Allstate Corp. second quarter 2026 net income applicable to common shareholders shot up nearly 56% with underwriting income up 56.7% during the period.
Net income was about $3.2 billion for Q2 versus $about $2.1 billion for Q2. Underwriting income was about $2 billion compared with about $1.3 billion during the same time last year.
Allstate’s Property-Liability business turned in a Q2 combined ratio of 86.6—4.5 points better than Q2 2025. Catastrophe losses for the quarter were $1.7 billion compared with $nearly $2 billion.
The Northbrook, Illinois-based insurer’s auto segment turned in Q2 underwriting income of about $1.6, or 20.7% more than the same period in 2025. The combined ratio was 83.3 versus 86 a year ago, due primarily to prior-year reserve releases and improvement in underlying losses, said Allstate, which reported an 8.8 increase in new business during the quarter.
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For Allstate’s homeowners business, the combined ratio improved from an unprofitable 102 in Q2 2025 to 94.6 this year thanks to a 12.8% drop in catastrophe losses to $1.4 billion and higher average earned premiums. New premiums written increased 8.1% to about $4.8 billion in the homeowners line.
At the halfway point of 2026, Allstate said net income applicable to common shareholders has more than doubled to about $5.7 billion compared with about $2.6 billion a year ago.
Topics Profit Loss Underwriting
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