Will leverage its National General platform to grow personal property-liability business.
The Allstate Corporation (NYSE: ALL) announced it has agreed to acquire SafeAuto, a non-standard auto insurance carrier focused on providing state-minimum private-passenger auto insurance with coverage options in 28 states. Total consideration includes a $270 million cash purchase price plus approximately $30 million in pre-close dividends of certain non-insurance assets.
SafeAuto, a privately held company headquartered in Columbus, Ohio, will add capabilities and distribution to National General’s direct-to-consumer non-standard auto insurance operations and leverage National General’s track record of acquiring and integrating companies to accelerate growth. SafeAuto broadens the
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