Profile: Allstate Corp (ALL)
23 Sep 2016
The Allstate Corporation, incorporated on November 5, 1992, is a holding company for Allstate Insurance Company. The Company and its subsidiaries, including Allstate Insurance Company, Allstate Life Insurance Company and other subsidiaries (collectively, Allstate) are engaged in the property-liability insurance and life insurance business. It offers its products in the United States and Canada. Allstate operates in four business segments: Allstate Protection, Discontinued Lines and Coverages, Allstate Financial, and Corporate and Other. The Company's principal geographic markets for auto, homeowners, and other personal property and casualty products are in the United States. Through its subsidiaries, it sells a range of personal property and casualty insurance products in approximately 50 states, the District of Columbia and Puerto Rico. It also sells personal property and casualty insurance products in Canada.
In Allstate Protection segment, the Company sells private passenger auto, homeowners and other property-liability insurance products through agencies and directly through contact centers and the Internet. The Company sells these products under the Allstate, Esurance and Encompass brand names. Allstate serves approximately four different consumer segments with distinct interaction preferences (local advice and assistance versus self-directed) and brand preferences (brand-neutral versus brand-sensitive). The Allstate brand sells specialty auto products, including motorcycle, trailer, motor home and off-road vehicle insurance policies; other personal lines products, including renter, condominium, landlord, boat, umbrella and manufactured home insurance policies; commercial lines products for small business owners; roadside assistance products, and service contracts and other products sold in conjunction with auto lending and vehicle sales transactions. In the United States, it offers these Allstate brand products in approximately 10,200 locations through approximately 34,800 licensed producers, including approximately 10,400 Allstate exclusive agencies and approximately 24,400 licensed sales professionals. It also offers these products through approximately 2,100 independent agencies that are primarily in rural areas in the United States. In Canada, it offers Allstate brand products through approximately 850 employee producers working in over five provinces across the country (Ontario, Quebec, Alberta, New Brunswick and Nova Scotia).
The Company's Esurance brand auto, homeowners, renter and motorcycle insurance products are sold directly to consumers online, through contact centers and through select agents, including Answer Financial. Esurance serves self-directed, brand-sensitive customers. Encompass brand auto, homeowners, umbrella and other insurance products, sold predominantly in the form of a single annual household (package) policy, are distributed through independent agencies that serve consumers who prefer personal advice and assistance from an independent adviser and are brand neutral. Encompass brand products are distributed through approximately 2,300 independent agencies. Answer Financial, which is a personal lines insurance agency, serves self-directed, brand-neutral consumers who want a choice between insurance carriers. It offers comparison quotes for auto and homeowners insurance from approximately 25 insurance companies through its Website and over the phone and receives commissions for this service.
The Company's Allstate Financial segment sells life insurance and voluntary accident and health insurance products. The Company sells Allstate Financial products through Allstate exclusive agencies and approximately 1,000 exclusive financial specialists, and over 6,000 workplace enrolling independent agents. Allstate exclusive agencies and exclusive financial specialists also sell non-proprietary retirement and investment products, including mutual funds, fixed and variable annuities, disability insurance and long-term care insurance to provide a suite of protection and retirement products. Allstate exclusive agencies offer products targeted to consumers that prefer local personalized advice and branded products from both the Allstate Protection and Allstate Financial segments. The Company's Discontinued Lines and Coverages segment involves long-tail losses, such as those related to asbestos and environmental claims. Discontinued Lines and Coverages segment includes results from property-liability insurance coverage. Its Corporate and Other segment consists of holding company activities and certain non-insurance operations.
The Company competes with State Farm, Allstate, GEICO, Progressive, Farmers, Liberty Mutual, USAA, Nationwide and Travelers.
2775 Sanders Rd
NORTHBROOK IL 60062-6110
Company Web Links
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- BRIEF-Allstate Corp estimates pre-tax catastrophe losses of $253 mln for July 2016
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- Fitch Affirms Allstate's Long-Term Ratings; Revises ALIC's Outlook to Negative
- BRIEF-Allstate Corp increases size of board to 11 directors - SEC filing