Allstate’s Outlook Is Raised to Stable by Moody's

Allstate Corp. (ALL), the largest publicly traded U.S. auto and home insurer, had its credit outlook changed to “stable” from “negative” by Moody’s Investors Service on improved underwriting results.

“Underwriting profitability will continue to benefit from underwriting efforts over the last two years including high single-digit countrywide rate increases and non-renewal of less profitable business, particularly in the homeowners’ line,” Moody’s said today in a statement about Northbrook, Illinois- based Allstate.

To contact the reporter on this story: Noah Buhayar in New York at nbuhayar@bloomberg.net.

To contact the editor responsible for this story: Dan Kraut at dkraut2@bloomberg.net

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