Allstate

Management exited non‑core health benefits businesses (Employer Voluntary Benefits closed April 1 with a $643 million after‑tax gain; Group Health closed July 1) and announced a separate stop‑loss sale to Nationwide for $1.25 billion. Capital returned to shareholders included a dividend hike to 1.00 and $341 million of Q2 repurchases.

The National General acquisition broadened distribution earlier in the strategy. Track record is improving, though underwriting execution remains the primary value driver.