Allstate Closes Sale Of Lincoln Help Life Allstate Branded Insurance Products (Auto Home
The sale includes Lincoln aid Life companionship's life insurance entrepreneurship generated through liberal agencies and its all the deferred fixed annuity and long lasting care insurance businesses. Lincoln support Life enterprise's life insurance policies sold thru Allstate agencies will be retained thru a reinsurance arrangement. The sale will reduce Allstate's life and annuity reserves and investment portfolio by approximately 12. On top of that, while, the estimated gross sale price is 796 bucks million. The estimated GAAP loss on sale is approximately 510 dollars million, which is 11 bucks million lower if compared with the estimated loss of 521 bucks million recorded in 2013 due to contractual closing adjustments. It's a well the transaction is estimated to consequence in a statutory accounting gain of approximately 365 dollars million and is expected to reduce Allstate Life Insurance enterprise's capital requirement by 1 bucks dollar billion. Net income generated under the patronage of Lincoln support Life was approximately 140 bucks million in 2013.
While serving approximately 16 million households through its Esurance, allstate, encompass and Answer fiscal brand titles and Allstate pecuniary entrepreneurship segment, the Allstate Corporation is the nation's largest publicly held individual lines insurer. As a output, in addition to via and one 800" Allstate®, allstate branded insurance products and maintenance are offered through Allstate. Liberal agencies and exclusive pecuniary representatives. 
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