General

12 Months Ended

Dec. 31, 2025


Note 1			General

Basis of presentation

The accompanying consolidated financial statements include the accounts of The Allstate Corporation (the “Corporation”) and its wholly owned subsidiaries, primarily Allstate Insurance Company (“AIC”), a property and casualty insurance company (collectively referred to as the “Company” or “Allstate”) and variable interest entities (“VIEs”) in which the Company is considered a primary beneficiary. These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”). All significant intercompany accounts and transactions have been eliminated. Certain amounts have been reclassified to conform to current year presentation.

The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could differ from those estimates.

Nature of operations

Allstate is engaged, principally in the United States, in the property and casualty insurance business. Allstate is one of the country’s largest personal property and casualty insurers and is organized into four reportable segments: Allstate Protection, Run-off Property-Liability, Protection Services and Corporate.

Allstate’s primary business is the sale of private passenger auto and homeowners insurance. The Company offers several other personal property and casualty insurance products, select commercial property and casualty coverages, consumer product protection plans, mobility intelligence services and analytic solutions using automotive telematics information, roadside assistance, automotive

protection and insurance products, identity protection and individual accident and health insurance. Allstate primarily distributes its products through exclusive agents, independent agents and brokers, direct to consumers through contact centers and online and major retailers.

Risks and uncertainties

Allstate has exposure to catastrophic events, including wind/hail, tornadoes, severe freeze events, hurricanes, tropical storms, wildfires, earthquakes, tsunamis, volcanic eruptions, terrorism and industrial accidents.

Catastrophes, an inherent risk of the property and casualty insurance business, have contributed, and will continue to contribute, to material year-to-year fluctuations in the Company’s results of operations and financial position (see Note 10). The nature and level of catastrophic loss experienced in any period cannot be predicted and could be material to results of operations and financial position.

The Company considers the following categories and locations to be the greatest areas of potential catastrophe losses:

•Severe convective storms and freeze — Major metropolitan centers in Colorado, Georgia, Illinois, Oklahoma and Texas

•Hurricanes — Major metropolitan centers along the eastern and gulf coasts of the United States

•Wildfires — California, Colorado, Oregon and Texas

•Earthquakes and fires following earthquakes —Major metropolitan centers near fault lines in the states of California, Kentucky, Oregon, South Carolina and Washington