Home›Insurance›Property Insurance›Allstate Q2 net income rises 56% as underwriting impro…

Allstate Q2 net income rises 56% as underwriting improves

Allstate reported a Q2 combined ratio of 86.6 for its property-liability business, and homeowners results improved as catastrophe losses fell 12.8% year over year.

Reported · Written up by our desk · Property Insurance

Allstate Corp. said its second-quarter 2026 net income applicable to common shareholders rose nearly 56%, helped by a 56.7% increase in underwriting income. The insurer reported about $3.2 billion of Q2 net income, versus about $2.1 billion in the same quarter a year earlier, according to Insurance Journal.

Allstate’s property-liability business delivered a Q2 combined ratio of 86.6, 4.5 points better than Q2 2025. Catastrophe losses were $1.7 billion for the quarter, compared with nearly $2 billion a year ago, and underwriting income was about $2.0 billion versus about $1.3 billion last year.

In auto, Allstate posted Q2 underwriting income of about $1.6, up 20.7% from the prior year period, and the auto combined ratio was 83.3 versus 86 a year ago. In homeowners, the combined ratio improved from an unprofitable 102 in Q2 2025 to 94.6 in 2026, driven by a 12.8% drop in catastrophe losses to $1.4 billion and higher average earned premiums.

For the first half of 2026, Allstate said net income applicable to common shareholders more than doubled to about $5.7 billion, compared with about $2.6 billion a year ago. It also reported new business increased 8.8% during the quarter, while new premiums written in homeowners rose 8.1% to about $4.8 billion.

More like this

Sources