ALL · Earnings call · 2026Q2T · Full report

Acquisition / Partnership / Divestiture

ALLSTATE CORP · 2026-08-05 · Importance 77 · Surprise 82

Management said Allstate continues to evaluate acquisitions as a way to leverage capabilities and drive growth, citing SquareTrade and National General as successful prior acquisitions. SquareTrade has grown to more than ten times its original size, generated $1.4 billion of value, and produced more than $80 million of adjusted net income in the first six months of 2026. Allstate also sold its Life and Health and Benefits businesses to redeploy capital toward higher-return opportunities, while maintaining flexibility to use preferred stock and reinsurance for capital sourcing.

Key facts

• SquareTrade generated over $80 million in the first six months of this year and has returned more than $1.4 billion in proceeds since acquisition (described as 'we've made $1.4 billion on it').
• Allstate sold its Life business and its health and benefits businesses.
• Allstate acquired SquareTrade and National General over the last decade.