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Allstate

Allstate is one of the largest us property-casualty insurers in the us. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 6,000 exclusive agents.

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The Allstate Corporation (NYSE:ALL) の株は、同社が雇用者任意給付事業をStanCorp Financial Group, Inc. に慣例的な条件と承認を条件に200億ドルで売却する確定取引が成立したことで上昇しています。

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As the earnings season gets underway, analysts from BofA Securities released a preview on Friday of what to expect from major insurers' fourth-quarter reports. 
The firm also took a look at how the Los Angeles area wildfires will affect the companies<a href="https://www.benzinga.com/news/legal/25/01/42953761/santa-ana-winds-return-as-la-wildfire-damage-estimates-rise-to-at-least-250-billion-fire-officials-investigate-downed-power-lines"> in the current quarter. </a>
Allstate: BofA expects Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) to report $764 million in catastrophe losses for the fourth quarter, equaling a catastrophe load of 5.5%. The firm noted that Allstate reported net catastrophe losses of $286 million in October, which included losses from Hurricane Milton, unfavorable reserve re-estimates from Hurricane Helene and losses from other inclement weather events in North America.
BofA currently sees first-quarter catastrophe losses of $1.46 billion — 10.3% catastrophe load —  which includes $700 million from the California wildfires, where the firm expects Allstate to incur more losses from the Eaton fire as compared to the Palisades fire.  
BofA Securities maintained a Buy rating on Allstate shares but lowered its price target from $285 to $279. 
Allstate is set to report its fourth-quarter financial results on Feb. 5 after the closing bell. Analysts expect the company to report earnings of $5.95 per share and revenue of $14.7 billion for the quarter.&nbsp;
Read Next: <a href="https://www.benzinga.com/general/health-care/25/01/43041254/unitedhealth-ceo-highlights-hospitals-doctors-pharmas-role-in-soaring-health-care-costs">UnitedHealth CEO Highlights Hospitals, Doctors, Pharma&#8217;s Role In Soaring Health Care Costs</a>&nbsp;
Chubb: The firm sees Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) reporting $851 million in catastrophe losses, or an 8.1% loss ratio impact, for the first quarter. Chubb was exposed to adverse weather events around the world including European flooding, Hurricane Milton and other weather events in the U.S.
BofA pointed to Chubb as a major underwriter of high-net-worth homeowners' insurance and is modeling $1.9 billion, a 17.5% catastrophe load, of first-quarter catastrophe losses for the insurer. The California wildfires account for $1.3 billion of those projected first-quarter catastrophe losses.&nbsp;&nbsp;
BofA Securities maintained an Underperform rating on Chubb and lowered its price target from $272 to $266. 
Chubb is set to report its fourth-quarter financial results on Jan. 28 after the market close. According to estimates from <a href="https://pro.benzinga.com/?gspk=YWRhbWVja2VydDUzMzY&amp;gsxid=zBMR4PKmcgBw">Benzingo Pro</a>, analysts expect the company to report earnings of $5.46 per share on revenue of $12.277 billion.&nbsp;
Progressive: The analysts expect Progressive to report $104 million in catastrophe losses in December, which would bring its fourth-quarter catastrophe losses to $340 million. 
BofA models first-quarter catastrophe losses of $584 million, including $90 million from the California wildfires, with two-thirds of those losses from the auto segment.&nbsp;
BofA Securities maintained Progressive with a Buy rating and lowered its price target from $339 to $322. 
Progressive is set to report its fourth-quarter results before the opening bell on Jan. 29. Analysts expect the company to report earnings of $3.52 per share and revenue of $18.357 billion for the quarter.&nbsp;
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Allstate, Chubb, Progressive Face Significant Losses From Wildfires, Weather Events Say Analysts Ahead Of Q4 Reports

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders often look for circumstances when the market estimation of an option diverges away from its normal worth. Abnormal amounts of trading activity could push option prices to hyperbolic or underperforming levels. 
Below are some instances of options activity happening in the Financials sector: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>C</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$80.00</td>
<td>$42.2K</td>
<td>5.8K</td>
<td>1.6K</td>
</tr>
<tr>
<td>USB</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$48.50</td>
<td>$26.0K</td>
<td>1.3K</td>
<td>1.4K</td>
</tr>
<tr>
<td>MS</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/24/25</td>
<td>$134.00</td>
<td>$26.0K</td>
<td>1.0K</td>
<td>922</td>
</tr>
<tr>
<td>FLG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>04/17/25</td>
<td>$9.00</td>
<td>$26.3K</td>
<td>3.5K</td>
<td>319</td>
</tr>
<tr>
<td>ALL</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/17/25</td>
<td>$190.00</td>
<td>$27.5K</td>
<td>1.3K</td>
<td>224</td>
</tr>
<tr>
<td>COIN</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/31/25</td>
<td>$315.00</td>
<td>$60.5K</td>
<td>144</td>
<td>174</td>
</tr>
<tr>
<td>HOOD</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$28.00</td>
<td>$46.6K</td>
<td>2.6K</td>
<td>129</td>
</tr>
<tr>
<td>GS</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>03/21/25</td>
<td>$625.00</td>
<td>$58.1K</td>
<td>3</td>
<td>61</td>
</tr>
<tr>
<td>AIG</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$62.50</td>
<td>$40.2K</td>
<td>268</td>
<td>60</td>
</tr>
<tr>
<td>JPM</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$210.00</td>
<td>$27.2K</td>
<td>5.9K</td>
<td>40</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These bullet-by-bullet explanations have been constructed using the accompanying table. 
• For C (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/C#NYSE">C</a>), we notice a call option sweep that happens to be bearish, expiring in 64 day(s) on March 21, 2025. This event was a transfer of 200 contract(s) at a $80.00 strike. This particular call needed to be split into 20 different trades to become filled. The total cost received by the writing party (or parties) was $42.2K, with a price of $211.0 per contract. There were 5897 open contracts at this strike prior to today, and today 1663 contract(s) were bought and sold. 
• Regarding USB (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), we observe a call option sweep with bearish sentiment. It expires in 1 day(s) on January 17, 2025. Parties traded 1128 contract(s) at a $48.50 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $23.0 per contract. There were 1346 open contracts at this strike prior to today, and today 1467 contract(s) were bought and sold. 
• For MS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>), we notice a call option sweep that happens to be bullish, expiring in 8 day(s) on January 24, 2025. This event was a transfer of 100 contract(s) at a $134.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $26.0K, with a price of $262.0 per contract. There were 1018 open contracts at this strike prior to today, and today 922 contract(s) were bought and sold. 
• Regarding FLG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FLG#NYSE">FLG</a>), we observe a call option trade with bearish sentiment. It expires in 91 day(s) on April 17, 2025. Parties traded 246 contract(s) at a $9.00 strike. The total cost received by the writing party (or parties) was $26.3K, with a price of $107.0 per contract. There were 3596 open contracts at this strike prior to today, and today 319 contract(s) were bought and sold. 
• For ALL (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), we notice a call option sweep that happens to be bullish, expiring in 91 day(s) on April 17, 2025. This event was a transfer of 27 contract(s) at a $190.00 strike. This particular call needed to be split into 8 different trades to become filled. The total cost received by the writing party (or parties) was $27.5K, with a price of $1020.0 per contract. There were 1342 open contracts at this strike prior to today, and today 224 contract(s) were bought and sold. 
• Regarding COIN (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COIN#NASDAQ">COIN</a>), we observe a call option trade with bullish sentiment. It expires in 15 day(s) on January 31, 2025. Parties traded 100 contract(s) at a $315.00 strike. The total cost received by the writing party (or parties) was $60.5K, with a price of $605.0 per contract. There were 144 open contracts at this strike prior to today, and today 174 contract(s) were bought and sold. 
• For HOOD (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HOOD#NASDAQ">HOOD</a>), we notice a call option trade that happens to be bullish, expiring in 1 day(s) on January 17, 2025. This event was a transfer of 25 contract(s) at a $28.00 strike. The total cost received by the writing party (or parties) was $46.6K, with a price of $1867.0 per contract. There were 2637 open contracts at this strike prior to today, and today 129 contract(s) were bought and sold. 
• For GS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GS#NYSE">GS</a>), we notice a put option sweep that happens to be bearish, expiring in 64 day(s) on March 21, 2025. This event was a transfer of 20 contract(s) at a $625.00 strike. This particular put needed to be split into 12 different trades to become filled. The total cost received by the writing party (or parties) was $58.1K, with a price of $2910.0 per contract. There were 3 open contracts at this strike prior to today, and today 61 contract(s) were bought and sold. 
• Regarding AIG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>), we observe a call option trade with bullish sentiment. It expires in 1 day(s) on January 17, 2025. Parties traded 35 contract(s) at a $62.50 strike. The total cost received by the writing party (or parties) was $40.2K, with a price of $1150.0 per contract. There were 268 open contracts at this strike prior to today, and today 60 contract(s) were bought and sold. 
• Regarding JPM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), we observe a put option trade with bearish sentiment. It expires in 365 day(s) on January 16, 2026. Parties traded 40 contract(s) at a $210.00 strike. The total cost received by the writing party (or parties) was $27.2K, with a price of $680.0 per contract. There were 5957 open contracts at this strike prior to today, and today 40 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more about unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

