The Allstate Corporation (NYSE: ALL) has agreed to a transaction in which Wilton Re will pay $220 million to acquire Allstate Life Insurance Company of New York (ALNY). The transaction is expected to close in the second half of 2021, subject to regulatory approval and other closing conditions. This transaction, along with the agreement announced […]
Collision Repair Education Foundation Announces Six New Board Members
The Collision Repair Education Foundation (CREF) announced the appointment of six new members to its Board of Trustees. The six Board of Trustees members who joined in 2020 include: Tom Brown, 3M Paul Folino, LKQ Corporation Brenda Hogen, PartsTrader Ken Hudson, Farmers Insurance Scott Kohl, Liberty Mutual Insurance Sandee Lindorfer, Allstate Insurance Company Tom Wolf, […]
Allstate Closes National General Acquisition
The Allstate Corporation (NYSE: ALL) announced that it closed its previously announced $4 billion acquisition of National General Holdings Corp. “The acquisition of National General advances our strategy of growing personal lines insurance with an increase of 1 percentage point in market share. Independent agents will now have more protection offerings for customers, with a […]
New York Department of Financial Services Fines Allstate, State Farm, AIG, and Tri-State Insurance Companies $2.1 Million
Allstate and State Farm also pay $10.6 million in restitution to consumers. New York State Superintendent of Financial Services Linda A. Lacewell announced that the Department of Financial Services (DFS) has fined Allstate Insurance Group, State Farm Insurance Group, AIG Property Casualty Company, and Tri-State Consumer Insurance Company a combined $2.1 million for violations of […]
Allstate Brand Auto Insurance Net Written Premiums Up 1.1% in Third Quarter
Allstate brand policies in force up just 0.1%. Company continues to advance its transformative growth plan. The Allstate Corporation (NYSE: ALL) reported total revenues of $11.5 billion in the third quarter of 2020 increased 3.9% compared to the prior year quarter, reflecting net realized capital gains of $440 million and a 1.9% increase in Property-Liability […]
Allstate Announces 3,800 Staff Reduction as Part of Restructuring Plan
The Allstate Corporation (NYSE: ALL) announced that to lower costs, a restructuring plan is being implemented which will impact approximately 3,800 employees primarily in claims, sales, service and support functions. According to the company, the move is part of its multi-year Transformative Growth Plan with a goal to increase personal property-liability market share by expanding […]
Allstate Reports Revenue Up 0.5% in Second Quarter
The Allstate-brand auto insurance combined ratio was 83.9, down more than 8 points due to pandemic impact on driving. The Allstate Corporation (NYSE: ALL) today reported second quarter revenue of $11.2 billion in the second quarter of 2020 increased 0.5% compared to the prior year quarter, primarily driven by net realized capital gains of $704 […]
Allstate Acquires National General
The Allstate Corporation (NYSE: ALL) announced it will acquire National General Holdings Corporation for approximately $4 billion in cash, or $34.50 per share. The transaction is expected to close in early 2021, subject to regulatory approvals and other customary closing conditions. “Acquiring National General accelerates Allstate’s strategy to increase market share in personal property-liability and […]
Consumer Groups Applaud Allstate And American Family Shelter-In-Place Auto Insurance Refunds
Groups urge other auto insurers to do the same. The Consumer Federation of America (CFA) and the Center for Economic Justice (CEJ) applauded insurers Allstate and American Family Insurance for promising premium relief to policyholders totaling $800 million. This reflects a sharp drop in auto insurance claims resulting from far fewer miles driven as millions […]
Allstate and American Family Announce Programs to Return Portion of Premiums to Auto Insurance Customers
Both Allstate Insurance and American Family announced programs to return a portion of paid insurance premiums back to customers given dramatic declines in driving and accidents in as a result of shelter-in-place orders from states around the country. As CollisionWeek reported on April 3, weekly fuel consumption declined substantially in the second half of March […]