NORTHBROOK, Ill., Sept. 17 /PRNewswire/ -- The Allstate Corporation
(NYSE: ALL) announced that today it will begin a new $500 million share
repurchase program. The program is to be completed by the end of 2002.
The previous buyback program was a $2 billion program that was completed
on Sept. 5, 2001.
"This decision is a further demonstration of our confidence in the
company's strategies and direction, and our strong commitment to maximizing
shareholder value," said chairman, president, CEO Edward M. Liddy.
The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held
personal lines insurer. Widely known through the "You're In Good Hands With
Allstate(R)" slogan, Allstate provides insurance products to more than 14
million households and has approximately 13,000 exclusive agents in the U.S.
and Canada. Customers can access Allstate products and services through
Allstate agents, or in select states at allstate.com and 1-800-Allstate.
Encompass(SM) and Deerbrook(SM) Insurance brand property and casualty products
are sold exclusively through independent agents. Allstate Financial Group
includes the businesses that provide life insurance, retirement and investment
products, through Allstate agents, workplace marketing, independent agents,
banks and securities firms.
SOURCE Allstate Corporation
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