The AM Best financial rating firm’s tepid outlook for Allstate’s Florida subsidiaries, Castle Key Insurance Co. and Castle Key Indemnity Co., has raised new questions about the subsidiaries’ and their parent company’s financial picture. AM Best last week posted a …
Allstate Corp. said it estimated catastrophe losses for the month of January of $307 million, or $243 million after-tax from nine events primarily in Texas and California. Catastrophe losses for the January events were estimated at $309 million, partially offset …
When Allstate’s chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of the homeowners insurance market—customers that will buy home insurance online. Speaking at the Bank of America U.S. Insurance Conference yesterday, …
Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company’s number one priority: improve margins. Allstate ended 2022 with an unprofitable 110.1 combined ratio in auto – 112.6 for the …
As it had warned last month, Allstate Corp. reported a fourth quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue. Results were in comparison to net income of $790 million for Q4 2021. …
Allstate buying office space in downtown Chicago, State Farm suing Tesla over a car fire, and Geico being ordered to settle with a woman who contracted an STD in an insured’s car were some of the most-read stories in Insurance …
Allstate Corporation announced a commitment to achieve net zero emissions for direct, indirect and value-chain greenhouse gas emissions by 2030. In addition, the personal lines giant has set 2025 as the target year for achieving a net zero investment portfolio. …
Allstate’s chief executive officer said his company will likely continue pushing for auto insurance rate hikes next year, and he expects the carrier’s largest mutual competitor—State Farm—to move in the same direction. Speaking at the Goldman Sachs 2022 U.S. Financial …
Allstate Corp. is in talks about moving its headquarters to Chicago after selling the majority of its suburban campus earlier this year, potentially returning to a city that it quit decades ago. The insurer has held discussions with Chicago officials …
Allstate Corp. said it recorded a third quarter net loss applicable to common shareholders of $694 million compared to net income of $508 million a year ago during the same time. Allstate’s Q3 combined ratio was an unprofitable 111.6 – …
