February 22, 2011
Allstate Corp. sued Citigroup Inc. and Deutsche Bank AG, accusing the banks of causing losses by hiding the risks on more than $385 million of mortgage securities it bought. Allstate, the largest publicly traded U.S. home and auto insurer, has …
February 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 business. As part of this transaction, approximately $1 billion in the …
February 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 more than 80 licensed sales …
February 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 to $518 million in the fourth quarter …
February 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 of Allstate Bank and the two have entered …
February 9, 2011
In Chester County, South Carolina, off a dirt road in the middle of a field, insurance companies are literally unleashing a storm. To simulate hurricane-like conditions, an industry group has built a wind tunnel big enough to accommodate nine large …