The Allstate Corporation has completed the sale of its Group Health business to Nationwide for $1.25 billion. According to Tom Wilson, Chair, President, and CEO of The Allstate Corporation, the transaction provides significant shareholder value and enhances growth opportunities by integrating with Nationwide's stop-loss insurance business. The sale is part of a strategic move by Allstate, having also sold its Employer Voluntary Benefits businesses, collectively valued at $3.25 billion. The transaction is expected to result in a financial book gain of approximately $500 million, as stated by Jess Merten, Allstate's Chief Financial Officer.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. The Allstate Corporation published the original content used to generate this news brief via Business Wire (Ref. ID: 20250701040710) on July 01, 2025, and is solely responsible for the information contained therein.