments and derivatives, compared with a gain of 252 million US dollars in the prior-year quarter. Allstate also reported a negative 2.1 percent total return on its investment portfolio for the quarter.

The next investor focus is the durability of policy growth without a renewed deterioration in underlying claims costs. Allstate said its third-quarter conference call would take place on November 5, 2026, while the agreement for Arity to acquire the remaining ownership of Replica is expected to close before the end of 2026, subject to customary closing conditions.

The broader US market context is covered in current S&P 500 market reports.

For further company coverage, see More news and analyses on Allstate stock.

Allstate Corp. market facts

• Company: Allstate Corp.
• ISIN: US0200021014
• Ticker: ALL
• Primary exchange: New York Stock Exchange
• Lang & Schwarz price: 241.40 euros at 12:38 CET on Friday, November 13, 2026