Nelson Peltz's activist hedge fund Trian Fund Management has created a stake in insurance company Allstate , according to a report from Reuters.
Allstate has struggled with the fallout from various natural disasters, the most recent of which include the Maui wildfire in Hawaii. The move could increase the pressure on CEO Tom Wilson. The company has posted five quarters of losses. Allstate shares jumped 3.8% Monday during after hours trading. — Hakyung Kim
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