US primary insurer Allstate Corporation has closed its $4 billion acquisition of National General Holdings.
The acquisition, which was announced in July last year, sees Allstate expand its personal lines market position.
National General offers a range of property-liability solutions through independent agents with a presence in non-standard auto insurance.
Additionally, National General has Accident and Health and Lender-Placed Insurance operations.
In 2019, National General’s gross written premiums totalled $5.6 billion, generating income of $319 million for the year.
Tom Wilson, chair, president and CEO of The Allstate Corporation commented: “The acquisition of National General advances our strategy of growing personal lines insurance with an increase of 1 percentage point in market share.
“Independent agents will now have more protection offerings for customers, with a strong technology platform creating growth opportunities for them and Allstate. National General’s accident and health business will also further expand Allstate’s circle of protection.”
