Latest news with #Allstate
Belfast Telegraph
3 days ago
- Business
- Belfast Telegraph
Allstate launches meet-up initiative aiming to help next generation of tech professionals in NI
The programme offers a lively platform for young people to develop vital career skills, explore emerging technology trends, and engage in discussions on important topics such as apprenticeships versus traditional university degrees. The meet-up also provides crucial networking opportunities, helping attendees forge connections within NI's thriving tech community. The inaugural event took place earlier this year at Allstate's Belfast office, attracting more than 100 participants from a broad range of local tech companies including Liberty IT, Kainos, BT and Aflac. The gathering brought together early-career professionals and students from across the region, united in their desire to learn, collaborate and grow alongside industry experts. Keynote speakers included Stephen McKeown, vice president and managing director at Allstate, and Neil Hutcheson, CEO of Software NI, who shared insights on the evolving tech landscape. Attendees also heard from Allstate graduate Lucy Doyle, who spoke about her journey from education into the workforce, as well as Max Lilleyman and Callum Mohan from Kainos, who discussed alternative pathways into tech careers. The speakers highlighted the variety of routes available in the industry, from graduate roles and placements to insight programmes and degree apprenticeships, showcasing the many opportunities for emerging talent to thrive. Stephen McKeown commented: 'At Allstate, we're proud to launch the Early Tech Talent Meet-Up, an initiative designed to connect, support, and inspire the next generation of technologists. Creating a space where emerging talent can share ideas, build networks, and learn is critical to developing a strong, innovative tech community. This is a key part of our commitment to nurturing talent and investing in the future of technology both within Allstate and across the region.' Following the formal sessions, attendees enjoyed a networking reception, fostering informal conversations and helping to build lasting professional relationships. The Early Tech Talent Meet-Up is designed to evolve with its participants, reflecting their needs and interests as they progress in their careers. Allstate plans to continue this momentum with the next event scheduled for 4 June, which will focus on AI software development, the future of AI in Northern Ireland, and practical guidance from Jordan McDonald, CEO of Intrinsic AI.
Reuters
3 days ago
- Business
- Reuters
US life insurers shifted $800 billion offshore from 2019 to 2024, Moody's says
June 2 (Reuters) - U.S. life insurers moved nearly $800 billion in reserves to offshore affiliates between 2019 and 2024, as the growth of private credit has transformed the sector and presented several risks along with it, according to a new Moody's Ratings report. As interest rates fell to near-zero between 2015 and early 2020, public life insurers took multiple approaches to maximize returns and stay competitive with their growing private credit counterparts, Moody's analysts said in a report published on Monday. These included partnering and merging with private equity firms, or alternative asset managers, in a trend that has continued in spite of now higher interest rates. Roughly $75 billion worth of life insurer-private equity M&A deals took place between 2019 and 2024, Moody's said. These included Allstate's (ALL.N), opens new tab 2021 sale of its life and annuity businesses, known now as Everlake, to entities managed by Blackstone (BX.N), opens new tab for $2.8 billion, and Brookfield Reinsurance's ( opens new tab acquisition of American National in 2022 for $5.1 billion. The trend has led life insurers and alternative asset managers to move billions of dollars from their U.S. businesses into offshore accounts in Bermuda or the Cayman Islands at a record-setting pace. They do so to free up capital to "support growth, offer more competitive pricing and returns in products such as annuities ... (and) pursue shareholder-friendly activities such as share repurchases," Moody's analysts said in the report. The U.S. life insurance industry held around $6 trillion in cash and invested assets at year-end 2024, an estimated one-third of which was allocated to private credit, according to Moody's. That follows U.S. life insurers gradually shifting larger percentages of their investment portfolios to private credit - specifically, fund finance, or credit extended to alternative asset managers to capitalize their funds. While fixed income assets such as corporate bonds and commercial real estate compose the largest share of insurers' portfolios, fund finance "will likely grow in the next three to five years based on our survey," the analysts said. Moody's pointed out several risks this evolving business model carries. A lack of transparency around the details and structure of these private credit assets makes them hard to value, the analysts said. The illiquid nature of such products also makes them riskier in a downside scenario if a company is forced to liquidate, they said.
