Even as Allstate Corp. awarded its Chief Executive Edward Liddy a 14 percent pay increase last year, the company’s year-end results were mixed. Net profit for the year fell 19 percent to $2.2 billion, largely due to a drop in realized gains from investments. But Allstate’s shares shot up 81 percent in 2000, as investors returned to reliable old-economy stocks and market-watchers forecast an uptick in the price of car and home insurance.
Separately, Liddy made $7 million profit last year from exercising stock options. He stands to make $13 million from current stock options, if Allstate shares continue to grow at 10 percent or more per year.
Was this article valuable?
Here are more articles you may enjoy.
Reinsurers Hold Bulk of Jamaica’s Property Exposures From Hurricane Melissa: Reports 
Brown & Brown Reports Strong Q3 Revenue Growth of 35.4% 
AIG to Acquire Renewal Rights of Everest’s Retail Commercial Business Worth $2B 
Trucking App Trucker Path Launches Retail Insurance Agency From This Issue
