NORTHBROOK, Sick., Oct. 1, 2021 – The Allstate Company (NYSE: ALL) right now introduced that it has obtained all required regulatory approvals and closed the sale of Allstate Life Insurance coverage Firm of New York (ALNY) to Wilton Re for about $400 million.
“Closing on the sale of ALNY is a big step in Allstate’s technique of accelerating private property-liability market share and increasing safety companies, whereas deploying capital out of the life and annuity companies,” mentioned Mario Rizzo, Chief Monetary Officer of Allstate.
In a separate transaction introduced earlier this 12 months, Allstate agreed to promote Allstate Life Insurance coverage Firm to Everlake US Holdings Firm, an entity managed by Blackstone Group. This transaction is anticipated to shut in 2021, topic to regulatory approval and different closing circumstances.
These transactions will full Allstate’s exit from the normal life and annuity companies. Allstate brokers and unique monetary specialists proceed to fulfill prospects’ wants by providing a full suite of life insurance coverage and retirement options from third-party suppliers.
The Allstate Company (NYSE: ALL) protects individuals from life’s uncertainties with a circle of safety together with automobiles, properties, digital gadgets, advantages and id theft. Merchandise can be found by way of a broad distribution community together with Allstate brokers, impartial brokers, main retailers, on-line and on the office. Allstate is extensively recognized for the slogan “You’re in Good Palms with Allstate.”
Monetary info, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
About Wilton Re:
Wilton Re is a number one supplier of in pressure and reinsurance options within the North American life insurance coverage business. With its confirmed expertise, Wilton Re creates personalized options that tackle the capital and operational wants of its shoppers. For extra details about Wilton Re, please go to www.wiltonre.com.
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