Tag: Allstate homeowners insurance

First quarter proves rough for insurance industry, but Allstate manages to stay on top

S.Vagus
Allstate Insurance news industry

Allstate reports that it has performed well during the first quarter of 2014 Allstate, one of the largest insurance companies in the U.S., has reported promising results from the past quarter. The company had expected the last quarter to be somewhat grim in terms of profits, but Allstate has performed quite well in light of several problematic issues that have emerged throughout the U.S. over the past quarter. The company’s property and auto insurance business segments were particularly successful despite a relatively dubious market. Insurer’s premiums grew by 4% in…

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Allstate eyes return to homeowners insurance business

S.Vagus
allstate homeowners insurance market news

Allstate beginning to make changes to business plan Allstate, one of the largest insurance companies in the U.S., is looking to get back into the homeowners insurance business. CEO Tom Wilson has announced that the company is working to improve customer loyalty after consolidating several independent agencies, acquiring smaller insurance providers, and a rate increase spree. Part of this effort is to begin expanding its flagging homeowners insurance business, which has shrunk by more than 1 million policies over the last four years. Homeowners insurance business may yield high returns…

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Allstate sees 46 percent revenue increase in 2012 first quarter

Julie Campbell
Allstate Insurance company news

The insurer experienced significant improvements in its home and auto markets. Allstate Corp. has announced that the net income for the first quarter of 2012 had increased by approximately 46 percent to $766 million, in a news release from the company. The chief executive officer of the insurer, Thomas J. Wilson, stated that the strategy of the carrier for improving their margins in the homeowners and auto insurance sectors had been paying off. The property-liability segment at Allstate generated a $523 million underwriting profit within that quarter This was notably…

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Allstate to launch new homeowner’s insurance products throughout the U.S.

S.Vagus

In October of last year, Allstate launched a new line of homeowner’s insurance products in Oklahoma called House & Home. The company’s initiative was met with success and now the insurer is gearing up to launch these products in various states through 2014. The products became popular amongst consumers because it provided them with a sleuth of discounts and new deductible and coverage options. The insurer has also introduced a more simplified quoting process that uses external information to fill out applications more quickly. As Allstate introduces these new insurance…

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Allstate to raise rates on homeowners insurance in Chicago after spate of recent disasters

Marc

Allstate is looking to raise rates on homeowners insurance in Chicago. The company has plans to raise rates by an average of 10% throughout the state, citing a rise in water, wind and hail damage claims over the past year. State regulators will not need to review the rate proposal, as the average rate increase does not exceed the 10% mark. The insurer plans to enact the new rates on March 26 this year. 2011 has become notorious for its natural disasters. These natural disasters took a toll in Chicago…

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