The Allstate Corp. completed the purchase of Esurance and Answer Financial from White Mountains Insurance Group Ltd. for about $1 billion.
Allstate said it will maintain the current headquarters for Esurance in San Francisco and Answer Financial in Los Angeles.
Thomas Wilson, Allstate president and CEO, said the transaction, finalized Oct. 7, makes Allstate the only company serving all four major consumer segments based on their preferences for insurance advice and choice.
"Allstate agencies serve personal touch loyalists who prefer local personal advice and are brand-sensitive. Esurance provides the business platform to serve the self-directed, brand-sensitive market segment," he said in a statement. "Answer Financial strengthens our offering to self-directed consumers who want a choice between insurance carriers. Customers who utilize independent agents and are brand-neutral are served by our Encompass operation."
Allstate is the largest publicly held personal lines insurance company in the country. Esurance provides personal auto insurance direct to consumers online and through select agents, including sister company Answer Financial.