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COIN

HOOD

10 Financials Stocks With Whale Alerts In Today's Session

In the latest quarter, 14 analysts provided ratings for Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>), showcasing a mix of bullish and bearish perspectives.
In the table below, you'll find a summary of their recent ratings, revealing the shifting sentiments over the past 30 days and comparing them to the previous months.
<table>
<thead>
<tr>
<th></th>
<th align="right">Bullish</th>
<th align="right">Somewhat Bullish</th>
<th align="right">Indifferent</th>
<th align="right">Somewhat Bearish</th>
<th align="right">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td align="right">4</td>
<td align="right">6</td>
<td align="right">2</td>
<td align="right">2</td>
<td align="right">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
<td align="right">0</td>
<td align="right">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td align="right">3</td>
<td align="right">4</td>
<td align="right">1</td>
<td align="right">1</td>
<td align="right">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $219.07, a high estimate of $267.00, and a low estimate of $183.00. This current average has increased by 6.31% from the previous average price target of $206.07. 
<img src="https://www.benzinga.com/files/images/story/2025/1736881227_0.png" alt="price target chart" />
<h2>Understanding Analyst Ratings: A Comprehensive Breakdown</h2>
An in-depth analysis of recent analyst actions unveils how financial experts perceive Allstate. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$187.00</td>
<td>$186.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$243.00</td>
<td>$235.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$183.00</td>
<td>$187.00</td>
</tr>
<tr>
<td>Paul Newsome</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Overweight</td>
<td>$244.00</td>
<td>$206.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Goldman Sachs</td>
<td>Raises</td>
<td>Buy</td>
<td>$230.00</td>
<td>$209.00</td>
</tr>
<tr>
<td>Yaron Kinar</td>
<td>Jefferies</td>
<td>Raises</td>
<td>Buy</td>
<td>$267.00</td>
<td>$231.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$228.00</td>
<td>$220.00</td>
</tr>
<tr>
<td>Meyer Shields</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$225.00</td>
<td>$222.00</td>
</tr>
<tr>
<td>Elyse Greenspan</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$186.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Brian Meredith</td>
<td>UBS</td>
<td>Raises</td>
<td>Buy</td>
<td>$225.00</td>
<td>$216.00</td>
</tr>
<tr>
<td>Alex Scott</td>
<td>Barclays</td>
<td>Raises</td>
<td>Underweight</td>
<td>$187.00</td>
<td>$175.00</td>
</tr>
<tr>
<td>Bob Huang</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Overweight</td>
<td>$215.00</td>
<td>$202.00</td>
</tr>
<tr>
<td>Joshua Shanker</td>
<td>B of A Securities</td>
<td>Raises</td>
<td>Buy</td>
<td>$233.00</td>
<td>$216.00</td>
</tr>
<tr>
<td>Michael Zaremski</td>
<td>BMO Capital</td>
<td>Raises</td>
<td>Outperform</td>
<td>$214.00</td>
<td>$205.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts frequently update their recommendations based on evolving market conditions and company performance. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to Allstate. This information provides a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of Allstate compared to the broader market.</li>
<li>Price Targets: Analysts predict movements in price targets, offering estimates for Allstate's future value. Examining the current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Navigating through these analyst evaluations alongside other financial indicators can contribute to a holistic understanding of Allstate's market standing. Stay informed and make data-driven decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/ALL/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Allstate analyst ratings.</a>
<h2>Get to Know Allstate Better</h2>
Allstate is one of the largest us property-casualty insurers in the us. Personal auto represents the largest percentage of revenue, but the company offers homeowners insurance and other insurance products. Allstate products are sold in North America primarily by about 6,000 exclusive agents.
<h3>Financial Insights: Allstate</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Growth: Over the 3 months period, Allstate showcased positive performance, achieving a revenue growth rate of 14.69% as of 30 September, 2024. This reflects a substantial increase in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Allstate's net margin is below industry averages, indicating potential challenges in maintaining strong profitability. With a net margin of 6.98%, the company may face hurdles in effective cost management.
Return on Equity (ROE): Allstate's ROE excels beyond industry benchmarks, reaching 6.55%. This signifies robust financial management and efficient use of shareholder equity capital.
Return on Assets (ROA): Allstate's ROA is below industry averages, indicating potential challenges in efficiently utilizing assets. With an ROA of 1.05%, the company may face hurdles in achieving optimal financial returns.
Debt Management: With a high debt-to-equity ratio of 0.43, Allstate faces challenges in effectively managing its debt levels, indicating potential financial strain.
<h2>Analyst Ratings: What Are They?</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
If you want to keep track of which analysts are outperforming others, you can view updated analyst ratings along withanalyst success scores in <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Demystifying Allstate: Insights From 14 Analyst Reviews

Wells Fargo analyst Elyse Greenspan maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Equal-Weight and raises the price target from $186 to $187.

