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Allstate ALL Protection Services — Unearned premiums

Other segment segments

Allstate Protection and Run-off Property-Liability
$19.54B

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Other financials

Income statement

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Revenue$18.6B+11.8%
Net income$3.3B+55.1%
EPS (diluted)$12.51+61.2%

Balance sheet

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Cash & equivalents$840.0M-15.6%
Total debt$7.5B-7.4%
Total equity$33.7B+40.3%
Total assets$124.76B+7.6%

Cash flow

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Operating cash flow$2.6B+40.6%
CapEx$43.0M
Free cash flow$2.6B+38.3%

Valuation

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Market cap$67.51B+23.9%
Enterprise value$74.17B+20.4%
P/E5.1×-4.3×
P/S+0.1×

Profitability

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Net margin18.9%+10.2pp
FCF margin17.5%+4.6pp

Returns & leverage

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Return on equity46%+18.8pp
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 source filing: Allstate’s 10-K, filed February 20, 2026.

Filed
Feb 19, 2026, 7:00 PM EST
Fiscal year
FY2025
Accession
0000899051-26-000031
($ in millions) / SegmentAs of December 31, / DeferredpolicyacquisitioncostsAs of December 31, / Reserves for claims and claims expense, contract benefits and contractholder fundsAs of December 31, / Unearned premiumsFor the years ended December 31, / Premium revenue and contract chargesFor the years ended December 31, / Net investment incomeFor the years ended December 31, / Claims and claims expense and accident, health and other policy benefitsFor the years ended December 31, / Amortization of deferred policy acquisition costsFor the years ended December 31, / Other operating costs and expensesFor the years ended December 31, / Premiums written (excluding life)
Allstate Protection$2,803$39,153$23,464$57,682$36,626$7,003$7,410$59,546
Run-off Property-Liability1,8521513
Allstate Protection and Run-off Property-Liability net investment income (2)$3,157
Protection Services (1)3,274745,6052,958996991,3281,2733,006
Allstate Health and Benefits4902437930214187
Corporate160512
All other8627111456927728336678
Intersegment Eliminations (1)(137)(22)(115)

Item 16. Form 10-K Summary

FAQ

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.

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