Allstate reported third quarter 2026 revenue of $17.35 billion, representing a 0.5% year-over-year increase but falling short of analyst estimates. Despite the revenue miss, diluted EPS of $8.03 significantly outperformed the expected $7.03, supported by strong underwriting performance and a substantial 24% rise in net investment income. The company continued its expansion strategy, with Property-Liability policies in force reaching 39.3 million.
Key Highlights
- Pre-tax catastrophe losses totaled $1.65 billion for the quarter, contributing to a Property-Liability recorded combined ratio of 86.6.
- Net investment income rose to $1.2 billion, up from $949 million in the prior year quarter, driven by higher market-based yields and private equity valuations.
- Property-Liability policies in force grew by 3.3% year-over-year, with auto insurance policies specifically increasing by 3.4%.
- Auto insurance new business applications surged 6.3% compared to the prior year quarter, reflecting expanded distribution and marketing efforts.