NORTHBROK, January 30, 2025-AllState Corporation (NYSE: ALL) announced a certain agreement to sell its group’s health business to the world including regulations for approval with US $ 1.25 billion in cash. In the first nine months of 2024, the group’s health revenue was US $ 608 million, and its net income was $ 69 million.
Tom Wilson, President and CEO of allState, said: “By combining health with welfare business with more strategic consistency companies, we have reached another milestone in the strategy of maximizing the value of the shareholders. “” “Group Health provides a stop loss insurance for small enterprises, which will obtain the access right of national complementary products. 3.2.5 billion U.S. dollars in the first nine months of 2024. The adjusted net income with a net income of $ 18 million will be retained or merged with another company. “
ALLSTATE Chief Financial Officer Jess Merten said: “Capital is rich in capital, and this transaction promotes its growth strategy by expanding product portfolio and distribution capabilities.” “AllState acquired the group’s health business in 2021, which is for generals across the country. Part of the $ 4 billion acquisition. The sales will generate about $ 450 million in financial revenue and increase the deployed capital of $ 900 million. This is expected to be in 2025.
JP Morgan and Ardea Partners served as financial consultants, and Willkie Farr & Gallagher LLP served as the legal adviser to AllState. Citi is a financial adviser and Squire Patton Boggs LLP is a national legal adviser.
About allState
AllState Corporation (NYSE: ALL) can protect people from extension of the influence of uncertainty of the extensive protection of car, houses, electronic equipment and identity. You can obtain products through a wide range of distribution networks (including ALLSTATE agents, independent agents, major retailers, online and workplace). AllState is widely known as “You and AllState’s benefits”. For more information, please visit www.allstate.comEssence
About the country
The nationwide is a Fortune 100 company located in Columbus, Ohio. It is one of the largest and most powerful diversified insurance and financial service organizations in the United States. National scores are A+across the country. The nation’s promoting innovative industry leaders centered, providing comprehensive insurance and financial service products, including cars, enterprises, homeowners, farms, and life insurance; retirement plans for public and private sectors, annuity and common funds; Profit, professional and guaranteed; there are pets, motorcycles and ship insurance.
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