Allstate Closes Sale of New York Life and Annuity Businesses
01 Ottobre 2021 - 5:41PM
Business Wire
The Allstate Corporation (NYSE: ALL) today announced that it has
obtained all required regulatory approvals and closed the sale of
Allstate Life Insurance Company of New York (ALNY) to Wilton Re for
approximately $400 million.
“Closing on the sale of ALNY is a significant step in Allstate’s
strategy of increasing personal property-liability market share and
expanding protection services, while deploying capital out of the
life and annuity businesses,” said Mario Rizzo, Chief Financial
Officer of Allstate.
In a separate transaction announced earlier this year, Allstate
agreed to sell Allstate Life Insurance Company to Everlake US
Holdings Company, an entity managed by Blackstone Group. This
transaction is expected to close in 2021, subject to regulatory
approval and other closing conditions.
These transactions will complete Allstate’s exit from the
traditional life and annuity businesses. Allstate agents and
exclusive financial specialists continue to meet customers’ needs
by offering a full suite of life insurance and retirement solutions
from third-party providers.
About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life’s
uncertainties with a circle of protection including cars, homes,
electronic devices, benefits and identity theft. Products are
available through a broad distribution network including Allstate
agents, independent agents, major retailers, online and at the
workplace. Allstate is widely known for the slogan “You’re in Good
Hands with Allstate.”
Financial information, including material announcements about
The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
About Wilton Re:
Wilton Re is a leading provider of in force and reinsurance
solutions in the North American life insurance industry. With its
proven experience, Wilton Re creates customized solutions that
address the capital and operational needs of its clients. For more
information about Wilton Re, please visit
www.wiltonre.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that
anticipate results based on our estimates, assumptions and plans
that are subject to uncertainty. These statements are made subject
to the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements do not relate
strictly to historical or current facts and may be identified by
their use of words like “plans,” “seeks,” “expects,” “will,”
“should,” “anticipates,” “estimates,” “intends,” “believes,”
“likely,” “targets” and other words with similar meanings. We
believe these statements are based on reasonable estimates,
assumptions and plans. However, if the estimates, assumptions or
plans underlying the forward-looking statements prove inaccurate or
if other risks or uncertainties arise, actual results could differ
materially from those communicated in these forward-looking
statements. Factors that could cause actual results to differ
materially from those expressed in, or implied by, the
forward-looking statements may be found in our filings with the
U.S. Securities and Exchange Commission, including the “Risk
Factors” section in our most recent annual report on Form 10-K.
Forward-looking statements are as of the date on which they are
made, and we assume no obligation to update or revise any
forward-looking statement.
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Rachel Hill Media Relations (847) 402-5600
Mark Nogal Investor Relations (847) 402-2800
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