COLUMBUS, Ohio, June 1, 2021 /PRNewswire/ -- SafeAuto has agreed to be acquired by The Allstate Corporation (NYSE: ALL) through Allstate subsidiary National General.
SafeAuto will add capabilities and distribution with its 24 hour, 7 days a week customer contact centers at 1-800-SafeAuto and its website. The combination will leverage 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.
Ari Deshe, Co-Founder and Chairman of SafeAuto said, "I am confident that combining forces with National General with the backing of Allstate will allow SafeAuto to grow its platform in the non-standard space. I wish to thank all of our past and present associates for their contributions to our success during our 27-year history."
"It has been an honor to have worked with so many these past 27 years building SafeAuto into a company dedicated to making the purchase of auto insurance easy and affordable. We are delighted to turn the reins over to Allstate and National General, which together, will take Playing It Safe with SafeAuto to the next level," said Jon Diamond, Co-Founder and Vice Chairman of SafeAuto.
SafeAuto's CEO of nine years and former Allstater Ron Davies said, "I am excited to see SafeAuto join the Allstate family and National General. Allstate is an iconic brand with superb capabilities and people that will enable SafeAuto to more rapidly scale and serve even more consumers."
The transaction is expected to close by the end of the third quarter of 2021, subject to the receipt of regulatory approvals and satisfaction of customary closing conditions.
Skadden, Arps, Slate, Meagher & Flom LLP acted as legal advisor to SafeAuto in the transaction.
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Safe Auto Insurance Group Inc. has been a leading provider of affordable state minimum coverage since its founding in 1993. From humble beginnings in a small, one-room office downtown to a full office building near Easton Town Center, SafeAuto has always been proud to call Columbus, Ohio home. With an unwavering entrepreneurial spirit and the idea that everybody has the right to have insurance, we're now providing options in 28 states for drivers who are looking to save hard-earned dollars. SafeAuto offers flexible payment plans, immediate coverage, and 24/7 customer service through the phone and web. Whether you're looking for auto, commercial, home, life, motorcycle or renters insurance, our dedicated team rides with you around the clock to ensure we are providing you the coverage that fits your needs. Our agents are available to assist you 24/7 at 1-800-SAFEAUTO (1-800-723-3288). Play it safe with SafeAuto! For more information, visit www.safeauto.com.
MediaSource on behalf of SafeAuto