Allstate Speaks at Insurance Conference

At a recent JP Morgan Insurance Conference, they had Bob Block, who is VP of Investor Relations at Allstate, speak to the crowd about car insurance, other insurance, as well as the company and its finances. He put on a great presentation that explained a lot to many, and people left the conference feeling like they had a better grasp on the subject matter as well as the company.

Block said that their company was an innovator, and that they were keeping with that promise by changing the heads of their company from Ed Liddy to Tom Wilson. He said that they just came off a banner year for them, where they strengthened their name and rewarded their shareholders. He said they have been growing over the past five years, but last year they brought in just under $5 billion in net income.

He said that their auto insurance business is still the strongest part of their business. He said that their auto insurance premiums were written by 3.5% and the number of their policies grew 2.7%. That means they brought in more than one million cars with car insurance. Property liability ratio was 83.6 – and they feel that was due to no large losses.

Block went on to say that they will continue to grow their portfolio, as well as take time to properly price their auto insurance policies. He feels that if they stay on the same track they have been on recently, that they should start to see even more gain both financially and on a customer service level as well. They feel that they have many more areas to grow into, and that they will continue on the way they have.

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