M&A Deal Summary

Allstate Acquires SafeAuto Insurance Group

On June 1, 2021, Allstate acquired insurance company SafeAuto Insurance Group for 300M USD

Acquisition Highlights
  • This is Allstate’s 6th transaction in the Insurance sector.
  • This is Allstate’s 5th largest (disclosed) transaction.
  • This is Allstate’s 14th transaction in the United States.
  • This is Allstate’s 1st transaction in Ohio.

M&A Deal Summary

Date 2021-06-01
Target SafeAuto Insurance Group
Sector Insurance
Buyer(s) Allstate
Deal Type Add-on Acquisition
Deal Value 300M USD
Advisor(s) Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

SafeAuto Insurance Group

Columbus, Ohio, United States
SafeAuto is a non-standard auto insurance carrier focused on providing state-minimum private-passenger auto insurance with coverage options in 28 states. SafeAuto was founded in 1991 and is based in Columbus, Ohio.

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Buyer(S) 1

Buyer

Allstate

Northbrook, Illinois, United States

Category Company
Founded 1931
Sector Insurance
Employees55,000
Revenue 64.1B USD (2024)
DESCRIPTION
Entrance to Allstate's corporate headquarters in Northbrook, Illinois.
Entrance to Allstate's corporate headquarters in Northbrook, Illinois.

Allstate is a provider of insurance offerings, including property-liability insurance, auto/home, and life insurance. Allstate was formed in 1931 and is based in Northbrook, Illinois.


DEAL STATS #
Overall 14 of 14
Sector: Insurance M&A 6 of 6
Type: Add-on Acquisition M&A Deals 11 of 11
State: Ohio M&A 1 of 1
Country: United States M&A 14 of 14
Year: 2021 M&A 1 of 1
Size (of disclosed) 5 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-29 Allstate Life Insurance Company of New York

Northbrook, Illinois, United States

Allstate Life Insurance Company of New York is a provider of life insurance services.

Sell $220M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-11-01 Everlake Life

Northbrook, Illinois, United States

Everlake Life is an insurance company specializing in life insurance and annuities. Everlake utilizes experience and financial strength to provide customers with high-quality service and policy solutions to meet their needs. Everlake Life was formed in 1957 and is based in Northbrook, Illinois.

Sell $4.0B