What is Allstate's protection services — recoverables?

Allstate (ALL) reported protection services — recoverables of $12M in Q4 2025.

How has Allstate's protection services — recoverables changed year-over-year?

Allstate's protection services — recoverables decreased by 20.0% year-over-year, from $15M to $12M.

What does protection services — recoverables mean?

The amount of claims and related expenses that the Protection Services segment expects to recover from third parties, primarily reinsurers. This represents an asset that offsets the gross liability for unpaid claims.

Allstate ALL Protection Services — Recoverables

Other product segments

Auto insurance - liability coverage

$6.3B—

Homeowners

$679M+29.8%

Run-off Property-Liability

$419M—

Commercial lines

$231M-22.7%

Other personal lines

$204M-21.5%

Auto insurance - physical damage coverage

$18M—

Other business lines

$14M+600%

Similar metrics at other companies

METProtection Health — Reinsurance Recoverable for Unpaid Claims and Claims Adjustments

$23M+35.3%

METProtection Life — Reinsurance Recoverable for Unpaid Claims and Claims Adjustments

$18M+63.6%

ACGLThird party claims-made business — Unpaid losses and loss adjustment expenses recoverable

$907M-1.7%

HUMProtective Life Insurance Company — Reinsurance Recoverables, Including Reinsurance Premium Paid

$146M-5.2%

APORetirement Services — Reinsurance recoverable

$1.85B+7.1%

CINFCommercial Property Segment — Reinsurance recoverable on unpaid losses

$19M-20.8%

Other financials

Income statement

See full

Revenue$16.9B+3.0%

Net income$2.5B+313%

EPS (diluted)$9.25+338%

Balance sheet

See full

Cash & equivalents$697.0M-17.0%

Total debt$7.5B-7.4%

Total equity$31.6B+43.3%

Total assets$123.97B+7.7%

Cash flow

See full

Operating cash flow$3.6B+81.4%

CapEx$40.0M-56.5%

Free cash flow$3.5B+88.1%

Valuation

See full

Market cap$59.61B-1.9%

Profitability

See full

Net margin17.8%+11.6pp

FCF margin16.9%+3.2pp

Returns & leverage

See full

Return on equity45.2%+25.4pp

Debt / equity0.2×-0.1×

Where this comes from

Reported directly by Allstate in its filing.

Tagged under the XBRL concept us-gaap:ReinsuranceRecoverableForUnpaidClaimsAndClaimsAdjustments.

The official record: Allstate’s 10-K, filed February 20, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Allstate's protection services — recoverables?: Allstate (ALL) reported protection services — recoverables of $12M in Q4 2025.
How has Allstate's protection services — recoverables changed year-over-year?: Allstate's protection services — recoverables decreased by 20.0% year-over-year, from $15M to $12M.
What does protection services — recoverables mean?: The amount of claims and related expenses that the Protection Services segment expects to recover from third parties, primarily reinsurers. This represents an asset that offsets the gross liability for unpaid claims.