The Allstate Corporation today announced that it has received all required regulatory approvals and closed its acquisition of Esurance and Answer Financial from White Mountains Insurance Group, Ltd. The purchase price was approximately $1 billion.
“Esurance provides the business platform to serve the self-directed, brand-sensitive market segment. Answer Financial strengthens our offering to self-directed consumers who want a choice between insurance carriers. Customers who utilize independent agents and are brand-neutral are served by our Encompass operation,” said Allstate President, Chairman and CEO Thomas Wilson. “Allstate is uniquely positioned to serve different customer segments with unique products and services.”
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