Allstate Company Profile: Revenue, Business Model & Strategy
Research depth: 19 milestones · 10 FAQs
Allstate is a U.S. personal property and casualty insurer launched by Sears in 1931. Led by CEO Tom Wilson, it reported $67.685 billion in 2025 revenue.
How Allstate makes money: Allstate earns most of its revenue from insurance premiums, then invests funds held before claims are paid. In 2025, property and casualty premiums were $60.503 billion, accident and health premiums and contract charges…
The Allstate Corporation key figures
The Allstate Corporation had revenue of $67.7B for fiscal year 2025, up 5.6% from FY2024. Net income was $10.3B, a net margin of 15.2%.
Source: Allstate Corp annual report (SEC EDGAR, filed 2026-02-20) · Last reviewed September 2026
- Revenue per employee
- $1.3M
- FY2025 revenue divided by 53,300 employees; headcount may use another date
- Where was Allstate founded?
- Allstate was founded in Chicago, Illinois in 1931.
- When did Allstate start?
- Allstate was founded in 1931.
- Who founded Allstate?
- Allstate was founded by Sears, Roebuck and Co.
- How old is Allstate?
- Allstate is 95 years old as of 2026.
Table of Contents
The Allstate Corporation Key Facts
| Company | The Allstate Corporation |
|---|---|
| Annual revenue change | +5.6% (FY2024–FY2025) |
| Financials | $67.7B (FY2025, last reviewed September 2026) |
| Market Cap | $56.5B |
| FY2025 net income | $10.3B |
| Last reviewed | By Swet Parvadiya, Founder & Editor - September 2026 |
| Founded | 1931 |
| Founder(s) | Sears, Roebuck and Co. |
| CEO | Tom Wilson |
| Headquarters | Northbrook, Illinois |
| Industry | property-casualty insurance |
| Employees | 53,300+ |
Allstate Company Profile: Revenue, Business Model & Strategy
"Allstate grew from a Sears catalog insurer into a public company with 211 million policies in force. Its 2025 revenue came primarily from $60.503 billion of property and casualty insurance premiums."
Why The Allstate Corporation Wins
Allstate's competitive position rests on scale and distribution rather than a single channel. It combines Allstate exclusive agents, National General independent agents, direct sales, and protection-service businesses. The 2025 Form 10-K reports 211 million policies in force and identifies Allstate as the third-largest U.S. personal property and casualty insurer based on 2024 statutory direct premiums written.
The Allstate Corporation operates in a competitive market alongside Progressive, Berkshire Hathaway, Travelers. Analysts frequently compare The Allstate Corporation and Progressive due to their overlapping products, target markets, and strategic positioning.
Allstate is a U.S. personal property and casualty insurer launched by Sears in 1931. Led by CEO Tom Wilson, it reported $67.685 billion in 2025 revenue.
Revenue
$67.7B
Founded
1931
Employees
53K+
Market Cap
$56.5B
Key Facts
- Founded: The Allstate Corporation was established in 1931 and is headquartered in Northbrook, Illinois.
- Revenue: The Allstate Corporation had $67.7B in annual revenue (FY2025).
- Valuation: Market capitalization of approximately $56.5B.
- Scale: The Allstate Corporation employs 53,300 people globally.
- Business Model: Allstate earns most of its revenue from insurance premiums, then invests funds held before claims are paid.
- Competitive Edge: Allstate combines the Allstate exclusive-agency channel with National General independent agents and direct sales.
How Allstate Makes Money
Capital Allocation & Scaling Mechanics
Allstate earns most of its revenue from insurance premiums, then invests funds held before claims are paid. In 2025, property and casualty premiums were $60.503 billion, accident and health premiums and contract charges were $946 million, other revenue was $2.955 billion, and net investment income was $3.449 billion. Allstate Protection distributes policies through exclusive agents, independent agents, contact centers, and online under the Allstate, National General, Direct Auto, and Answer Financial brands. Protection Services includes protection plans, roadside assistance, dealer services, identity protection, and Arity mobility analytics.
