Allstate to Sell Life Insurance Company to Blackstone for $2.8B to Grow in P/C

By | January 27, 2021

  • January 27, 2021 at 9:46 am
    Tiger88 says:
    Like or Dislike:
    Thumb up 3
    Thumb down 0

    Very interesting move…

  • January 27, 2021 at 1:39 pm
    Desperate act says:
    Well-loved. Like or Dislike:
    Thumb up 14
    Thumb down 2

    Another example upper management shows it’s desperately trying to cover their mistakes by making “changes”. For years they shoved life insurance sales down their agents throats, now they do a 180 and sell their life insurance business. Newsflash to management “You can’t grow your top line by cutting renewal commissions, which lowers agency market value and discourages them from growing their book. No matter how you spin it as a “shift” in commission it demoralizes your sale force. Good luck recruiting new agents and/or competing directly with Progressive and Geico as an internet/service model organization.

  • January 27, 2021 at 2:12 pm
    Correction Needed says:
    Like or Dislike:
    Thumb up 2
    Thumb down 1

    The headline states $2.8M while the article states $2.8B.

  • January 27, 2021 at 10:42 pm
    knowall says:
    Like or Dislike:
    Thumb up 4
    Thumb down 0

    Confusing, because the common theory is the more lines you have in a household the longer they stay with you on the bread and butter auto and home, and commercial policies.

  • January 29, 2021 at 10:31 am
    Tom Walsh says:
    Like or Dislike:
    Thumb up 2
    Thumb down 1

    I wonder if this means that Allstate will now be selling life and annuity products through Blackstone?

  • March 23, 2021 at 6:44 pm
    Desperate act II says:
    Like or Dislike:
    Thumb up 1
    Thumb down 0

    To try to cover the horrible retention for sake of stockholders. Allstate has made it clear that they will change the path to try to fill the gaps or losses. They had the last real agent book sales right before the pandemic. When you desert your home policies and life policies just to try to “be like them auto growth” and forget your roots, it’s not a good sign.

Add a Comment

Your email address will not be published. Required fields are marked *