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The Allstate Corporation

Company History

Allstate History: Founding, Growth & Key Milestones

Founded 1931 in Chicago, Illinois

When was Allstate founded?

Allstate was founded in 1931 in Chicago, Illinois by Sears, Roebuck and Co., making it 95 years old.

Founded
1931
Founding place
Chicago, Illinois
Founders
Sears, Roebuck and Co.
Headquarters today
Northbrook, Illinois
Milestones documented
19 (1931–2025)
Current CEO
Tom Wilson
Acquisitions
4
YearEvent
1931Allstate launches
1933First Allstate agent booth
1939Risk-based auto rates introduced
1947Illustrator Policy debuts
1950Good Hands slogan begins
1952Allstate Foundation created
1959Catastrophe response plan launches
1967Headquarters moves to Northbrook
1984Neighborhood Office Agent program
1993Allstate initial public offering
1995Full separation from Sears
2000Online purchasing begins
2010Drivewise begins
2011Esurance and Answer Financial acquired
2017SquareTrade acquisition closes
2018InfoArmor acquired
2020Shelter-in-Place Payback
2021National General acquired
2025Health businesses sold
Where was Allstate founded?
Allstate was founded in Chicago, Illinois in 1931.
Who founded Allstate?
Allstate was founded by Sears, Roebuck and Co.
When did Allstate start?
Allstate was founded in 1931.
How old is Allstate?
Allstate is 95 years old as of 2026.

Founding Story

Insurance broker Carl L. Odell proposed selling auto insurance by direct mail to Sears executive Robert E. Wood, and the Sears board approved the idea. Allstate, named for Sears tire products, opened on April 17, 1931 as a mail-order insurer. Its first policy covered a 1930 Studebaker for an annual premium of $41.60, and the first Allstate agent sold policies from a Sears booth at Chicago's 1933 Century of Progress fair.

Founders

Sears, Roebuck and Co.

Sears created Allstate Insurance Company as a subsidiary in 1931. Allstate initially sold auto insurance by direct mail through Sears catalogs, placed its first agent in a Sears booth at the 1933 Century of Progress fair, and began operating agent offices in Sears stores in 1934. (Exact birth year remains publicly undisclosed).

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.

Source: allstatecorporation.com
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.

Source: allstatecorporation.com
1939

Risk-based auto rates introduced

Allstate began tailoring auto rates by the driver's age, mileage, and use of the car.

Source: allstatecorporation.com
1947

Illustrator Policy debuts

Allstate introduced an insurance policy that used plain language and illustrations to explain coverage.

Source: allstatecorporation.com
1950

Good Hands slogan begins

Allstate adopted the You're in good hands slogan developed by sales executive Davis Ellis.

Source: allstatecorporation.com
1952

Allstate Foundation created

Allstate established The Allstate Foundation, which initially supported driver education and community programs.

Source: allstatecorporation.com
1959

Catastrophe response plan launches

Allstate created a plan to deploy large teams of claim specialists immediately after disasters.

Source: allstatecorporation.com
1967

Headquarters moves to Northbrook

Allstate moved its headquarters to a 122-acre, six-building complex in Northbrook, Illinois.

Source: allstatecorporation.com
1984

Neighborhood Office Agent program

Allstate introduced neighborhood agent offices. By year-end, 1,582 agents worked at 944 locations.

Source: allstatecorporation.com
1993

Allstate initial public offering

Sears sold 19.8 percent of Allstate in what Allstate identifies as the largest U.S. IPO to that date.

Source: allstatecorporation.com
1995

Full separation from Sears

Sears distributed its remaining Allstate shares to Sears shareholders, making Allstate fully independent and publicly held.

Source: allstatecorporation.com
2000

Online purchasing begins

The Good Hands Network launched in Oregon, allowing customers to buy auto insurance online, by telephone, or through an agent.

Source: allstatecorporation.com
2010

Drivewise begins

Allstate began offering Drivewise to reward low mileage and safe driving measured by a telematics device. Drivewise Mobile followed in 2014.

Source: allstatecorporation.com
2011

Esurance and Answer Financial acquired

Allstate closed its $1 billion cash purchase of the Esurance business and Answer Financial on October 7.

Source: sec.gov
2017

SquareTrade acquisition closes

Allstate completed its acquisition of consumer protection plan provider SquareTrade on January 3.

Source: sec.gov
2018

InfoArmor acquired

Allstate announced on October 5 that it had completed its acquisition of identity protection provider InfoArmor.

Source: sec.gov
2020

Shelter-in-Place Payback

Allstate returned almost $1 billion to auto customers over three months after pandemic restrictions reduced driving.

Source: allstatecorporation.com
2021

National General acquired

Allstate completed its acquisition of National General on January 4, making National General a wholly owned indirect subsidiary.

Source: sec.gov
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.

Source: sec.gov

Major Acquisitions

Esurance and Answer Financial

2011

Add a direct online auto insurance business and an online insurance agency alongside Allstate's agent channel.

SquareTrade

2017

Add consumer electronics and appliance protection plans sold through retailers.

InfoArmor

2018

Expand identity protection through employee voluntary benefit programs and Allstate Benefits distribution.

National General Holdings Corp.

2021

Expand independent-agent distribution and add non-standard auto and other personal property and casualty products.

Keep researching Allstate

Allstate Company History FAQ

When did Allstate open for business?

Allstate opened on April 17, 1931. Its first policy insured a 1930 Studebaker for an annual premium of $41.60, and it ended 1931 with 4,217 active auto policies.

How did Allstate initially sell insurance?

Allstate initially sold by mail through Sears catalogs. It tested an agent booth at Chicago's 1933 Century of Progress fair and began placing agents in Sears stores in 1934.

When did Allstate separate from Sears?

Sears sold 19.8 percent of Allstate in a 1993 IPO and distributed its remaining shares to Sears shareholders in June 1995, making Allstate fully independent.

When did Allstate launch Drivewise?

Allstate began offering the Drivewise telematics program in 2010 and introduced Drivewise Mobile in 2014.

What was Allstate's Shelter-in-Place Payback?

In 2020, Allstate returned almost $1 billion to auto customers over three months after pandemic restrictions reduced driving.

What businesses did Allstate sell in 2025?

Allstate sold its employer voluntary benefits business on April 1 and its group health business on July 1, recording pretax gains of $888 million and $715 million.

Did Sears own Allstate?

Yes, Allstate was famously founded in 1931 as part of Sears, Roebuck & Co., originally selling auto insurance entirely through direct mail catalogs.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.