Nationwide finalizes $1.25 billion acquisition of Allstate's Employer Stop Loss business division
In a strategic move to bolster its position in the employer stop-loss industry, Nationwide has completed the acquisition of The Allstate Corporation's employer stop-loss segment for $1.25 billion. As part of the deal, Lindsey Murray, the former Chief Operating Officer (COO) of Allstate Health, has joined Nationwide to lead its newly formed Group Benefits segment.
With a wealth of experience and a proven history of success in the employee benefits market, Murray brings a unique blend of actuarial science expertise and strategic leadership to her new role. Throughout her time at Allstate, she held various leadership roles, including Executive Vice President of the Product, Pricing, and Underwriting team for the Health & Benefits division.
Murray's appointment is expected to drive continued growth for Nationwide as they navigate the evolving financial landscape. Her expertise builds on and complements Nationwide's core capabilities, positioning the company as a leading provider in the employer stop-loss industry.
The Group Benefits segment, which serves over 13,000 small employers, aims to leverage Murray's technical expertise and industry knowledge to drive growth, innovation, and cross-selling opportunities across Nationwide's insurance and financial services portfolio.
Murray holds a bachelor's degree in actuarial science from Carroll University and is a Fellow of the Society of Actuaries as well as a member of the American Academy of Actuaries, underscoring her technical expertise and industry recognition.
Nationwide's CEO, Kirt Walker, stated that enhancing the employer stop-loss segment helps them meet the needs of business owners now and in the future. Murray will report directly to John Carter, President and COO of Nationwide Financial.
Stop-loss insurance provides protection against excess losses for employers who self-fund their health insurance plans. The acquisition enhances Nationwide's capabilities and expertise in the employer stop-loss industry, and also expands the company's capacity to offer stop-loss insurance to small businesses.
Murray has demonstrated a strong track record of driving innovative product development and long-term growth. Her leadership is expected to contribute significantly to the growth and success of Nationwide in the employer stop-loss industry.
Sources: [1] Nationwide Newsroom. (2025). Lindsey Murray Joins Nationwide to Lead Group Benefits Segment. Retrieved from https://www.nationwide.com/newsroom/press-releases/2025/lindsey-murray-joins-nationwide-to-lead-group-benefits-segment [2] Business Wire. (2025). Nationwide Acquires Allstate's Employer Stop-Loss Business for $1.25 Billion. Retrieved from https://www.businesswire.com/news/home/20250701005335/en/Nationwide-Acquires-Allstate's-Employer-Stop-Loss-Business-for-1.25-Billion [3] Employee Benefit News. (2025). Lindsey Murray Takes the Reins at Nationwide's Group Benefits Segment. Retrieved from https://www.ebn.benefitnews.com/news/lindsey-murray-takes-the-reins-at-nationwide-s-group-benefits-segment
- Murray's appointment in Nationwide's Group Benefits segment, driven by her expertise in finance and employee benefits, is anticipated to fuel continued growth for the company as they navigate the evolving financial landscape.
- The acquisition of The Allstate Corporation's employer stop-loss segment for $1.25 billion bolsters Nationwide's position in the employer stop-loss industry, expanding their capacity to offer stop-loss insurance to small businesses.
