The Allstate Corporation (NYSE: ALL) is the second-largest personal lines insurer in the United States (behind State Farm) and the largest that is publicly held. The company also has personal lines insurance operations in Canada. Allstate was founded in 1931 as part of Sears, Roebuck and Co., and was spun off in 1993.[3] The company has its headquarters in Northfield Township, Illinois, near Northbrook.[4][5] Its current advertising campaign, in use since 2004, asks, "Are you in good hands?" The corporate spokesperson is Dennis Haysbert.
Allstate sponsors many sporting events, including the Allstate Sugar Bowl, the Allstate 400 at the Brickyard NASCAR race, and the United States Olympic Committee. In 2009, Allstate's total revenue was $32 billion, of which $26.2 billion came from Property Liability.
The Allstate Corporation (Allstate), incorporated on November 5, 1992, is a holding company of Allstate Insurance Company. Allstate’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company. The Company is primarily engaged in the personal property and casualty insurance business, and the life insurance, retirement and investment products business. It conducts its business primarily in the United States. Allstate has four business segments: Allstate Protection, Allstate Financial, Discontinued Lines and Coverages, and Corporate and other. Customers can access Allstate products and services, such as auto insurance and homeowners insurance through more than 13,000 Allstate agencies and financial representatives in the United States and Canada.
As of December 31, 2010, the Company home office complex consisted of several buildings totaling 2.3 million square feet of office space on a 278-acre site. The Company also operates approximately 1,400 administrative, data processing, claims handling and other support facilities in North America. In addition to its home office facilities, 2.3 million square feet are owned and 6.1 million square feet are leased. Outside North America, it leases three properties in Northern Ireland consisting of 130,550 square feet. It also has one lease in London for 3,650 square feet.
Allstate Protection Segment
During the year ended December 31, 2010, Allstate Protection segment accounted for 92% of the Company's consolidated insurance premiums and contract charges. In this segment, the Company sells private passenger auto and homeowners insurance, primarily through agencies. These products are marketed under the Allstate and Encompass brand names. The Allstate Protection segment also includes a separate organization called Emerging Businesses, which consists Business Insurance (commercial products for small business owners), Consumer Household (specialty products, including motorcycle, boat, renters and condominium insurance policies), Allstate Dealer Services (insurance and non-insurance products sold primarily to auto dealers), Allstate Roadside Services (retail and wholesale roadside assistance products) and Ivantage (insurance agency).
The Company participates in the involuntary or shared private passenger auto insurance business. Allstate brand auto and homeowners insurance products are sold through Allstate’s agencies and, to a lesser extent, through independent agencies in areas not served by agencies. Encompass brand auto and homeowners insurance products are sold through independent agencies. In most states, consumers purchase certain Allstate brand personal insurance products, and obtain service, through its direct channel, that includes call centers and the Internet. During 2010, its broad-based network of approximately 11,500 Allstate agencies in approximately 10,850 locations in the United States produced approximately 87% of the Allstate Protection segment's written premiums.
Allstate Financial Segment
Allstate Financial segment provides life insurance, retirement and investment products, and voluntary accident and health insurance products. The Company’s principal products are interest-sensitive, traditional and variable life insurance; fixed annuities, including deferred and immediate, and voluntary accident and health insurance. Its institutional products, which it offers on an opportunistic basis, consist of funding agreements sold to unaffiliated trusts that use them to back medium-term notes issued to institutional and individual investors. Banking products and services has been offered to customers through the Allstate Bank. The Company sells Allstate Financial products to individuals through multiple intermediary distribution channels, including Allstate agencies and financial specialists, independent agents, and specialized structured settlement brokers. Through March 31, 2010, it also sold products through banks and broker-dealers. It sells products through independent agents affiliated with approximately 150 master brokerage agencies.
Other Business Segments
Allstate’s Corporate and Other segment consists of holding company activities and certain non-insurance operations. The Company’s Discontinued Lines and Coverages segment includes results from insurance coverage that it no longer writes and results for certain commercial and other businesses in run-off.
