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 […]
Allstate Reports Fourth Quarter Revenue Up 21% Compared to 2018
The Allstate Corporation (NYSE:ALL) reported total revenue of $11.47 billion in the fourth quarter of 2019 up 21.0% compared to the prior year quarter. Property-Liability insurance premiums earned increased by 5.4%. Allstate brand auto insurance net written premium grew 3.8%, and policies in force increased 1.5% in the fourth quarter of 2019 compared to the […]
Allstate Announces Esurance Brand Will Be Retired in 2020 as Part of Growth Plan
The Allstate Corporation (NYSE: ALL) announced a new growth plan that leverages the Allstate brand, people and technology to accelerate growth in its personal property-liability business. Allstate, the fourth largest private passenger automobile insurer in the U.S. by premiums written in 2018, has seen its share of the auto market share decline in recent years. […]
Allstate Ranks Safest Driving Cities When Factoring Population Density
Insurer announces $150,000 in grants for safety improvements on 15 Risky Roads. Drivers in Boise, Idaho, are the country’s safest when taking into account population density, according to the newest set of rankings from the 2019 Allstate America’s Best Drivers Report. Understanding there are many factors that contribute to car crashes, including number of cars […]