(Bloomberg) -- Allstate Corp. said that the mobile-device insurer that it acquired for $1.4 billion had posted five years of losses before the deal.
SquareTrade Holding Co.’s annual loss narrowed to $26.5 million in 2015 from $37.4 million in 2014, Northbrook, Illinois-based Allstate said Wednesday in a regulatory filing that announced the completion of the transaction. Allstate, which is the largest publicly traded home and auto insurer in the U.S., declined to disclose SquareTrade’s financial data when the deal was announced in November, saying that figures would be made available early in 2017.
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