By 1970, there were 6,500 Allstate Insurance agents. That year, Allstate unveiled a mutual fund. In 1972 Allstate entered the mortgage banking business by acquiring National First Corporation. The following year, the company purchased PMI Mortgage Insurance Company, marking its initial entry into that field. Around the same time, Allstate insurance became available through independent agents in rural areas not covered by agents working directly for the company. For 1973, Allstate generated earnings of $203 million, nearly 30 percent of parent company Sears's total.
The 1970s also saw Allstate increase its presence abroad dramatically. In 1975, the company entered the Japanese market through a joint venture (Seibu Allstate Life Insurance Company, Ltd.) and purchased Lippmann & Moens, a group of Dutch insurance operations. The remainder of the decade also included the formation of Tech-Cor, Inc., an auto-body research and reclamation firm, in 1976; the establishment of a Commercial Insurance Division (later called Allstate Business Insurance) to oversee the company's commercial operations in 1978; and the formation of a new wholly owned subsidiary, Northbrook Property and Casualty Insurance Company, in 1978. Allstate Reinsurance Co. Limited, a London Subsidiary of Allstate International, was incorporated in 1978. Two new policies, the Basic Homeowners Policy and the Healthy American Plan (life insurance), were introduced in 1978 and 1979, respectively.
Allstate was the sixth largest insurance group in the United States by 1980. At that time, the company was operating four zone offices, 31 regional offices, 219 claim-service offices, 687 automobile damage inspection stations, and 2,720 sales/service centers. For 1980, the company reported $450 million in net income on revenue of $6.2 billion, as well as assets of $10.5 billion and 40,000 employees. In 1981, two Dean Witter Reynolds insurance companies, Surety Life Insurance Company and Lincoln Benefit Life Company, became part of the Allstate Life Insurance group. Allstate, Dean Witter, and Coldwell Banker joined forces the following year to form the Sears Financial Network, first appearing in eight Sears stores and later expanding to many other locations.
Donald F. Craib, Jr., was named chairman of the board at Allstate in 1982. Under Craib, a major reorganization of Allstate's corporate structure was initiated. The "New Perspective," as it was called, entailed the elimination of zone offices, as well as other streamlining and decentralizing moves. A new, more flexible life insurance plan, the Universal Life policy, was also unveiled that year. By the end of 1983, Allstate's claim staff consisted of 12,500 employees, the largest force in the industry.
In 1985, Allstate rolled out its Neighborhood Office Agent (NOA) program. In its first year, the NOA program placed 1,582 agents in 944 locations. The following year, the company launched an extensive $30 million advertising campaign that included nine new television commercials and the creation of a new tag line: "Leave It to the Good Hands People." The campaign, which extended to print and radio as well, emphasized family protection. For 1986, the company reported income of over $750 million on revenue of $12.64 billion.
A number of business insurance developments took place at Allstate in 1987. First, the company's Commercial Insurance Division and Reinsurance operation were combined under the Business Insurance umbrella. In addition, two new programs were launched in that area. The "Topflight" program created special ties between the company's Northbrook subsidiary and certain independent agents. The STAR-PAK program offered a new business package policy that provided special services such as the delivery of price quotes within five hours. Allstate also launched the Allstate Advantage Program, a three-tiered rating system for auto insurance, in 1987. A new board chairman and chief executive officer, Wayne E. Hedien, was named in 1989.
Throughout the 1980s, the company had grown at a rate that could not be supported by its profits. It had roughly doubled its premiums during the decade, but in doing so it had burdened itself with a large number of high-risk policyholders. This growth had increased the company's costs both in terms of claims payouts and regular operating expenses. Meanwhile, the company also had to contend with customer backlash against insurance rates, including an ongoing court battle in California involving the 1988 passage of Proposition 103, which called for a rollback on premium rates. Allstate's income shrank from $946 million in 1987 to $701 million in 1990. Resolving Proposition 103 issues put some major concerns behind the company.
The 1990s: Natural Disasters and Spinoff from Sears
After a solid year in 1991, Allstate suffered losses from Hurricane Andrew in 1992 that obscured an otherwise outstanding year for the company. This natural disaster led to a net loss of $825 million for the year. Subsequently, an insurance crisis developed in Florida. The legislature was unable to enact a solution the following spring, and Allstate announced a plan to not renew some 300,000 Florida property customers living in high hurricane risk areas. A state-mandated moratorium on nonrenewals was imposed until November 15, 1993. On November 9, 1993, the Florida Legislature approved a catastrophe fund bill designed to protect insurance consumers and the insurance industry from the financial devastation caused by severe hurricanes. The bill enabled Allstate to renew about 97 percent of its Florida property customers in 1994.
