Who is buying Allstate benefits 2024 in the USA?
Asked by: Mortimer Metz | Last update: August 20, 2025Score: 4.3/5 (10 votes)
Who is buying Allstate health and benefits?
The Standard has agreed to acquire Allstate's employer voluntary benefits business for $2 billion in cash. The voluntary benefits business provides coverage for about 3.5 million people. It reported $45 million in adjusted net income for the first half of the year on $535 million in revenue.
Who just bought Allstate?
StanCorp Financial Group Inc., also called The Standard, announced Tuesday it will acquire the Allstate Corp.'s employer voluntary benefit business for about $2 billion.
Who bought Allstate voluntary benefits?
Insurance giant Allstate will sell off its employer voluntary benefits arm to StanCorp Financial Group, also known as the Standard, in a deal valued at $2 billion.
What is the outlook for Allstate company?
Allstate Corporation has 24.14% upside potential, based on the analysts' average price target. Allstate Corporation has a consensus rating of Strong Buy which is based on 11 buy ratings, 1 hold ratings and 1 sell ratings. The average price target for Allstate Corporation is $229.23.
Allstate Benefits
How is Allstate doing financially?
Insurance News
The Allstate Corporation released its financial results for the third quarter of 2024, showing a revenue increase of 14.7% to $16.6 billion compared to $14.5 billion in the same quarter last year. Year-to-date consolidated revenue reached $47.6 billion, up 12.6% from $42.3 billion in the prior year.
Who is the largest shareholder of Allstate?
Vanguard owns the most shares of Allstate Corporation (ALL).
Who is Allstate biggest competitor?
State Farm is the largest auto insurance company in the U.S. based on written premium, or the total amount it bills customers. Progressive is the second-largest car insurance company, followed by Geico and Allstate.
What insurance company did Allstate merge with?
Bert and Ernie. Great pairs are always stronger together, uniting to become greater than the sum of their parts. When Allstate acquired National General in 2021, another great pair came together, joining products to offer employers an even broader suite of coverage solutions for their employees.
Who is the parent company of Allstate?
Allstate becomes a publicly traded company with the largest IPO to date in U.S. history when Sears sells 19.8% of its ownership. Two years later, Sears spins off its remaining shares, making Allstate an independent, 100% publicly held corporation.
Did Allstate sell out?
Allstate Corp. has agreed to sell its employer voluntary benefits business to StanCorp Financial Group Inc. for $2 billion, with plans also underway to divest its individual and group health sectors. This move is part of a broader strategy to focus more intensely on its core personal liability and protection services.
What insurance companies are affiliated with Allstate?
Who owns the next insurance company?
About the Company
Next Insurance was founded in 2016 by Alon Huri, Nissim Tapiro, and the firm's current CEO Guy Goldstein after their previous company, Check, was acquired by Intuit for $360 million. Next Insurance officially launched in 2017, focusing on the small business insurance market.
Where does Allstate rank in insurance companies?
Allstate ranks fourth in the nation for property and casualty insurance. in terms of total market share. The Allstate vehicle and property insurance company also provides motorcycle, boat, and pet insurance. Unfortunately, its record for customer service is one of the nation's worst.
Which health insurance company has the best benefits?
- Best Overall and Best for Self-Employed: Kaiser Permanente.
- Best Widely Available Plans: UnitedHealthcare.
- Best for Low Complaints and Best for Chronic Conditions: Aetna.
- Most Affordable: Molina Healthcare.
Who owns Allstate health Solutions?
Healthcare Solutions Team is a wholly owned subsidiary of the National General Insurance Group and the Allstate Insurance Company.
Who is buying Allstate benefits in 2024?
NORTHBROOK, Ill., Aug. 13, 2024 – The Allstate Corporation (NYSE: ALL) announced a definitive agreement to sell the Employer Voluntary Benefits business to StanCorp Financial Group, Inc., (The Standard) for $2.0 billion.
Who purchased Allstate benefits?
Key Takeaways. Allstate sold its Employer Voluntary Benefits business to StanCorp Financial Group for $2 billion.
Is Geico owned by Allstate?
GEICO is a wholly owned subsidiary of Berkshire Hathaway, which provides coverage for more than 24 million motor vehicles owned by more than 15 million policy holders as of 2017.
Who is cheaper than Allstate?
State Farm offers cheaper rates on auto and home insurance than Allstate. State Farm also has higher customer service ratings. However, Allstate offers a few home and car insurance coverages that State Farm doesn't have.
Who is the most trusted insurance company?
- Best for customer satisfaction: Erie Insurance.
- Best for seniors: Nationwide.
- Best for liability insurance: Auto-Owners.
- Best for claims filing : State Farm.
- Best for bundling: American Family.
- Best for accident forgiveness: Progressive.
- Best for military members and veterans: USAA.
Who did Allstate buy out?
Allstate Corp.'s $4 billion deal to acquire National General Holdings Corp. will make it a top-five carrier in the independent agency channel, according to Chairman, President and Chief Executive Officer Tom Wilson.
Is Progressive bigger than Allstate?
What are the largest auto insurance companies in the US? State Farm is the biggest auto insurance company in the country by market share. Progressive, Geico and Allstate are the next three largest.
Is Allstate in debt?
Total debt on the balance sheet as of September 2024 : $8.08 Billion USD. According to Allstate's latest financial reports the company's total debt is $8.08 Billion USD. A company's total debt is the sum of all current and non-current debts.
Who bought Allstate headquarters?
A rooftop view from Allstate's temporary headquarters to its former headquarters, a six-building, 232-acre campus, on Dec. 20, 2022, in what is now Glenview. In October, Allstate sold 232 acres of its corporate campus for $232 million to Dermody Properties.