Allstate Results Mixed, Liddy Pay Increased by 14 Percent

March 27, 2001

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.

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