Northbrook, Illinois, January 30, 2025 – The Allstate Corporation (NYSE: All) announced a definitive agreement to sell its group health business to the entire country for $ 1.25 billion in cash, adjusted for the general balance and subject to conditions standard closure including regulatory approvals. During the first nine months of 2024, the health group had income of $ 608 million and a adjusted net income of $ 69 million.

“We reach another milestone in the strategy to maximize the value of shareholders by combining health and benefits companies with companies that have a greater strategic alignment,” said Tom Wilson, president, president and CEO of Allstate. “Group Health provides detention detention insurance to small businesses, which will get access to complementary offers of Nationwide complementary products. When combined with the previously announced sale of voluntary benefits of the employer at Stancorp Financial Group, Inc. (the standard), the total sales income will be $ 3.25 billion. The individual health business, with an adjusted net income of $ 18 million during the first nine months of 2024, will be retained or combined with another company. “

“Nationwide is extremely well capitalized and this transaction advances its growth strategy by expanding its portfolio of distribution products and capacities,” said Jess Mereten, financial director of Allstate. “Allstate acquired the group’s health business in 2021 as part of the acquisition of $ 4.0 billion national general. The sale is expected to generate a financial book gain of approximately $ 450 million, the deployable capital will increase at $ 0.9 billion, but reduce the performance of net income adjusted over 75 basic points after the closure, which is expected in 2025.

JP Morgan and Ardea Partners are acting as financial advisors and Willkie Far & Gallagher Llp is acting as a legal advisor of Allstate. Citi is acting as a financial advisor and Squire Patton Boggs LLP is acting as Nationwide legal advisor.

About Allstate

Allstate Corporation (NYSE: All) protects people from the uncertainties of life with a wide range of protection for cars, homes, electronic devices and identity theft. The products are available through a wide distribution network that includes Allstate agents, independent agents, main retailers, online and in the workplace. Allstate is widely known for the slogan “You are in good hands with Allstate”. For more information, visit www.allstate.com.

Especially the country

Nationwide, a Company of Fortune 100 based in Columbus, Ohio, is one of the largest and largest and largest insurance organizations in the United States. Nationwide is qualified as A+ by Standard & Poor’s. An industry leader in promoting customer -centered innovation, Nationwide offers a full range of insurance products and financial services that include cars, businesses, owners, farms and life insurance; Public and private sector retirement plans, annuities and mutual funds; excess and surplus, specialty and guarantee; and pet insurance, motorcycle and boat.

Declarations with advance

This press release contains “prospective statements” that anticipate the results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are subject to the safe cash provisions of the Private Securities Litigation Reform Law of 1995. These prospective statements are not strictly related to historical or current facts and can be identified by their use of words as “plans”, ” “,”, “,”, “,”, “,” seeks “” wait “,” will “,” should “,” anticipates “,” esteem “,” intends “,” believes “,” probable “,” objectives “and other words with similar meanings. We believe that these statements are based on estimates, assumptions and reasonable plans. However, if the estimates, assumptions or plans underlying the prospective statements are inaccurate or if other risks or uncertainties arise, the real results could differ materially from those communicated in these future statements. The factors that could make the real results differ materially from those expressed or implicit in the prospective statements can be found in our presentations before the United States Stock Exchange and Securities Commission, including the “Risk Factors” section in our Most recent annual report on form 10-K. Prospective statements are from the date they are made, and we do not assume the obligation to update or review any prospective statement.

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