NORTHBROOK, Ill., Oct. 22 /PRNewswire/ -- The Allstate Corporation today
announced it has completed the sale of Pembridge Insurance Services
Corporation (Pembridge), a property casualty insurer in Chicago, to Queensway
Financial Holdings, Toronto. Pembridge, is a subsidiary of Pembridge, Inc.,
which Allstate purchased in April 1998.
Pembridge, through its subsidiary, Pembridge General Insurance Co.,
specializes in taxi and commercial automobile insurance, nonstandard auto, and
specialty commercial property/casualty insurance. Direct written premium
totaled $14.4 million for 1997 and was written substantially in the greater
Chicago area.
The companies will become subsidiaries of Queensway's North Pointe
Financial Service Group.
Queensway is a financial services holding company specializing in
insuring personal and commercial automobile risks in Canada and the United
States, and commercial liability, medical malpractice and property risks in
the United States.
The Allstate Corporation, parent of Allstate Insurance Company, is the
nation's largest publicly held personal lines insurance company, insuring one
of every eight autos and homes in the country. Allstate is also a major
life insurer. The company provides insurance for more than 20 million
customers and has more than 15,000 agents in the U.S. and Canada.
SOURCE Allstate Life Insurance Company
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