Overview
The Allstate Corporation is a holding company for Allstate Insurance Company and its subsidiaries, and it describes itself as one of the largest publicly held personal lines insurers in the United States.[1][2] Its business is centered on protection products and services, led by private passenger auto, homeowners and other personal lines insurance, with select commercial insurance offerings.[3][4] Beyond core insurance, Allstate also offers consumer product protection plans, roadside assistance, automotive protection and insurance products, telematics and mobility data services, identity protection, and employer and individual health-related benefits through its Protection Services and Health and Benefits operations.[5][4] The company states that its purpose is to empower customers with protection to help them achieve their hopes and dreams and to provide affordable, simple and connected protection solutions.[6][7]
Allstate primarily operates in the United States, including all 50 states and the District of Columbia, and in Canada, while parts of its Protection Services business also reach Europe, Asia and Australia.[8][9] The company is headquartered in Northbrook, Illinois.[10] As a scale indicator, Allstate reported total revenues of $64.106 billion in 2024 and had approximately 55,000 full-time employees and 400 part-time employees at year-end 2024.[11][12] [1][2][3][4][5][6][7][8][9][10][11][12]
Products & services
Allstate’s product set is anchored by personal property-and-casualty insurance. In its main Protection segment, the company sells private passenger auto insurance, homeowners insurance, other personal lines, and commercial insurance through the Allstate, National General and Answer Financial brands [13]. Auto and homeowners are the largest product lines: in 2024, auto generated $36.5 billion of premiums and homeowners generated $13.4 billion, or about 67.7% and 24.8% of Allstate Protection premiums, respectively [11]. The Protection segment represented 92.4% of consolidated insurance premiums and contract charges in 2024 [14]. Product features highlighted for Allstate-branded auto and home offerings include Accident Forgiveness, Auto Replacement Protection, transportation-expense options, Claim RateGuard, Claim-Free Bonus, Deductible Rewards, and bundled benefits such as an auto renewal guarantee and deductible waiver when the same event damages both auto and property [15].
Allstate also offers several data- and service-oriented protection products. Allstate Protection Plans provides consumer protection plans and related technical support for mobile phones, consumer electronics and major appliances, plus accidental-damage coverage for furniture [16]. Allstate Dealer Services offers vehicle service contracts, guaranteed asset protection waivers, road-hazard tire-and-wheel coverage, and paint-and-fabric protection [16]. Allstate Roadside provides towing, jump-start, lockout, fuel delivery and tire-change services, while Allstate Identity Protection provides identity protection and restoration, consumer cybersecurity, privacy and family digital-safety services [16]. Arity supplies telematics-enabled mobility insights and services, including risk scoring, lead generation, digital advertising, data integration, traditional telematics and data-as-a-service offerings built on collected and normalized driving data [16]. Protection Services produced $3.2 billion of revenue in 2024, of which Protection Plans contributed about 58% [11].
