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Allstate has climbed 5.2% this year, the third-best performance in the 20-company Standard and Poor’s 500 Insurance Index. (AP Photo)

(Bloomberg) — Allstate Corp., the largest publicly traded U.S. home and auto insurer, helped form a freight rail-car leasing company as Chief Executive Officer Tom Wilson expands his bets on hard assets to generate better returns than bonds.

The insurer joins CC Industries and Duchossois Capital Management, which is known as DCM, in starting the venture, named Riverside Rail, the investors said Friday in a statement that didn’t disclose terms. The new company acquired 2,032 rail cars and is backed by a credit facility led by BMO Harris Bank.

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