Price Target

Wells Fargo Maintains Equal-Weight on Allstate, Raises Price Target to $187

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Texas Sues Allstate, Accusing It Of Unlawfully Collecting And Selling Data About The Location And Movement Of Texans' Cellphones

California&#8217;s $10 trillion residential property market is under siege as wildfires wreak havoc across the southern part of the state.
What Happened: The fires, which have already destroyed more than 5,000 buildings, pose a potential risk to the stability of the state&#8217;s insurance market.
A report <a href="https://www.bloomberg.com/graphics/2025-los-angeles-wildfires-insurance/?srnd=homepage-americas&amp;sref=TBDibEcD">by</a> Bloomberg said that the wildfires have struck three areas identified as particularly susceptible. One of these is the Pacific Palisades neighborhood in Los Angeles.
Michael Wara,&nbsp;a senior researcher and wildfire&nbsp;expert at Stanford University told the outlet, &#8220;Pacific&nbsp;Palisades really jumps out, even&nbsp;in the context of high-risk&nbsp;areas in California.&#8221;
As of Friday, more than 57,000 structures were in severe danger, and more than 150,000 people were under evacuation.  JPMorgan Chase &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>) estimated on Thursday that the insured damages could surpass $20 billion, making it the most expensive wildfire in US history.
Also Read: <a href="https://www.benzinga.com/news/25/01/42922091/spacex-apple-airbnb-and-more-companies-pitch-in-to-support-california-residents-after-wildfires-we-want-to-help">SpaceX, Apple, Airbnb And More Companies Pitch In To Support California Residents After Wildfires: &#8216;We Want To Help&#8217;</a>
The wildfires have sparked concerns about the future of insurance for&nbsp;homes in one of the&nbsp;world&#8217;s most valuable property markets. 
"This sustainable insurance strategy is built for events like this," Michael Soller, deputy commissioner of the Department of Insurance said. "It is intended to stabilize the insurance market for the long term."
Daniel Swain, a climatologist at the University of California, Los Angeles, said, &#8220;Could a single event cause insurers to become insolvent? That&#8217;s the great fear.&#8221;
The escalating departure&nbsp;of private insurers has left&nbsp;the state-backed insurer of last&nbsp;resort, the California FAIR Plan,&nbsp;in a precarious position. 
The FAIR Plan&nbsp;could be on the hook&nbsp;for billions, as&nbsp;it estimated its own exposure&nbsp;in the larger Pacific Palisades&nbsp;area at nearly $6 billion.
According to the report, the State Farm, California's largest insurer, reduced nearly 70% of its policies in a Pacific Palisades ZIP code last year, while FAIR saw its policy count in the same area surge by 85%. 
This shift has left FAIR potentially liable for billions. As of September, the plan estimated its exposure in the broader Pacific Palisades region at nearly $6 billion. 
However, its most recent public financial report from spring of last year revealed just $200 million in surplus cash reserves and $2.5 billion in reinsurance—coverage designed to protect insurers in catastrophic scenarios—leaving a significant gap in resources.
Insurers with significant exposure to California&#8217;s homeowners' market faced sharp declines on Friday, as the devastation caused by the Los Angeles wildfires escalated.
Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) shares plunged 6%, while Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) and Travelers Companies Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) both dropped more than 3%, ranking among the biggest losers in the S&amp;P 500. Meanwhile, American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) and Progressive Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PGR#NYSE">PGR</a>) saw declines exceeding 1%.
According to JPMorgan, Allstate, Chubb, and Travelers are the insurers most exposed to the financial impact of the wildfires. The firm highlighted that Chubb&#8217;s focus on high-net-worth clientele in the region could lead to particularly elevated exposure.
Why It Matters: The current wildfires and the looming insurance crisis underscore the increasing threat of climate change. With the fires continuing largely unchecked, many are left pondering&nbsp;if this event will permanently&nbsp;alter the relationship between climate&nbsp;risk and homes in California. 
The escalating crisis not only threatens the property market but also poses a significant risk to the state&#8217;s economy.
Read Next:
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<li><a href="https://www.benzinga.com/general/entertainment/25/01/42888380/los-angeles-fires-shut-down-production-of-tv-shows-fallout-abbott-elementary-hacks-film-premieres-canceled-critics-choice-awards-delayed" target="_blank" rel="noreferrer noopener">Los Angeles Fires Shut Down Production Of TV Shows ‘Fallout,' ‘Abbott Elementary,' ‘Hacks'; Film Premieres Canceled, Critics Choice Awards Delayed</a></li>
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Image: Wikimedia Commons

California's $10 Trillion Property Market Faces Unprecedented Threat From Wildfires

Wall Street wiped out its entire post-election rally this week as mounting interest-rate fears were stoked by a red-hot labor market, surging inflation expectations and escalating geopolitical tensions ahead of Donald Trump&#8216;s <a href="https://www.benzinga.com/news/25/01/42916780/donald-trump-receives-unconditional-discharge-in-new-york-hush-money-case-will-enter-white-house-as-convicted-felon">return to the White House</a>. 
In a shortened trading week due to Thursday&#8217;s funeral for former President Jimmy Carter, market activity reached a<a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42922299/wall-street-tumbles-on-blowout-payrolls-oil-rallies-to-76-us-dollar-hits-26-month-highs-whats-driving-markets-friday"> fever pitch on Friday.</a>
The U.S. economy boasted an impressive <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42912480/us-economy-adds-256000-payrolls-in-december-as-tight-labor-market-tops-forecasts-dollar-treasury-yields-spike">256,000 nonfarm payrolls</a> in December — a figure that made the consensus economist forecast of 160,000 jobs pale in comparison. This marked the strongest employment growth since March. Additionally, the unemployment rate dropped to 4.1%, beating forecasts of 4.2%.
In simple terms, the U.S. labor market ended 2024 firing on all cylinders. While this robust performance bodes well for consumer spending, it poses a significant challenge for the Federal Reserve, which now faces mounting pressure to <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42913622/dollar-soars-to-27-month-highs-30-year-yields-hit-5-stocks-tumble-jobs-report-oil-spike-darken-feds-interest-rate-cut-hopes">keep inflation in check.</a>
Expectations for a new interest rate cut were further pushed down the road to September 2025 in reactions to new economic developments. For stocks, this represented a setback, as indices tumbled across the board.
Earlier in the week, President-elect Trump, in a one-hour speech at Mar-a-Lago, floated provocative ideas, including annexing <a href="https://www.benzinga.com/news/events/25/01/42860583/trump-floats-canada-as-51st-us-state-says-hes-ready-to-use-economic-force-to-achieve-it">Canada as a 51st state</a>, imposing stringent tariffs on Mexico and demanding NATO members increase military spending to 5% of GDP.
On Friday, the Biden administration announced <a href="https://www.benzinga.com/etfs/sector-etfs/25/01/42919047/oil-nears-80-as-us-prepares-new-russia-sanctions">new sanctions targeting Russian oil </a>giants Gazprom Neft and Surgutneftegas, shadow fleet vessels and opaque traders. These measures triggered a sharp rise in oil prices, further unsettling markets.
<h3 class="wp-block-heading">Inflation Fears Surge</h3>
Consumer inflation expectations for the next five years reached 3.3% in January 2025, hitting their highest levels since June 2008, according to <a href="https://www.benzinga.com/economics/macro-economic-events/25/01/42917321/consumer-inflation-worries-highest-since-2008-u-of-m-survey-says-wall-street-tumbles-to-2-month-lows">a University of Michigan survey</a>. Rising inflation anxiety may reflect concerns over the incoming Trump administration&#8217;s planned tariff hikes.
<h3 class="wp-block-heading">Wildfires Impact Insurers</h3>
California wildfires destroyed over 10,000 structures, intensifying pressure on property insurers like Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>). Economic losses could reach $57 billion, with insurance <a href="https://www.benzinga.com/markets/equities/25/01/42906089/california-wildfires-ignite-concerns-for-insurance-stocks-here-are-some-insurance-etfs-which-could-be-impacted">stocks under market focus.</a>
<h3 class="wp-block-heading">Rate Hike Panic</h3>
The blowout December jobs report forced Bank of America Securities to scrap expectations for further interest-rate cuts. It marks a notable U-turn from a top investment bank. Economist Aditya Bhave floated the risk of rising discussions towards interest rate cuts, should core inflation <a href="https://www.benzinga.com/analyst-ratings/analyst-color/25/01/42926956/bank-of-america-scraps-interest-rate-cut-calls-betting-markets-go-haywire-as-hiking-panic-mounts">surges above 3% again. </a>
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Image: Shutterstock