In June 1993, 20 percent of Allstate was offered to the public. The offering was an extraordinary success, generating $2.4 billion in capital. That sum was the largest ever raised in an initial public offering in the United States. The separation of Allstate from Sears was part of Sears's new focus on its traditional business of merchandising. With newly found financial strength from the successful public offering, Allstate posted impressive numbers for 1993: a record net income of $1.3 billion on revenue of $20.9 billion.
A dip in profits followed in 1994, however, in the wake of another natural disaster which involved massive claims against Allstate. The Northridge, California earthquake, which struck in January, resulted in claims totaling over $1 billion. In its wake, as had happened following Hurricane Andrew, Allstate (and most other insurers) attempted to stop writing policies for homeowners' insurance in the state, and California eventually passed legislation creating a state Earthquake Authority to help pay future catastrophe claims.
Allstate became completely independent in June 1995, when Sears gave up its 80 percent stake in the company, distributing 350.5 million shares of Allstate stock to its own stockholders. Allstate also streamlined its operations, selling off the PMI Mortgage Insurance subsidiary to raise funds for corporate growth. A smaller hurricane in 1995, Opal, resulted in a more manageable amount of damage than Andrew, and the company's yearly totals were a record-setting $22.8 billion in revenues and $1.9 billion in income.
Concurrent with the positives of Allstate's independence and financial success, controversies were surfacing on a number of fronts. In Texas, the company's use of Allstate-run law firms to represent claimants in court was being examined, while in California Allstate was accused of falsifying engineering reports to minimize earthquake damage claims. In several other states, attorneys general were investigating allegations that the company was overcharging single car owners for auto insurance. Additional states were examining the practice of mailing out pamphlets to auto accident claimants which attempted to dissuade them from consulting an attorney. The company fought these and all such actions vigorously. Allstate, along with a number of other insurance carriers, was also accused of "redlining," or denying insurance to inner city and minority homeowners. In this case, the company announced it was making changes to its policy guidelines which would improve the opportunity for such customers to obtain in surance.
Strong years were again seen in 1996 and 1997, with record revenues and income posted in each. The company began trying new methods of insurance sales, using more independent agents and exploring the possibility of telephone or Internet sales. This was a delicate subject, as the 15,000 plus traditional full-time company agents were strongly opposed to such competition. Allstate also divested itself of several smaller subsidiaries and finished selling off its real estate holdings, a move which had been started in 1991. In late 1998 the company founded a bank, Allstate Federal, which it began to use to handle many of the company's own financial transactions.
In January 1999, a new CEO was installed, Edward M. Liddy. Liddy had been with Allstate only five years, following a longer stretch with Sears, but had quickly moved into the positions of president and COO, and was expected to closely follow the pattern set by his predecessor Jerry Choate. As the company approached the year 2000, it was as strong as it had ever been, and appeared likely to continue in that position for some time to come.
Principal Subsidiaries: Allstate Insurance Company; Allstate Life Insurance Company; Allstate Indemnity Company; Allstate County Mutual Insurance Company; Allstate Holdings, Inc.; Allstate International, Inc.; Allstate New Jersey Holdings, Inc.; Allstate Property and Casualty Insurance Company; Allstate Texas Lloyd's, Inc.; Deerbrook Insurance Company; Forestview Mortgage Insurance Company; Pinebrook Mortgage Insurance Company.
Principal Operating Units: Property-Liability; Life and Annuity; Investments.
