Who is buying Allstate benefits in 2024?
Asked by: Robb Fahey | Last update: November 27, 2025Score: 4.1/5 (48 votes)
Who is buying Allstate health and benefits?
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.
Is Allstate insurance being sold?
Jan 26 (Reuters) - Allstate Corporation said on Tuesday it has agreed to sell its life insurance company to entities managed by buyout firm Blackstone Group Inc for $2.8 billion.
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.
Who bought Allstate voluntary benefits?
Insurance giant Allstate will sell off its employer voluntary benefits arm to StanCorp Financial Group, also known as the Standard, in a deal valued at $2 billion.
Allstate Employee Benefits | Benefit Overview Summary
What insurance company did Allstate merge with?
Bert and Ernie. Great pairs are always stronger together, uniting to become greater than the sum of their parts. 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.
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.
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.
How is Allstate doing financially?
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.
Who is the largest shareholder of Allstate?
Vanguard owns the most shares of Allstate Corporation (ALL).
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.
Who took over Allstate?
On November 1, 2021, Allstate Insurance Company completed its sale of Allstate Life Insurance Company and Allstate Distributors, LLC, to Everlake US Holdings Company, a Delaware corporation (the “Transaction”).
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).
Where does Allstate rank in insurance companies?
Allstate ranks fourth in the nation for property and casualty insurance. in terms of total market share. The Allstate vehicle and property insurance company also provides motorcycle, boat, and pet insurance. Unfortunately, its record for customer service is one of the nation's worst.
Which health insurance company has the best benefits?
- Best Overall and Best for Self-Employed: Kaiser Permanente.
- Best Widely Available Plans: UnitedHealthcare.
- Best for Low Complaints and Best for Chronic Conditions: Aetna.
- Most Affordable: Molina Healthcare.
What insurance companies are affiliated with Allstate?
Who is buying Allstate?
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.
How do Allstate insurance agents make money?
Insurance Agents get paid a commission (percentage of your premium) from your insurance carrier. You do not pay insurance agents directly. Instead, every time you make a premium payment, the insurance carrier pays the set commission rate to the agent or agency.
Is Allstate financially sound?
The Allstate Corporation has reported it was able to generate “excellent” returns in the third quarter of 2024 despite higher catastrophe losses, seeing its net income applicable to common shareholders improve to $1.2bn, compared to a net loss of $41mn loss seen in the same quarter last year.
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.
Where is Allstate headquarters moving to?
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.
Why I quit being an insurance agent?
There's two big reasons why insurance agents quit: they don't feel valued, and they aren't given the technology they need to do their jobs well. In addition, managing commissions while hitting performance goals is a stressful part of the job for many insurance agents.
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.
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.
Is Allstate the most expensive car insurance?
In terms of average costs, Allstate has the highest sample premium in our rate analysis. The insurer also has sample premiums higher than the national average in every driver category we analyzed. This includes teen drivers, senior drivers, drivers with a speeding ticket, and drivers with a DUI.