(This Jan. 30 story has been corrected to fix John Carter's designation to president and COO of Nationwide Financial in paragraph 5) (Reuters) - U.S. insurer Nationwide said on Thursday that it would acquire property and casualty insurer Allstate Corp's employer stop-loss segment in a $1.

The move is expected to bolster Nationwide Financial's product offerings, particularly targeting small businesses with stop loss insurance.

More than a decade after exiting health insurance, Nationwide has agreed to acquire a fast-growing employer benefits business line from one of its rivals.