Allstate facts for kids
|Founded||April 17, 1931|
|Headquarters||Northbrook, Illinois, U.S.|
|Thomas J. Wilson
(Chairman, President, and CEO)
|Revenue||US$44.675 billion (2019)|
|US$6.089 billion (2019)|
|US$4.847 billion (2019)|
|Total assets||US$119.950 billion (2019)|
|Total equity||US$25.998 billion (2019)|
Number of employees
|45,780 (as of December 31, 2019)|
|Subsidiaries||Encompass Insurance Company
Allstate Northern Ireland
National General Insurance
Allstate is a large corporation, it ranked 79th in the 2019 Fortune 500 list of the largest United States corporations by total income.
The idea for Allstate Insurance Company came during a bridge game in 1930. Insurance broker Carl L. Odell proposed to Wood, his neighbor, the idea of selling auto insurance by direct mail. Allstate Insurance Company, named after Sears’ tire brand, went into business on April 17, 1931, offering auto insurance by direct mail and through the Sears catalog.
In 1934, Allstate opened its first sales office in a Chicago Sears store.
Allstate added products throughout the 1950s, including fire insurance in 1954 and homeowners and life insurance in 1957.
Allstate began selling insurance to Canadians in 1953. Allstate Insurance Company of Canada was registered in 1964.
In 1991, the company went public before becoming completely independent in 1995.
In 1996, their website www.allstate.com was launched.
In 2012 Allstate Solutions Private Limited (also called Allstate India) was opened in Bangalore which is a technology and operations centre to provides software development and business process outsourcing services to its US parent.
In 2018 — 2019, Allstate collaborated with Red Cross helped in liquidation of consequences of natural disasters in Hawaii and California.
In July 2020, Allstate announced bought of company National General Insurance for $4 billion.
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Allstate Facts for Kids. Kiddle Encyclopedia.