What is Allstate's protection services — unearned premiums?

Allstate (ALL) reported protection services — unearned premiums of $5.61B in Q4 2025.

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

Allstate's protection services — unearned premiums increased by 4.1% year-over-year, from $5.39B to $5.61B.

What does protection services — unearned premiums mean?

Represents the portion of premiums collected by the Protection Services segment that has not yet been earned as revenue because the policy coverage period remains active. This liability reflects the company's obligation to provide future insurance coverage for the remainder of the policy term.

Allstate ALL Protection Services — Unearned premiums

Other segment segments

Allstate Protection and Run-off Property-Liability

$19.54B—

Similar metrics at other companies

LNCGroup Protection — Unearned Premiums

$0—

SPNTInsurance & Services — Unearned premium

$1.16B+24.7%

LNCRetirement Plan Services — Unearned Premiums

$0—

KMPRLife Insurance — Unearned Premiums

$8.5M+3.7%

ESN

ESNTUnearned premiums

$226.31M+109%

HMNUnearned premiums

$363.1M+7.8%

Other financials

Income statement

See full

Revenue$16.9B+3.0%

Net income$2.5B+313%

EPS (diluted)$9.25+338%

Balance sheet

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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

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Operating cash flow$3.6B+81.4%

CapEx$40.0M-56.5%

Free cash flow$3.5B+88.1%

Valuation

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Market cap$59.62B+15.3%

Enterprise value$66.41B+12.6%

P/E4.9×-8.0×

P/S0.9×+0.1×

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:SupplementaryInsuranceInformationUnearnedPremiums.

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 — unearned premiums?: Allstate (ALL) reported protection services — unearned premiums of $5.61B in Q4 2025.
How has Allstate's protection services — unearned premiums changed year-over-year?: Allstate's protection services — unearned premiums increased by 4.1% year-over-year, from $5.39B to $5.61B.
What does protection services — unearned premiums mean?: Represents the portion of premiums collected by the Protection Services segment that has not yet been earned as revenue because the policy coverage period remains active. This liability reflects the company's obligation to provide future insurance coverage for the remainder of the policy term.