History & Timeline 1990s

03/22/2007

Additional Information:
Awards and Recognition

Allstate takes a hard look at itself and decides to focus on its core competencies. Allstate becomes a 100 percent publicly owned company and sets a course for the future.

1990
The Neighborhood Exclusive Agent contract is available to agents, giving them the opportunity to be independent contractors for Allstate, managing their own businesses.

Working Mother Magazine honors Allstate as a top company for working moms in its annual list of the "100 Best Companies for Working Mothers."

1992
Hurricane Andrew hits Florida, causing $16 billion in industrywide, insured losses. At the time, it is the costliest natural disaster in U.S. history. This single event causes the industry to rethink the way it writes business in risk-prone areas.

1993
Allstate goes public when Sears sells 19.8 percent of the company, making Allstate's initial public offering the largest to date in U.S. history.

1994
The Northridge, Calif., earthquake rocks the insurance industry with a $10 billion loss.

Claim Core Process Redesign is introduced, with key claim processes targeted for redesign to help better serve customers and manage losses.

1995
Sears spins off its remaining ownership of Allstate to Sears shareholders, making Allstate an independent, 100 percent publicly held corporation.

1996
Allstate launches its consumer Web site - www.allstate.com.

A single claim service organization is created to serve all Allstate property-casualty business.

Allstate creates a national CAT (Catastrophe) Team - specialists who arrive when a catastrophe strikes to help people get their lives back in order.

1997
Allstate is recognized as one of the "50 Best Companies for Latinas to Work" by LATINA Style magazine.

1998
The Allstate Federal Savings Bank is formed to help position Allstate competitively in the financial services arena.

Allstate named to Fortune's list of "Best Companies for Asians, Blacks and Hispanics," and Forbes "World's Top 50 Companies."

1999
Allstate expands its market reach through the acquisition of CNA Personal Insurance (later renamed Encompass Insurance), American Heritage Life Investment Corporation (later renamed Allstate Workplace Division) and an alliance with Putnam Investments.

Property-liability written premium is $20.4 billion and the company provides insurance and financial products to more than 14 million households in the United States, with a workforce of some 40,000 employees and more than 15,500 agents.

Learn more about Allstate in 2000.

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History & Timeline 1990s