June 2, 2021
Allstate has agreed to acquire Ohio-based SafeAuto, which offers car insurance that meets the minimum legal requirements in 28 states. The acquisition will be through Allstate subsidiary National General and SafeAuto will be integrated into National General’s direct-to-consumer non-standard auto …
April 20, 2021
Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The Allstate Corp. said it had nearly $1.7 …
April 14, 2021
The COVID-19 shutdowns that swept the U.S. have been a boon for a newer auto-insurance product: pay-per-mile coverage. During the pandemic, Allstate Corp. has seen interest surge in its Milewise offering, which lets customers pay auto-insurance premiums for just the …
February 4, 2021
Insurer Allstate reported improved auto underwriting results and strong investment returns for the fourth quarter 2020. Net income was up 52% to $2.6 billion for the quarter compared to net income of $1.7 billion in the same quarter in 2019. …
January 27, 2021
The Allstate Corp. is selling Allstate Life Insurance Co. to entities managed by investment firm Blackstone for $2.8 billion. Explaining the move from Allstate’s perspective, Allstate CEO Tom Wilson referred to a strategy to grow market share in personal lines …
December 10, 2020
Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition ever have helped push industry deals announced …
November 5, 2020
The Allstate Corp. reported a 26.7% increase in its third quarter net income, primarily due to higher auto insurance underwriting income and net realized capital gains. Allstate’s third quarter net income able to common shareholders was $1.13 billion, or $3.58 …
October 14, 2020
The Indiana Supreme Court has ruled that Allstate must pay $25,000 in uninsured motorist benefits to the estranged husband of a woman who died while riding as a passenger in a car crash after moving back in with her parents. …
October 6, 2020
A new carrier has joined the rideshare insurance market, offering coverage to Lyft drivers in 11 states. At the same time, ridesharing firm Lyft’s drivers now also have access to coverage from Allstate and Liberty Mutual in a handful of …
October 1, 2020
The Allstate Corp. said it will cut approximately 3,800 jobs in claims, sales, service and support functions as part of its continuing plan to grow its property/casualty market share. The layoffs will affect about eight percent of the insurer’s 45,780 …