Company Overview of Allstate Life Insurance Company
Allstate Life Insurance Company, together with its subsidiaries, provides life insurance, retirement, and investment products. It offers interest-sensitive, traditional, and variable life insurance products; fixed annuities, such as deferred and immediate annuities; and voluntary accident and health insurance products. The company also provides funding agreements to unaffiliated trusts that use them to back medium-term notes issued to institutional and individual investors. Allstate Life Insurance Company sells its products to individuals through multiple intermediary distribution channels, including Allstate exclusive agencies and exclusive financial specialists; independent agents; and spe...
3100 Sanders Road
Northbrook, IL 60062
Founded in 1957
Key Executives for Allstate Life Insurance Company
Director and President of Allstate Auto
President of Allstate Protection
Compensation as of Fiscal Year 2013.
Allstate Life Insurance Company Key Developments
Allstate Life Insurance Company Reports Consolidated Earnings Results for the Year Ended December 31, 2012
Feb 11 13
Allstate Life Insurance Company reported consolidated earnings results for the year ended December 31, 2012. For the year, the company reported net income of $426 million on revenues of $4,203 million compared to net income of $469 million on revenues of $4,659 million for the prior year. Income from operations before income tax expense was $605 million against $694 million of prior year. Return on share holders equity was 6.4% against 8.2% of prior year.
Allstate Life Insurance Company, Allstate Insurance Company, and The Allstate Corporation Enter into a Credit Agreement
May 3 12
On April 27, 2012, Allstate Life Insurance Company, Allstate Insurance Company, and The Allstate Corporation entered into a credit agreement with the lenders party thereto; Wells Fargo Bank, National Association, as Syndication Agent; Citibank, N.A. and Bank of America, N.A., as Documentation Agents; and JPMorgan Chase Bank, N.A., as Administrative Agent. The Credit Agreement is a new $1.00 billion unsecured revolving credit facility with an initial term of five years expiring in April 2017 with two one year extensions that can be exercised in the first and second year of the facility upon approval of existing or replacement lenders. The term extensions only bind the lenders who vote to approve the extensions, but the Borrowers have the option to add additional lenders if the facility is not fully subscribed for the additional terms. The Credit Agreement also contains an increase provision that would make up to an additional $500 million available for borrowing. The facility is fully subscribed among 12 lenders with the large commitment being $115 million. The commitments of the lenders are several and no lender is responsible for any other lender's commitment if such lender fails to make a loan under the facility. The Credit Agreement includes a financial covenant requiring that The Allstate Corporation's debt to capitalization ratio as defined in the Credit Agreement not exceed 37.5%. Although the right to borrow under the facility is not subject to a minimum rating requirement, the costs of maintaining the facility and borrowing under it are based on the ratings of The Allstate Corporation's senior unsecured, unguaranteed long-term debt. The Credit Agreement replaced a $1.00 billion unsecured five-year revolving credit facility dated May 8, 2007 among the Borrowers; the agents and lenders party thereto; and JPMorgan Chase Bank, N.A., as Administrative Agent. The 2007 Credit Agreement was terminated on April 27, 2012. The company had the option to terminate the 2007 Credit Agreement early and no material termination penalties were incurred.
Allstate Life Insurance Company Reports Consolidated Earnings Results for the Year Ended December 31, 2011
Feb 6 12
Allstate Life Insurance Company reported consolidated earnings results for the year ended December 31, 2011. For the period, the company reported revenue of $4,659 million against $3,830 million a year ago. Income from operations before income tax expense was $681 million against loss from operations before income tax expense of $66 million a year ago. Net income $460 million against net loss of $28 million a year ago. Operating Income was $388 million against $387 million a year ago. Return on equity was 7.7% against negative return on equity of 0.6% a year ago.
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