Nelson Peltz’s hedge fund Trian Fund Management has amassed a stake in insurer Allstate Corp.
ALL,
Reuters reported on Monday. The exact amount was unclear, Reuters said, citing people familiar with the matter. The move, the outlet noted, follows the Maui wildfires and five quarters of losses for the company, which Allstate has said were due to natural disasters. Allstate and Trian did not immediately return requests for comment. Shares of Allstate were up .06% after hours.
Read the full article here
