Allstate Insurance remains one of America's largest personal lines insurers, but has lost ground in recent years to rivals. Its position as a shareholder-owned corporation instead of a mutual association has forced it to raise premiums with an inevitable impact on its market share. In 2019, it ranked 4th in private passenger insurance, and 5th overall in combined property & casualty, according NAIC figures. It was #2 in homeowners insurance. Total premiums written were $35.0bn, a little over half the size of market leader State Farm. Private auto accounted for over two-thirds the total sum. The main Allstate brand is offered via a national network of around 10,300 local branded agencies. Two separate divisions, Allstate Financial and Allstate Bank, offer a wide range of other financial services, and the group also traditionally marketed property and casualty cover through independent resellers under the Encompass brand. Until recently, there were also secondary brands including online direct insurer Esurance, brokerage Answer Financial and consumer appliance protection plan insurer SquareTrade. At the end of 2019 it announced plans to phase out its secondary brands in favour of a unified Allstate banner. That process was completed during 2020. Thomas Wilson is chairman & CEO. Total revenues in 2019 including investment income were $44.7bn, with net income of $4.7bn. It had a total of almost 146m policies in force; almost 100m of those were for appliance protection (formerly SquareTrade). Auto insurance accounted for just over 22m police in force, and homeowners for 6.5m. In 2020, the group announced plans to acquire smaller competitor National General for $4.4bn. The deal completed at the beginning of 2021, adding around another $4bn in auto and homeowners premiums to its total. In 2021, it effectively exited the life insurance sectoe - only a small part of its business - by selling that division to private equity fund Blackstone for $2.8bn. Allstate is widely recognised for its marketing, fronted for many years by actor Dennis Haysbert. From 2010 until 2020, another character, "Mayhem" (played by actor Dean Winters), was featured in a series of comic ads depicting potential insurance risks. Allstate was actually founded in 1931 as a wholly owned subsidiary of Sears Roebuck, named after one the best-selling automobile tires in the retailer's catalogue. In 1950, the company adopted the marketing slogan "You're in good hands with Allstate", which it continues to use to this day. Sears issued an IPO in Allstate in 1993 in what was then the largest offering in US history, and spun the business off entirely in 1995.
Capsule checked 22nd January 2021
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Who are the competitors of Allstate? Key competitors are State Farm, Zurich/Farmers, Liberty Mutual and Nationwide in homeowner insurance, and Progressive and Geico in auto insurance. See Financial & Insurance Sector for other companies
Historical profile information for Allstate
Adbrands Daily Update 9th Jul 2020: Allstate Insurance announced plans to acquire smaller rival National General for $4.4bn in cash. National General is a comparatively minor player with around 1% market share and annual written premiums of $5.6bn, but it operates sophisticated technology and would give Allstate access to its network of around 42,000 independent insurance agents across the country.
Adbrands Daily Update 3rd Nov 2019: "Mayhem: St Bernard". Still pining for classic TV comedy series '30 Rock'? Tina Fey is reunited with her wastrel ex-boyfriend from that show - or rather actor Dean Winters - in a funny new campaign for Allstate Insurance. Winters' danger-loving character "Mayhem" has been a consistently entertaining feature of Allstate's advertising since he was first created by Leo Burnett almost ten years ago, alternating with the rather more serious "good hands" ads fronted by Dennis Haysbert. This new campaign was overseen not by Burnett's but by 72andSunny, working with Allstate's increasingly active inhouse agency. A "Mayhem Cat" spot already dropped a couple of weeks ago, so this dog version was inevitable. Here's hoping there are more spots on the way.
Adbrands Weekly Update 16th Aug 2018: Ads of the Week "Surprisingly Painless". "Whatever happened to Dennis Quaid, the highly likeable star of 80s sci-fi romp Innerspace?" That's what the creative team at Leo Burnett Chicago was asking itself when batting around ideas for a rebrand for Allstate's second string insurance brand Esurance. So here he is in an enjoyably self-mocking campaign that is itself also highly likeable. Quaid does a fine job of poking fun at himself and the advertising industry in general. And let's face it, there's nothing ad industry insiders love more than ads about ads.
Adbrands Weekly Update 12th Feb 2013: Leo Burnett Chicago's "Mayhem" ad series for Allstate Insurance reaches some sort of crescendo in this epic ad, made for the Super Bowl, but pulled at the last minute. Why? As if there wasn't enough mayhem already at the game - not least a power blackout in the second half - Burnett couldn't condense this 60-second ad to fit the 30-second spot it had booked, so they re-ran an old commercial instead.
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