ALLIED Group, Inc. · Des Moines, IA United States
Company Description
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This link will open in a new window ALLIED Group is central to many Midwesterners. A subsidiary of multiline insurer Nationwide , the company provides a variety of property/casualty insurance products including auto, farm, and homeowners policies. ALLIED Group also offers specialized commercial policies for small to midsized businesses, along with coverage for home-based businesses. The group includes such units as AMCO Insurance, Depositors Insurance, and Allied Property and Casualty Insurance, which work through independent agents and direct-response marketing in more than 30 states in the central and western US. To read the full description, subscribe now.
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Key ALLIED Group, Inc. Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Employees | 4,700 |
ALLIED Group, Inc. Executives
6 executives listed for ALLIED Group, Inc.'s Des Moines, IA location.
| Title | Name & Bio | Contact |
| President | W. Kim Austen | Network |
| VP and CFO | Wendell Crosser | Network |
| VP Sales | DiAnna Brincks | Network |
Competition
Competitive Landscape for ALLIED Group, Inc.
Demand is driven by demographics and commercial transactions. Demand is also driven by legal or financial requirements. Consumers are usually required by states to buy auto insurance and by lenders to buy homeowners insurance, for example. The profitability of individual companies depends on effective marketing and on the ability to accurately estimate future payments. Large companies have big economies of scale in administration and in access to capital, as well as advertising and marketing. Small companies can compete successfully by specializing in particular products or industries. Average annual revenue per worker is around $400,000, so the industry is not labor-intensive. In the late 2000s recession, insurers saw revenues decline sharply when their investment portfolios lost value after the market fell. Insurance carriers rely heavily on their investment portfolios, which is where they invest premiums collected until they are needed to pay claims or benefits. In addition, deregulation of the insurance and financial services industries led to increased risk taking that hurt insurers' credit ratings. Insurance giant AIG was forced to accept $150 billion in government loans to stave off bankruptcy that was brought on by its overexposure to credit default swaps. Federal government bailouts have primarily targeted banks. Aside from AIG, insurance companies have not been as hard hit by the subprime mortgage meltdown. But some insurance companies are seeking relief from state regulators to allow them to operate with less capital. Other insurance companies are buying financial institutions to qualify for federal aid. To read the full description, subscribe now.Top ALLIED Group, Inc. Competitors
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