Added10-Q 2026-11-04 vs 10-K 2026-02-20
Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities
ALLAllstate
The Allstate Corporation was incorporated under the laws of the State of Delaware on November 5, 1992, to serve as the holding company for Allstate Insurance Company. 10-K, Item 1
- Employees
- 53,000
- Headquarters
- Northbrook, IL
- Next results
- around Feb 3, 2027
9 paragraphs in Risk Factors of the 10-K filed Feb 20, 2026 with nothing like them in the 10-K filed Feb 24, 2025. Quoted exactly. Paragraphs that were only edited are under 10-K change.
Compared with the Risk Factors in the latest 10-K of the other 75 Financials companies: a paragraph with at least half its words the same at another company is called similar, and the companies are listed under it. A paragraph most of them have is marked boilerplate. No line means no other company has one like it. This counts text; it does not say how serious a risk is.
covered property, geographic concentration and the number of policyholders exposed to certain events could increase the severity of claims from catastrophic and severe weather events. Where appropriate and supportable, the Company pursues subrogation of its losses resulting from catastrophes and severe weather events. These efforts may be impacted by external factors that vary by jurisdiction, including developments in the law that may restrict subrogation recoveries, including such claims against utility companies.
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Regulatory restrictions or potential delays in the regulatory approval process for new products and features or the use of advanced technologies, non-traditional data sources, or large language models may impact our ability to innovate and enhance the competitiveness of our product offerings in the marketplace.
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We also sell and service NFIP flood policies as an agent of FEMA. The Company is fully indemnified for claims and claim expenses and does not retain any ultimate risk for the indemnified business. Congressional authorization and funding for the NFIP is subject to freezes, including during a government shutdown. Delays in the payment of claims and claim expenses due to authorization or funding freezes, or changes to the administration of the NFIP by the federal government, could result in our customers not receiving payment for qualifying claims, impact the ability to service customer policies or delay the receipt of our fees for services from the NFIP.
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Our business may also be adversely impacted by new or changing technologies and new business models affecting the auto insurance industry
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We continue to identify ways to improve operating efficiency and reduce cost, which may result in
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Enterprise resilience is critical to the ability to restore business operations following a significant operational event
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•Hybrid work models, the design and location of physical workspaces and expectations for employee collaboration
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•Ability to develop employees and create new roles that align with our automation priorities and deliver greater levels of customer value
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1 more
•Violations of the Company’s Global Code of Business Conduct, including public-facing statements by employees that violate our policies
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New in the latest 10-Q
20 paragraphs in the 10-Q filed Nov 4, 2026 with nothing like them in the 10-Q filed Aug 5, 2026 (at least half the words must differ; new numbers alone do not count). Quoted exactly, grouped by the item heading above them. This is text that changed, not a judgement of how serious it is.
Financial statements and notes
($ in millions) Three months ended September 30, Nine months ended September 30,
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Receivable for securities sold and payable for securities purchased primarily consist of amounts due from and owed to counterparties related to unsettled securities purchases and sales. As of September 30, 2026 and December 31, 2025, receivable for securities sold was $ 3.75 billion and $ 133 million, respectively, and payable for securities purchased was $ 4.24 billion and $ 49 million, respectively.
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Below investment grade fixed income securities 445 3,261 (136) 105 411 (38) (174)
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spreads since the time of initial purchase. The unrealized losses are expected to reverse as the securities approach maturity.
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(1) Represents surplus notes and accrued interest held by Allstate companies, substantially all of which have been impaired within the condensed consolidated financial statements.
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(2) During the third quarter of 2026 and 2025, the Company’s annual reserve reviews, using established industry and actuarial best practices, resulted in reserve reestimates that increased reserves by $ 216 million and $ 146 million, respectively.
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The Company made a discretionary contribution of $ 35 million to the qualified pension plan in September 2026.
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In October 2026, Arity, a subsidiary of The Allstate Corporation, acquired substantially all of the assets of INRIX, Inc., a provider of transportation intelligence and mobility analytics. The acquisition expands Arity’s mobility data and analytics capabilities. Certain acquisition-related disclosures are not yet available due to the timing of the transaction. In November 2026, Arity entered into a definitive agreement to acquire the remaining ownership of Replica, a mobility data and technology company. The acquisition is expected to close before the end of 2026, subject to customary closing conditions.