OVERALL
Beta: 1.49
Market Cap (Mil.): $17,655.16
Shares Outstanding (Mil.): 522.96
Annual Dividend: 0.84
Yield (%): 2.49
FINANCIALS
ALL Industry Sector
P/E (TTM): 13.71 2.84 17.32
EPS (TTM): 6.81 -- --
ROI: -- 0.08 4.63
ROE: 7.20 1.73 9.08
Statistics:
Public Company
Incorporated: 1931 as Allstate Insurance Company
Employees: 51,400
Total Assets: $80.91 billion (1997)
Stock Exchanges: New York Chicago
Ticker Symbol: ALL
SICs: 6311 Life Insurance; 6331 Fire, Marine & Casualty Insurance; 6351 Surety Insurance; 6371 Pension, Health & Welfare Funds; 6719 Holding Companies, Not Elsewhere Classified
Name Age Since Current Position
Wilson, Thomas 53 2008 Chairman of the Board, President, CEO; Chairman of the Board, President, CEO of AIC
Civgin, Don 49 2008 Chief Financial Officer, Senior Vice President
Brune, Catherine 57 2011 President - Allstate Protection, South Region
Winter, Matthew 54 2009 President and Chief Executive Officer - Allstate Financial, Senior Vice President of AIC
Lacher, Joseph 41 2009 President of Allstate Protection, Senior Vice President of AIC
Gupta, Suren 50 2011 Executive Vice President - Technology & Operations
Mayes, Michele 61 2007 Senior Vice President, General Counsel; SVP, General Counsel, Chief Legal Officer of AIC
Pilch, Samuel 64 2008 Controller; Group Vice President and Controller of AIC
Walker, Joan 63 2009 Senior Vice President of AIC, Corporate Relations
Roche, Michael 59 2007 Senior Vice President of AIC (Claim)
Sorenson, Steven 46 2007 Senior Vice President - AIC (Allstate Protection Product Operations)
DeVries, James 47 2008 Senior Vice President - Human Resources of AIC
Greffin, Judith 50 2008 Senior Vice President and Chief Investment Officer of AIC
LaNeve, Mark 51 2009 Senior Vice President, Chief Marketing Officer of AIC
Redmond, Andrea 55 2010 Director
Smith, Joshua 70 1997 Independent Director
Taylor, Mary 61 2000 Independent Director
Farrell, W. James 68 1999 Independent Director
LeMay, Ronald 66 1999 Independent Director
Riley, H. John 70 1998 Independent Director
Ackerman, F. Duane 68 1999 Independent Director
Sprieser, Judith 57 1999 Independent Director
Greenberg, Jack 68 2002 Independent Director
Beyer, Robert 51 2006 Independent Director
Address:
Allstate Plaza
2775 Sanders Road
Northbrook, Illinois 60062
U.S.A.
Allstate sponsors many sporting events, including the Allstate Sugar Bowl, the Allstate 400 at the Brickyard NASCAR race, and the United States Olympic Committee. In 2009, Allstate's total revenue was $32 billion, of which $26.2 billion came from Property Liability.
The Allstate Corporation (Allstate), incorporated on November 5, 1992, is a holding company of Allstate Insurance Company. Allstate’s business is conducted principally through Allstate Insurance Company, Allstate Life Insurance Company. The Company is primarily engaged in the personal property and casualty insurance business, and the life insurance, retirement and investment products business. It conducts its business primarily in the United States. Allstate has four business segments: Allstate Protection, Allstate Financial, Discontinued Lines and Coverages, and Corporate and other. Customers can access Allstate products and services, such as auto insurance and homeowners insurance through more than 13,000 Allstate agencies and financial representatives in the United States and Canada.
As of December 31, 2010, the Company home office complex consisted of several buildings totaling 2.3 million square feet of office space on a 278-acre site. The Company also operates approximately 1,400 administrative, data processing, claims handling and other support facilities in North America. In addition to its home office facilities, 2.3 million square feet are owned and 6.1 million square feet are leased. Outside North America, it leases three properties in Northern Ireland consisting of 130,550 square feet. It also has one lease in London for 3,650 square feet.
Allstate Protection Segment
During the year ended December 31, 2010, Allstate Protection segment accounted for 92% of the Company's consolidated insurance premiums and contract charges. In this segment, the Company sells private passenger auto and homeowners insurance, primarily through agencies. These products are marketed under the Allstate and Encompass brand names. The Allstate Protection segment also includes a separate organization called Emerging Businesses, which consists Business Insurance (commercial products for small business owners), Consumer Household (specialty products, including motorcycle, boat, renters and condominium insurance policies), Allstate Dealer Services (insurance and non-insurance products sold primarily to auto dealers), Allstate Roadside Services (retail and wholesale roadside assistance products) and Ivantage (insurance agency).