Yahoo
4 days ago
- Business
- Yahoo
The Standard bolsters disability insurance with Expanded EvolutionIQ partnership
UK-based insurer The Standard has expanded its collaboration with insurtech company EvolutionIQ to incorporate an AI-powered claims guidance platform across its disability insurance offerings. This decision follows a successful initial implementation in 2024. The partnership allows The Standard's claims team to use data insights to reduce administrative tasks and speed up decision-making and payments, supporting claimants in focusing on their recovery. EvolutionIQ co-founder and co-CEO Michael Saltzman said: 'The Standard is a growing workplace benefits provider that has made significant investments to ensure their policyholders and claimants receive the very best outcomes along the way. We are proud to be their partner of choice. 'EvolutionIQ's rich, data-driven guidance allows The Standard's examiners to focus on claims where their expertise is most required and foster an optimal outcome for all disability claimants.' The partnership will facilitate payments and the administration of fixed-duration claims to ensure timely benefit disbursement to claimants. Additionally, the AI platform will offer guidance on each claim and assist in identifying candidates for The Standard's Workplace Possibilities programme. It includes the deployment of tools that aggregate medical data, thereby enabling claims experts to make quicker decisions on claims. The Standard claims vice-president Jeanne Ryan stated: "The Standard is committed to delivering a best-in-class customer experience and we are excited about how this technology amplifies the expertise and empathy of our people as they strive for the best possible outcome for claimants. 'While our claims experts will continue to make all claims decisions, leveraging AI helps us eliminate manual work, focus claims expertise where it is most needed and expedite the claims process.' In April, The Standard completed the acquisition of Allstate's employer voluntary benefits business in a $2bn (£1.48bn) deal. The deal included American Heritage Life Insurance Company, which will eventually operate under The Standard brand. "The Standard bolsters disability insurance with Expanded EvolutionIQ partnership " was originally created and published by Life Insurance International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Edmonton Journal
29-05-2025
- Climate
- Edmonton Journal
Does your home insurance provide an adequate weather umbrella?
Almost one in three home insurance claims over the past 10 years were from major weather or climate event, says Allstate. Water damage is one of the top reasons customers submit a home insurance claim, says Allstate Insurance Company of Canada. Photo by Courtesy, Insurance Bureau of Canada / Postmedia Reviews and recommendations are unbiased and products are independently selected. Postmedia may earn an affiliate commission from purchases made through links on this page. The numbers are startling. Weather-related insured catastrophic losses shattered a record last year. Almost one in three insurance claims are due to catastrophic weather or a climate event. If that isn't enough to be concerned about, water damage is one of the top reasons customers submit a home insurance claim, according to the Allstate Insurance Company of Canada. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Exclusive articles by David Staples, Keith Gerein and others, Oilers news from Cult of Hockey, Ask EJ Anything features, the Noon News Roundup and Under the Dome newsletters. Unlimited online access to Edmonton Journal and 15 news sites with one account. Edmonton Journal ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Support local journalism. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Exclusive articles by David Staples, Keith Gerein and others, Oilers news from Cult of Hockey, Ask EJ Anything features, the Noon News Roundup and Under the Dome newsletters. Unlimited online access to Edmonton Journal and 15 news sites with one account. Edmonton Journal ePaper, an electronic replica of the print edition to view on any device, share and comment on. Daily puzzles, including the New York Times Crossword. Support local journalism. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Allstate in-house data shows that 29 per cent of claims it received over the last 10 years — almost one in three — were from major weather or climate events. Analysis shows the number of claims due to large events was particularly high in 2024, with approximately 2.4 times more claims when compared to 2023. Meanwhile, a 2025 Léger poll conducted on behalf of Allstate Canada showed 80 per cent of Canadians who responded have a basement and one in 10 have experienced basement flooding. The poll, an online survey, was conducted with 1,000 Canadian homeowners aged 18 and over in late January 2025. 