January 31, 2025 - 12:57
In a significant move to enhance its offerings, Nationwide has announced plans to acquire Allstate's stop-loss insurance business in a deal valued at $1.25 billion. The transaction is anticipated to finalize in the latter half of 2025. This strategic acquisition aims to broaden Nationwide Financial's portfolio, particularly in the employer stop-loss segment, which is essential for small businesses looking for comprehensive insurance solutions.
John Carter, President of Nationwide, emphasized the importance of this acquisition, stating that it will enable the company to better meet the needs of small businesses and expand its customer base. As a diversified insurance and financial services firm based in Ohio, Nationwide offers a wide array of products, including auto, business, farm, and life insurance. This acquisition marks a pivotal step in Nationwide's ongoing efforts to strengthen its market position and provide enhanced services to its clients.