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US Labor Market Smashes Expectations, Wall Street Erases Post-Election Rally As Interest Rate Anxiety Grows: This Week In The Markets

At least 10 people have been killed in the Los Angeles fires this week, with over 9,000 structures destroyed, according to the latest estimates <a href="https://www.latimes.com/california/live/pacific-palisades-fire-updates-los-angeles">cited</a> by the L.A. Times.
What Happened: Several wildfires broke out on Tuesday and Wednesday in Los Angeles following <a href="https://www.benzinga.com/25/01/42855962/los-angeles-ventura-counties-brace-for-windstorm-as-bad-as-it-gets-for-fire-weather">a strong windstorm</a>. While officials are slowly containing the blaze, the economic damage amounts to <a href="https://www.benzinga.com/news/25/01/42922091/spacex-apple-airbnb-and-more-companies-pitch-in-to-support-california-residents-after-wildfires-we-want-to-help">the most devastating</a> in the city&#8217;s history.
The windstorm created a severe fire risk and several fires are still burning on Friday, the Los Angeles Times <a href="https://www.latimes.com/wildfires-map/?fire=palisades">reported</a>.
The blaze that began in Pacific Palisades burned over 20,000 acres of land. As of Friday, it is 8% contained.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Every kid in the US learns of the Great Chicago Fire (2,112 acres) in school and how modern building codes &amp; fire depts have made this impossible, yet both the 2023 Lahaina &amp; the current Palisades Fire crossed 17,000 acres &#8211; 8x the size! I marked up a map of Chicago to compare. <a href="https://t.co/jXiRWUosCE">pic.twitter.com/jXiRWUosCE</a>
&mdash; Shaun Cooley (@shauncooley) <a href="https://twitter.com/shauncooley/status/1877410391443255485?ref_src=twsrc%5Etfw">January 9, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<figcaption class="wp-element-caption">The fire is nearly 10 times larger than the Great Chicago Fire of 1871. Analysts project the total economic damage to range from $50 billion to $150 billion, <a href="https://www.washingtonpost.com/business/2025/01/09/los-angeles-wildfire-economic-losses/">according </a>to the Washington Post.</figcaption></figure>
The Eaton Fire in Altadena and the San Gabriel Valley has burned over 13,000 acres and is merely 3% contained. Other fires are burning north of Calabasas and near Santa Clarita.
Over 200,000 Californians were without power on Friday, <a href="https://poweroutage.us/">according </a>to Power Outage.
Experts <a href="https://www.bbc.com/news/articles/c0ewe4p9128o">attribute </a>the increase in wildfires in recent years to the effects of climate change.
Why it Matters: Several companies with operations in Los Angeles are exposed to the fires.
Shares of Edison International (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EIX#NYSE">EIX</a>), the region&#8217;s utility provider, have tumbled more than 18% since Monday. Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>), another utility provider, saw its shares sink more than 10%.
Insurance providers Chubb Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) saw their share prices deep in the red on Friday. Shares of Mercury General Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>) fell over 20%.
Also Read:
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</ul>
Image: Shutterstock

