Fitch Downgrades Allstate’s IFS Ratings to ‘A’
Citing declines in statutory capital and poor underwriting results in personal auto, Fitch Ratings has downgraded the financial strength ratings of Allstate P/C insurance ...
Allstate News
Allstate Posts Loss With ‘Exceptionally’ High Catastrophe Costs
Allstate Corp. posted a bigger first-quarter loss than analysts expected as higher premiums failed to offset rising auto costs and soaring catastrophe losses.
Telematics Master Class: How Progressive Offers Competitive Prices
During an investor conference last week, Progressive's leader revealed some subtle wording changes to the company's purpose and vision. Unchanged, however, are four pillars of Progressive's strategy, ...
Allstate Not Turning Up Ad Spend Yet: CFO
During an investor conference on Monday, the chief financial officer of Allstate confirmed that the company isn't ready to ramp up its marketing spend to grow its personal auto book just yet, even ...
Birth of a Unicorn: How Branch’s Founders Turned Noes Into Yeses
Like most startups, the founders of unicorn Branch faced some early setbacks.
In a word, the process was "intense," according to Steve ...
Why Not Go Direct on Homeowners, Allstate CEO Asks
When Allstate's chief executive officer looks at potential growth opportunities for personal lines insurers, he sees an untapped part of the homeowners insurance market—customers that will buy home ...
Allstate’s Plan to Return to Profit in Auto
Following a year of turbulence in its auto insurance business, Allstate Corp. outlined what CEO Tom Wilson called the company's No. 1 priority: improve margins.
As it had warned last month, Allstate Corp. reported a fourth-quarter 2022 loss of $310 million as losses from auto insurance outpaced an increase in revenue.
Allstate Reports $310M Q4 Loss as Auto Claims Costs Motor Past Rate Hikes
Laid Off Tech Workers Are About to Get Help—From Allstate
Allstate Corp. plans to tap the pool of recently fired tech workers to help the insurer overhaul its business. The company—best known for auto and home policies—is investing in technology ...
Allstate Estimates ’22 Auto Combined Ratio of 110; Frequency, Reserves Up
Allstate announced preliminary estimates of its fourth-quarter and full-year 2022 results last night, revealing a 2022 combined ratio of 110 for personal auto insurance, with reserve boosts for prior ...