National General Holdings Corp.
2021
$4.0B
Why
Allstate acquired National General to significantly expand its presence in the independent agency channel and the specialty auto insurance market. National General was a leading writer of non-standard auto insurance, a segment that Allstate had previously exited, and had a vast network of independent agents.
Impact
The acquisition instantly made Allstate a top-tier player in the independent agency channel, diversifying its distribution beyond its exclusive agents and DTC platform. It also provided access to a new, higher-risk customer segment and a massive book of business that could be optimized using Allstate's data and underwriting expertise.
Outcome
The National General acquisition has been a key part of Allstate's strategy to build a more balanced and resilient distribution model, providing a critical source of new business and allowing the company to leverage its scale to improve the profitability of a previously underperforming book of business.