The Allstate Insurance Co. was created by Sears, Roebuck in 1931 after a friend suggested to Sears head Robert Wood that his company should sell auto insurance. Allstate soon became one of its parent company's fastest growing and most profitable divisions. In its first year, the company had a staff of about 20 people. Fifty years later, still a part of Sears, Allstate employed over 40,000 people around the world. The widely recognized slogan “You're in good hands with Allstate” first was used in 1950. The company began to offer life insurance during the 1950s, and the auto insurance business continued to boom. In 1967, Allstate's headquarters moved to suburban Northbrook. During the 1970s and 1980s, when many of Sears' operations faltered, Allstate remained profitable. In 1995, Allstate finally spun off from Sears. At the beginning of the twenty-first century, Allstate continued to be a U.S. insurance industry leader. With nearly $100 billion in assets, Allstate employed close to 10,000 people in the Chicago area and over 40,000 nationwide. See also Sears, Roebuck & Co.
The Electronic Encyclopedia of Chicago © 2005 Chicago Historical Society.
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