NU Online News Service, May 23, 1:16 p.m. EDT
Allstate's recently announced $1 billion acquisition of Esurance is credit-positive for Allstate and gives the insurer a platform to compete in the rapidly growing direct auto-insurance channel, according to Moody's Investors Service.
In its Weekly Credit Outlook, Moody's says, "In recent years…substantial personal-auto market share has been taken by profitable 'direct market' insurers, led by GEICO and Progressive, which bypass insurance agents and their attendant commissions but rely heavily on advertising and place business directly via the phone or Internet."
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
