Allstate still beat EPS estimates by 40% even as catastrophe losses tripled to $1.65 billion, with homeowners rate increases carrying the quarter. Revenue came in missing expectations. Management speaks at 9:00 a.m. ET Wednesday.
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Auto and homeowners insurance policies were 3.4% and 3.3% higher than last year, respectively, as new Affordable, Simple and Connected products and broad distribution resulted in increased market share. Protection Plans' international revenues are growing rapidly.
Allstate is adding customers again on top of raising prices, a shift that matters as industry rate hikes slow and competition for auto shoppers intensifies. Growth in both auto and homeowners policy counts in the same quarter is the signal to track in the Q3 earnings report.
ALLIE has been expanded to handle millions of service calls with additional capabilities planned for early 2027. We continue to innovate to create the future of protection.
Allstate is putting AI at the front line of its claims and service operation, and Wilson tied the next capability wave to early 2027 on the Q3 call. For a $68 billion insurer, service automation at that scale is an expense-ratio story investors will see in margins before they see it in headlines.
Allstate delivered excellent financial results and increased Property-Liability growth in the third quarter. Revenues were $17.3 billion as total policies in force reached 217.6 million, with a 3.3% increase in Property-Liability policies.
After years of shedding customers to fix auto margins, Wilson is now selling growth: Property-Liability policies expanded 3.3% in the third quarter at a $68 billion insurer. Whether that growth holds without giving back underwriting margin is the number to track next quarter.
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