The Company participates in the involuntary or shared private passenger auto insurance business. Allstate brand auto and homeowners insurance products are sold through Allstate’s agencies and, to a lesser extent, through independent agencies in areas not served by agencies. Encompass brand auto and homeowners insurance products are sold through independent agencies. In most states, consumers purchase certain Allstate brand personal insurance products, and obtain service, through its direct channel, that includes call centers and the Internet. During 2010, its broad-based network of approximately 11,500 Allstate agencies in approximately 10,850 locations in the United States produced approximately 87% of the Allstate Protection segment's written premiums.
Allstate Financial Segment
Allstate Financial segment provides life insurance, retirement and investment products, and voluntary accident and health insurance products. The Company’s principal products are interest-sensitive, traditional and variable life insurance; fixed annuities, including deferred and immediate, and voluntary accident and health insurance. Its institutional products, which it offers on an opportunistic basis, consist of funding agreements sold to unaffiliated trusts that use them to back medium-term notes issued to institutional and individual investors. Banking products and services has been offered to customers through the Allstate Bank. The Company sells Allstate Financial products to individuals through multiple intermediary distribution channels, including Allstate agencies and financial specialists, independent agents, and specialized structured settlement brokers. Through March 31, 2010, it also sold products through banks and broker-dealers. It sells products through independent agents affiliated with approximately 150 master brokerage agencies.
Other Business Segments
Allstate’s Corporate and Other segment consists of holding company activities and certain non-insurance operations. The Company’s Discontinued Lines and Coverages segment includes results from insurance coverage that it no longer writes and results for certain commercial and other businesses in run-off.
By 1970, there were 6,500 Allstate Insurance agents. That year, Allstate unveiled a mutual fund. In 1972 Allstate entered the mortgage banking business by acquiring National First Corporation. The following year, the company purchased PMI Mortgage Insurance Company, marking its initial entry into that field. Around the same time, Allstate insurance became available through independent agents in rural areas not covered by agents working directly for the company. For 1973, Allstate generated earnings of $203 million, nearly 30 percent of parent company Sears's total.
The 1970s also saw Allstate increase its presence abroad dramatically. In 1975, the company entered the Japanese market through a joint venture (Seibu Allstate Life Insurance Company, Ltd.) and purchased Lippmann & Moens, a group of Dutch insurance operations. The remainder of the decade also included the formation of Tech-Cor, Inc., an auto-body research and reclamation firm, in 1976; the establishment of a Commercial Insurance Division (later called Allstate Business Insurance) to oversee the company's commercial operations in 1978; and the formation of a new wholly owned subsidiary, Northbrook Property and Casualty Insurance Company, in 1978. Allstate Reinsurance Co. Limited, a London Subsidiary of Allstate International, was incorporated in 1978. Two new policies, the Basic Homeowners Policy and the Healthy American Plan (life insurance), were introduced in 1978 and 1979, respectively.
Allstate was the sixth largest insurance group in the United States by 1980. At that time, the company was operating four zone offices, 31 regional offices, 219 claim-service offices, 687 automobile damage inspection stations, and 2,720 sales/service centers. For 1980, the company reported $450 million in net income on revenue of $6.2 billion, as well as assets of $10.5 billion and 40,000 employees. In 1981, two Dean Witter Reynolds insurance companies, Surety Life Insurance Company and Lincoln Benefit Life Company, became part of the Allstate Life Insurance group. Allstate, Dean Witter, and Coldwell Banker joined forces the following year to form the Sears Financial Network, first appearing in eight Sears stores and later expanding to many other locations.
Donald F. Craib, Jr., was named chairman of the board at Allstate in 1982. Under Craib, a major reorganization of Allstate's corporate structure was initiated. The "New Perspective," as it was called, entailed the elimination of zone offices, as well as other streamlining and decentralizing moves. A new, more flexible life insurance plan, the Universal Life policy, was also unveiled that year. By the end of 1983, Allstate's claim staff consisted of 12,500 employees, the largest force in the industry.
