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What's happening in insurance today? From market changes and M&A activity to new coverages, the insurance industry is ever-evolving. To stay up-to-date on the business, these articles, which are updated regularly, will help insurance professionals maintain a competitive edge.
Allstate Corp. signage stands on display outside the company’s headquarters in Northbrook, Illinois, U.S., on Tuesday, Jan. 21, 2020. (Photo: Christopher Dilts/Bloomberg)(Bloomberg) — Allstate Corp., the fourth-largest auto insurer in the U.S., plans to cut 3,800 jobs as it accelerates a revamp it started last year.
The cuts and related office closures will bring a restructuring charge of about $290 million, most of which will be recognized this quarter, according to a filing Wednesday (Sept. 30). The cuts amount to about 8% of the roughly 46,000 employees it had at the end of 2019.
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