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
| Year | Event |
|---|---|
| 1931 | Allstate launches |
| 1933 | First Allstate agent booth |
| 1939 | Risk-based auto rates introduced |
| 1947 | Illustrator Policy debuts |
| 1950 | Good Hands slogan begins |
| 1952 | Allstate Foundation created |
| 1959 | Catastrophe response plan launches |
| 1967 | Headquarters moves to Northbrook |
| 1984 | Neighborhood Office Agent program |
| 1993 | Allstate initial public offering |
| 1995 | Full separation from Sears |
| 2000 | Online purchasing begins |
| 2010 | Drivewise begins |
| 2011 | Esurance and Answer Financial acquired |
| 2017 | SquareTrade acquisition closes |
| 2018 | InfoArmor acquired |
| 2020 | Shelter-in-Place Payback |
| 2021 | National General acquired |
| 2025 | Health 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
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.comFirst 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.comRisk-based auto rates introduced
Allstate began tailoring auto rates by the driver's age, mileage, and use of the car.
Source: allstatecorporation.comIllustrator Policy debuts
Allstate introduced an insurance policy that used plain language and illustrations to explain coverage.
Source: allstatecorporation.comGood Hands slogan begins
Allstate adopted the You're in good hands slogan developed by sales executive Davis Ellis.
Source: allstatecorporation.comAllstate Foundation created
Allstate established The Allstate Foundation, which initially supported driver education and community programs.
Source: allstatecorporation.comCatastrophe response plan launches
Allstate created a plan to deploy large teams of claim specialists immediately after disasters.
Source: allstatecorporation.comHeadquarters moves to Northbrook
Allstate moved its headquarters to a 122-acre, six-building complex in Northbrook, Illinois.
Source: allstatecorporation.comNeighborhood Office Agent program
Allstate introduced neighborhood agent offices. By year-end, 1,582 agents worked at 944 locations.
Source: allstatecorporation.comAllstate 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.comFull separation from Sears
Sears distributed its remaining Allstate shares to Sears shareholders, making Allstate fully independent and publicly held.
Source: allstatecorporation.comOnline purchasing begins
The Good Hands Network launched in Oregon, allowing customers to buy auto insurance online, by telephone, or through an agent.
Source: allstatecorporation.comDrivewise begins
Allstate began offering Drivewise to reward low mileage and safe driving measured by a telematics device. Drivewise Mobile followed in 2014.
Source: allstatecorporation.comEsurance and Answer Financial acquired
Allstate closed its $1 billion cash purchase of the Esurance business and Answer Financial on October 7.
Source: sec.govSquareTrade acquisition closes
Allstate completed its acquisition of consumer protection plan provider SquareTrade on January 3.
Source: sec.govInfoArmor acquired
Allstate announced on October 5 that it had completed its acquisition of identity protection provider InfoArmor.
Source: sec.govShelter-in-Place Payback
Allstate returned almost $1 billion to auto customers over three months after pandemic restrictions reduced driving.
Source: allstatecorporation.comNational General acquired
Allstate completed its acquisition of National General on January 4, making National General a wholly owned indirect subsidiary.
Source: sec.govHealth 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.govMajor Acquisitions
Esurance and Answer Financial
2011Add a direct online auto insurance business and an online insurance agency alongside Allstate's agent channel.
SquareTrade
2017Add consumer electronics and appliance protection plans sold through retailers.
InfoArmor
2018Expand identity protection through employee voluntary benefit programs and Allstate Benefits distribution.
National General Holdings Corp.
2021Expand 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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