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Allstate CEO Says Investing in Long Bonds ‘Not Worth the Risk’

Feb. 11 (Bloomberg) -- Allstate Corp. Chief Executive Officer Thomas Wilson reiterated his plan to invest in hard assets such as toll roads and hotels as he scales back on bonds with longer term maturities amid near record-low interest rates.

“We think investing in long bonds today is just not worth the risk,” Wilson, who leads the largest publicly traded U.S. auto and home insurer, said today in an interview with Stephanie Ruhle on Bloomberg Television’s “Market Makers” program.

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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