In 1985, Allstate rolled out its Neighborhood Office Agent (NOA) program. In its first year, the NOA program placed 1,582 agents in 944 locations. The following year, the company launched an extensive $30 million advertising campaign that included nine new television commercials and the creation of a new tag line: "Leave It to the Good Hands People." The campaign, which extended to print and radio as well, emphasized family protection. For 1986, the company reported income of over $750 million on revenue of $12.64 billion.
A number of business insurance developments took place at Allstate in 1987. First, the company's Commercial Insurance Division and Reinsurance operation were combined under the Business Insurance umbrella. In addition, two new programs were launched in that area. The "Topflight" program created special ties between the company's Northbrook subsidiary and certain independent agents. The STAR-PAK program offered a new business package policy that provided special services such as the delivery of price quotes within five hours. Allstate also launched the Allstate Advantage Program, a three-tiered rating system for auto insurance, in 1987. A new board chairman and chief executive officer, Wayne E. Hedien, was named in 1989.
Throughout the 1980s, the company had grown at a rate that could not be supported by its profits. It had roughly doubled its premiums during the decade, but in doing so it had burdened itself with a large number of high-risk policyholders. This growth had increased the company's costs both in terms of claims payouts and regular operating expenses. Meanwhile, the company also had to contend with customer backlash against insurance rates, including an ongoing court battle in California involving the 1988 passage of Proposition 103, which called for a rollback on premium rates. Allstate's income shrank from $946 million in 1987 to $701 million in 1990. Resolving Proposition 103 issues put some major concerns behind the company.
The 1990s: Natural Disasters and Spinoff from Sears
After a solid year in 1991, Allstate suffered losses from Hurricane Andrew in 1992 that obscured an otherwise outstanding year for the company. This natural disaster led to a net loss of $825 million for the year. Subsequently, an insurance crisis developed in Florida. The legislature was unable to enact a solution the following spring, and Allstate announced a plan to not renew some 300,000 Florida property customers living in high hurricane risk areas. A state-mandated moratorium on nonrenewals was imposed until November 15, 1993. On November 9, 1993, the Florida Legislature approved a catastrophe fund bill designed to protect insurance consumers and the insurance industry from the financial devastation caused by severe hurricanes. The bill enabled Allstate to renew about 97 percent of its Florida property customers in 1994.
In June 1993, 20 percent of Allstate was offered to the public. The offering was an extraordinary success, generating $2.4 billion in capital. That sum was the largest ever raised in an initial public offering in the United States. The separation of Allstate from Sears was part of Sears's new focus on its traditional business of merchandising. With newly found financial strength from the successful public offering, Allstate posted impressive numbers for 1993: a record net income of $1.3 billion on revenue of $20.9 billion.
A dip in profits followed in 1994, however, in the wake of another natural disaster which involved massive claims against Allstate. The Northridge, California earthquake, which struck in January, resulted in claims totaling over $1 billion. In its wake, as had happened following Hurricane Andrew, Allstate (and most other insurers) attempted to stop writing policies for homeowners' insurance in the state, and California eventually passed legislation creating a state Earthquake Authority to help pay future catastrophe claims.
Allstate became completely independent in June 1995, when Sears gave up its 80 percent stake in the company, distributing 350.5 million shares of Allstate stock to its own stockholders. Allstate also streamlined its operations, selling off the PMI Mortgage Insurance subsidiary to raise funds for corporate growth. A smaller hurricane in 1995, Opal, resulted in a more manageable amount of damage than Andrew, and the company's yearly totals were a record-setting $22.8 billion in revenues and $1.9 billion in income.
Concurrent with the positives of Allstate's independence and financial success, controversies were surfacing on a number of fronts. In Texas, the company's use of Allstate-run law firms to represent claimants in court was being examined, while in California Allstate was accused of falsifying engineering reports to minimize earthquake damage claims. In several other states, attorneys general were investigating allegations that the company was overcharging single car owners for auto insurance. Additional states were examining the practice of mailing out pamphlets to auto accident claimants which attempted to dissuade them from consulting an attorney. The company fought these and all such actions vigorously. Allstate, along with a number of other insurance carriers, was also accused of "redlining," or denying insurance to inner city and minority homeowners. In this case, the company announced it was making changes to its policy guidelines which would improve the opportunity for such customers to obtain in surance.
