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Allstate acquires SafeAuto for $270M

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Allstate  announced its acquisition of  SafeAuto   for $270M, just six months after closing its purchase of  National General

Under this agreement, Allstate will pay about  $30 million in pre-close dividends of certain non-insurance assets  in addition to the $270 million, and is expected to close the all-cash deal near the end of the third quarter.  

SafeAuto is a privately-held company based in Columbus, Ohio, operating in 28 states, providing state-minimum auto insurance to consumers seeking nonstandard auto options. The carrier also recently partnered with insurtech startup  Hugo  in  May 2021 to offer customers usage-based auto insurance.

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