Allstate sells Sterling Collision Centers, sees small after-tax gain Allstate has entered into an agreement to sell Sterling Collision Centers to Service King Collision Repair Centers. The transaction is expected to close by the end of the second quarter and result in a small after-tax gain. Allstate purchased Sterling Collision Centers in 2001. Sterling operates 62 collision-repair facilities in 16 states and has 1,200 employees.
Allstate September catastrophe losses higher than expected, says Wells Fargo Wells Fargo attributes today's move lower in Allstate to its report of September catastrophe losses that came in higher than expected. The firm lowered its Q3 EPS estimate to $1.23 from $1.56 based on the losses, but maintains its Outperform rating on the stock, calling it one of the firm's top-picks among non-life insurers.