Allstate Seeks Agency Owners in Mid-Atlantic, Northeastern U.S.

Allstate is making a major push into markets of major cities in the Mid-Atlantic and Northeastern regions of the U.S. with recruitment of hundreds of small business owners and contractors, according to the insurer.

In the Mid-Atlantic region, the insurer announced yesterday that it is recruiting 56 small business owners to operate Allstate agencies in Maryland, West Virginia, Delaware and the District of Columbia. Allstate announced last week that it is seeking to fill 140 spots for agency owners in Connecticut, Maine, New Hampshire, Pennsylvania, Rhode Island and Vermont.

Hired agency owners will also be looking for licensed agents to work under them, according to the insurer, which added that as many as 400 spots are available for such contractors in the Mid-Atlantic region and 150 in the Northeastern region.

“We see a significant opportunity in the current economy to attract midcareer, midlevel entrepreneurs to manage and operate their own small businesses and represent Allstate,” Jim Twitty, Allstate strategic deployment leader, said in a statement.

The insurance provider also said it was targeting specific metro areas in the Mid-Atlantic region—including Baltimore; Roanoke, Va.; Morgantown, W.Va.; and Washington, D.C.—that “represent key elements in Allstate’s broader strategy to aggressively expand the provider’s auto insurance presence in the region.”

Insurer Reported Rising Profits, Re-elected Chairman This Month

Earlier this month, Allstate reported first-quarter finances that showed a 46 percent rise in profits from the same period last year.

Yesterday, Allstate shareholders re-elected CEO Thomas J. Wilson as chairman with a strong 97 percent of the vote at the company’s annual meeting in Northbrook, Ill. Wilson reviewed Allstate’s major events in the past year, including acquisition of Esurance in October 2011 that he said was meant to make the insurer more competitive against GEICO and Progressive.

“Over the last seven months, we have made good progress in both growing and improving [Esurance],” Wilson said at the meeting, where he added that Allstate launched its Esurance advertising campaign in December.

Insurers in Race for National Auto Market Share

With about $17.45 billion in written premiums and 10.32 percent of the U.S. personal auto insurance market share, Allstate is the second-largest provider in the nation, according to recent data from the National Association of Insurance Commissioners (NAIC).

State Farm holds the largest dollar amount of premiums, writing more than double Allstate’s amount, at $31.5 billion, but GEICO and Progressive follow Allstate closer in the rankings.

GEICO, managed by the Berkshire Hathaway Group, holds 9.07 percent of market share with $15.3 billion in total premiums. Progressive, popularized with its emphasis on providing online insurance directly to consumers, has $13.4 billion in total premiums and 7.94 percent of the market share, according to the NAIC.

About Charles Nguyen
Charles Nguyen is an enterprising journalist who reported for Patch.com and the Desert Dispatch and was the editor in chief of the Guardian (the twice-weekly newspaper at the University of California, San Diego) before coming to Online Auto Insurance News.

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