Allstate was established in 1931. A part of Sears, Roebuck & Company, it became a publicly traded firm in 1993. At the time of its launch, its initial public offering was recorded as the largest in U.S. history. Sears eventually divested all its shares in Allstate, and the insurance company became totally independent of Sears, Roebuck & Co. in June 30, 1995. Allstate Insurance Company has its headquarters in Northbrook, Illinois, and is currently the largest public company in the U.S. that markets personal insurance lines. It is also the country's leading insurance provider in urban areas.
One of the goals of Allstate's leaders, employees, partners, agents, and affiliates is to create a positive change in the lives of the people and the country as a whole. For 75 years, it has been an active consumer advocate, as well as an advocate for the country's economy. Promoting the rights of consumers is a heritage that Allstate Insurance Company is proud of. As early as the 1930's, Allstate Insurance Company has already established a highly sophisticated premium rate classification system, which has resulted in the offering of better rates to those who drive safely. In the 1950's, Allstate Insurance launched the drive-in claim office, the first of its kind, revolutionizing the way the industry handles automobile insurance claims. In the 1960s, Allstate Insurance Company took an active part in the advocacy to make wearing seatbelts a legal requirement. In the 70s and 80s, it played a key role in promoting the safety benefits of installing air bags in vehicles. Allstate Insurance Company has continued to take a public and active stand on safety issues affecting consumers. These days Allstate Insurance is working at reinventing retirement and other financial protections to help consumers secure what they currently have as they prepare for their future.
The management team of Allstate Insurance Company is headed by Chairman, CEO, and President Thomas J. Wilson, who runs the company's operations out of its headquarter in Northbrook, Illinois. The company's shared vision serves as its roadmap in reaching the company's full potential. This vision leverages the company's strengths and successes as it identifies its needs and requirements to ensure future success. The company's tagline is "You're In Good Hands with Allstate," which is a battle cry that every member in the organization embodies. The company's stock is listed in the New York Stock Exchange under the symbol ALL. At the end of 2011, the total assets of Allstate Insurance Company are at $125.6 billion. In the Fortune 500 list of the largest companies in 2012, Allstate is at number 93.
Allstate Insurance Company has a distribution network made up of over 70,000 professionals, which includes its employees, as well as the agents and brokers marketing Allstate products and services. Affirmative action is strong in Allstate with over 60% of the workforce being women and roughly 30% are members of the minority. The company's officers are 50% women and over 23% of the officers come from five different minority groups.
Its customer base is comprised of over 16 million households. Allstate Insurance Company prides itself in running exemplary corporate governance, founded on strong principles and the highest of ethical standards. This corporate governance enables the company to maintain its ability to promote sustained shareholder value.
Allstate Insurance Company embraces diversity in all its actions and decisions. The company always takes into account its diverse population of customers, employees, and agents in all the initiatives it launches. This is the same for the investments made by the company and the way it comes up with its strategies. This diversity drives the company's high performance work environment that instills personal accountability, innovative thinking, and continuous training and development. The work environment is challenging, collaborative, and fast-paced. Part of Allstate's goals is to offer a challenging work environment that will hold the interest of, and have meaning to its workforce. Efforts are rewarded, and innovations are replicated across all the offices of Allstate. All this is on top of the comprehensive and competitive compensation package.
Consumers will always have easy access to all the insurance products of Allstate Insurance Company. These products include automobile, life, property, and retirement solutions and services. Distribution is through partner agencies, independent agencies, as well as the company's own set of financial representatives. In 2011, the exclusive Allstate agencies and financial representatives numbered 12,000 operating in the U.S. and Canada. The company also offers private passenger auto insurance and homeowners insurance through the brand names Allstate, Esurance, and Encompass.