What Is The Allstate Corporation's Growth Strategy?
Allstate uses Transformative Growth to expand new business across exclusive-agent, independent-agent, and direct channels. National General provides the independent-agent platform, while Protection Services seeks wider distribution for protection plans, roadside assistance, dealer products, identity protection, and Arity analytics.
How Much Revenue Does Allstate Generate?
Revenue rose from $57.094 billion in 2023 to $64.106 billion in 2024 and $67.685 billion in 2025. Net income attributable to Allstate moved from a $188 million loss in 2023 to income of $4.667 billion in 2024 and $10.282 billion in 2025. The 2025 result included a $1.603 billion gain on disposition of operations, while higher auto and homeowners policies in force and rate increases contributed to revenue growth. The Allstate Corporation is one of the largest publicly held personal lines property and casualty insurers in America, maintaining a market valuation generally above $40 billion.
| Financial Metric | Estimated Value (2026) |
|---|---|
| Market Capitalization | $56.5B |
| Employee Count | 53,300 + |
| Latest Annual Revenue | $67.7B (FY2025) |
Historical Revenue Chart
The Allstate Corporation Annual Revenue History
All figures in USD.
| Fiscal Year | Revenue Figure | YoY Change |
|---|---|---|
| FY2016 | $37.4B | N/A |
| FY2017 | $39.4B | +5.4% |
| FY2018 | $39.8B | +1.0% |
| FY2019 | $41.5B | +4.3% |
| FY2020 | $41.9B | +0.9% |
| FY2021 | $50.6B | +20.7% |
| FY2022 | $51.4B | +1.6% |
| FY2023 | $57.1B | +11.1% |
| FY2024 | $64.1B | +12.3% |
| FY2025 | $67.7B | +5.6% |
The source for each year is listed on the The Allstate Corporation financials page.
Core Strength
Allstate sells through its exclusive agents, National General's independent agents and direct channels. Its 2025 Form 10-K ranks it as the third-largest US personal property and casualty insurer by 2024 direct premiums written.
Key Weakness
Allstate has to price auto and home policies against changing claim severity, catastrophe losses and repair costs, while rate increases depend on state approval timelines.
Who Are The Allstate Corporation's Main Competitors?
Allstate competes with Progressive and Berkshire Hathaway subsidiary GEICO in personal auto insurance and with Travelers, The Hartford, and Cincinnati Financial across property and casualty lines. Allstate differs by operating exclusive-agent, independent-agent, and direct channels while also selling protection plans and mobility services. Allstate is the third-largest U.S. personal property and casualty insurer based on 2024 statutory direct premiums written. Personal-lines insurers compete on price, underwriting, claims service, distribution, and customer acquisition while managing catastrophe exposure and state-by-state rate regulation. Allstate's competitive position rests on scale and distribution rather than a single channel. It combines Allstate exclusive agents, National General independent agents, direct sales, and protection-service businesses. The 2025 Form 10-K reports 211 million policies in force and identifies Allstate as the third-largest U.S. personal property and casualty insurer based on 2024 statutory direct premiums written. Catastrophe exposure is a central risk because severe weather can increase claims, reinsurance costs, and required capital. Allstate must also obtain state approval for many rate changes, so premium adjustments can lag changes in repair costs and claim severity. Its 2025 Form 10-K also identifies privacy, cybersecurity, competition, and litigation risks.
| Top Competitors | Head-to-Head Analysis |
|---|
What Is The Allstate Corporation's Full Historical Timeline?
Historical Timeline & Strategic Pivots
Key Milestones
1931 - Allstate launches
Allstate Insurance Company opened on April 17 as a Sears mail-order auto insurer. Its first policy covered a 1930 Studebaker for $41.60 a year.
1933 - First Allstate agent booth
The first Allstate agent sold policies from a card table in the Sears Roebuck booth at Chicago's Century of Progress fair. Agents began working in Sears stores in 1934.
