M&A Deal Summary

Wilton Re Holdings Acquires Allstate Life Insurance Company of New York

On March 29, 2021, Wilton Re Holdings acquired insurance company Allstate Life Insurance Company of New York from Allstate for 220M USD

Acquisition Highlights
  • This is Wilton Re Holdings’ 2nd transaction in the Insurance sector.
  • This is Wilton Re Holdings’ largest (disclosed) transaction.
  • This is Wilton Re Holdings’ 2nd transaction in the United States.
  • This is Wilton Re Holdings’ 2nd transaction in Illinois.

M&A Deal Summary
Date 2021-03-29
Target Allstate Life Insurance Company of New York
Sector Insurance
Buyer(s) Wilton Re Holdings
Sellers(s) Allstate
Deal Type Divestiture
Deal Value 220M USD

Target

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.

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Buyer(S) 1

Buyer

Wilton Re Holdings

Norwalk, Connecticut, United States
Category Company
Founded 2004
Sector Insurance
DESCRIPTION

Wilton Re Holdings Limited provides traditional life reinsurance and insurance Run Off Solutions through its wholly owned operating subsidiaries, Wilton Reassurance Company, Wilton Reinsurance Bermuda Limited, and Wilton Reassurance Life Company of New York.

DEAL STATS #
Overall 2 of 2
Sector (Insurance) 2 of 2
Type (Divestiture) 2 of 2
State (Illinois) 2 of 2
Country (United States) 2 of 2
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-08-01 Continental Assurance Company

Chicago, Illinois, United States

Continental Assurance Company is a provider of life and group insurance.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-25 ivari

Toronto, Ontario, Canada

ivari has a national network of thousands of independent advisors that provide a full range of life insurance products designed to help Canadians make the right choice for their protection needs. ivari is headquartered in Toronto, Ontario.

Sell CA$375M

Seller(S) 1

SELLER

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 4 of 5
Sector (Insurance) 2 of 3
Type (Divestiture) 2 of 3
State (Illinois) 1 of 2
Country (United States) 4 of 5
Year (2021) 1 of 2
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-07-07 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.

Buy $4.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 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.

Buy $300M
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