UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15 (d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): June 1, 2021
THE ALLSTATE CORP ORATION
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices) (Zip Code)
Registrant’s telephone number, including area code (847 ) 402-5000
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbols | Name of each exchange on which registered | ||||||
| Common Stock, par value $0.01 per share | ALL | New York Stock Exchange Chicago Stock Exchange | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging growth company | |||||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Section 7 – Regulation FD
Item 7.01. Regulation FD Disclosure
The Registrant’s press release dated June 1, 2021, announcing its agreement to acquire Safe Auto Insurance Group, Inc., is attached hereto as Exhibit 99 and is incorporated herein by reference. The press release is furnished and not filed, pursuant to Instruction B.2 of Form 8-K.
Section 9 – Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. | Description | |||||||
| 99 | ||||||||
104 | Cover Page Interactive Data File (formatted as inline XBRL). | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
THE ALLSTATE CORPORATION (Registrant) | ||||||||
| By: | /s/ Daniel G. Gordon | |||||||
| Name: | Daniel G. Gordon | |||||||
| Title: | Vice President, Assistant General Counsel and Assistant Secretary | |||||||
| Date: June 1, 2021 | ||||||||
Exhibit 99
NEWS
FOR IMMEDIATE RELEASE
Contacts:
| Greg Burns | Mark Nogal | |||||||
| Media Relations | Investor Relations | |||||||
| (847) 402-5600 | (847) 402-2800 | |||||||
Allstate Leverages National General Platform to Grow Personal Property-Liability
Acquires SafeAuto in an all-cash transaction
NORTHBROOK, Ill., June 1, 2021 – The Allstate Corporation (NYSE: ALL) has agreed to acquire SafeAuto, a non-standard auto insurance carrier focused on providing state-minimum private-passenger auto insurance with coverage options in 28 states. Total consideration includes a $270 million cash purchase price plus approximately $30 million in pre-close dividends of certain non-insurance assets.
SafeAuto, a privately held company headquartered in Columbus, Ohio, will add capabilities and distribution to National General’s direct-to-consumer non-standard auto insurance operations and leverage National General’s track record of acquiring and integrating companies to accelerate growth. SafeAuto broadens the company’s product and distribution footprint.
“National General’s integration of Allstate’s independent agent businesses has made excellent progress, and the team has the capacity to integrate SafeAuto into its direct insurance business,” said Glenn Shapiro, President, Personal Property-Liability. “SafeAuto will accelerate our strategy of offering affordable protection solutions by lowering costs and lead to higher growth,” said Peter Rendall, President, National General, Property and Casualty.
“The acquisition and integration capabilities of National General, combined with the backing and capital of Allstate, will enable us to serve more customers,” said Ron Davies, Chief Executive Officer, SafeAuto.
The transaction is expected to close near the end of the third quarter, subject to regulatory approval and customary closing conditions. The cash purchase of SafeAuto would be immediately accretive to earnings.
Financial information, including material announcements about The Allstate Corporation, is routinely posted on
www.allstateinvestors.com.
Forward-Looking Statements
This news release contains “forward-looking statements” that anticipate results based on our estimates, assumptions and plans that are subject to uncertainty. These statements are made subject to the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements do not relate strictly to historical or current facts and may be identified by their use of words like “plans,” “seeks,” “expects,” “will,” “should,” “anticipates,” “estimates,” “intends,” “believes,” “likely,” “targets” and other words with similar meanings. We believe these statements are based on reasonable estimates, assumptions and plans. However, if the estimates, assumptions or plans underlying the forward-looking statements prove inaccurate or if other risks or uncertainties arise, actual results could differ materially from those communicated in these forward-looking statements. Factors that could cause actual results to differ materially from those expressed in, or implied by, the forward-looking statements may be found in our filings with the U.S. Securities and Exchange Commission, including the “Risk Factors” section in our most recent annual report on Form 10-K. Forward-looking statements are as of the date on which they are made, and we assume no obligation to update or revise any forward-looking statement.
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