Business
Nationwide Completes Acquisition of Allstate Employer Stop Loss Business for $1.25 billion
Nationwide, one of the largest providers of insurance and financial services products in the U.S., has completed the acquisition of The Allstate Corporation's employer stop loss segment for $1.25 billion. The transaction closed in accordance with the terms of the agreement executed on Jan. 30, 2025.
About this update from Allstate Corporation (the)
[{"type":"text","content":"The business will become part of the newly formed Nationwide Group Benefits segment led by incoming leader Lindsey Murray","length":121,"tagName":"p","attribs":{}},{"type":"text","content":"COLUMBUS, Ohio, July 1, 2025 /PRNewswire/ -- Nationwide, one of the largest providers of insurance and financial services products in the U.S., has completed the acquisition of The Allstate Corporation's employer stop loss segment for $1.25 billion. The transaction closed in accordance with the terms of the agreement executed on Jan. 30, 2025.","length":349,"tagName":"p"},{"type":"image","alt":"(PRNewsfoto/Nationwide)","displaySize":"","headline":null,"caption":"(PRNewsfoto/Nationwide)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":267,"url":"https://media.zenfs.com/en/prnewswire.com/a84b19aca32c4fc84e3805722c109fcc"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/b738Ju57w9tk3rkLFNcETg--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTQ3MTtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/a84b19aca32c4fc84e3805722c109fcc","width":400,"height":267}},"href":"https://mma.prnewswire.com/media/810417/Nationwide_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":""This acquisition expands the capabilities, specialized expertise and strong partnerships of our financial services organization, positioning our company as a leading provider in the employer stop loss industry," said Nationwide CEO Kirt Walker. "As a company committed to protecting people, businesses and futures with extraordinary care, enhancing our employer stop loss segment helps us continue to meet the needs of business owners today and into the future."","length":483,"tagName":"p"},{"type":"text","content":"The transaction further strengthens and diversifies Nationwide's portfolio, expanding the company's ability to sell stop loss insurance to small businesses. Stop loss insurance protects employers who self-fund their health insurance plans from excess losses.","length":266,"tagName":"p"},{"type":"text","content":"As part of the acquisition, Lindsey Murray, the former chief operating officer of Allstate Health, has joined Nationwide and will lead the newly formed Nationwide Group Benefits segment. Murray will report to John Carter, president and COO of Nationwide Financial.","length":264,"tagName"...