Allstate Closes Acquisition of Esurance and Answer Financial

<div class="xn-content"><p><span class="xn-location"><location value="LU/us.il.norook" idsrc="xmltag.org">NORTHBROOK, Ill.</location></span>, <span class="xn-chron"><chron>Oct. 7, 2011</chron></span> /PRNewswire/ -- <org value="NYSE:ALL" idsrc="xmltag.org">The Allstate Corporation</org> (NYSE: ALL) today announced that it has obtained all required regulatory approvals and closed its acquisition of <org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> and Answer Financial from <org value="NYSE:WTM" idsrc="xmltag.org">White Mountains Insurance Group, Ltd.</org> (NYSE: WTM). The purchase price was approximately <span class="xn-money"><money>$1 billion</money></span>. The transaction is expected to be non-dilutive to <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org>'s earnings in the second full year of ownership. </p><p>"<org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> is uniquely positioned to serve different customer segments with unique products and services," said <span class="xn-person"><person>Thomas J. Wilson</person></span>, <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org>'s president, chairman and chief executive officer.  "This transaction provides immediate incremental growth in customer relationships and makes <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> the only company serving all four major consumer segments based on their preferences for advice and choice. <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> agencies serve personal touch loyalists who prefer local personal advice and are brand-sensitive. <org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> 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." </p><p>In the coming months, the <org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> management team will work to enhance its operational and marketing effectiveness by leveraging <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org>'s brand, pricing expertise and claims capabilities. <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> intends to maintain the current headquarters of <org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> in <span class="xn-location"><location value="LU/us.ca.sanfrn" idsrc="xmltag.org">San Francisco</location></span> and Answer Financial in <span class="xn-location"><location value="LU/us.ca.losang" idsrc="xmltag.org">Los Angeles</location></span>. These operations will be reported in the Allstate Protection reporting segment.</p><p><a href="http://www.allstatenewsroom.com/"><org value="NYSE:ALL" idsrc="xmltag.org">The Allstate Corporation</org></a> (NYSE: ALL) is the nation's largest publicly held personal lines insurer known for its "You're In Good Hands With Allstate®" slogan. Now celebrating its 80th anniversary as an insurer, <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> is reinventing protection and retirement to help nearly 16 million households insure what they have today and better prepare for tomorrow. Consumers access <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> insurance products (auto, home, life and retirement) and services through <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> agencies, independent agencies, and <org value="NYSE:ALL" idsrc="xmltag.org">Allstate</org> exclusive financial representatives in the U.S. and <span class="xn-location"><location value="LC/ca" idsrc="xmltag.org">Canada</location></span>, as well as via <a href="http://www.allstate.com/">www.allstate.com</a> and 1-800-Allstate®. </p><p><org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> provides personal auto insurance direct to consumers online and through select agents, including sister company Answer Financial. <org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> is dedicated to constantly improving the way people shop for, buy, and manage their auto insurance. By combining the best of technology with industry know-how, <org value="ACORN:3362501411" idsrc="xmltag.org">Esurance</org> is able to offer hassle-free coverage with 24/7 customer service and claims handling at competitive prices. For more information, visit <a href="http://www.esurance.com/">www.esurance.com</a> and <a href="http://www.answerfinancial.com/">www.answerfinancial.com</a>. </p><p>SOURCE <org value="NYSE:ALL" idsrc="xmltag.org">The Allstate Corporation</org></p></div>