Key Stats
Founded: April 17, 1931 in Chicago, Illinois
Headquarters: Northbrook, Illinois, United States
CEO: Tom Wilson (since 2007)
Employees: Approximately 53,000
NYSE Ticker Symbol: ALL
Allstate Corp ranks as the second-largest personal lines property and casualty insurer in the United States. The company provides auto, home, life, and other insurance products through multiple distribution channels including agents, contact centers, and online platforms.
Allstate operates across five business segments: Allstate Protection, Run-off Property-Liability, Protection Services, Allstate Health and Benefits, and Corporate and Other. The company serves approximately 208 million policies in force as of 2024.
The insurance giant generated $64.1 billion in total revenue in 2024. Allstate trades on the New York Stock Exchange and maintains operations throughout the United States and Canada through brands including Allstate, Esurance, and Encompass.
Allstate Corp History
The Allstate Corp story began during a bridge game on a Chicago commuter train in 1930. Insurance broker Carl L. Odell proposed selling auto insurance by direct mail to his neighbor Robert E. Wood, who served as president and CEO of Sears, Roebuck and Co. The idea aimed to reduce costs by eliminating agent commissions.
Wood presented the concept to the Sears board of directors, who approved the venture. Allstate Insurance Company launched on April 17, 1931, during the Great Depression. The company name came from an automobile tire brand sold by Sears.
1931
Allstate Insurance Company launched as a Sears subsidiary. First policy insured a 1930 Studebaker at $41.60 annually. Sold 4,217 policies generating $118,323 in premiums.
1933
First agent sale completed from a Sears booth at the Century of Progress World’s Fair in Chicago. Company earned its first profit of $93,000.
1934
First permanent sales office opened in a Chicago Sears store, marking transition from mail-order to agent-based sales.
1950
Iconic slogan “You’re in good hands” created by sales executive Davis W. Ellis. The phrase remains the company tagline.
1952
The Allstate Foundation established as one of the first corporate foundations in the United States.
1993
Sears offered 19.8% of Allstate stock in the largest IPO in U.S. history at that time. Company became publicly traded.
1995
Allstate became fully independent after Sears divested remaining shares to shareholders on June 30.
2007
Tom Wilson appointed CEO. He continues leading the company through 2025.
2011
Acquired Esurance and Answer Financial for approximately $1 billion, expanding online insurance capabilities.
2021
Completed $4 billion acquisition of National General Holdings Corp., becoming a top-five personal lines carrier in the independent agent channel.
Allstate Corp Co-founders
Carl L. Odell
Insurance broker who conceived the direct mail auto insurance idea. Served as Allstate’s first vice president and secretary.
Robert E. Wood
President and CEO of Sears, Roebuck and Co. Championed Odell’s idea and presented it to the Sears board for approval.
Lessing J. Rosenwald
First chairman of the board at Allstate Insurance Company when it launched in 1931.
Allstate Corp Revenue
Allstate Corp reported $64.1 billion in total revenue for 2024, representing a 12.3% increase from $57.09 billion in 2023. The company has experienced consistent revenue growth driven by premium increases and policy expansion.
Allstate Corp Annual Revenue (in Billions USD)
Allstate Corp Competitors
Allstate Corp competes with major insurers in the personal property and casualty insurance market. State Farm holds the largest market share, with Allstate ranking second. The company also faces competition from Progressive Corporation and GEICO in auto insurance.
| Competitor | Headquarters | Primary Products |
|---|---|---|
| State Farm | Bloomington, Illinois | Auto, Home, Life Insurance |
| Progressive Corporation | Mayfield Village, Ohio | Auto, Home, Commercial Insurance |
| GEICO | Chevy Chase, Maryland | Auto, Motorcycle, Home Insurance |
| Liberty Mutual | Boston, Massachusetts | Auto, Home, Life Insurance |
| Farmers Insurance | Los Angeles, California | Auto, Home, Business Insurance |
| Travelers Companies | New York City, New York | Property, Casualty, Commercial Insurance |
| Nationwide | Columbus, Ohio | Auto, Home, Life Insurance |
| USAA | San Antonio, Texas | Auto, Home, Life Insurance |
| Hartford Insurance | Hartford, Connecticut | Auto, Home, Commercial Insurance |
| American Family Insurance | Madison, Wisconsin | Auto, Home, Life Insurance |
Allstate Corp Acquisitions
Allstate Corp has expanded through strategic acquisitions to strengthen its market position and diversify its product offerings. The company has pursued both organic growth and targeted purchases across insurance and technology sectors.
In 2011, Allstate acquired Esurance and Answer Financial for approximately $1 billion. Esurance provided online auto insurance capabilities, while Answer Financial offered insurance quote comparisons from multiple carriers. This purchase expanded Allstate’s reach to customers who prefer purchasing insurance online rather than through traditional agents.
The company acquired SquareTrade in November 2016, adding consumer electronics protection plans to its portfolio. This move helped Allstate extend beyond traditional insurance into device protection services. InfoArmor followed in August 2018, bringing identity protection and cybersecurity solutions into the Allstate family of companies.
Allstate completed its largest acquisition in January 2021 when it purchased National General Holdings Corp. for $4 billion. National General operated through approximately 42,300 independent agents with significant presence in non-standard auto insurance. This transaction increased Allstate’s personal lines market share by over one percentage point.
The National General acquisition made Allstate a top-five personal lines carrier in the independent agent distribution channel. The deal combined Encompass and Allstate’s Independent Agent businesses with National General’s operations. Earlier acquisitions included American Heritage Life Investment Corporation in 1999, which added life and supplemental health insurance capabilities.
Allstate Corp Marketcap
Allstate Corp maintains a market capitalization of approximately $55 billion as of late 2025. The company ranks among the largest publicly traded insurance companies in the United States by market value.
Allstate Corp Market Capitalization (in Billions USD)
FAQs
When was Allstate Corp founded?
Allstate Insurance Company was founded on April 17, 1931, as a subsidiary of Sears, Roebuck and Co. The company began selling auto insurance through direct mail and the Sears catalog.
Who is the CEO of Allstate Corp?
Tom Wilson serves as chairman, president, and CEO of Allstate Corp. He has held the CEO position since 2007 and became chairman of the board in 2008.
What is Allstate Corp market capitalization?
Allstate Corp has a market capitalization of approximately $55 billion as of late 2025. The company trades on the New York Stock Exchange under the ticker symbol ALL.
Where is Allstate Corp headquarters located?
Allstate Corp headquarters is located in Northbrook, Illinois, United States. The company originally operated from Sears headquarters in Chicago before relocating.
What companies does Allstate Corp own?
Allstate Corp owns Esurance, National General, SquareTrade, InfoArmor (Allstate Identity Protection), Allstate Roadside, Arity, and Encompass Insurance among other subsidiaries.