Markets

10 Dead, 9,000 Structures Damaged In Los Angeles Wildfires: The Latest

Wall Street faced heavy selling pressure in its first trading session after former President Jimmy Carter's funeral, as a series of economic developments rattled interest rate and energy markets, sparking heightened <a href="https://www.benzinga.com/markets">risk aversion among investors.</a>
The U.S. economy added 256,000 jobs in December, far exceeding expectations of a slowdown to 160,000. The unemployment rate dipped to 4.1%, defying forecasts that had anticipated it to remain at 4.2%.
This red-hot labor market data spurred traders to recalibrate their interest-rate projections. According to the CME FedWatch Tool, expectations for a rate cut have been postponed even further, with markets now fully pricing in a reduction only by September 2025.
Adding to market turmoil, oil prices — as tracked by the United States Oil Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USO#NYSE">USO</a>) — surged more than 3% to $76 per barrel after the Biden administration imposed stricter sanctions on Russian oil exports. These measures targeted major Russian oil companies, shadow fleet tankers and opaque trading networks, intensifying pressure on Moscow&#8217;s energy revenues.
Rising interest rate concerns and inflation uncertainty weighed heavily on equities. The latest University of Michigan consumer survey showed five-year inflation expectations rise to 3.3%, the highest since June 2008.
The S&amp;P 500 dropped nearly 2%, hovering around the 5,800-point level, fully erasing gains made since the election. 
Technology and small-cap stocks bore the brunt of the sell-off, with sharper declines across both sectors.
The U.S. Dollar Index (DXY) climbed to 109.70, marking its highest level since November 2022. The greenback is on track to notch its sixth consecutive weekly gain and has risen in 14 of the past 15 weeks, underscoring its dominance as a safe haven amid market turbulence.
Treasury yields climbed further as fixed-income investors braced for the possibility of persistent inflation. The 10-year Treasury yield rose seven basis points to 4.76%, nearing its late October 2023 highs.
The 30-year Treasury yield briefly touched the 5% mark, a level last seen in October 2023 and previously in August 2007.
Gold prices offered a haven for risk-averse investors, climbing 0.9% as geopolitical uncertainties mounted.
Meanwhile, Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) saw some dip-buying activity, up by 1.2%, snapping a three-day losing streak during which it shed 10% of its value. 
<h1 class="wp-block-heading">Friday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,812.53</td>
<td>-1.8%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>41,837.77</td>
<td>-1.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,744.86</td>
<td>-2.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,173.84</td>
<td>-2.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:30 p.m. ET</figcaption></figure>
According to&nbsp;<a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent010625&amp;t=be2bearmibe3na1" target="_blank" rel="noreferrer noopener">Benzinga Pro</a>&nbsp;data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) flattened at $588.43.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;was unchanged at $425.08.</li>
<li>The tech-heavy&nbsp;Invesco QQQ Trust Series&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) eased 0.1% to $514.72.</li>
<li>The&nbsp;iShares Russell 2000 ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) dipped 1% to $220.91.</li>
<li>The&nbsp;Health Care Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLV#NYSE">XLV</a>) outperformed, up 0.4%; the&nbsp;Communication Services Select Sector SPDR Fund&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) lagged, down 0.9%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Advanced Micro Devices Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>) tumbled 5% after Goldman Sachs downgraded the stock from Buy to Neutral.</li>
<li>Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) soared over 10%, <a href="https://www.benzinga.com/25/01/42912208/delta-stock-jumps-after-record-q4-earnings-and-strong-2025-outlook">following the release of stronger-than-expected fourth-quarter results</a>. Industry peers American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) rose 4% and 5%, respectively.</li>
<li>Other stocks reacting to earnings included Jefferies Financial Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JEF#NYSE">JEF</a>), down 12%; Constellation Brands Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STZ#NYSE">STZ</a>), down 16%; TD Synnex Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNX#NYSE">SNX</a>), up 6.2% and Walgreens Boots Alliance Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WBA#NASDAQ">WBA</a>), up 26%,</li>
<li>Insurance-linked stocks faced losses as damage from California&#8217;s wildfires continues to mount. Shares of American International Group Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AIG#NYSE">AIG</a>) fell nearly 2%. Meanwhile, Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Chubb Ltd. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>) plummeted by 7.4% and 4.8%, respectively.</li>
<li>Energy stocks rose in response to soaring oil prices. Chevron Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVX#NYSE">CVX</a>) soared 2%, buoyed by a bullish note from Bank of America Securities. </li>
</ul>
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Wall Street Tumbles On Blowout Payrolls, Oil Rallies To $76, US Dollar Hits 26-Month Highs: What's Driving Markets Friday?

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Shares of insurance stocks are trading lower amid California wildfires.

Keefe, Bruyette &amp; Woods analyst Meyer Shields maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Outperform and raises the price target from $235 to $243.

Keefe, Bruyette & Woods Maintains Outperform on Allstate, Raises Price Target to $243

Amid the ongoing devastation caused by wildfires in Los Angeles, Warren Buffett&#8216;s Berkshire Hathaway (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>) (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BRK#NYSE">BRK</a>), the nation&#8217;s largest property and casualty insurer, is expected to experience minimal financial impact, while other insurers face significant exposure due to its substantial presence in California&#8217;s homeowners insurance market.
What Happened: Berkshire Hathaway&nbsp;is not a major player in the California homeowners insurance market, hence the impact of the wildfires is expected to be minimal. However, other insurers like&nbsp;Mercury General Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCY#NYSE">MCY</a>),&nbsp;Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>),&nbsp;Chubb Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CB#NYSE">CB</a>), and&nbsp;Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>)&nbsp;could face substantial losses, Barron&#8217;s <a href="https://www.barrons.com/amp/articles/berkshire-hathaway-los-angeles-fire-losses-8e0e5591">reported </a>on Friday.
J.P. Morgan analyst Jimmy Bhullar&nbsp;noted on Thursday that insured losses from the fires might surpass $20 billion, setting a new record for wildfire losses in California. 
Mercury General, heavily reliant on California for its premiums, could be the most vulnerable relative to its size. The company wrote over $700 million in homeowners insurance&nbsp;premiums in the state during&nbsp;the first nine months of&nbsp;2024. Mercury&#8217;s stock fell 6.5% on Wednesday, reflecting investor concerns about its exposure to the fires.
Meanwhile,&nbsp;Berkshire Hathaway could see losses of about $600 million, a minor fraction of its insurance capital. The company might benefit from potential increases in insurance pricing following the fires.
Why It Matters: The ongoing wildfires in Los Angeles have <a href="https://www.benzinga.com/25/01/42899028/la-wildfire-damages-estimated-above-52-billion-california-property-insurance-crisis">caused extensive damage</a>, with estimates suggesting total damages could exceed $52 billion, according to&nbsp;Accuweather. More than 2,000 structures have been damaged or destroyed, with further destruction anticipated as red flag warnings persist.
The fires have ignited concerns among investors regarding the stability of <a href="https://www.benzinga.com/markets/equities/25/01/42906089/california-wildfires-ignite-concerns-for-insurance-stocks-here-are-some-insurance-etfs-which-could-be-impacted">California-based insurance stocks</a> and ETFs. The Eaton and Palisades fires alone have ravaged over 10,000 structures, leading to 10 confirmed fire-related deaths. As the crisis unfolds, insurers like&nbsp;Allstate&nbsp;and&nbsp;Travelers&nbsp;are under scrutiny, given their significant roles in the California market. The California FAIR Plan, a state-backed insurer of last resort, is also heavily involved in insuring homes in the affected areas.
Price Action: As per <a href="https://pro.benzinga.com">Benzinga Pro</a>, on Friday during pre-market hours, Berkshire Hathaway was showing minimal upward movement by 0.022% while Chubb had dropped by 3.60%, Travelers Company was down by 4.85% while Allstate fell by 6.15%. 
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Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
Representative Image via Wikimedia Commons

General

Warren Buffett's Berkshire Hathaway To Have Minimal Impact From LA Wildfires, But Insurers Like Mercury General, Chubb Face Higher Risk

