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# Allstate Third-Quarter Profit Falls To $2.1 Billion As Storm Losses Nearly Triple
- URL: https://www.bullished.co/allstate-third-quarter-profit-falls-to-2-1-billion-as-storm-losses-nearly-triple-6fdac718/
- Published: 2026-11-04T22:42:56.000Z
- Updated: 2026-11-04T22:42:56.000Z
- Description: Catastrophe losses hit $1.65 billion and adjusted earnings fell to $9.76 a share, while policies in force grew to 217.6 million.
- Author: Matteo Parrino
- Tags: Earnings, ALL, Industry: Financials

[Allstate](https://www.bullished.co/tag/all/), the insurer that sells auto and homeowners coverage, said third-quarter [net income fell to $2.1 billion](https://www.sec.gov/Archives/edgar/data/0000899051/000089905126000156/allcorp93026earningsreleas.htm?ref=bullished.co) from $3.7 billion a year earlier, or $8.03 per diluted share, as storm losses jumped. Policies in force still grew, and the company called the results "excellent," in a release filed with an [8-K](https://www.sec.gov/Archives/edgar/data/0000899051/000089905126000156/all-20261104.htm?ref=bullished.co) on Wednesday.

## Storms hit homeowners hardest

Catastrophe losses in the Property-Liability business reached $1.65 billion, up from $558 million a year earlier. Underwriting income fell to $2.0 billion from $2.9 billion.

Homeowners took the brunt: catastrophe losses were $1.33 billion against $479 million, and the combined ratio, which measures claims and costs per dollar of premium, worsened to 89.5 from 71.5\. Excluding catastrophes, the homeowners ratio was 60.1, against 59.8 a year earlier.

The company also pointed to last year's gain on the sale of its group health business and this year's investment losses as reasons net income fell.

## Adjusted earnings of $9.76 a share

Adjusted net income, which strips out investment gains and losses and certain other items, was $2.5 billion, or $9.76 per diluted share, against $3.0 billion, or $11.17, a year earlier.

Net investment income rose to $1.2 billion, up $228 million. Net losses on investments and derivatives were $545 million, compared with a $252 million gain a year earlier; the company tied them mainly to higher interest rates.

Revenue was $17.3 billion, up 0.5%.

## 217.6 million policies and new deals

Total policies in force reached 217.6 million, 3.9% above a year earlier, with Protection Services products making up most of the count. Property-Liability policies rose 3.3%; auto policies rose 3.4% and homeowners 3.3%.

Protection Services revenue climbed 6.9% to $964 million. In October, Arity bought INRIX, a transportation intelligence and mobility analytics provider. In November, Arity agreed to buy the rest of Replica, a mobility data company, a deal expected to close before the end of 2026.

CFO Chris Lown said about $1.5 billion went back to shareholders in the quarter through buybacks and dividends, leaving $1.3 billion of a $4.0 billion repurchase authorization.

Allstate holds its earnings call at 9 a.m. ET on Thursday, Nov. 5.

Learn

- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — ALLSTATE CORP (ALL)](https://www.sec.gov/Archives/edgar/data/0000899051/000089905126000156/all-20261104.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit allcorp93026earningsreleas.htm — ALLSTATE CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000899051/000089905126000156/allcorp93026earningsreleas.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit allcorp93026investorsupp.htm — ALLSTATE CORP 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000899051/000089905126000156/allcorp93026investorsupp.htm?ref=bullished.co) — SEC EDGAR
- [Will Property-Liability Underwriting Woes Hurt Allstate's Q3 Results?](https://finance.yahoo.com/markets/stocks/articles/property-liability-underwriting-woes-hurt-160800654.html?.tsrc=rss&ref=bullished.co) — Yahoo Finance
- [Allstate Corporation (The) (ALL) Stock Forecasts](https://finance.yahoo.com/research/reports/MS%5F0P000000A3%5FAnalystReport%5F1793664297000?ref=bullished.co) — Yahoo Finance

### More on Allstate

- [Allstate Adds $216 Million To Old Asbestos And Mass-Tort Reserves While Releasing $802 Million On Auto Injury Claims](https://www.bullished.co/allstate-adds-216-million-to-old-asbestos-and-mass-tort-reserves-while-releasing-802-81fa1dcb/)
- [Allstate Reports $1.65 Billion In Third-Quarter Catastrophe Losses, $220 Million Of It In September](https://www.bullished.co/allstate-reports-1-65-billion-in-third-quarter-catastrophe-losses-220-million-of-it-in-f538b2e6/)

[All Allstate (ALL) coverage →](https://www.bullished.co/tag/all/)