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The people of Allstate are its most powerful
asset. In 2003, the company’s nearly 40,000 employees
continued to operate as the industry’s finest professionals.
And 12,900 agents and their staff were the trustworthy face
of Allstate in the cities where we do business. Result: They
generated a record $32.1 billion in total revenue. They managed
$134.1 billion in assets. How Allstate manages people and capital
to balance risk—whether it’s planning for a natural
disaster or for retirement—makes it a different, more
valuable company.
Risk is our business
Allstate is an industry leader at managing
risk because we never stop evolving and improving. Risk is assessed
and tracked on an individual basis, one customer at a time.
Multiply that by millions of households, and distinct patterns
emerge. Drawing on this extensive data and using its Strategic
Risk Management (SRM) tool, Allstate manages risk unlike most
in the industry. SRM’s level of sophistication pays off
for investors and customers as we can become more competitively
priced in our customer segments.
Financial
strength: the critical difference
Weather and accidents aren’t the only uncertainties in
Allstate’s business. The company has to manage for regulatory
and rate changes where it does business. It has to earn solid
returns on its investments in a recuperating, yet uncertain,
financial marketplace. It’s all part of running an efficient,
intelligent company that protects our customers and rewards
our shareholders. In 2003, total investments rose to $103 billion,
up from $91 billion in 2002.
And Allstate continued to manage capital effectively, as evidenced
by high ratings for financial stability by primary rating agencies
including A.M. Best, Moody’s and Standard & Poor’s.
The
net result: Your company is financially strong—able to
pay claims and to produce profits for investors.
The
power of people + capital
Doing all this well, and doing it consistently, helped Allstate
grow operating income per diluted share* and shareholder dividends
on a compounded annual basis by nearly 12 percent and 10 percent,
respectively, during the past decade — all while providing
financial protection for our customers today and preparing them
for tomorrow through our retirement and savings product offerings.
Building on and improving that record is the Allstate leadership
challenge for the next decade. |
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