Allstate invests in the future of Los Angeles.NORTHBROOK, Ill.--(BUSINESS WIRE)--Aug. 20, 1996--Allstate Insurance Co. invested $1.7 billion in municipal bonds in California in 1995 and paid more than $33 million in premium and other taxes, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a company report released Tuesday. In Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. , the company invested more than $195 million in bonds for projects which include multi-family housing, mass transit mass transit, public transportation systems designed to move large numbers of passengers. Types and Advantages Mass transit refers to municipal or regional public shared transportation, such as buses, streetcars, and ferries, open to all on a and economic development. The data appeared in Allstate's new community involvement report, ``Beyond the Promise,'' which describes the company's community relations 1. The relationship between military and civilian communities. 2. Those public affairs programs that address issues of interest to the general public, business, academia, veterans, Service organizations, military-related associations, and other non-news media entities. activities and lists the economic impact the company has in each state where it does business. The report noted that independent consumer marketing research indicates that Allstate is one of the largest auto and property insurers of African-Americans and Hispanic-Americans. Allstate manages a $55-billion investment portfolio, one of the largest in the insurance industry, and owns more municipal bonds than any other insurer An individual or company who, through a contractual agreement, undertakes to compensate specified losses, liability, or damages incurred by another individual. An insurer is frequently an insurance company and is also known as an underwriter. . The company attempts to leverage these funds by engaging in investment policies and practices that foster economic development in communities. Across the country, Allstate has established partnerships that focus on the issues and concerns of urban residents. The company has invested $1 billion in single and multi-family municipal bond investments, and nearly $1 billion in industry-facility municipals. Allstate, which has 1,097 agent offices in the state, insured more than 1.5 million autos and 761,000 dwellings. The company also paid out more than $1.6 billion in personal property and casualty claims last year in the state. ``What makes Allstate unique is that we attempt to reach out, through our agents, employee volunteers, financial resources and progressive policies and practices, to make life better for all Americans,'' said Jerry D. Choate, Allstate chairman and chief executive officer. ``It's our responsibility and in our best interest to go beyond the promise by building partnerships to help improve the whole community.'' One example of Allstate's commitment to the community is its leadership role in improving safety on the nation's highways. In 1960, Allstate began testing air bags and after 20 years of persistence (1) In a CRT, the time a phosphor dot remains illuminated after being energized. Long-persistence phosphors reduce flicker, but generate ghost-like images that linger on screen for a fraction of a second. , federal laws were enacted requiring that all 1998 model year cars offer air bags. Personal safety and security is another priority for Allstate and its customers. By supporting initiatives such as the American Academy The American Academy in Berlin is a non-partisan academic institution in Berlin. It was founded in September 1994 by a group of prominent Americans and Germans, among them Richard Holbrooke, Henry Kissinger, Richard von Weizsäcker, Fritz Stern and Otto Graf Lambsdorff and opened in of Pediatrics' All Kids Safe program, Allstate works to reduce violence and crime in the community. In addition to Allstate's programs, employees go beyond the promise. More than 50 percent of employees participate in over 10,000 community projects nationwide. Last year the Helping Hands committee received the Award for Excellence in Corporate Community Service from The Points of Light Foundation. ``This is more than sound economic practice. It is our investment in the future of our state and its residents,'' said Mike L. Haskell, regional vice president, Northern California Northern California, sometimes referred to as NorCal, is the northern portion of the U.S. state of California. The region contains the San Francisco Bay Area, the state capital, Sacramento; as well as the substantial natural beauty of the redwood forests, the northern . ``Allstate is committed to a long lasting partnership for progress in the state,'' added Frank Millar
Frank Millar (1925 - 13 May 2001) was a Northern Irish unionist politician. , regional vice president, Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, . Allstate Insurance Co. is the nation's second-largest personal lines insurance company, insuring one of every eight homes and automobiles in the country. The company provides insurance to more than 20 million customers and has approximately 15,000 full-time agents in the U.S. and Canada. Allstate is also a major life insurer. -0- NOTE TO EDITORS: If you need additional information or specific data on Allstate investments in your state or county, please call Elio Montenegro, Allstate Media Relations, at 847/402-0156. CONTACT: Allstate Media Relations, 847/402-5600 |
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