Allstate has demonstrated it can make money. But can it grow?

Allstate recently announced a major boost to its common stock dividend, reflecting its superior financial results, particularly in personal lines auto where it is a profitability leader. The only problem is that Allstate’s auto business isn’t growing. Indeed, last year Geico and Progressive accounted for 88 percent of all new customers and 84 percent of all new revenue in auto which is why  both companies have overtaken Allstate in market share.