Allstate is one of the largest personal lines property-casualty insurers in the U.S., primarily selling auto and homeowners insurance to individual consumers. Auto insurance is the largest product line, accounting for roughly two-thirds of personal lines policies, followed by homeowners at roughly 20%. Allstate sells through three channels: over 27,400 exclusive Allstate-branded agents, roughly 58,700 independent agent locations (primarily under the National General brand), and direct-to-consumer via online, call centers, and about 500 retail stores. Allstate earns money through underwriting — collecting premiums and paying claims — targeting a mid-90s combined ratio in auto and low 90s in homeowners, plus investment income from a large portfolio funded by insurance reserves. Allstate also operates a Protection Services segment, which includes Allstate Protection Plans (warranties for consumer electronics, appliances, and mobile devices sold through major retailers), dealer vehicle service contracts, roadside assistance, identity protection, and Arity, a telematics data analytics business. Allstate's "Transformative Growth" strategy, launched in 2019, has shifted Allstate from a predominantly exclusive-agent model to a broad multi-channel distributor, while also reducing its expense ratio, expanding product offerings, and growing marketing spend. Allstate has divested its Employee Voluntary Benefits and Group Health businesses to focus on P&C insurance and protection services, and has been an active repurchaser of its own shares.