Strong years were again seen in 1996 and 1997, with record revenues and income posted in each. The company began trying new methods of insurance sales, using more independent agents and exploring the possibility of telephone or Internet sales. This was a delicate subject, as the 15,000 plus traditional full-time company agents were strongly opposed to such competition. Allstate also divested itself of several smaller subsidiaries and finished selling off its real estate holdings, a move which had been started in 1991. In late 1998 the company founded a bank, Allstate Federal, which it began to use to handle many of the company's own financial transactions.
In January 1999, a new CEO was installed, Edward M. Liddy. Liddy had been with Allstate only five years, following a longer stretch with Sears, but had quickly moved into the positions of president and COO, and was expected to closely follow the pattern set by his predecessor Jerry Choate. As the company approached the year 2000, it was as strong as it had ever been, and appeared likely to continue in that position for some time to come.
Principal Subsidiaries: Allstate Insurance Company; Allstate Life Insurance Company; Allstate Indemnity Company; Allstate County Mutual Insurance Company; Allstate Holdings, Inc.; Allstate International, Inc.; Allstate New Jersey Holdings, Inc.; Allstate Property and Casualty Insurance Company; Allstate Texas Lloyd's, Inc.; Deerbrook Insurance Company; Forestview Mortgage Insurance Company; Pinebrook Mortgage Insurance Company.
Principal Operating Units: Property-Liability; Life and Annuity; Investments.
OVERALL
Beta: 1.49
Market Cap (Mil.): $17,655.16
Shares Outstanding (Mil.): 522.96
Annual Dividend: 0.84
Yield (%): 2.49
FINANCIALS
ALL Industry Sector
P/E (TTM): 13.71 2.84 17.32
EPS (TTM): 6.81 -- --
ROI: -- 0.08 4.63
ROE: 7.20 1.73 9.08
Statistics:
Public Company
Incorporated: 1931 as Allstate Insurance Company
Employees: 51,400
Total Assets: $80.91 billion (1997)
Stock Exchanges: New York Chicago
Ticker Symbol: ALL
SICs: 6311 Life Insurance; 6331 Fire, Marine & Casualty Insurance; 6351 Surety Insurance; 6371 Pension, Health & Welfare Funds; 6719 Holding Companies, Not Elsewhere Classified
Name Age Since Current Position
Wilson, Thomas 53 2008 Chairman of the Board, President, CEO; Chairman of the Board, President, CEO of AIC
Civgin, Don 49 2008 Chief Financial Officer, Senior Vice President
Brune, Catherine 57 2011 President - Allstate Protection, South Region
Winter, Matthew 54 2009 President and Chief Executive Officer - Allstate Financial, Senior Vice President of AIC
Lacher, Joseph 41 2009 President of Allstate Protection, Senior Vice President of AIC
Gupta, Suren 50 2011 Executive Vice President - Technology & Operations
Mayes, Michele 61 2007 Senior Vice President, General Counsel; SVP, General Counsel, Chief Legal Officer of AIC
Pilch, Samuel 64 2008 Controller; Group Vice President and Controller of AIC
Walker, Joan 63 2009 Senior Vice President of AIC, Corporate Relations
Roche, Michael 59 2007 Senior Vice President of AIC (Claim)
Sorenson, Steven 46 2007 Senior Vice President - AIC (Allstate Protection Product Operations)
DeVries, James 47 2008 Senior Vice President - Human Resources of AIC
Greffin, Judith 50 2008 Senior Vice President and Chief Investment Officer of AIC
LaNeve, Mark 51 2009 Senior Vice President, Chief Marketing Officer of AIC
Redmond, Andrea 55 2010 Director
Smith, Joshua 70 1997 Independent Director
Taylor, Mary 61 2000 Independent Director
Farrell, W. James 68 1999 Independent Director
LeMay, Ronald 66 1999 Independent Director
Riley, H. John 70 1998 Independent Director
Ackerman, F. Duane 68 1999 Independent Director
Sprieser, Judith 57 1999 Independent Director
Greenberg, Jack 68 2002 Independent Director
Beyer, Robert 51 2006 Independent Director
Address:
Allstate Plaza
2775 Sanders Road
Northbrook, Illinois 60062
U.S.A.