Within insurance, Allstate also markets usage-based and telematics products such as Drivewise, which uses a mobile app or in-vehicle device to capture driving behavior and provide feedback and more individualized pricing, Milewise, which prices coverage partly on miles driven, and DynamicDrive, a mobile telematics app used for behavioral rating [15]. In health and benefits, the company offers employer voluntary benefits and health products including life, accident, critical illness, hospital indemnity, short-term disability and other health products, as well as self-funded stop-loss and fully insured group health for employers and Medicare supplement, ancillary and short-term medical products for individuals [17][13]. [13][11][14][15][16][17]
Geographic presence
Allstate’s core operating footprint is concentrated in the United States and Canada. The company states that it primarily operates in the U.S., including all 50 states and the District of Columbia, as well as Canada.[8] Within its Allstate Protection business, the largest 2024 statutory direct-premium markets were Texas, California, Florida and New York.[3] In Allstate Health and Benefits, the largest 2024 geographic markets for statutory accident, health and life insurance premiums were Texas, Florida, Georgia and Ohio.[18]
Outside the U.S., Allstate reported $2.14 billion of revenue from external customers in 2024, up from $2.06 billion in 2023 and $1.94 billion in 2022.[19] Its Protection Services operations primarily serve the U.S. and Canada, while Allstate Protection Plans also has activity in Europe, Asia and Australia; this business generated $472 million of revenue outside the U.S. in 2024, mainly from consumer product protection plans sold in Europe, Japan and Australia.[20]
The company’s principal executive offices are in Northbrook, Illinois.[21] In North America, Allstate occupies about 685 retail stores plus administrative, data processing, claims-handling and other support facilities, comprising roughly 710 thousand square feet owned and 3.9 million square feet leased.[22] Outside North America, it owns one property in Northern Ireland and leases locations in India, the United Kingdom and Australia.[23] Allstate had about 55,000 full-time employees and 400 part-time employees at year-end 2024, though it did not provide a geographic breakdown of headcount in the cited disclosures.[12] [8][3][18][19][20][21][22][23][12]
Business segments
Allstate reports five reportable segments: Allstate Protection, Run-off Property-Liability, Protection Services, Allstate Health and Benefits, and Corporate and Other; Allstate Protection and Run-off Property-Liability together comprise the broader Property-Liability business.[24][25]
Allstate Protection is the company’s main operating segment, covering private passenger auto, homeowners, other personal lines, and commercial insurance distributed through exclusive agents, independent agents, contact centers, and online under the Allstate, National General, and Answer Financial brands. It is by far the largest segment, representing 92.4% of 2024 consolidated insurance premiums and contract charges; on the segment revenue table, Property-Liability as a whole contributed about 91% of consolidated revenue, with Run-off Property-Liability effectively negligible from a current revenue perspective.[24][14][11] Run-off Property-Liability consists of legacy property and casualty policies written primarily from the 1960s through the mid-1980s, with management focused on claims handling, coverage interpretation, exposure identification, litigation, and reinsurance collection rather than new business generation.[26][27]
Protection Services includes Allstate Protection Plans, Allstate Dealer Services, Allstate Roadside, Arity, and Allstate Identity Protection, spanning consumer product protection plans, telematics and data/analytics services, roadside assistance, protection and insurance products, and identity protection and restoration; it accounted for 4.7% of 2024 consolidated total revenue.[24][28] Allstate Health and Benefits offers self-funded stop-loss and fully insured group health products to employers, plus Medicare supplement, ancillary, and short-term medical products to individuals; based on reported segment revenue of $2.54 billion against consolidated revenue of $64.11 billion, it contributed about 4.0% of 2024 consolidated revenue.[24][29] Corporate and Other includes net investment income, gains and losses on investments, debt service, holding company activities, and certain non-insurance operations, and was a very small revenue contributor at roughly 0.3% of consolidated revenue in 2024.[24][11] [24][25][14][11][26][27][28][29]
Company history
Allstate was launched on April 17, 1931, as an insurance business created within Sears, Roebuck, and its early growth was tied to selling auto insurance directly to consumers; Sears leader Robert E. Wood is commonly credited with creating the company.[30][31] A major brand milestone came in 1950 with the introduction of the “You’re in good hands” slogan, which became central to Allstate’s identity.[32][30] The modern corporate structure took shape in the early 1990s: The Allstate Corporation was incorporated in Delaware in 1992 as the holding company for Allstate Insurance Company, the business went public in 1993, and it became fully independent in 1995 when Sears completed its spin-off of the company.[1][33][34][35]
In the following decades, Allstate continued to reshape its distribution model and leadership. Thomas J. Wilson became chief executive officer in 2007.[36] In 2011, Allstate closed the acquisition of Esurance and Answer Financial, expanding its direct-to-consumer insurance capabilities.[37] In 2021, it completed the acquisition of National General, a deal the company said significantly strengthened its position in the independent agency channel and broadened its distribution footprint.[38][39] [1][38][39][30][31][32][33][34][35][36][37]
Sources
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