Key Developments: Allstate Corp (ALL)
4 Dec 2013
Latest Key Developments (Source: Significant Developments)
The Allstate Corporation announced that Steve Shebik is promoted to chief financial officer. Civgin assumes the leadership responsibilities for Allstate Financial, building on the progress Matt Winter has made over the last three years. Civgin has been chief financial officer since 2009 and has significantly expanded risk management capabilities, proactively managed the Company's capital and led the acquisition of Esurance and Answer Financial. Civgin will continue to oversee the Esurance and Answer Financial management teams. With Civgin's change in roles, Shebik is being promoted to chief financial officer. Shebik will continue efforts to expand risk management functions and effectively manage the Company's capital. He has held senior finance roles in property and casualty, Allstate Financial, investments and treasury areas over the last 16 years. Full Article
The Allstate Corporation announced a quarterly dividend of $0.22 on each outstanding share of the Corporation's common stock, payable in cash on April 2, 2012 to stockholders of record at the close of business on March 5, 2012. This dividend is a 4.8% increase from the dividend declared in the previous quarter. Full Article
Superior Court Of New Jersey Rules In Favor Of The Allstate Corporation In Agency Franchise Lawsuits
The Allstate Corporation announced that the Superior Court of New Jersey has entered judgment in favor of Allstate New Jersey Insurance Company (Allstate New Jersey), a wholly owned subsidiary of Allstate Insurance Company, and dismissed all claims in the franchise lawsuits filed against Allstate New Jersey. Last year, three exclusive agents filed lawsuits seeking to prevent the termination of their agency agreements for failing to meet certain business objectives. They alleged they had franchise relationships with Allstate New Jersey and were protected under the New Jersey Franchise Practices Act. The plaintiffs' application to stop their termination was denied. The court determined that the agents were not franchisees and have no protections under the New Jersey Franchise Practices Act. Full Article
- Allstate Corp , the largest publicly traded home and auto insurer in the United States, reported a higher-than-expected quarterly operating profit as fewer natural disasters helped it earn more premiums.