Latest Allstate Headlines
All the headlines from our Allstate Topic Page, ordered by recency.
Allstate to Exit Banking Business
Feb 21 2011 // The Allstate Corp., the nation’s largest publicly held personal lines insurer, is getting out of the banking business. Discover Bank, a division of Discover Financial Services, is purchasing the $1.1 billion deposits...
Allstate Sues JPMorgan Over Mortgage Securities Losses
Feb 17 2011 // Allstate Corp. sued JPMorgan Chase & Co. on Wednesday to recover losses after the bank allegedly misrepresented the risks on more than $757 million of mortgage securities the insurer bought. The lawsuit against the...
Ratings Roundup: Allstate (bank), Queen City, Sutter, Auto Club (Michigan)
Feb 11 2011 // Standard & Poor’s Ratings Services announced that its ratings on Allstate Corp. (A-/Stable/A-2) and its operating subsidiaries “are not affected by the announcement that Allstate is exiting the banking...
Allstate To Appoint 54 Agency Owners in Colorado
Feb 10 2011 // To increase presence in the Colorado marketplace, Allstate Insurance Co. announced it plans to appoint 54 Colorado agency owners by the end of 2011. Allstate’s new and existing agencies in the state will also hire...
Allstate Profit Falls as Auto, Catastrophe Claims Rise
Feb 10 2011 // Allstate Insurance net income fell 43 percent in the fourth quarter as rising claims from auto insurance customers and catastrophes took their toll. Allstate’s fourth quarter 2010 net profit was $296 million compared...
Allstate to Exit Banking Business
Feb 9 2011 // The Allstate Corp., the nation’s largest publicly held personal lines insurer, is getting out of the banking business. Discover Bank, a division of Discover Financial Services, is purchasing the $1.1 billion deposits...
Ratings Recap: Berkley National, Allstate (NJ), Preferred Physicians
Jan 24 2011 // A.M. Best Co. has commented that the financial strength rating of ‘A+’ (Superior) and issuer credit rating of “aa-” of Iowa-based Berkley National Insurance Company are unchanged following internal...
Allstate Phases Out Your Choice Auto Program in California
Jan 24 2011 // Allstate Insurance has agreed to stop selling its “Your Choice Auto” (YCA) insurance program in California, in response to a challenge brought by the nonprofit Consumer Watchdog. The insurer has stopped issuing...
Allstate Phases Out Your Choice Auto Program in California
Jan 11 2011 // Allstate Insurance has agreed to stop selling “Your Choice Auto” (YCA) insurance program in California, in response to a challenge brought by the nonprofit Consumer Watchdog. The company has stopped issuing new...
Allstate Sues More New York Medical Firms
Dec 29 2010 // Allstate has filed its seventh lawsuit this year against what it says are medical corporations committing fraud in New York State. The $1.9 million suit claims that three medical corporations in the state were owned and...
Ratings Recap: Allianz Global (US), Balboa Group, North Light, Heritage
Dec 28 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A+’ (Superior) and issuer credit ratings of “aa” of Allianz Global Corporate & Specialty North America (AGCS NA), which includes...
Allstate Sues Bank of America Over Countrywide Mortgage Losses
Dec 28 2010 // Allstate Corp. has sued Bank of America Corp., its Countrywide lending unit and 17 other defendants for allegedly misrepresenting the risks on more than $700 million of mortgage securities it bought from...
Allstate Raises Homeowner Insurance Rates
Dec 16 2010 // Allstate Insurance has notified the Texas Department of Insurance that it will increase homeowner rates — some by almost 10 percent. About 450,000 homeowners covered by Allstate Texas Lloyds will see a rate increase...
Best Affirms Allstate and Subsidiaries ‘A+’ Ratings; Outlook Stable
Dec 16 2010 // A.M. Best Co. has affirmed the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Allstate Insurance Group and its members. Best also affirmed the ICR of...
Dec. 15 Most Dangerous Day for California Drivers
Dec 14 2010 // More Californians crash their cars on December 15 than any other day of the year, according to an Allstate Insurance Co. review of its California auto insurance claims over the past four years. The number of accident...
Allstate Cuts California Renter’s Rates 19.6%
Nov 29 2010 // Allstate Insurance Co. announced it is dropping the price California consumers pay for renter’s insurance coverage 19.6 percent statewide. The company is also cutting condo insurance rates in California 6 percent....
It Figures
Nov 14 2010 // $2.4 Billion American International Group, Inc. (AIG) reported a net loss of $2.4 billion for the third quarter of 2010, compared to net income of $455 million in the third quarter last year. The loss was attributable to...
Allstate, Prudential Return Cash to Investors
Nov 10 2010 // Insurers Allstate Corp. and Prudential Financial announced plans to return cash to shareholders Tuesday with a stock buyback plan and dividend increase, respectively. Prudential’s board approved a 64 percent increase...
Allstate to Fight Denial of Mississippi Rate Hike
Nov 10 2010 // Allstate Property and Casualty Insurance Co. wants a public hearing on the Mississippi Insurance Commissioner Mike Chaney’s denial of its request for a 44 percent home insurance rate hike. The company also wants...
It Figures
Nov 1 2010 // $220 Million Estimated 2010 storm losses in Kansas climbed to $220 million as of the end of August, according to the Kansas Department of Insurance. There were approximately 59,400 storm claims filed during the same...
