While you can't shrink your way to prosperity, the tighter standards, higher rates, reduced advertising, great weather, and arbitrary RY severity adjustments stopped the bleeding...for now. Allstate brand auto policies shrunk by 1.4 million, or -6.2% in 2023. National General...for now, looks like a good acquisition, with 600,000 auto policy growth or +13.3% for the year. Lots of Protection Services focus with little in the way of profits. Sell it. Health business. Sell it. Stock is strong...again, for now. We'll see if the trend is durable or just a fleeting moment. The Workplace and culture remain a struggle for many.
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The only ones that benefit from this are Tom, Mario, and their fat cat sociopath friends making bank while they continue to play the shell game with shareholders, exploit $5 an hour Filipino labor, and layoff American workers.
We executed well for 2023. But no bonuses for the regular employees. But we will ship more of your fellow employees overseas for lower labor costs to make senior level bonuses higher.
Well done Allstate- onward and upward!
No.
So layoffs start in two weeks or no?