California-based property and casualty insurance stocks and exchange-traded funds are in focus as the Los Angeles <a href="https://www.benzinga.com/25/01/42899953/five-dead-in-los-angeles-wildfires-utilities-face-scrutiny">wildfires</a> have wreaked havoc and ruined over 10,000 structures.
What Happened: As five fires continue to burn LA County, the Eaton and Palisades fires have caused significant damage, destroying over 10,000 structures, including homes, businesses, and smaller buildings, <a href="https://www.usatoday.com/story/news/nation/2025/01/09/los-angeles-california-wildfires-thursday-live-updates/77560180007/">reported </a>USA Today. The County of Los Angeles Department of Medical Examiner said that 10 fire-related deaths have been reported. 
Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and Travelers Companies Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) are prominent California-based property insurers. As <a href="https://www.benzinga.com/25/01/42899028/la-wildfire-damages-estimated-above-52-billion-california-property-insurance-crisis">reported</a> by Benzinga, many homes in the affected areas are insured by the state-backed insurer of last resort, the California FAIR Plan.
California&#8217;s insurance market was already in crisis before the recent wildfires. Insurers withdrew from the state due to mounting losses from increasingly frequent and severe fires. This issue was highlighted by actor James Woods, who <a href="https://twitter.com/RealJamesWoods/status/1876875152236941482">revealed </a>that his neighborhood recently lost its insurance coverage.
See Also: <a href="https://www.benzinga.com/markets/25/01/42902506/charlie-mungers-top-pick-costco-reports-strong-december-sales-analysts-expect-a-7-jump-in-january">Charlie Munger&#8217;s Top Pick Costco Reports Strong December Sales: Analysts Expect A 7% Jump In January </a>
Why It Matters: AccuWeather <a href="https://www.accuweather.com/en/blogs-webinars/california-wildfires-52-57b-damage-estimate-accuweather-report/1731718">estimates</a> the economic toll of the Southern California wildfires at a staggering $52 billion to $57 billion. This figure includes damage to property and the disruption of daily life. Chief Meteorologist Jonathan Porter warns that this could become the most devastating wildfire in California history if the fires continue to spread.
The ETFs holding Allstate and Travelers include iShares U.S. Insurance ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IAK#NYSE">IAK</a>), Invesco Dow Jones US Insurance UCITS ETF Acc (LON: INSU), and Invesco KBW Property &amp; Casualty Insurance ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KBWP#NASDAQ">KBWP</a>). These two stocks are part of the top five holdings of IAK, INSU, and KBWP, and they will be in focus as markets open on Friday.
Following are the weights of these stocks in the mentioned ETF.
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>ETFs</td>
<td>Allstate Corp (Weight)</td>
<td>Travelers Companies (Weight)</td>
</tr>
<tr>
<td>iShares U.S. Insurance ETF</td>
<td>6.33%</td>
<td>5.30%</td>
</tr>
<tr>
<td>Invesco Dow Jones US Insurance UCITS ETF Acc</td>
<td>5.31%</td>
<td>6.33%</td>
</tr>
<tr>
<td>Invesco KBW Property &amp; Casualty Insurance ETF</td>
<td>8.17%</td>
<td>8.06%</td>
</tr>
</tbody>
</table>
</figure>
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<li><a href="https://www.benzinga.com/markets/25/01/42901348/nancy-pelosis-stock-pick-palo-alto-networks-gets-a-downgrade-from-top-investment-bank-as-sector-wide">Nancy Pelosi&#8217;s Stock Pick Palo Alto Networks Gets A Downgrade From Top Investment Bank As Sector-Wide Consolidation Down-Cycle Weighs on Sentiment</a></li>
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Photo courtesy: Wikimedia

California Wildfires Ignite Concerns For Insurance Stocks: Here Are Some Insurance ETFs Which Could Be Impacted

Wildfires continue to ravage Los Angeles county on Thursday, causing billions of dollars in damage to <a href="https://www.benzinga.com/news/25/01/42894683/los-angeles-wildfires-stoke-investor-fears-edison-internationals-stock-ended-10-lower-on-wednesday-amid-concerns-over-possible-equipment-links-to-forest-fires">homes and businesses</a>. 
What To Know: Accuweather on Wednesday<a href="https://www.accuweather.com/en/blogs-webinars/california-wildfires-52-57b-damage-estimate-accuweather-report/1731718"> issued a</a> preliminary estimate of the total damage and economic loss from the Southern California wildfires to be between $52 billion and $57 billion.&nbsp;
More than 2,000 structures have been damaged or destroyed and additional damages are expected as red flag warnings continue through Thursday.&nbsp;
Read Next: <a href="https://www.benzinga.com/25/01/42878466/wildfire-rips-through-las-pacific-palisades-neighborhood-3000-acres-burned-30000-evacuated-homes-destroyed">Wildfire Rips Through LA&#8217;s Pacific Palisades Neighborhood Destroying Homes: 3,000 Acres Burned As 30,000 Residents Evacuate&nbsp;</a>
Five fires continue to burn in Los Angeles County on Thursday, with officials reporting the Palisades fire and the Eaton fire remain at zero containment,<a href="https://www.latimes.com/california/story/2025-01-08/fire-weather-fierce-winds-los-angeles"> according </a>to the Los Angeles Times.&nbsp;
"This is already one of the worst wildfires in California history. Should a large number of additional structures be burned in the coming days, it may become the worst wildfire in modern California history based on the number of structures burned and economic loss," AccuWeather Chief Meteorologist Jonathan Porter said.
California Insurance Industry: California faced an insurance crisis before the fires began, as insurers were already fleeing the state due to massive losses caused by larger and more frequent wildfires.&nbsp;
Actor James Woods highlighted the problem in a social media post, saying that a major insurance company had recently canceled the policies in his neighborhood.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Actually one of the major insurances companies canceled all the policies in our neighborhood about four months ago. <a href="https://t.co/JS03dsV9rF">https://t.co/JS03dsV9rF</a>
&mdash; James Woods (@RealJamesWoods) <a href="https://twitter.com/RealJamesWoods/status/1876875152236941482?ref_src=twsrc%5Etfw">January 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Many homes in the affected areas are insured by the state-backed insurer of last resort, the California FAIR Plan. The plans are more expensive and provide less coverage than traditional private plans.
Tim Zawacki, an insurance sector strategist at S&amp;P Global Market Intelligence,<a href="https://www.nytimes.com/2025/01/08/climate/california-homeowners-insurance-fires.html"> told The</a> New York Times the number of homes in the ZIP code affected by the Palisades fire that are enrolled in the FAIR Plan has nearly doubled over the last year.
Experts are concerned the destruction caused by the ongoing fires could exacerbate the insurance crisis in the state. Equity analysts are forecasting potential insurance industry losses of between $6 billion and $13 billion, <a href="https://www.reinsurancene.ws/analysts-peg-insured-la-wildfire-losses-at-up-to-13bn-economic-loss-put-at-more-than-52bn/">according to</a> Reinsurance News.&nbsp;
Some of the largest property insurers in California include Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>).
BMO Capital Markets analysts estimate that at around a $3.5 billion insured loss, the fires could add risk to first-quarter earnings per share estimates for reinsurers, per Reinsurance News.&nbsp;
The analysts added that a loss of more than $7 billion, would affect first-quarter earnings results across the insurance and reinsurance sector.
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Photo via Shutterstock.

