Divestiture • Insurance

Nationwide Mutual Insurance Co. Acquires Allstate - Group Health business

On January 30, 2025, Nationwide Mutual Insurance Co. acquired insurance company Allstate - Group Health business from Allstate for 1.3B USD

Acquisition Context
  • This is Nationwide Mutual Insurance Co.’s 3rd transaction in the Insurance sector.
  • This is Nationwide Mutual Insurance Co.’s largest (disclosed) transaction.
  • This is Nationwide Mutual Insurance Co.’s 5th transaction in the United States.
  • This is Nationwide Mutual Insurance Co.’s 1st transaction in Illinois.

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M&A Deal Summary

Date January 30, 2025
Target Allstate - Group Health business
Sector Insurance
Buyer(s) Nationwide Mutual Insurance Co.
Sellers(s) Allstate
Deal Type Divestiture
Deal Value 1.3B USD

Target Company

Allstate - Group Health business

Northbrook, Illinois, United States
Allstate's Group Health business provides various health coverage options designed to meet the needs of small and mid-sized businesses. Allstate's Group Health business is based in Northbrook, Illinois.
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Buyer Overview 1

Buyer

Nationwide Mutual Insurance Co.

Columbus, Ohio, United States

Category Company
Founded 1925
Sector Insurance
DESCRIPTION
Nationwide office in Raleigh, North Carolina.
Nationwide office in Raleigh, North Carolina.

Nationwide is a diversified insurance and financial services organization that provides a full range of personalized insurance and financial services, including auto insurance, motorcycle, boat, homeowners, life insurance, farm, commercial insurance, administrative services, annuities, mortgages, mutual funds, pensions and long-term savings plans. Nationwide was formed in 1925 and is based in Columbus, Ohio.


Deal Context for Buyer #
Overall 6 of 6
Sector: Insurance 3 of 3
Type: Divestiture 2 of 2
State: Illinois 1 of 1
Country: United States 5 of 5
Year: 2025 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-26 Rabon Insurance

Monroe, North Carolina, United States

Rabon Insurance is a provider of personal and commercial lines insurance solutions to clients throughout North Carolina and is headquartered in Monroe, North Carolina.

Sell -

Seller Profile 1

SELLER

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 Context for Seller #
Overall 7 of 7
Sector: Insurance 5 of 5
Type: Divestiture 5 of 5
State: Illinois 4 of 4
Country: United States 7 of 7
Year: 2025 1 of 1
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-13 Allstate - Employer Voluntary Benefits Business

Northbrook, Illinois, United States

Allstate's Employer Voluntary Benefits Business is a provider of supplemental and voluntary workplace benefits, including Whole Life, Universal Life, Accident, Hospital Indemnity, Cancer, and Critical Illness coverage.

Sell $2.0B