BusinessWeek.com - Investing - Feb 10, 2010The Allstate Corporation (ALL)
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Meyer Shields
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Stifel NicolausChief Executive Officer Thomas Wilson, who appointed a marketing head and named new leaders for the company's property and life insurance units in the last six months, is refocusing on improving insurance results after reshaping the investment portfolio last year The company's $168 billion loss for all of 2008, a result of writedowns and investment losses, was the first unprofitable year for
Allstate as a public firm
"This year they can start playing a little more offense in terms of examining where the opportunities are for growth," said Meyer Shields, an analyst at Stifel Nicolaus & Co, in an interview before results were released "There is a lot less panic about their aggregate capital levels because enough of that capital has come back to really reassure people"
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Chief Executive Officer Thomas Wilson, who appointed a marketing head and named new leaders for the company's property and life insurance units in the last six months, is refocusing on improving insurance results after reshaping the investment portfolio last year The company's $168 billion loss for all of 2008, a result of writedowns and investment losses, was the first unprofitable year for <span class="company">Allstate</span> as a public firm<span class="sent"> "This year they can start playing a little more offense in terms of examining where the opportunities are for growth," said <span class="analyst">Meyer Shields</span>, an analyst at Stifel Nicolaus & Co, in an interview before results were released</span> "There is a lot less panic about their aggregate capital levels because enough of that capital has come back to really reassure people"
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