Annual Report Letter
For many years I wrote the editorial sections of the Allstate annual report, including the letter to shareholders from the chairman. Here’s the letter from 1998.
This is my first letter to shareholders as chairman, president and chief executive officer of Allstate. I welcome the opportunity to lead 53,000 of the finest employees and agents in America, whose combined efforts led to another record year for the company. 1998 was a watershed year for another reason, too: Jerry Choate, my predecessor and good friend, announced his retirement after a stellar 37-year career at Allstate. Starting as an operations supervisor in California, Jerry rose through the company and graced everything and everyone he touched with a sense of purpose and integrity. He took over as CEO in 1994 and under his stewardship the company and its shareholders thrived. From 1994 to 1998, during his leadership, we increased operating income …
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