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The insurer moves up nine spots, after a year in which revenues rose 0.3%, to $44 billion, while profits trended up nicely, rising 15% from 2019. In the first quarter of 2021, Allstate announced that it was divesting some businesses (life and annuity), which resulted in a $4 billion loss in the quarter. Still, adjusted net income (excluding the divestiture) was $1.9 billion, or $6.11 per common share, “representing a 23.2% return on equity over the last 12 months,” according to the company. Allstate shareholders have certainly been “in good hands”: The stock has been on a steady upward trajectory from its pandemic lows. The insurer’s odds of climbing higher on the list next year seem assured, given its acquisition of the nearly Fortune-500-size company National General Holdings (No. 535 on our list in 2020), which closed in January 2021.
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