Agents took a 1% Decrease in Renewal Commissions saving Allstate about 500M per year.
3700 Employees @ 100K per year average = 370M per year
Yet, Premiums continue to rise for all customers. ALL Stock will continue to respond well in the short-term. But long-term this company is in jeopardy. Responded way too late to the Geico's & Progressives. Tom Wilson will be out the door with his Sears Catalog/Playbook in his backpocket within 3-5 years.