Repairify today announced that Allstate has added asTech as a preferred diagnostic scanning provider for collision centers participating in its Good Hands Repair Network (GHRN). The partnership provides participating GHRN shops with preferred pricing for asTech devices and its menu of market-leading diagnostic services and capabilities. These include remote OEM and OEM compatible diagnostic scanning, […]
Allstate Receives Private Passenger Auto Physical Damage Rate Increase in California
The increase is the first for Allstate in nearly five years and first for the industry in more than two years since the start of the pandemic. On October 30, the California Department of Insurance (CDI) approved Allstate’s request for a 6.9% increase in its personal auto liability and physical damage rates. The CDI has […]
Mario Rizzo Named to Succeed Retiring Glenn Shapiro as President of Property-Liability at Allstate
Jess Merten succeeds Rizzo as Chief Financial Officer. Allstate, the fourth largest private passenger auto insurer in the U.S., announced that Glenn Shapiro, who has led the Property-Liability businesses since 2018, has decided to retire, having led the initiation of Transformative Growth and rapidly adapted to the impacts of inflation on auto insurance margins. Mario […]
Allstate-Brand Auto Rates Raised 8.9% Across Six Markets
Georgia Insurance Commissioner warns of 25% Allstate rate increase coming in September. The Allstate Corporation (NYSE: ALL) provided an update on catastrophe losses and its ongoing program to raise auto insurance rates to address rising costs during July. “Allstate will continue to implement significant rate actions in the second half of 2022 in response to […]
Allstate Announces Revenue of $12.2 Billion in Second Quarter
Cites increasing parts prices, cycle time, and technician shortage driving higher repair costs. “Doubles down” on its relationships with parts suppliers and direct repair program to help control costs. The Allstate Corporation (NYSE: ALL) reported total revenues of $12.2 billion in the second quarter of 2022 decreased 3.4% compared to the prior year quarter as […]
Allstate Reports Auto Physical Damage Loss Cost Increases Widespread Across U.S.
Implements Allstate brand auto insurance rate increases of approximately 8.3% since fourth quarter of 2021. The Allstate Corporation (NYSE: ALL) estimated catastrophe losses for the month of June totaled $356 million or $281 million, after-tax. June catastrophe losses included 10 events, primarily wind and hail in the Midwest, estimated at $315 million, plus unfavorable reserve […]
Allstate Says Collision Data Points to Increasingly Dangerous Roads this Summer
Collision rates could be more than 7% higher in the summer post-pandemic. An analysis by Allstate of proprietary collision data for the five years between 2017 and 2021 reveals that the U.S. is likely to see riskier roadways this summer. Over the past two years, numerous roadway safety organizations, including the National Highway Traffic Safety […]
Allstate and Enterprise Support Schools Through Collision Repair Education Foundation
Collision repair schools in Illinois, Massachusetts and South Carolina benefit from industry support. The Collision Repair Education Foundation (CREF) announced that six schools will receive Collision School Career Readiness Benchmark Grants. Allstate is providing a $10,000 grant to Thornton Fractional High School Center for Academics and Technology, located in Calumet City, Ill., to improve its […]
Allstate to Sell Life Insurance Business for $2.8 Billion to Focus on Personal Property Insurance and Protection Business Growth
The Allstate Corporation (NYSE: ALL) has agreed to sell Allstate Life Insurance Company (ALIC) to entities managed by Blackstone for $2.8 billion. ALIC holds approximately 80% (or $23 billion) of Allstate’s life and annuity reserves and generated net income of $467 million in 2019 and a net loss of $23 million in the first nine […]
Allstate’s Clint Marlow Elected Chairman of National Auto Body Council Board of Directors
At the 2020 National Auto Body Council (NABC) Annual Meeting last week, the non-profit organization held its board elections for the upcoming year. In addition to re-electing three board members whose terms were expiring, it also welcomed four new members to its Board. Active members in attendance at the virtual NABC annual meeting had an […]