See here for a complete list of exchanges and delays. Allstate’s team has created a strong book of business and we look forward to helping continue to provide exceptional service to policyholders moving forward.” J.P. Morgan Securities LLC, Ardea Partners LP, and Lazard acted as financial advisers and Willkie Farr & Gallagher LLP was the legal adviser to Allstate. Story continues About Allstate Ardea Partners LP was the exclusive financial adviser to Allstate, and Willkie Farr & Gallagher LLP was the company’s legal adviser. J.P. Morgan Securities and Ardea Partners acted as financial advisers, and Willkie Farr & Gallagher was the legal adviser to Allstate. ... J.P. Morgan Securities LLC and Ardea Partners LP acted as financial advisers, and Willkie Farr & Gallagher LLP was the legal adviser to Allstate. J.P. Morgan Securities LLC, Ardea Partners LP and Lazard acted as financial advisers to Allstate, while Morgan Stanley & Co. LLC and Credit Suisse Securities advised Blackstone. ; J.P. Morgan Securities LLC and Ardea Partners LP acted as financial advisers, and Willkie Farr & Gallagher LLP was the legal adviser to Allstate. Blackstone is advised by Credit Suisse, Morgan Stanley and Debevoise & Plimpton. About Allstate. Webcast Ardea Partners was the financial adviser to Allstate, while J.P. Morgan Securities LLC advised National General. In April, it responded to the reduction in claims due to the COVID-19 pandemic with an announcement of the return of $600 million in premiums to its customers. Ardea Partners LP was the exclusive financial adviser to Allstate, and Willkie Farr & Gallagher LLP was the company’s legal adviser. Ardea Partners was the financial adviser to Allstate, while J.P. Morgan Securities LLC advised National General. Share this. THE TEAM. Ardea Partners LP was the exclusive financial adviser to Allstate, and Willkie Farr & Gallagher LLP was the company’s legal adviser. Allstate will conduct a teleconference and webcast at 7:30 a.m. Central Time on Wednesday, July 8, to discuss the acquisition. The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with more than 175.9 million proprietary policies. National General’s board of directors have approved the transaction, which is subject to certain conditions including a breakup fee of USD 132.5 million. © 2021 Inside P&C is part of Euromoney Institutional Investor PLC. Allstate, an American-based insurance company, agreed to acquire National General, a property and casualty insurance company, from MSD Capital, a private investment firm, for $4bn. ALIC holds approximately 80% (or $23 billion) of Allstate’s life and annuity reserves and generated net income of $467 million in 2019 and a net loss of $23 million in the first nine months of 2020. Allstate is already among the largest auto insurers in the country. The investor webcast can be accessed at www.allstateinvestors.com . The Allstate Corporation (NYSE: ALL) has agreed to sell Allstate Life Insurance Company (ALIC) to entities managed by Blackstone for $2.8 billion. J.P. Morgan Securities LLC and Ardea Partners LP acted as financial advisers, and Willkie Farr & Gallagher LLP was the legal adviser to Allstate. Profit run continues at legacy specialist Enstar with $183mn Q1 haul, AIG has ‘cauterized’ ransomware losses with sub-limits and co-insurance: McElroy, Political violence market faces multi-hundred-million loss from Colombian protests, IPO is ‘optimal path' for AIG life and retirement unit: CEO Zaffino, HCI boosts profits with expansion of InsurTech unit TypTap, Greenlight Re books Q1 underwriting loss of $2mn as shareholders reject pay, Personal auto Q1 earnings: The right stuff. (Reuters) - Allstate Corporation said on Tuesday it had agreed to sell most of its life insurance business to entities managed by buyout firm Blackstone Group Inc for $2.8 billion. Ardea Partners, Lazard and Willkie Farr & Gallagher advised Allstate in the transaction, while Financial Technology Partners and Ropes & Gray … Allstate has acquired 14 companies, including 5 in the last 5 years. “Allstate is deploying capital out of lower growth and return businesses while continuing to execute our strategy to grow market share in personal property-liability,” Chief Executive Officer Tom Wilson said. Allstate Expands Personal Lines Market Position with Acquisition of National General. The company said the unit, Allstate Life Insurance Company, holds about 80% or $23 billion of its life and annuity reserves and reported a net loss of $23 million for the first nine months of 2020. Allstate’s team has created a strong book of business and we look forward to helping continue to provide exceptional service to policyholders moving forward.” ... Ardea Partners … Reporting by Shubham Kalia and Kanishka Singh in Bengaluru. ... Allstate is advised by Ardea Partners and Willkie Farr & Gallagher. The deal comes as global life insurers are taking steps to curb payouts stemming from the COVID-19 pandemic, including long-term health consequences that are not fully understood. Get Coverager to your inbox A really good email covering top news. The deal has been approved by National General's board, Allstate said, adding that it included a breakup fee of $132.5 million. Allstate completes exit of life and annuity businesses . About Allstate. All material subject to strictly enforced copyright laws. J.P. Morgan Securities LLC was the exclusive financial adviser to National General, and Paul, Weiss, Rifkind, Wharton & Garrison LLP was National General’s legal counsel. Samuel Casey All quotes delayed a minimum of 15 minutes. About Allstate J.P. Morgan Securities LLC and Ardea Partners LP acted as financial advisers, and Willkie Farr & Gallagher LLP was the legal adviser to Allstate. Ardea Partners, Lazard and Willkie Farr & Gallagher advised Allstate in the transaction, while Financial Technology Partners and Ropes & Gray advised SquareTrade. J.P. Morgan Securities LLC and Ardea Partners LP acted as financial advisers, and Willkie Farr & Gallagher LLP was the legal adviser to Allstate. News Allstate National General Insurance Carrier Primary insurance M&A Personal Lines. Allstate’s choice of boutique investment bank Ardea Partners to advise on its $4bn acquisition of National General a sign of the rising importance of boutique advisors in insurance M&A. The insurer said it was looking at alternatives to sell or otherwise transfer risk associated with ALNY to a third party. Allstate’s team has created a strong book of business and we look forward to helping continue to provide exceptional service to policyholders moving forward.” J.P. 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