Who Owns Allstate Insurance? (2024)

FAQs

Who Owns Allstate Insurance? ›

Allstate is owned by its shareholders, as it is a publicly traded company. The biggest shareholders are BlackRock, The Vanguard Group, and State Street Corporation which have a combined ownership stake of almost 20%, according to public records, as of Q1 2020.

Allstate Corporation has closed the sale of its life and annuity business – Allstate Life Insurance Company (ALIC) – as well as certain other subsidiaries to entities operated by investment management company Blackstone.

Founded in 1931 as part of Sears, Roebuck and Co., it was spun off in 1993, but was still partially owned by Sears until it became an independent company completely in June 1995. The company also has personal line insurance operations in Canada.

Allstate is not owned by hedge funds. The company's largest shareholder is The Vanguard Group, Inc., with ownership of 12%. With 7.2% and 4.3% of the shares outstanding respectively, BlackRock, Inc. and State Street Global Advisors, Inc.

No, Geico is not owned by Allstate. Geico is owned by the investment corporation Berkshire Hathaway. Allstate is a publicly-owned company.

No, Progressive and Allstate are separate companies. The Progressive Corporation and The Allstate Corporation are both independent, publicly held companies.

The sale became final on November 1, 2021. The Allstate Assurance Company name was changed to Everlake Assurance Company and the Allstate Life Insurance Company name was changed to Everlake Life Insurance Company, respectively.

Coldwell Banker Real Estate Group

Sears' then CEO, Edward R. Telling, said that this acquisition was in keeping with its goal to become the nation's "largest consumer-oriented financial service entity." But in 1993, Sears sold the company (along with Allstate) to focus on retail.

A worker climbs the steps of the lobby inside the building housing Allstate's new smaller and updated headquarters on Dec. 20, 2022, in Glenview. The new office space occupies about 15% of the building at 3100 Sanders Road. Workers spread out in Allstate's new smaller and updated headquarters in Glenview.

Who bought Allstate headquarters? ›

Dermody Properties Acquires Allstate Campus, Plans to Break Ground on The Logistics Campus - Dermody Properties.

Allstate long term debt for 2023 was $7.942B, a 0.28% decline from 2022. Allstate long term debt for 2022 was $7.964B, a 0.15% decline from 2021. Allstate long term debt for 2021 was $7.976B, a 1.93% increase from 2020.

After one of the worst years in memory for Allstate, CEO Tom Wilson collected more than $15 million in total compensation. The total was 21% less than the $19.1 million Wilson cleared in 2021, according to the company proxy statement, filed Monday with the Securities & Exchange Commission.

Allstate is so expensive because car insurance is expensive in general, due to rising costs for insurers. Allstate's premiums may also reflect how competitively Allstate agents are paid, but at $781 per year, the average Allstate car insurance policy is actually cheaper than coverage from most competitors.

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.

Geico and USAA are among the insurance companies that are cheaper than Allstate.

As a result of the Transaction, Allstate Distributors, LLC, has changed its name to Everlake Distributors, LLC, and Allstate Life Insurance Company has changed its name to Everlake Life Insurance Company (the “Company”).

The Allstate Corporation (NYSE: ALL) today announced that it has obtained all required regulatory approvals and closed its acquisition of SquareTrade, a consumer protection plan provider that distributes through many of America's major retailers.

--(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 ...