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.
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