1939 - Risk-based auto rates introduced
Allstate began tailoring auto rates by the driver's age, mileage, and use of the car.
1947 - Illustrator Policy debuts
Allstate introduced an insurance policy that used plain language and illustrations to explain coverage.
1950 - Good Hands slogan begins
Allstate adopted the You're in good hands slogan developed by sales executive Davis Ellis.
1952 - Allstate Foundation created
Allstate established The Allstate Foundation, which initially supported driver education and community programs.
1959 - Catastrophe response plan launches
Allstate created a plan to deploy large teams of claim specialists immediately after disasters.
1967 - Headquarters moves to Northbrook
Allstate moved its headquarters to a 122-acre, six-building complex in Northbrook, Illinois.
1984 - Neighborhood Office Agent program
Allstate introduced neighborhood agent offices. By year-end, 1,582 agents worked at 944 locations.
1993 - Allstate initial public offering
Sears sold 19.8 percent of Allstate in what Allstate identifies as the largest U.S.
1995 - Full separation from Sears
Sears distributed its remaining Allstate shares to Sears shareholders, making Allstate fully independent and publicly held.
2000 - Online purchasing begins
The Good Hands Network launched in Oregon, allowing customers to buy auto insurance online, by telephone, or through an agent.
2010 - Drivewise begins
Allstate began offering Drivewise to reward low mileage and safe driving measured by a telematics device.
2011 - Esurance and Answer Financial acquired
Allstate closed its $1 billion cash purchase of the Esurance business and Answer Financial on October 7.
2017 - SquareTrade acquisition closes
Allstate completed its acquisition of consumer protection plan provider SquareTrade on January 3.
2018 - InfoArmor acquired
Allstate announced on October 5 that it had completed its acquisition of identity protection provider InfoArmor.
2020 - Shelter-in-Place Payback
Allstate returned almost $1 billion to auto customers over three months after pandemic restrictions reduced driving.
2021 - National General acquired
Allstate completed its acquisition of National General on January 4, making National General a wholly owned indirect subsidiary.
2025 - Health businesses sold
Allstate closed the employer voluntary benefits sale on April 1 and the group health sale on July 1, recording pretax gains of $888 million and $715 million.
Risks & Weaknesses
Analytical AssessmentPrimary Risk Factor
Catastrophe exposure is a central risk because severe weather can increase claims, reinsurance costs, and required capital. Allstate must also obtain state approval for many rate changes, so premium adjustments can lag changes in repair costs and claim severity. Its 2025 Form 10-K also identifies privacy, cybersecurity, competition, and litigation risks.
Risk assessment based on public filings, SWOT analysis, and verified industry data. Not financial advice.
How Did Allstate Start and Grow?
Established
1931
Fiscal Revenue (FY2025)
$67.7B
Workforce
53K+
HQ Location
Northbrook, Illinois
: The Strategic Shift That Created a Behemoth
Sears sold 19.8 percent of Allstate in the 1993 IPO and distributed its remaining shares in 1995, leaving Allstate fully independent.
Explore Allstate In Depth
Detailed research across every dimension of Allstate — history, financials, leadership, and strategy.
Company History
Allstate began by selling auto insurance through the Sears catalog and later built an agent network. The current company combines Allstate exclusive agents, National General independent agents, direct sales, and service…
Full Allstate history →Revenue & Financials
Allstate had $67.7B in revenue for fiscal year 2025. Data covers 10 fiscal years. Market capitalization stands at approximately $56B.
Allstate financials →Founders
Allstate was founded by Sears, Roebuck and Co. in 1931. Explore each founder's background, motivations, and their role in building the company.
Allstate founders →CEO & Leadership
Allstate is currently led by Tom Wilson. Explore the full CEO history — leadership transitions, tenures, and the strategic decisions of each chief executive.
