NORTHBROOK, Unwell., April 1, 2025 – The Allstate Company (NYSE: ALL) at this time accomplished the sale of its Employer Voluntary Advantages enterprise to StanCorp Monetary Group, Inc., (The Customary) for $2.0 billion.
“The sale of the Employer Voluntary Advantages enterprise improves the expansion alternatives of a extremely profitable enterprise, creating further worth for Allstate’s shareholders,” stated Tom Wilson, Chair, President and CEO of The Allstate Company. “This transaction, together with the beforehand introduced definitive settlement to promote the Group Well being enterprise, is anticipated to generate mixed proceeds of $3.25 billion in 2025. Allstate is well-positioned to execute our technique to extend private property legal responsibility market share and increase safety providers.”
“The sale of Employer Voluntary Advantages generated a monetary guide achieve of about $625 million,” concluded Jess Merten, Allstate’s Chief Monetary Officer. “The proceeds will assist our disciplined capital administration strategy, together with the lately introduced share repurchase program.”
Monetary info, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
About Allstate
The Allstate Company (NYSE: ALL) protects individuals from life’s uncertainties with a big selection of safety for autos, properties, digital units and identification theft. Merchandise can be found by a broad distribution community together with Allstate brokers, unbiased brokers, main retailers, on-line and on the office. Allstate is broadly recognized for the slogan “You’re in Good Fingers with Allstate.” For extra info, go to www.allstate.com.
About The Customary
The Customary is a household of firms devoted to serving to clients obtain monetary wellbeing and peace of thoughts. In enterprise since 1906, we’re a number one supplier of economic safety services for employers and people. Our merchandise embrace group and particular person incapacity insurance coverage, group life and unintentional demise and dismemberment insurance coverage, group dental and group imaginative and prescient insurance coverage, voluntary and supplemental advantages, absence administration and paid household depart providers, retirement plans services and particular person annuities. For extra details about The Customary, go to standard.com and comply with us on LinkedIn.
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