Allstate has announced its intent to expand its homeowners insurance line, leveraging all three of its distribution channels, as other insurers retreat from the market due to increasing weather-related losses and inflation. During a recent earnings call, company officials highlighted a nearly 11% increase in net written premiums and a 2.5% rise in policies-in-force for the homeowners segment. Allstate CEO Tom Wilson noted the company’s readiness to capitalize on growth opportunities, particularly by engaging with independent agents and enhancing its direct sales approach. The company will focus its expansion efforts mainly in regions outside of Florida and California, where it aims to maintain a favorable combined ratio and profitable margins.
