Nationwide Completes Acquisition of Allstate Employer Stop Loss Business for $1.25 billion
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COLUMBUS, Ohio, July 1, 2025 ~ Nationwide, one of the largest providers of insurance and financial services products in the U.S., has recently completed a major acquisition. The company has acquired The Allstate Corporation's employer stop loss segment for a whopping $1.25 billion. This transaction was finalized in accordance with the terms of the agreement that was executed on January 30, 2025.

According to Nationwide CEO Kirt Walker, this acquisition is a significant step for the company. "This expansion of our capabilities, specialized expertise, and strong partnerships in our financial services organization solidifies our position as a leading provider in the employer stop loss industry," he stated. As a company that is dedicated to protecting people, businesses, and futures with exceptional care, this move will help Nationwide meet the needs of business owners both now and in the future.

This transaction also serves to strengthen and diversify Nationwide's portfolio by expanding its ability to sell stop loss insurance to small businesses. Stop loss insurance provides protection for employers who self-fund their health insurance plans from excessive losses.

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As part of this acquisition, Lindsey Murray has joined Nationwide as the leader of the newly formed Nationwide Group Benefits segment. Murray previously served as the chief operating officer of Allstate Health and brings with her a wealth of experience and success in the employee benefits market. She will report directly to John Carter, president and COO of Nationwide Financial.

Carter expressed his excitement about Murray joining their team, stating that her expertise will complement their core capabilities and drive continued growth as they navigate through an ever-evolving financial landscape. During her time at Allstate, Murray held various leadership roles including executive vice president of Product, Pricing and Underwriting for their Health & Benefits division where she oversaw multiple business lines such as Voluntary Benefits, Individual Health, and Group Health. She has a proven track record of driving innovative product development and long-term growth.

Murray holds a bachelor's degree in actuarial science from Carroll University and is a Fellow in the Society of Actuaries as well as a member of the American Academy of Actuaries. With her extensive knowledge and experience in the industry, she is sure to be a valuable asset to Nationwide as they continue to grow and expand their reach in the employer stop loss market.

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