Is Allstate being sold?
Asked by: Eugenia Balistreri | Last update: July 29, 2025Score: 4.7/5 (39 votes)
Who is buying Allstate?
The Standard has agreed to acquire Allstate's employer voluntary benefits business for $2 billion in cash. The voluntary benefits business provides coverage for about 3.5 million people. It reported $45 million in adjusted net income for the first half of the year on $535 million in revenue.
Has Allstate insurance been sold?
--(BUSINESS WIRE)--The Allstate Corporation (NYSE: ALL) today announced that it has closed the sale of Allstate Life Insurance Company (ALIC) and certain subsidiaries to entities managed by Blackstone for total proceeds of $4 billion, which is inclusive of Blackstone's approximately $2.8 billion purchase price, as well ...
What is the outlook for Allstate company?
Allstate Corporation has 24.14% upside potential, based on the analysts' average price target. Allstate Corporation has a consensus rating of Strong Buy which is based on 11 buy ratings, 1 hold ratings and 1 sell ratings. The average price target for Allstate Corporation is $229.23.
How is Allstate doing financially?
Insurance News
The Allstate Corporation released its financial results for the third quarter of 2024, showing a revenue increase of 14.7% to $16.6 billion compared to $14.5 billion in the same quarter last year. Year-to-date consolidated revenue reached $47.6 billion, up 12.6% from $42.3 billion in the prior year.
The role of an Allstate Licensed Sales Professional | Allstate Insurance
Why are Allstate agents leaving?
It was also observed that Allstate changed its agent compensation system in recent years, reducing what the insurer pays its agents on customers' renewals while increasing pay for new business. This, Crain's Chicago Business reported, has pressured several agents to leave the business.
Who is Allstate biggest competitor?
State Farm is the largest auto insurance company in the U.S. based on written premium, or the total amount it bills customers. Progressive is the second-largest car insurance company, followed by Geico and Allstate.
Who is the largest shareholder of Allstate?
Vanguard owns the most shares of Allstate Corporation (ALL).
How much do top Allstate agents make?
The majority of Allstate Agents generate between $200,000 and $600,000 gross annual revenue. The top 10% earn $800,000 or greater in gross annual revenue. Based on a majority of Allstate Exclusive Agent's gross income earned during 2022, excluding Allstate Exclusive Agents with less than 12 months of affiliation.
Is Allstate moving its headquarters?
The Allstate Research and Planning Center opens in Menlo Park, California, to help with market research. Allstate moves its headquarters to a new 122-acre, six-building complex in Northbrook, Illinois.
What is happening with Allstate Insurance?
Allstate stopped writing new California homeowner insurance policies in November 2022, and last year, the company received approval for a 4% rate hike. Consumer Watchdog President Carmen Balber challenged Allstate's move.
Does Allstate Insurance have a good reputation?
Allstate is the nation's fourth-largest car insurance company, and it ranks second for home insurance. Allstate has an excellent complaint rating for home insurance from the National Association of Insurance Commissioners (NAIC).
Who did Allstate merge with?
When Allstate acquired National General in 2021, another great pair came together, joining products to offer employers an even broader suite of coverage solutions for their employees.
Did Allstate sell out?
Allstate Corp. has agreed to sell its employer voluntary benefits business to StanCorp Financial Group Inc. for $2 billion, with plans also underway to divest its individual and group health sectors. This move is part of a broader strategy to focus more intensely on its core personal liability and protection services.
Who is cheaper than Allstate?
State Farm offers cheaper rates on auto and home insurance than Allstate. State Farm also has higher customer service ratings. However, Allstate offers a few home and car insurance coverages that State Farm doesn't have.
Is Geico owned by Allstate?
GEICO is a wholly owned subsidiary of Berkshire Hathaway, which provides coverage for more than 24 million motor vehicles owned by more than 15 million policy holders as of 2017.
Do Allstate agents get commission?
You sign on for a 10% new commission and 10% renewal commission and then when Allstate corporate isn't making their billions they change the commission to 7%. Pretty hard deciding on a business plan and expenses when really its just up to them.
Who is the highest paid insurance agent in the world?
Gideon du Plessis failed in the 10th standard and never went to college. He is today the highest earning insurance agent in the world, with annual commissions amounting to Rs 7 crore (Rs 70 million) plus. A record he has maintained over the last 12-14 years, selling 700 policies yearly.
Is Allstate in debt?
Total debt on the balance sheet as of September 2024 : $8.08 Billion USD. According to Allstate's latest financial reports the company's total debt is $8.08 Billion USD. A company's total debt is the sum of all current and non-current debts.
Is Progressive bigger than Allstate?
What are the largest auto insurance companies in the US? State Farm is the biggest auto insurance company in the country by market share. Progressive, Geico and Allstate are the next three largest.
What is the turnover rate for Allstate employees?
Allstate's estimated revenue is $25.6 billion for 2016. The estimated number of employees right now is 43,050, with the number having remained the same since the beginning of 2016. The estimated employee churn rate for Allstate is therefore 0%.
Is Allstate better than State Farm?
State Farm receives better scores than Allstate in studies focused on customer service, while Allstate logs relatively fewer customer complaints overall. The Zebra's editorial reviews place State Farm slightly higher, coming in at 4.5 to Allstate's 4.0 out of five.
Who is the parent company of Allstate?
In June 1993, 19.8% of Allstate became public through a stock offering. Allstate became completely independent in June 1995, when Sears spun off the remaining 80% stake in the company, distributing 350.5 million shares of Allstate stock to its stockholders.
Who is the most trusted insurance company?
- Best for customer satisfaction: Erie Insurance.
- Best for seniors: Nationwide.
- Best for liability insurance: Auto-Owners.
- Best for claims filing : State Farm.
- Best for bundling: American Family.
- Best for accident forgiveness: Progressive.
- Best for military members and veterans: USAA.