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NORTHBROOK, Ill.--(BUSINESS WIRE)-- The Allstate Corporation (NYSE: ALL) today completed the sale of its Group Health business to Nationwide for $1.25 billion.

鈥淭he sale delivers strong shareholder value and improves growth opportunities for Group Health by joining Nationwide鈥檚 stop-loss insurance business,鈥� said Tom Wilson, Chair, President and CEO of The Allstate Corporation. 鈥淪elling the Group Health and Employer Voluntary Benefits businesses for a combined $3.25 billion demonstrates the strength of these businesses and Allstate鈥檚 strategic approach to capital management.鈥�

鈥淭he sale of Group Health is expected to generate a financial book gain of approximately $500 million,鈥� said Jess Merten, Allstate鈥檚 Chief Financial Officer.

Financial information, including material announcements about The Allstate Corporation, is routinely posted on.

About Allstate

The Allstate Corporation (NYSE: ALL) protects people from life鈥檚 uncertainties with a wide array of protection for autos, homes, electronic devices 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 鈥淵ou鈥檙e in Good Hands with Allstate.鈥� For more information, visit .

About Nationwide

Nationwide, a Fortune 100 company based in Columbus, Ohio, is one of the largest and strongest diversified insurance and financial services organizations in the United States. Nationwide is rated A+ by Standard & Poor鈥檚. An industry leader in driving customer-focused innovation, Nationwide provides a full range of insurance and financial services products including auto, business, homeowners, farm and life insurance; public and private sector retirement plans, annuities and mutual funds; excess & surplus, specialty and surety; and pet, motorcycle and boat insurance.

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Nick Nottoli

Media Relations

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Allister Gobin

Investor Relations

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Source: The Allstate Corporation