The Allstate Corporation (NYSE: ALL)

Allstate Corporation (NYSE: ALL) is one of the nation’s leading insurance companies and has been profitable in all but one of the last 15 years.

Insurance is one business that will always be in demand, with individuals and companies looking to protect themselves against catastrophes, giving insurers a degree of pricing power that other industries may not have.

Even with a reduction in driving thanks to fewer commuters and high gas prices, mandatory coverage such as home and auto insurance is still a reality, which helps protect the company even in hard times.

What makes Allstate Corp. such an attractive investment right now is its valuation. ALL is trading at a P/E ratio of 10.5, below its 10-year average of 11.9 and is well-positioned if inflation sticks around longer than expected.