X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

(Reuters) – White Mountains Insurance Group Ltd has filed a federal lawsuit against peer Allstate Corp over the 2011 sale of the online auto insurer Esurance, alleging that Allstate inappropriately lowered the final purchase price.

The suit, dated Sept. 17 and made public on Tuesday, relates to a purchase price adjustment clause that was a part of the May 2011 transaction. The roughly $1 billion sale to Allstate closed in early October of last year.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

Dig Deeper

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.