Allstate

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The Allstate Corporation
Public
Traded as
IndustryInsurance
FoundedApril 17, 1931; 90 years ago (1931-04-17)[1]
HeadquartersNorthbrook, Illinois, U.S.
Key people
Thomas J. Wilson
(Chairman, President, and CEO)
Products
RevenueIncrease US$44.675 billion (2019)[2]
Increase US$6.089 billion (2019)[2]
Increase US$4.847 billion (2019)[2]
Total assetsIncrease US$119.950 billion (2019)[2]
Total equityIncrease US$25.998 billion (2019)[2]
Number of employees
45,780 (as of December 31, 2019)[2]
ParentSears (1931–1995)[3]
SubsidiariesEncompass Insurance Company
Esurance
SquareTrade
Allstate India
Allstate Northern Ireland
National General Insurance
Websiteallstate.com

The Allstate Corporation is an American insurance company, headquartered in Northfield Township, Illinois.

Allstate is a large corporation, it ranked 79th in the 2019 Fortune 500 list of the largest United States corporations by total income.[4]

Allstate in Toronto

History[change | change source]

The idea for Allstate Insurance Company came during a bridge game in 1930. Insurance broker Carl L. Odell proposed to Wood, his neighbor, the idea of selling auto insurance by direct mail. Allstate Insurance Company, named after Sears’ tire brand, went into business on April 17, 1931, offering auto insurance by direct mail and through the Sears catalog.[5]

In 1934, Allstate opened its first sales office in a Chicago Sears store.[6]

Allstate added products throughout the 1950s, including fire insurance in 1954 and homeowners and life insurance in 1957.

Allstate began selling insurance to Canadians in 1953. Allstate Insurance Company of Canada was registered in 1964.[7]

In 1991, the company went public before becoming completely independent in 1995.[1]

In 1996, their website www.allstate.com was launched.

In 2012 Allstate Solutions Private Limited (also called Allstate India) was opened in Bangalore which is a technology and operations centre to provides software development and business process outsourcing services to its US parent.[8]

In 2018 — 2019, Allstate collaborated with Red Cross helped in liquidation of consequences of natural disasters in Hawaii and California.[9][10]

In July 2020, Allstate announced bought of company National General Insurance for $4 billion.[11]

References[change | change source]

  1. 1.0 1.1 "Allstate: 1996-1995 (Sears' divestment)". Sears. 2006-10-31. Archived from the original on 8 August 2010. Retrieved 2010-07-09.
  2. 2.0 2.1 2.2 2.3 2.4 2.5 https://www.allstateinvestors.com/static-files/59fae21e-38e1-46dc-bd8d-d8251f275534%7CThe[permanent dead link] Allstate Corporation Annual Report (Form 10-K) February 2020.
  3. "Allstate Newsroom - History and Timeline Page". Allstate. 2010. Archived from the original on 2010-11-18. Retrieved 2011-02-17.
  4. "Fortune 500 Companies 2018: Who Made the List". Fortune. Retrieved 2018-11-10.
  5. "Encyclopedia- Allstate Corp". Encyclopedia.com. Archived from the original on 2011-06-28. Retrieved 2011-02-23.
  6. "Allstate Insurance Company Digital Newsroom - History and Timeline". Allstate. Archived from the original on 2010-11-18. Retrieved 2011-02-17.
  7. "Encyclopedia- Allstate Corp". Encyclopedia.com. Archived from the original on 2011-06-28. Retrieved 2011-02-23.
  8. "Allstate to open tech centre in Bangalore". The Economic Times.
  9. Staff, Web (2018-05-08). "Allstate collaborates with Red Cross to distribute disaster kits statewide". KHON. Retrieved 2018-05-14.
  10. "Allstate and American Red Cross Team Up to Offer Free Disaster Kits". NBC Palm Springs - News, Weather, Traffic, Breaking News. 2019-07-25. Retrieved 2019-10-27.
  11. "Allstate insurance company acquires National General for $4 billion". 2020-07-08. Retrieved 2020-07-08.