Property and casualty insurers achieved their best first-quarter results in 25 years, with auto insurance driving much of the $22.1 billion industry profit. Major insurers like State Farm, Progressive, and GEICO all posted gains exceeding $1 billion.
insurance profits
Allstate Q1 Profits Jump as Disaster Claims Drop
Allstate reported increased first-quarter profits driven by significantly lower catastrophe losses compared to the same period last year, when California wildfires impacted results. The earnings boost reflects broader industry trends of reduced disaster payouts in early 2026.