LA Wildfire Damages Could Top $52 Billion As California Faces Property Insurance Crisis

A destructive wildfire continues to rage through the Pacific Palisades section of Los Angeles on Wednesday, forcing more than 30,000 people to <a href="https://www.benzinga.com/25/01/42855962/los-angeles-ventura-counties-brace-for-windstorm-as-bad-as-it-gets-for-fire-weather">evacuate the area. </a>
The Details: Before the fire started, the National Weather Service issued an alert for extreme fire conditions, including wind gusts of between 50 and 80 miles per hour, for Los Angeles County from Tuesday through Thursday.  
From Tuesday morning to Wednesday morning, the fire burned more than 3,000 acres, according to Reuters. 
The Pacific Palisades fire, 0% contained, grew to encompass more than 4.5 square miles Wednesday morning, <a href="https://weather.com/news/weather/news/2025-01-07-los-angeles-palisades-fire-santa-ana-wind-california">according</a> to the Weather Channel. Authorities expect the worst conditions through Wednesday morning with wind gusts possibly reaching 100 miles per hour. 
"This is pretty much the worst possible scenario for a firefight," David Ortiz of the Los Angeles Fire Department told KTLA-TV.
Read Next: <a href="https://www.benzinga.com/general/biotech/25/01/42854890/us-records-first-human-bird-flu-death-high-levels-of-respiratory-illnesses-vaccine-stocks-rally">US Records First Human Bird Flu Death, High Levels Of Respiratory Illnesses: Vaccine Stocks Rally&nbsp;</a>
Los Angeles Fire Chief Kristin Crowley on Tuesday said at a press conference that more than 25,000 people in 10,000 homes were threatened.
Karen Bass, mayor of Los Angeles, encouraged residents to heed warnings from officials in an early Wednesday morning post on social media.&nbsp;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Our <a href="https://twitter.com/LAFD?ref_src=twsrc%5Etfw">@LAFD</a> and <a href="https://twitter.com/LAPDHQ?ref_src=twsrc%5Etfw">@LAPDHQ</a> teams continue to work overnight to protect Angelenos affected by fires in L.A. Angelenos should be advised that the windstorm is expected to worsen through the morning and to heed local warnings, stay vigilant and stay safe. Red flag parking restrictions…
&mdash; Mayor Karen Bass (@MayorOfLA) <a href="https://twitter.com/MayorOfLA/status/1876938290395525605?ref_src=twsrc%5Etfw">January 8, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The Los Angeles Times <a href="https://www.latimes.com/california/live/pacific-palisades-fire-updates-los-angeles#p=pch-devastated-by-palisades-fire">reported</a> homes and businesses along the Pacific Coast Highway were leveled by the fire Tuesday night as high winds whipped the flames. The National Weather Service reported a gust of 99 mph near Altadena at 10:20 p.m. PT Tuesday and 84 mph at Hollywood Burbank Airport at 8:30 p.m. PT.&nbsp;
More than 160,000 power outages are reported in Los Angeles county, according to<a href="https://poweroutage.us/area/state/california"> data from </a>Poweroutage.us. Pacific Gas &amp; Electric Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PCG#NYSE">PCG</a>) currently has 5,700 customers without power. San Diego Gas &amp; Electric, a subsidiary of Sempra (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SRE#NYSE">SRE</a>), has more than 9,000 customers without electricity. 
Los Angeles International Airport is operating with minimal interruptions Wednesday morning. However, some flights have been diverted due to smoke in the area. Total delays stand at 56 with 8 cancellations reported so far on Wednesday, according to <a href="https://www.flightaware.com/live/cancelled/today/KLAX">data from </a>FlightAware. 
Delta Air Lines Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) and United Airlines Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UAL#NASDAQ">UAL</a>) are the largest airlines with flights out of LAX and could face operations disruptions in the coming days.
California Gov. Gavin Newsom toured part of the affected area in Pacific Palisades on Tuesday.
"Not a few — many structures already destroyed," Newsom said. 
Precise damage estimates will only be available after a thorough assessment once the fire is contained. Some of the largest property insurers in California include Allstate Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and The Travelers Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRV#NYSE">TRV</a>) and could face increased claims resulting from fire damage. 
President Joe Biden announced Tuesday that a federal grant had been approved to reimburse California for the fire response. 
&#8220;I have offered any federal assistance that is needed to help suppress the terrible Pacific Palisades fire,&#8221; Biden said in a statement.
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Image: Shutterstock

Travel

Wildfire Rips Through LA's Pacific Palisades Neighborhood Destroying Homes: 3,000 Acres Burned As 30,000 Residents Evacuate

Barclays analyst Alex Scott maintains Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) with a Underweight and lowers the price target from $187 to $183.

Barclays Maintains Underweight on Allstate, Lowers Price Target to $183

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.31% on an annualized basis producing an average annual return of 12.87%. Currently, Allstate has a market capitalization of $51.12 billion. 
Buying $100 In ALL: If an investor had bought $100 of ALL stock 15 years ago, it would be worth $614.90 today based on a price of $193.05 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1735937592_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Here's How Much $100 Invested In Allstate 15 Years Ago Would Be Worth Today

In the wake of the New Year&#8217;s Day <a href="https://www.benzinga.com/media/25/01/42756901/10-killed-dozens-hurt-in-new-orleans-terrorist-attack-truck-drives-into-bourbon-street-new-years-crowd">attack in New Orleans</a> that killed at least 15 and injured dozens, Allstate Sugar Bowl officials said the decision to postpone the game&nbsp;to Thursday at 4 p.m. ET will enable security teams to increase their coverage around the city and especially at the Caesars Superdome.
Allstate Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) and security officials did not specify what the new measures entail. Wednesday&#8217;s postponement was a first in the 91-year history of the Sugar Bowl; officials said &#8220;it was the prudent move.&#8221; The organization said they made the decision &#8220;in coordination with federal, state, and local authorities as well as the two universities, Caesars Superdome and ESPN.&#8221;
"Public safety is paramount," Sugar Bowl CEO Jeff Hundley said at a media briefing alongside federal, state and local officials, including Louisiana Gov. Jeff Landry and New Orleans Mayor LaToya Cantrell. "All parties all agree that it's in the best interest of everybody and public safety that we postpone the game," <a href="https://apnews.com/article/sugar-bowl-mass-casualty-650b5773a37f0eaa2b03f4412c835674">reported</a> the Associated Press.
Walt Disney Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIS#NYSE">DIS</a>)-owned ESPN will televise the game, which was initially postponed 24 hours, but both Georgia and Notre Dame requested an earlier start time, <a href="https://www.nola.com/news/crime_police/sugar-bowl-security-bourbon-attack/article_c12b8f2e-c8dc-11ef-9cd9-e73164410f4d.html#tncms-source=featured-2">according</a> to the Times Picayune. 
The postponement meant that many fans holding tickets would not be able to attend the game. Ticket prices online plummeted in some cases to less than $25 as fans were holding them and needed to leave NOLA on Thursday, &#8220;tried to unload them,&#8221; according to the local news outlet.
Both Delta Air Lines Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DAL#NYSE">DAL</a>) and Southwest Airlines Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) are waiving certain fees for travelers affected by the terror attack, allowing flexible rebooking options, <a href="https://www.fox5atlanta.com/news/attack-new-orleans-delta-air-lines-waives-fees-some-passengers-changing-flights">reported</a> Fox5.
<h1 class="wp-block-heading">Notre Dame Coach Speaks</h1>
"What I told the team is in the toughest moments, the culture of any program, of a nation, is revealed," Notre Dame coach Marcus Freeman <a href="https://www.youtube.com/watch?v=OMmZnmWP75A">told</a> ESPN's Scott Van Pelt on Wednesday&#8217;s SportsCenter. "I have a lot of faith this country will rally around the city of New Orleans and support all the victims and families that were affected today."
Van Pelt asked how he and the team prepared for the game in their first meeting following the tragedy in NOLA. &#8220;The first part of that meeting was to mourn and pray for our country. But the end of the meeting was to redirect our focus to preparing for this game,&#8221; Freeman replied.
The Sugar Bowl has been played annually in New Orleans on New Year&#8217;s Eve or New Year&#8217;s Day since 1935.  The Superdome, of which Caesars Entertainment Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CZR#NASDAQ">CZR</a>) holds the naming rights, has been hosting the Sugar Bowl every year since it was built in 1975, with the exception of 2006 when Hurricane Katrina damaged the facility.
Photo: Shutterstock

