Nationwide Acquires Allstate Employer Stop Loss Business for $1.25B

Allstate Acquires National General Holdings

July 7, 2020

Insurance

The Allstate Corporation agreed to acquire National General Holdings Corporation for approximately $4.0 billion in cash (total $34.50 per share including expected closing dividends), a transaction expected to close in early 2021 subject to regulatory approvals. The deal expands Allstate's personal lines premiums by about $4.0 billion, increases market share among independent agent distribution, and is expected to be accretive to adjusted net income per share and ROE in the first year.

The Standard Acquires Allstate's Employer Voluntary Benefits Business

April 1, 2025

Insurance

StanCorp Financial Group (The Standard) has completed the acquisition of The Allstate Corporation's Employer Voluntary Benefits business, largely comprised of American Heritage Life Insurance Company. The agreement includes a future distribution partnership to make certain of The Standard's products and services available to Allstate customers and is intended to expand The Standard's workplace benefits portfolio.

Hub International Acquires Assets of Stop Loss Insurance Brokers and Berkeley Insurance Brokers

July 27, 2022

Insurance

Hub International Limited acquired the assets of Stop Loss Insurance Brokers, Inc. and Berkeley Insurance Brokers, Inc., two Boston-based independent brokers specializing in medical stop-loss for self-funded municipal and employer markets. The deal expands Hub's medical stop-loss capabilities and strengthens its public-entity and benefits practice in Massachusetts and New England. Terms were not disclosed.

Blackstone Acquires Allstate Life Insurance Company (Everlake Life) for $2.8B

December 2, 2021

Financial Services

Blackstone-managed entities purchased Allstate Life Insurance Company and certain subsidiaries for $2.8 billion; the business has been renamed Everlake Life Insurance Company. Domain Capital Advisors served as lead lender in a multi-lender syndicate providing and servicing the debt for the transaction. The seller was The Allstate Corporation, which divested the life and annuity business.

Strategic Benefit Resources Acquires OneSource StopLoss

April 1, 2021

Insurance

Strategic Benefit Resources (SBR) acquired OneSource StopLoss (OSSL) effective April 1, 2021. The acquisition gives SBR a west coast presence and expands its stop-loss and self-funded broker support capabilities.

World Insurance Associates Acquires NorthStar Insurance Services

July 1, 2024

Insurance

World Insurance Associates LLC, a nationally ranked insurance brokerage headquartered in Iselin, New Jersey, acquired the business of NorthStar Insurance Services of Needham, Massachusetts, effective July 1, 2024. Terms were not disclosed; NorthStar (founded in 1995) is one of New England's larger independent insurance agencies providing business and personal insurance and risk management services.