When Tom Wilson took over, Allstate was solidly the number 2 carrier in America.
On his watch, Allstate has dropped steadily and is now making a run towards number 4.
The only win has been stock price which was driven artificially in large part by stock buy backs and “margins” which are a thing of the past as Tommy raises rates substantially chasing them.
Nearly everyone insured by Allstate is ready to leave as soon as they get a “whiff” of the atrocious claim service.
Allstate is a mess and has reached a crossroads. Major competitors are leaps and bounds ahead in claims service, pricing and leadership.
The truth can no longer be hidden behind stock buybacks.
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Please check your numbers. Allstate has a firm hold on 4th place. Liberty Mutual is peddling hard in 5th place. With Liberty’s purchase of State Auto, they will be charging hard towards Allstate’s 4th place position.
Wilson does not care about what position Allstate is in the insurance industry. He cares about shareholder equity.