'We're seeing an increase in not only in severity but frequency of these major events across the country from fire to hail to wind and water events from a variety of different issues,' said Rob de Pruis, the Insurance Bureau of Canada's national director of consumer and industry relations. Get the latest headlines, breaking news and columns. By signing up you consent to receive the above newsletter from Postmedia Network Inc. Please try again This advertisement has not loaded yet, but your article continues below. In 2024, for the first for the first time in Canadian history, insured damage caused by severe weather events surpassed $8 billion, according to Catastrophe Indices and Quantification Inc. That broke the previous record of $6 billion from 2016, following the Fort McMurray wildfires. Further, the 2024 total is nearly triple the total of insured losses recorded in 2023 and 12 times the annual average of $701 million in the decade between 2001 and 2010. Since 2019, said the IBC, Canada has experienced a 115 per cent increase in the number of claims for personal property damage and a 485 per cent increase in the costs for repairing and replacing personal property. Water Everywhere While the single most-destructive weather event in 2024 was the August hailstorm in Calgary, that caused $3 billion in insured losses in just over an hour, flooding continued to cause significant damage in nearly every region across the country, said the Insurance Bureau of Canada. This advertisement has not loaded yet, but your article continues below. 'Large weather and climate events are affecting more Canadians more often, year after year,' added Odel Laing, agency manager at Allstate Canada. 'Insurance coverage can help people recover their homes and vehicles following a severe storm or wildfire, but the family heirlooms, photographs and other personally important items are more difficult to replace. So, taking steps to prevent or reduce the risk of damage is key.'' Further, Laing notes that basements have evolved from mere storage spaces to integral parts of many homes, now equipped with state-of-the-art entertainment systems, expensive gym equipment and valuable furniture. However, Laing said, these spaces remain highly susceptible to flooding, potentially leading to costly repairs. 'We find that sometimes it's unfortunate that at the point of making a claim that individuals realize they're not covered for a particular loss, certainly on the water side,' said Laing. 'A lot of persons sometimes assume that if you have home insurance, every peril, everything is covered.' This advertisement has not loaded yet, but your article continues below. Only 27 per cent of Canadian homeowners who responded to the Léger poll said they are very confident their home is prepared for a major weather or climate event, such as a tornado, flooding, wildfire or hail that can cause wide-spread damage. So what should a homeowner do? First, both Allstate and the IBC, said you should talk to your insurance company and find out what you're covered for and make changes as needed, and that if you've done renovations or additions, make sure your insurance company knows right away — not when you renew your policy possibly later in the year — so that they are included in your coverage. Also, sewer backup and overland flood coverage are optional add-ons, with overland flood coverage not just for those living near bodies of water as it pertains to flooding due to heavy rainfall or melting snow. There's also some simple moves anyone can make to protect their homes and valuables, Laing and de Pruis, said. Those include, but are not limited to: This advertisement has not loaded yet, but your article continues below. Elevate high-quality, expensive entertainment systems on stands or hang them on the wall. Alternatively, keep them on the main floor, if possible. Swap cardboard boxes for plastic ones for storage. Select waterproof cabinetry and shelving. Consult a professional about landscaping opportunities to direct water away from the home's foundation. Secure your property: install sump pumps, backwater valves and reinforce windows and doors to help reduce damage from floods and severe storms. Prepare for wildfires: clear dry vegetation around your home, use fire-resistant materials on your home. Cult of Hockey Local News News Edmonton Oilers Local News
Yahoo
28-05-2025
- Business
- Yahoo
Allstate Announces Quarterly Dividends
NORTHBROOK, Ill., May 28, 2025--(BUSINESS WIRE)--The Allstate Corporation (NYSE: ALL) announced that its board of directors approved a quarterly common stock dividend of $1.00 on May 28, 2025. Allstate also declared the payment of quarterly preferred dividends. Common stock dividends Allstate declared a quarterly dividend of $1.00 on each outstanding share of the corporation's common stock, payable in cash on July 1, 2025, to stockholders of record at the close of business on June 9, 2025. Preferred stock dividends Allstate also declared approximately $29.3 million in aggregate dividends on three series of preferred stock for the dividend period from April 15, 2025, through July 14, 2025. All the preferred dividends are payable in cash on July 15, 2025, to stockholders of record at the close of business on June 30, 2025, as follows: Series Annual dividend rate Quarterly amount per depositary share Series H 5.100% $0.3187500 Series I 4.750% $0.2968750 Series J 7.375% $0.4609375 Financial information, including material announcements about The Allstate Corporation, is routinely posted on View source version on Contacts Nick NottoliMedia Relations(847) 402-5600 Allister GobinInvestor Relations(847) 402-2800 Sign in to access your portfolio
