The Allstate Corporation announced the completion of the sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2.0 billion. This transaction marks a significant step in Allstate's strategy to streamline its portfolio.
The sale generated a financial book gain of approximately $625 million for Allstate. This capital will support the company's disciplined capital management approach, including the recently announced share repurchase program.
This divestiture, combined with the previously announced definitive agreement to sell the Group Health business, is expected to generate total proceeds of $3.25 billion in 2025. The move positions Allstate to increase personal property-liability market share and expand protection services.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.