2775 Sanders Rd., Northbrook 60062; 847-402-5000
Web site: www.allstate.com
Founded: 1931
Employees: 53,000, 7,660 in Illinois
Year-end: Dec. 31
Foreign sales: 1 percent of $25.9 billion
Chief executive: Edward M. Liddy, 53, since January
Cash compensation: $2,497,144, down 5 percent
Options granted: $6,007,534, up 55 percent
Options, stock appreciation rights exercised: None
Shares owned: 1,024,095 of 812.5 million shares
Largest shareholder: Northern Trust Corp., 6.6 percent
Stock: 365-day close as of April 15
High: $52.37
Low: $34.75
April 15: $35.93
April 15, 1999, value of $1,000 in company stock:
Purchased 1998: $764
Purchased 1994: $3,352
Allstate Corp. is the parent of Allstate Insurance Co., the nation’s largest publicly held provider of auto, home and life insurance.
In 1998, Allstate bought the largest Canadian non-standard insurer, Pembridge Inc. In early 1999, Allstate began selling auto insurance in Japan, the first time it has sold insurance by itself in that country.
Allstate’s longtimeCEO, Jerry Choate, retired at the end of 1998. His successor, Ed Liddy, is expected to expand the insurer’s distribution channels. Analysts think he will step up acquisitions.
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A guide to the Top 100 profiles
The Tribune’s business staff profiles the Chicago area’s Top 100 public companies, based on market capitalization as of April 15. Here’s a primer on the information you’ll find:
– The CEO’s cash compensation, including bonus and other compensation paid in 1998, along with the change from the prior year.
– The figure for the CEO’s stock holdings includes shares the CEO had the right to acquire within 60 days of the proxy statement’s issuance.
– The company’s largest shareholder.
– Estimated current values of stock options granted the CEO, and the change from the prior year, as well as options and stock appreciation rights exercised during the year. In most cases, the value of options granted is based on an assumption of a 5 percent annual rate of stock price growth, or is determined using the Black-Scholes option pricing model.
– Theoretical total-return investment results for shares purchased for $1,000 a year ago and five years ago. The date on which these calculations are based is April 15. The results assume reinvestment of dividends on a quarterly basis.
– The information in the profiles was obtained from the following sources:
Company reports, including annual reports, public stock offering prospectuses and proxy statements.
Interviews with company officials.
Reports by securities analysts.
News reports.
Bridge News.
