Insurance Restructuring Options Take a Giant Leap Forward

February 8, 2022 by Luann Petrellis

On March 19, 2021, in a landmark transaction, the Illinois director of insurance approved eight plans of division filed by Allstate Insurance Co. to restructure its insurance operations. This undertaking is the first of its kind and represents a significant step forward for the insurance industry to expand the application of restructuring mechanisms. Allstate’s extensive due diligence and the rigorous review by the Illinois Department of Insurance went above and beyond the statutory requirements to ensure the success of this unprecedented transaction and to adequately protect policyholders and claimants

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Originally Posted at AM Best on February 2022 by Luann Petrellis.