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The insurance provider increased its revenue to $50.6 billion in 2021, enjoying a 20.7% jump from the previous year. Allstate’s strong growth came as the company reduced costs by divesting itself of $4.4 billion worth of ancillary businesses. The company also boosted its market share in the auto insurance space with its $4 billion purchase of National General. Allstate’s new-business acquisition for the year underperformed somewhat, however, with agents selling 2.5 million policies in 2021, down from 2.6 million the year before.
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