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NORTHBROOK, Ill. - The Allstate Corporation (NYSE: ALL) has announced the appointment of Andréa Carter as Executive Vice President and Chief Human Resources Officer, effective May 12. Carter’s role will focus on enhancing Allstate’s workforce capabilities, aiming to attract, develop, and retain talented employees globally.
Tom Wilson, Chair, President, and CEO of Allstate, remarked on the appointment, highlighting Carter’s track record in talent development and her contribution towards fostering a culture of innovation. He expressed confidence that her expertise would strengthen Allstate’s ability to deliver on customer expectations and drive company growth. The company has demonstrated strong performance, maintaining dividend payments for 33 consecutive years and achieving a 26.8% total return over the past year.
Carter brings nearly three decades of human resources experience to Allstate. Her previous position was at Global Payments Inc., where she managed global human capital strategy, talent development, and employee engagement. Her career portfolio also includes senior HR roles at several other prominent organizations, such as Habitat for Humanity, Ralph Lauren, Newell Rubbermaid, and The Home Depot.
In addition to her professional experience, Carter is currently a board member at Churchill Downs Inc. and holds a bachelor’s degree from Tennessee State University.
This move comes as part of Allstate’s broader strategy to maintain a competitive edge in the market by investing in its workforce. The information is based on a press release statement from Allstate Corp.
In other recent news, Allstate Corporation reported significant January catastrophe losses totaling $1.08 billion, primarily due to California wildfires. These losses were in line with previous estimates and included various financial impacts such as reinsurance recoveries. Alongside this, Allstate’s policies in force showed a slight decrease in auto policies by 1.3% year-over-year, while homeowners’ policies increased by 2.5%. In terms of analyst ratings, Piper Sandler maintained an Overweight rating with a $248 price target, expressing confidence in Allstate’s ability to reverse the decline in auto policies. Keefe, Bruyette & Woods reiterated an Outperform rating with a $240 target, noting stabilization in policy growth and maintaining earnings per share estimates. Raymond James also upheld a Strong Buy rating with a $240 target, despite lowering EPS forecasts due to wildfire losses and increased advertising expenses. Additionally, a lawsuit was filed by the New York Attorney General against National General and Allstate for data breaches that exposed sensitive information of over 165,000 New Yorkers. The lawsuit claims failures in data security measures and seeks penalties and an injunction against further violations.
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