Nationwide to acquire the employer stop-loss business of Allstate for $1.25bn.

Nationwide, a diversified insurance and financial services company, agreed to acquire the employer stop-loss business of Allstate, an insurance firm offering protection for autos, homes, electronic devices, and identity theft, for $1.25bn. "As Nationwide continues to focus on our mission to protect people, businesses and futures with extraordinary care, this acquisition is a strong fit. We are extending our protection solutions to meet the needs of business owners today and into the future," Kirt Walker, Nationwide CEO.