Insurance Weekly reports Allstate’s acquisition of cash strapped Geico is nearing completion. This would add 2.7 million policies and roughly 306 million in yearly premium for Allstate. Huge move by Big Blue, no layoffs coming now as bodies will be needed for sure!!
10 replies (most recent on top)
False. The purported source's most recent reference to Allstate was on 11/29/2024 and it's "Allstate turns to flexible working spaces".
"In the coming months, a quarter of the insurance giant’s 54,000 corporate employees in cities like Atlanta, Tampa and Minneapolis will be able to meet up with colleagues in offices booked by the day through a coworking platform called LiquidSpace. Others will work in traditional leased space where desks have been jettisoned for cozy cafes, quiet libraries and event spaces."
Berkshire Hathaway / Warren Buffett could buy 10 Allstate corporations...not the other way around. This post is completely BS!
D-mbest sh-t read on this site
Another POWER MOVE by the BIG DOGS of insurance! And yes, definite need for “more bodies” as, you know, when when company buys another it doesn’t result is mass layoffs or anything.
That'd be the way to drag Geico down to the same level of mediocrity for sure.
306 million at 2.7 m customers is an average premium of < $115.00. Does not smell right.
Sure , the company is going to buy Geico and I’ve got some very nice Montana oceanfront properties to sell you at an extremely reasonable price. Lmao 🤣
InsuranceBusinessWeekly.com
Sure Jan
link?