Our Company
Our story is one of change and growth, of continually improving so we can be even more effective in helping people realize their hopes and dreams.
From the very beginning, we've been more than just another insurance company. Our story began in 1931 and we haven't slowed down since. View the Allstate Story to see how we've always been a different kind of company throughout our history
Allstate's story starts with its founder, World War I General Robert Wood, Sears' president, who founded Allstate in 1931. It was the depths of the Depression, a time when America was struggling. A visionary business leader, Wood saw past the tough economic times and came up with a revolutionary idea: the increasing demand for cars created an increasing need for insurance, and he could offer that coverage via direct mail!
Allstate took its name from a successful Sears tire line and began operating from a single room at Sears headquarters.
Allstate remained a part of Sears until 1993, when it began establishing itself as an independent company. Sears sold 19.8 percent of its ownership in Allstate, making the initial public offering of Allstate stock the largest in U.S. history at the time.
On June 30, 1995, Allstate became a 100 percent independent, publicly held corporation.
Each of us has a stake in Allstate's success, and together we are creating an exciting future.