Allstate Q2 Net Income Jumps 56% on Underwriting

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.

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.