Sports

Events

New Orleans Beefs Up Security Ahead Of Sugar Bowl, Tickets Plummet To $25 As Fans Leave Town

Allstate (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) has outperformed the market over the past 15 years by 1.46% on an annualized basis producing an average annual return of 13.4%. Currently, Allstate has a market capitalization of $51.91 billion. 
Buying $1000 In ALL: If an investor had bought $1000 of ALL stock 15 years ago, it would be worth $6,650.83 today based on a price of $196.02 for ALL at the time of writing.
<h3>Allstate's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1734382815_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Allstate 15 Years Ago Would Be Worth This Much Today

Allstate's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) short percent of float has risen 3.53% since its last report. The company recently reported that it has 2.02 million shares sold short, which is 0.88% of all regular shares that are available for trading. Based on its trading volume, it would take traders 1.39 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>Allstate Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732720511_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for Allstate has grown since its last report. This does not mean that the stock is going to fall in the near-term but traders should be aware that more shares are being shorted.
<h3>Comparing Allstate's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, Allstate's peer group average for short interest as a percentage of float is 2.00%, which means the company has less short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Short Ideas

(ALL) - Analyzing Allstate's Short Interest

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LA Fires: Minimal Additional Downside On Insurance Stocks And Maybe Soon A Buying Opportunity

Jefferies says that although the raging Los Angeles fires are "likely to be among the most destructive in US history," the firm expects industry lo...

LA fires 'likely manageable earnings event' for insurers, says Jefferies

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Two Top Insurance Stocks: Generate Value

Our Top 10 High-Growth Dividend Stocks -- January 2025

ALSN

AVGO

KNSL

Press Releases

Allstate and Arlo Team Up to Boost Home Protection Just in Time for The Holidays

Allstate Health Solutions Partners with Intuit QuickBooks, Thatch and Ambetter Health to Provide Expanded Healthcare Offering

Allstate Announces Quarterly Dividend Payable Jan. 2, 2025

Allstate CEO to Present at Goldman Sachs 2024 U.S. Financial Services Conference

Allstate Announces October 2024 Catastrophe Losses

Allstate Announces Preferred Dividends Payable on Jan. 15, 2025

Nick Dawkins Named 2024 Allstate Wuerffel Trophy Recipient and Allstate AFCA Good Works Team Captain

Allstate to Hold Q4 2024 Earnings Call Feb. 6

Allstate Helping Southern California Customers, Communities Recover from Wildfires

ARLO

Arch Capital Group

American Financial Group, Inc. Common Stock

American Finl Gr

Assured Guaranty

Assurant

Axis Capital Holdings Limited Common Stock

Axis Capital Holdings

Cincinnati Financial Corporation - Common Stock

Cincinnati Financial

CNA Financial

Erie Indemnity Company - Class A Common Stock

Erie Indemnity

First American Corporation (New) Common Stock

First American Financial

FNF Group of Fidelity National Financial, Inc. Common Stock

Fidelity National Finl

Hartford Financial Services Group, Inc. (The) Common Stock

Hartford Finl Servs Gr

Kemper

Kinsale Cap Gr

Loews

Mercury General

Markel Group

Old Republic International Corporation Common Stock

Old Republic Intl

Progressive Corporation (The) Common Stock

Progressive

Palomar Hldgs

Selective Insurance Group, Inc. - Common Stock

Selective Insurance Gr

Hanover Insurance Gr

The Travelers Companies, Inc. Common Stock

Travelers Companies

WR Berkley

White Mountains Insurance Group, Ltd. Common Stock

White Mountains Insurance

Wells Fargo

Keefe, Bruyette & Woods

Barclays

Piper Sandler

Goldman Sachs

The Allstate Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALL#NYSE">ALL</a>) の株は、同社が雇用者任意給付事業をStanCorp Financial Group, Inc. に慣例的な条件と承認を条件に200億ドルで売却する確定取引が成立したことで上昇しています。
この売却により、6億ドルの利益が生まれ、1.6兆ドルのデプロイ可能資本が増加すると予想されています。
Allstateは、売却後、自己資本利益率の調整後純利益が約100ベーシスポイント減少すると予想しています。この取引は2025年上半期に締結される見込みです。
この売却は、Allstateが雇用者任意給付、個人の健康、および集団の健康事業を、追加機能を提供する企業と統合することで成長を促進するという戦略の最初の段階です。
また、両社は製品販売のパートナーシップを結成します。この提携の下、The StandardはAllstateの代理店を通じて販売される団体生命、障害、およびその他の給付を独占的に担当し、<a href="https://www.benzinga.com/pressreleases/24/08/b40354955/the-standard-to-acquire-allstate-employer-voluntary-benefits-business-companies-announce-distribut" target="_blank" rel="noreferrer noopener">信頼できるグループの給付パートナーとなります。</a>
The Allstate Corporationの会長、社長兼最高経営責任者であるトム・ウィルソン氏は「Allstateの雇用者任意給付事業は、今後もThe Standardによって十分に対応される、350万人以上の顧客に保護を提供しています。AllstateとThe Standardの業界をリードする製品提供、雇用主との関係、販売および優秀なチームとの調整は、顧客により幅広い保護とより高い価値を提供します」とコメントしています。
「資本を展開して個人の財産および責任の保険の市場シェアを拡大し、保護を提供するため、Allstateの株主にも利益がもたらされます。個別の健康事業と集団の健康事業の売却に関する議論は続いており、同じく成功を収めることが期待されています。」
過去12か月間でAllstateの株は60％以上上昇しました。投資家は、Invesco KBW Property＆Casualty Insurance ETF（NASDAQ:KBWP）および iShares 米国保険 ETF（NYSE:IAK）を通じて同社の株に投資することができます。
株価の動き：ALLの株は、最終チェック時点の本日のプレマーケットで1.68％高の174.85ドルで取引を終えています。
免責事項：水曜日の最終チェック時点でALLの株が1.68％上昇し、174.85ドルです。
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最新ニュース Allstate (NYSE:ALL) 株価情報

水曜日, 8 14, 2024

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