Allstate Insurance announces Vice Chair Don Civgin retirement

Allstate Insurance - Retirement Announcement

The insurer simultaneously announced that it would be undergoing a change in its senior leadership. Allstate Insurance has announced the retirement of Vice Chair and CEO of Protection Products and Services Don Civgin. This decision to retire followed a “distinguished 13-year career,” with the insurer, according to a recent news release. Cigvin first came to the company in 2008, at which time he was the Chief Financial Officer. From that time, Civgin moved up in Allstate Insurance, becoming the President and CEO of Allstate Financial in 2012. In 2019, he…

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Allstate insurance company launches anti-ableism campaign

Allstate insurance company - Campaign

The insurer is rolling out a public education strategy to promote inclusion in the Canadian market. The Allstate Insurance Company of Canada has announced the launch of a new public education campaign fighting ableism. The insurer is rolling out this program as a part of a collaboration it has with Inclusion Canada. Inclusion Canada is a national federation of 13 provincial and territorial associations that have over 300 local associations. These represent the human rights of individuals with intellectual disabilities. The organization is working with the Allstate Insurance Company of…

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Allstate insurance company lost $218 million from Marshall Fire in Colorado

Insurance company - money on fire - financial loss

The insurer’s fourth quarter catastrophe losses were about $528 million in total last year. The Allstate insurance company has reported its catastrophe losses for last year’s fourth quarter. Its total was a pre-tax $528 million, with a substantial impact from the loss events that occurred in December, particularly the Marshall Fire in Colorado. December 2021 was a particularly impactful month on the insurer’s total catastrophe losses. Allstate’s pre-tax catastrophe loss estimates were $411 million for December 2021 alone. After tax, that translates to $325 million. The $411 million is a…

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Allstate insurance company purchases potential new Chicago headquarters

Insurance company - making a purchase - deal

The insurer announced that it has purchased the building at 29 N. Wacker, where it might place its HQ. The Allstate insurance company has announced that it is acquiring an office building in the Loop in Chicago. This new location has the potential to serve as the national insurer’s new headquarters following the sale of its former HQ at the Northbrook campus. The announcement has been made under two months from that announcing the sale in Northbrook. The insurance company bought the 29 N. Wacker Drive 10-storey building for an…

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Insurance companies face steep criticism in Louisiana in wake of Hurricane Ida

Insurance companies - Hurricane destruction

State officials didn’t mince words in expressing the frustrations of residents held back by major obstacles. Residents of Louisiana are sick and tired of insurance companies, following two years of severe storms that have led to slow claims progress, struggles to reach providers in the first place, and inadequate payouts. Hurricane Ida left devastation behind in major areas of southeastern Louisiana in August. By December, many people are still living in temporary housing or FEMA trailers, awaiting the payouts from their insurance companies. The Louisiana Legislature joint insurance committee held…

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The Allstate Corp sells $570 million in loans to Wintrust Bank

Allstate Corp - 1 million dollars

The deal also made the bank the national preferred loan provider to the insurer’s agents. The Allstate Corp and Wintrust Bank have come to an agreement in which $570 million of loans have been sold to the bank, and that financial institution has become the preferred national provider of loans to the insurer’s agents. In total, the bank will be purchasing 1,800 loans to agents across the country. The bank, which is based in Rosemont, Illinois, has branches in Lansing, Dyer, and across the southern suburbs in the state. It…

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Allstate Corporation ALNY life insurance and annuity business sales close

Life insurance - Deal - money

The insurer has announced the receipt of all necessary regulatory approval for the sale closures. The Allstate Corporation (NYSE stock symbol ALL) has announced that it has closed the sale of its Allstate Life Insurance Company of New York (ALNY) to Wilton Re. The sale of ALNY was announced as having closed for about $400 million. The insurer announced the closure of the sale of the life insurance and annuity business when it obtained all the regulatory approvals it needed to move forward. “Closing on the sale of ALNY is…

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