Fitch Avows Allstate's Credibility
Yesterday, Fitch Ratings affirmed the debt and credit ratings of Allstate Corp. ( ALL ) and its subsidiaries namely, Allstate Insurance Group, Allstate Financial and Allstate Life Insurance Co.
Accordingly, the ratings agency has affirmed issuer default ratings (IDR) of “A-” and debt ratings for Allstate Corp. Alongside, the insurer financial strength (IFS) rating of “A+” (Superior) and IDR of “A-” has been asserted on Allstate Insurance Group and its associates. Additionally, Fitch assigned a “BBB+” rating to Allstate's senior unsecured debt worth $500 million, issued last month, in order to fund a $350 million debt that is scheduled to mature this year. These ratings reflect a stable outlook.
Although the catastrophe losses eroded most of the profits of Allstate in 2011, it still remains a leading brand of personal lines writer and the second best leader in both private passenger auto and homeowners insurance business.
Meanwhile, a modest capitalization with a statutory surplus of $15 billion at 2011-end further strengthens the foundation of Allstate and its subsidiaries. A debt-to-capital ratio of 26% at 2011-end and annual interest expense and common dividends of about $800 million against deployable assets of $2.2 billion also reflects stable liquidity.
Furthermore, Allstate’s improved automobile and homeowners’ margins due to superior rates along with its underwriting capabilities, prudent capital management and strong liquidity continue to be impressive. This has also helped the company to expand its agency concentration in its operational areas, thereby revitalizing its distribution channel by having stronger market presence.
Allstate Action Auto Car Insurance - News
Although the catastrophe losses eroded most of the profits of Allstate in 2011, it still remains a leading brand of personal lines writer and the second best leader in both private passenger auto and homeowners insurance business.
You're not imagining it - commercials for car insurance, many of them featuring the aforementioned Flo or the Gecko, have overrun TV. Geico changed the landscape when it began spending unprecedented amounts on TV about a decade ago.
Allstate has the second leading market position in both private passenger auto and homeowners insurance behind State Farm Mutual Automobile Insurance Co. Allstate's acquisition of Esurance gives it access to direct distribution in an effort to compete
In this case, the difference is that the customer's record of car accidents — or “auto loss history,” in industry parlance — dictates how much they'll have to shell out to get coverage for the roof over their heads. “Allstate data shows a strong
Allstate Corp., the Northbrook-based home and auto insurer, alerted agency owners on Friday that wrong information might have been reported on some 2011 tax documents. The company said 5400 agent locations managed by 4700 agency owners have been
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