History and Timeline
Allstate was founded in 1931 as part of Sears, Roebuck & Co., and became a publicly traded company in 1993. At the time, the initial public offering of Allstate was the largest in U.S. history. On June 30, 1995, it became a totally independent company after Sears divested its remaining shares to Sears stockholders.
Based in Northbrook, Illinois, Allstate is the nation's largest publicly held personal lines insurer and one of the nation's leading insurers in urban areas.
For more than 75 years, Allstate leaders, employees and agency owners have been passionate about leading positive change in this country. Serving as a consumer advocate - and an advocate for the American economy - is an integral part of Allstate's heritage. In the 1930s, Allstate was one of the first companies to create a sophisticated rate classification system, giving better rates to safe drivers; in the 1950s Allstate opened its first drive-in claim office, revolutionizing the way automobile claims are handled; in the 1960s the company helped convince the government to make seat belt use mandatory; in the 1970s and 1980s Allstate played an instrumental role in advocating the safety benefits of air bags; and in the 1990s and 2000s Allstate has continued to take a public stand on issues that are important to consumers.
Today, Allstate is reinventing protection and retirement to help consumers protect what they have and better prepare for tomorrow.
Our story begins on a fall morning in 1930, as the early morning commuter train headed for downtown Chicago. A friend suggested to Sears, Roebuck & Co. President and Board Chairman General Robert E. Wood that Sears start an auto insurance company and sell insurance by mail. It was the beginning of something big ...