Insurer Allstate Corp (ALL.N) posted a quarterly profit, compared to a year-ago loss, on the back of higher premiums in its property-liability unit. The company said it was pursuing the sale of Allstate’s Health and Benefits businesses and expects a sale would likely be completed in 2024. Demand for insurance products has remained resilient in an uncertain economy and the sector is typically considered recession-proof as many policies are often guaranteed by employers, while some are mandated by the government.
Read the full article: Allstate Eyes Health, Benefits Units Sale //
Source: https://www.reuters.com/business/finance/allstate-swings-quarterly-profit-higher-premiums-eyes-health-benefits-units-sale-2023-11-01