M&A Deal Summary

Allstate Acquires Auto and Home Insurance Unit of CNA

On June 10, 1999, Allstate acquired insurance company Auto and Home Insurance Unit of CNA from CNA for 1.2B USD

Acquisition Highlights
  • This is Allstate’s 3rd transaction in the Insurance sector.
  • This is Allstate’s 3rd largest (disclosed) transaction.
  • This is Allstate’s 3rd transaction in the United States.
  • This is Allstate’s 2nd transaction in Illinois.

M&A Deal Summary
Date 1999-06-10
Target Auto and Home Insurance Unit of CNA
Sector Insurance
Buyer(s) Allstate
Sellers(s) CNA
Deal Type Add-on Acquisition
Deal Value 1.2B USD

Target

Auto and Home Insurance Unit of CNA

Chicago, Illinois, United States
The Auto and Home Insurance Unit of CNA is the consumer insurance arm of CNA Financial.

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Buyer(S) 1

Buyer

Allstate

Northbrook, Illinois, United States
Category Company
Founded 1931
Sector Insurance
Employees53,000
Revenue 57.1B USD (2023)
DESCRIPTION
Entrance to Allstate's corporate headquarters in Northbrook, Illinois.
Entrance to Allstate's corporate headquarters in Northbrook, Illinois.

Allstate is a US 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 3 of 14
Sector (Insurance) 3 of 6
Type (Add-on Acquisition) 3 of 11
State (Illinois) 2 of 3
Country (United States) 3 of 14
Year (1999) 3 of 3
Size (of disclosed) 3 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
1999-05-24 CNA Personal Insurance

Chicago, Illinois, United States

CNA Personal Insurance specializes in personal insurance,company offers various insurance services and products.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2001-05-08 Sterling Collision Centers

Tustin, California, United States

Sterling Collision Centers, Inc. is a multi-state auto collision repair company established to re-engineer the repair process from supply chain management to the insurer interface. Sterling operates 62 collision-repair facilities in 16 states and has 1,200 employees.

Buy -

Seller(S) 1

SELLER

CNA

Chicago, Illinois, United States
Category Company
Founded 1853
Sector Insurance
Employees6,100
Revenue 13.1B USD (2023)
DESCRIPTION
Entrance to CNA's corporate headquarters in Downtown Chicago.
Entrance to CNA's corporate headquarters in Downtown Chicago.

CNA is a commercial insurance company. CNA's insurance products include standard commercial lines, specialty lines, surety, marine and other property and casualty coverages. CNA's services include risk management, information services, underwriting, risk control and claims administration. CNA was incorporated in 1853 and is based in Chicago, Illinois.

DEAL STATS #
Overall 1 of 2
Sector (Insurance) 1 of 2
Type (Add-on Acquisition) 1 of 1
State (Illinois) 1 of 2
Country (United States) 1 of 2
Year (1999) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
1999-06-28 First Insurance Company of Hawaii

Honolulu,, Hawaii, United States

First Insurance Company of Hawaii, provides a wide range of personal and commercial insurance products, which company distribute through 27 independent agencies throughout Hawaii.

Buy -
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