Carriers are starting to report their pretax catastrophe loss estimates for the 2021 first quarter, and the numbers are significant. Below are preliminary numbers from Allstate, Arch, AXIS, and The Hanover. *** The Allstate Corp. said it had nearly $1.7 …
The COVID-19 shutdowns that swept the U.S. have been a boon for a newer auto-insurance product: pay-per-mile coverage. During the pandemic, Allstate Corp. has seen interest surge in its Milewise offering, which lets customers pay auto-insurance premiums for just the …
Insurer Allstate reported improved auto underwriting results and strong investment returns for the fourth quarter 2020. Net income was up 52% to $2.6 billion for the quarter compared to net income of $1.7 billion in the same quarter in 2019. …
The Allstate Corp. is selling Allstate Life Insurance Co. to entities managed by investment firm Blackstone for $2.8 billion. Explaining the move from Allstate’s perspective, Allstate CEO Tom Wilson referred to a strategy to grow market share in personal lines …
Insurers pummeled by the pandemic are looking to deals as they race to see who’ll emerge strongest when the outbreak subsides. The takeover of RSA Insurance Group Plc and Allstate Corp.’s largest acquisition ever have helped push industry deals announced …
The Allstate Corp. reported a 26.7% increase in its third quarter net income, primarily due to higher auto insurance underwriting income and net realized capital gains. Allstate’s third quarter net income able to common shareholders was $1.13 billion, or $3.58 …
The Indiana Supreme Court has ruled that Allstate must pay $25,000 in uninsured motorist benefits to the estranged husband of a woman who died while riding as a passenger in a car crash after moving back in with her parents. …
A new carrier has joined the rideshare insurance market, offering coverage to Lyft drivers in 11 states. At the same time, ridesharing firm Lyft’s drivers now also have access to coverage from Allstate and Liberty Mutual in a handful of …
The Allstate Corp. said it will cut approximately 3,800 jobs in claims, sales, service and support functions as part of its continuing plan to grow its property/casualty market share. The layoffs will affect about eight percent of the insurer’s 45,780 …
U.S. Insurer Allstate Corp. said on Tuesday it will buy National General Holdings Corp. for about $4 billion in cash, scaling up its auto insurance business at a time when the coronavirus has crushed traffic on roads and reduced claims. …
