Moody’s affirms Allstate

Moody's Investors Service said it affirmed the A3 senior debt rating of Allstate Corp.

The outlook is stable.

The agency said the affirmation reflects the group's formidable competitive position in the U.S. market for personal automobile and homeowners insurance, its excellent brand recognition, diversified revenue and earnings streams, multiple distribution channels and consistent cash flow generation.

These strengths are offset by the company's exposure to catastrophes, intense competition from direct auto insurance writers, its active capital management philosophy as well as regulatory challenges given the politically sensitive nature of the personal lines market, Moody’s said.

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