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• Increased new issued applications driven by growth in the independent agency and direct channels
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• Increased new issued applications driven by growth in the independent agency and direct channels during the quarter and across all channels year-to-date
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($ in millions) Three months ended September 30, Nine months ended September 30,
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Annual reserve review In the third quarter of 2026 and 2025, we performed our annual reserve review using established industry and actuarial best practices. The annual review resulted in reserve reestimates that increased reserves by $216 million and $146 million in 2026 and 2025, respectively. The reserve reestimates are included as part of claims and claims expense.
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The reserve reestimates in 2026 were primarily driven by higher claim frequency and severity for asbestos claims and emerging claims activity and expected settlement values on environmental and other mass tort claims.
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The reserve reestimates in 2025 were primarily related to new reported information for asbestos
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claims, new reported claims for environmental and other mass tort claims and increased projections for claims expenses.
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We believe that our reserves are appropriately established based on available facts, technology, laws, regulations and assessments of other pertinent factors and characteristics of exposure (e.g., claim activity, potential liability, jurisdiction, products versus non-products exposure) presented by individual policyholders, assuming no change in the legal, legislative or economic environment. However, as we progress with the resolution of disputed claims in the courts and arbitrations and with negotiations and settlements, our reported losses may be more variable.
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As of September 30, 2026, fixed income securities, short-term investments and fixed income funds
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In August 2026, S&P affirmed The Allstate Corporation’s (the “Corporation”) senior debt and short-term issuer ratings of BBB+ and A-2, respectively, and Allstate Insurance Company’s (“AIC”) insurance financial strength rating of A+. The outlook for the ratings changed from stable to positive.
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In September 2026, A.M. Best affirmed the Corporation’s senior debt and short-term issuer ratings of a- and AMB-1, respectively, and AIC’s insurance financial strength rating of A+. The outlook for the ratings is stable.
Read in the 10-Q ↗
Other information
On September 23, 2026, Jesse E. Merten, Executive Vice President and President, Property-Liability, Allstate Insurance Company, adopted a Rule 10b5-1 trading plan. The Rule 10b5-1 plan is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Securities Exchange Act of 1934, as amended. Mr. Merten’s Rule 10b5-1 plan provides for the sale of up to 10,555 shares of the Company’s common stock. The Rule 10b5-1 plan expires on April 14, 2027, or upon the earlier completion of all authorized transactions thereunder.
Read in the 10-Q ↗
The 10-Q's risk factors against the 10-K
Item 1A of the 10-Q filed Nov 4, 2026 against Item 1A of the 10-K filed Feb 20, 2026.
A 10-Q repeats only the risks that changed, so a 10-K paragraph that is missing from it is not counted as removed.
Added is a paragraph with nothing like it in the 10-K, Reworded a sentence that is in both with several words changed,
Quiet changes a sentence in both where one to four words changed and one is a hedge or a modal
(cut words struck through, new words highlighted and underlined).
Text on the page, not a score; each links to the filing at sec.gov.
What the 10-Q itself says about its risk factors:
Read in the 10-Q ↗
There have been no material changes in our risk factors from those disclosed in Part I, Item 1A in our annual report on Form 10-K for the year ended December 31, 2025.
Added10-Q 2026-11-04 vs 10-K 2026-02-20
(1) In accordance with the terms of its equity compensation plans, Allstate acquired the following shares in connection with the vesting of restricted stock units and performance stock awards and the exercise of stock options held by employees and/or directors. The shares were acquired in satisfaction of withholding taxes due upon exercise or vesting and in payment of the exercise price of the options.
Added10-Q 2026-11-04 vs 10-K 2026-02-20
(2) From time to time, repurchases under our programs are executed under the terms of a pre-set trading plan meeting the requirements of Rule 10b5-1(c) of the Securities Exchange Act of 1934.
Added10-Q 2026-11-04 vs 10-K 2026-02-20
(3) On February 4, 2026, the Board of Directors authorized a common share repurchase program for $4.00 billion which must be completed by February 29, 2028.
Work on ALL in a spreadsheet:
Excel workbook (a sheet per section, ten years by column, charts, links to the filings) ·
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