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M&A Deal Summary

Allstate Acquires National General Holdings

On July 7, 2020, Allstate acquired insurance company National General Holdings for 4.0B USD

Acquisition Highlights
  • This is Allstate’s 5th transaction in the Insurance sector.
  • This is Allstate’s largest (disclosed) transaction.
  • This is Allstate’s 13th transaction in the United States.
  • This is Allstate’s 1st transaction in New York.

M&A Deal Summary
Date 2020-07-07
Target National General Holdings
Sector Insurance
Buyer(s) Allstate
Deal Type Add-on Acquisition
Deal Value 4.0B USD
Advisor(s) J.P. Morgan Securities (Financial)
Paul, Weiss, Rifkind, Wharton & Garrison (Legal)

Target

National General Holdings

New York, New York, United States
National General Holdings Corp. is a specialty personal lines insurance holding company that provides personal and commercial automobile, recreational vehicle, motorcycle, homeowners, supplemental health, and other niche insurance products. National General Holdings was founded in 1939 and is based in New York, New York.

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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 13 of 14
Sector: Insurance M&A 5 of 6
Type: Add-on Acquisition M&A Deals 10 of 11
State: New York M&A 1 of 1
Country: United States M&A 13 of 14
Year: 2020 M&A 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-02-12 iCracked

San Francisco, California, United States

iCracked, Inc. is a provider of on-site, on-demand repair services for smartphones and tablets. iCracked, Inc. was founded in 2010 and is based in San Francisco, California.

Buy -
FOLLOWING 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
Mergr

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