Allstate to Buy National General for $4 Billion, Growing Auto, Independent Agent Business

July 8, 2020

  • July 8, 2020 at 10:55 am
    andy turner says:
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    is there any indication as to when the National General shareholders will receive their buyout?

  • July 8, 2020 at 2:03 pm
    Tiger88 says:
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    Allstate….trying to look be Progressive maybe? Direct writer (Allstate), Online (Esurance), Independent (Encompass-Nat Gen)?

    • July 13, 2020 at 10:35 am
      llcj says:
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      didn’t they shut esurance down?

      • July 13, 2020 at 2:12 pm
        Kirkpatrik Gilmore III says:
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        Esurance was simply absorbed. They are all still employed and running just like before. Nothing was closed.

  • July 8, 2020 at 2:51 pm
    TX Agent says:
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    Looks like Karfunkel family getting out of insurance (outside of Am Trust). Will independants now have access to Allstate?

    • July 20, 2020 at 10:10 am
      Baron Harkonnen says:
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      Is AmTrust even insurance? When i was there, they bragged internally that they were a tech company that did insurance on the side. Problem was, the tech was horrible too. since going private, I’m sure things are better….

  • July 8, 2020 at 3:22 pm
    Big Tex Ins Agent says:
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    And will independent agents with current Allstate appointments have access to Nat Gen?

  • July 8, 2020 at 5:16 pm
    ralph says:
    Hot debate. What do you think?
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    two awful companies teaming up

  • July 10, 2020 at 4:17 pm
    agent14 says:
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    Many Texas Independent agents have already had access to Allstate, Encompass, and National General. I am one of them, and I am sure there are many others.

    • July 11, 2020 at 2:50 am
      okt0ber says:
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      I haven’t seen an Emcompass policy in years. I know they exist, and they used to be really good, but Allstate had no idea how to manage that business. They put it into a death spiral with repeated rate increases to the point where they were adversely selected to death. Most independent agents that have Allstate brand appointments don’t bother with them because of poor technology compared to other big independent companies. We’ll see how NatGen goes… If Allstate’s management in Chicago keep their Good Hands from micromanaging, it might work. But I don’t expect that. Tom Wilson has overseen years of market share losses because he has made poor business decision after poor business decision, sprinkled in between knee jerk short term decisions that ran off tenured customers. Geico and Progressive are now reaping those profits, which Allstate’s management spent 20 years saying “Geico will have to raise rates eventually”. They did, but Allstate outdid them over and over. Wilson is stubborn and anyone who disagrees with him will be dismissed. The entire management structure at Allstate reflects this philosophy. Fresh ideas and constructive criticism are not at all welcome anywhere within Allstate Corp. My prediction is that after a year or so, Tom Wilson will replace the NatGen management team with his “yes men”, and we’ll have an Emcompass sequel to watch.

  • July 11, 2020 at 2:53 am
    Badger says:
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    I haven’t seen an Emcompass policy in years. I know they exist, and they used to be really good, but Allstate had no idea how to manage that business. They put it into a death spiral with repeated rate increases to the point where they were adversely selected to death. Most independent agents that have Allstate brand appointments don’t bother with them because of poor technology compared to other big independent companies. We’ll see how NatGen goes… If Allstate’s management in Chicago keep their Good Hands from micromanaging, it might work. But I don’t expect that. Tom Wilson has overseen years of market share losses because he has made poor business decision after poor business decision, sprinkled in between knee jerk short term decisions that ran off tenured customers. Geico and Progressive are now reaping those profits, which Allstate’s management spent 20 years saying “Geico will have to raise rates eventually”. They did, but Allstate outdid them over and over. Wilson is stubborn and anyone who disagrees with him will be dismissed. The entire management structure at Allstate reflects this philosophy. Fresh ideas and constructive criticism are not at all welcome anywhere within Allstate Corp.

    • July 13, 2020 at 9:14 pm
      Buckeye says:
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      Who do you see as the national carriers winning in the IA space? Who has reasonable technology, price, and management competence to support the agent channel?

      • July 17, 2020 at 8:51 pm
        badger says:
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        Progressive is the obvious standout answer, but Safeco/Liberty is up there, too. Numerous Super Regionals across the country. Nationwide is an IA company, now, though their rates aren’t exactly competitive in a lot of areas.

    • July 17, 2020 at 7:35 am
      knowall says:
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      This sounds a lot like how Farmers was run in the late 90’s early 2000’s – just drive a good thriving company into the ground by ignoring the competitive pressures. Executives saving their jobs at the cost of policy holders and employees and agents.



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