Nationwide has completed the acquisition of The Allstate Corporation’s employer stop loss segment for $1.25 billion.
This deal enhances and diversifies Nationwide’s portfolio, expanding the company’s capacity to offer stop loss insurance to small businesses. Stop loss insurance provides protection against excess losses for employers who self-fund their health insurance plans.
As part of the deal, Lindsey Murray, the former Chief Operating Officer of Allstate Health, has joined Nationwide and will lead the newly formed Nationwide Group Benefits segment. She will report directly to John Carter, President and COO of Nationwide Financial.
Throughout her time at Allstate, Murray held various leadership roles, including Executive Vice President of the Product, Pricing, and Underwriting team for the Health & Benefits division, where she oversaw the Voluntary Benefits, Individual Health, and Group Health business lines. She has demonstrated a strong track record of driving innovative product development and long-term growth.
Murray holds a bachelor’s degree in actuarial science from Carroll University. She is a Fellow of the Society of Actuaries and a member of the American Academy of Actuaries.
KEY QUOTES:
“This acquisition expands the capabilities, specialized expertise and strong partnerships of our financial services organization, positioning our company as a leading provider in the employer stop loss industry. As a company committed to protecting people, businesses and futures with extraordinary care, enhancing our employer stop loss segment helps us continue to meet the needs of business owners today and into the future.”
Nationwide CEO Kirt Walker
“Lindsey brings a wealth of experience and a proven history of success in the employee benefits market. Her expertise builds on and complements Nationwide’s core capabilities, helping us drive continued growth as we navigate the evolving financial landscape.”
John Carter
