Latest Allstate Headlines
All the headlines from our Allstate Topic Page, ordered by recency.
Allstate CEO Sees Untapped Opportunity in Direct-to-Consumer Homeowners Market
Mar 6 2023 // 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...
Allstate’s Plan to Return to Profit in Auto
Feb 20 2023 // 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...
Allstate: $307M in January Cat Losses and Keeps the Auto Rate Hikes Coming
Feb 17 2023 // 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...
Why Not Go Direct on Homeowners, Allstate CEO Asks
Feb 15 2023 // 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...
Allstate’s Plan to Return to Profit in Auto
Feb 6 2023 // 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...
Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes
Feb 2 2023 // 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...
Allstate’s Castle Key Plans to Drop 33,000 Condo Policies in Florida
Jan 30 2023 // At least one of Allstate Insurance group’s Florida subsidiaries plans to non-renew 33,000 Florida condominium policies, starting in June. In a notice sent to Florida agents this month, Allstate said its Castle Key...
Laid Off Tech Workers Are About to Get Help—From Allstate
Jan 23 2023 // Allstate Corp. plans to tap the pool of recently fired tech workers to help the insurer overhaul its business. The company—best known for auto and home policies—is investing in technology including artificial...
Allstate Readies Investors for Q4 Loss of Up to $335M
Jan 19 2023 // Allstate Corp. on Wednesday said it expects to end 2022 in the red with a net loss of between $285 million and $335 million for the fourth quarter, and a combined ratio of 109.1. Estimated adjusted net loss for the quarter...
Allstate Commits to 2030 Net Zero Emissions Goal
Dec 28 2022 // 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...
State Farm Will Start Hiking Auto Rates, Allstate CEO Predicts
Dec 9 2022 // 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...
Allstate in Talks to Return Headquarters to Chicago From Suburbs
Nov 7 2022 // 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...
Allstate Q3 Net Income in the Red; Continues Efforts to ‘Restore Property-Liability Margins’
Nov 3 2022 // 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...
Allstate Expects Q3 Net Loss Up to $725M; Ian Caused $366M Net Loss
Oct 19 2022 // Allstate Corp said it expects to report a third quarter net loss of of between $675 million and $725 million with pre-tax catastrophe losses, net of reinsurance, of $763 million. Catastrophe losses net of reinsurance for...
Auto Loss Costs Not Coming Down; Bigger Rate Hikes Ahead: Allstate CEO
Sep 20 2022 // Higher auto loss costs are here to stay, according to the leader of Allstate, who also said that his company will be pushing up auto insurance prices higher, and at a faster pace, for the balance of the year. Speaking at...
Georgia Insurance Commissioner Slams Allstate’s 25% Auto Rate Increase
Aug 22 2022 // The Georgia insurance commissioner is publicly shaming one of the country’s largest auto insurers after the carrier announced an average 25% rate increase in the state. “I am angry and disappointed that...
Allstate Executives Shuffle With Retirement of Property-Liability President
Aug 19 2022 // Allstate announced August 18 that Glenn Shapiro, president, Property-Liability, has decided to retire at the end of September. He joined Allstate as chief claims officer in 2016 and has held his current position since...
Allstate ‘Further Accelerating’ Rate Hikes Following Q2 Loss
Aug 4 2022 // Allstate Corp. said it is accelerating its plan to increase auto insurance rates as it reported unprofitable results for the second quarter. Allstate booked a net loss of $1.04 billion in the second quarter compared with a...
Allstate Outlines ‘Surgical’ Auto Rate Hikes to Combat Inflation
May 6 2022 // Rate increases in Allstate’s auto insurance business are in integral part of the insurer’s overall plan to address the impact of inflation. Wednesday during a conference call with analysts to discuss...
Allstate Q1 Net Income Returns to Black Despite Adverse Auto Results
May 4 2022 // First quarter 2022 insurance premiums earned grew 6.5% to about $11 billion at Allstate Corp., as net income was $630 million compared with a loss of about $1.4 billion during the first three months of 2021. Tom Wilson CEO...