Allstate CEO history →Business Model
Allstate earns most of its revenue from insurance premiums, then invests funds held before claims are paid. In 2025, property and casualty premiums were $60.503 billion, accident and health premiums and contract charges…
How Allstate makes money →Acquisitions
Allstate has completed 4 documented acquisitions. Explore the full acquisition history and strategic rationale behind each deal.
Allstate acquisitions →Competitive Strategy
Allstate uses Transformative Growth to expand new business across exclusive-agent, independent-agent, and direct channels.
Allstate strategy →Our analysts compile business strategy profiles from public financial filings, press releases, and analyst reports. Each profile is reviewed for accuracy before publication by our editorial desk and updated on a rolling basis.
Frequently Asked Questions About Allstate
What is The Allstate Corporation and where is it headquartered?
The Allstate Corporation is a publicly traded U.S. personal property and casualty insurer. Its 2025 Form 10-K lists its principal executive offices at 3100 Sanders Road in Northbrook, Illinois.
When was Allstate founded and who launched it?
Sears, Roebuck and Co. launched Allstate Insurance Company on April 17, 1931 as a mail-order auto insurer. Insurance broker Carl L. Odell proposed the direct-mail concept to Sears executive Robert E. Wood.
How does Allstate make money?
Allstate earns insurance premiums, protection-service revenue, and investment income. In 2025 it reported $60.503 billion of property and casualty premiums and $3.449 billion of net investment income.
Who is Allstate's CEO?
Tom Wilson has served as Allstate's chief executive officer since January 1, 2007 and as chair since May 2008.
What was Allstate's 2025 revenue and net income?
Allstate reported $67.685 billion in total revenue and $10.282 billion in net income attributable to Allstate for 2025. Net income applicable to common shareholders was $10.165 billion.
What is Allstate Protection Plans?
Allstate Protection Plans provides consumer product protection through retailers and mobile operators. The business traces to Allstate's January 2017 acquisition of SquareTrade, agreed at approximately $1.4 billion in cash.
Why did Allstate acquire National General?
Allstate acquired National General in January 2021 for approximately $4 billion to expand independent-agent distribution and increase its personal property and casualty market share.
How many policies and employees did Allstate report in 2025?
Allstate reported 211 million policies in force at December 31, 2025. Its workforce totaled approximately 53,300, including about 53 thousand full-time roles and 300 part-time roles.
Who started Allstate?
Allstate was originally founded in 1931 as part of Sears, Roebuck and Co., spearheaded by Sears executive General Robert E. Wood.
Analysis: How The Allstate Corporation Makes Money
Deep dive into the The Allstate Corporation business model, revenue streams, and strategic moats in 2026.
Competitor Benchmarking
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Financial data on this page is sourced from SEC EDGAR filings, official earnings releases, and verified press statements. Revenue figures are reviewed and updated periodically. Read our full data methodology ->
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Editorial Methodology
We use company filings, annual reports, company statements and press reports, with primary sources preferred where available. Each financial row shows its recorded source. Full-year figures are separated from annualized run-rates, partial periods and forecasts; unaudited figures carry a label. Source detail varies by company, so check the linked material when the reporting basis matters.
Public companies may provide filings and annual reports. Private-company figures may come from statements or press coverage. A missing figure stays missing, and a source link should identify where its number came from.
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Technical checks flag inconsistent figures and missing links. Editorial review of the underlying source remains necessary for claims those checks cannot verify.
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Sources & References
The data and narrative synthesized in this intelligence report were verified against primary sources:
- [1]SEC EDGAR: The Allstate Corporation filings search (10-K, 8-K)
- [2]The Allstate Corporation Corporate Website
- [3]The Allstate Corporation 2025 revenue figure: Allstate Corp annual report (SEC EDGAR, filed 2026-02-20)
- [4]sec.gov
- [5]allstatecorporation.com
- [6]allstatecorporation.com
- [7]allstatecorporation.com
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- [15]en.wikipedia.org
- [16]stockanalysis.com
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