Strong business position Favorable operating performance Strong capitalization Conservative investment portfolio and strong cash flows Unfavorable (but improving) reserve development at the property/casualty (P/C) operating subsidiaries Competitive environment in annuity market that poses a risk to revenue and operating performance in the life insurance operations [Editor's Note: The following article, originally published on March 15, 2004, is being republished to correct the values in the pie chart at the end of the article.] The issuer credit rating on Allstate Corp. (Allstate) is based on the company's strong business profile, strong operating performance, very strong capitalization, and good financial flexibility. Partially offsetting these factors are the group's recently unfavorable (but improving) reserve development patterns and uncertainties associated with its discontinued lines
