Allstate Divests Benefits Business, Enhances Strategy

Allstate (ALL) has shared an announcement.

The Allstate Corporation has announced the sale of its employer voluntary benefits business to StanCorp Financial Group, Inc. for $2 billion, ushering in a significant shift in its business portfolio. This cash transaction, which includes the American Heritage Life Insurance Company and American Heritage Service Company, is subject to standard regulatory approvals. Investors and those following the financial markets can look forward to a detailed discussion on this development during The Allstate Corporation’s conference call, which will provide further insights into the strategic implications of the deal.

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