Allstate posts modest policy growth amid pricing shifts
The insurer added 1 million policies in force in the quarter, reaching 212 million.
The property-and-casualty insurer Allstate (ALL) reported a slight increase in policies in force during the latest quarter, reflecting measured expansion in a competitive pricing environment. The company ended the period with 212 million policies, up from 211 million in each of the prior four quarters.
The gain, while modest, marked the first sequential increase in policies in force after a year of flat growth, according to filings. Allstate had held its policy count steady at 211 million since the second quarter of 2025, as it adjusted pricing and underwriting in response to elevated catastrophe losses and reinsurance costs.
Revenue for the quarter rose 4% year-over-year to $15.3 billion, while adjusted earnings fell 3% to $4.75 a share. The decline in earnings reflected higher claims costs, partially offset by premium increases and investment income gains, the company said.
The increase in policies in force was driven primarily by growth in Allstate’s auto and homeowners lines, where the company has selectively expanded coverage in states with improving loss trends. Auto policies rose 1% sequentially, while homeowners policies climbed 2%, according to the filings. Commercial lines remained flat, reflecting ongoing underwriting discipline in that segment.
Allstate did not update its full-year guidance but reiterated its expectation for adjusted earnings of $18 to $20 a share in 2026. The company said it continues to target mid-single-digit premium growth while maintaining underwriting margins.
The insurer also announced a $500 million increase to its share-repurchase authorization, bringing the total remaining capacity to $1.2 billion. The move underscored management’s confidence in its capital position amid ongoing volatility in catastrophe exposure.