NORTHBROOK, In poor health., April 1, 2025 – The Allstate Company (NYSE: ALL) right this moment accomplished the sale of its Employer Voluntary Advantages enterprise to StanCorp Monetary Group, Inc., (The Commonplace) for $2.0 billion.
“The sale of the Employer Voluntary Advantages enterprise improves the expansion alternatives of a extremely profitable enterprise, creating extra worth for Allstate’s shareholders,” mentioned 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 predicted 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 broaden safety providers.”
“The sale of Employer Voluntary Advantages generated a monetary ebook acquire of about $625 million,” concluded Jess Merten, Allstate’s Chief Monetary Officer. “The proceeds will assist our disciplined capital administration strategy, together with the not too long ago 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 wide selection of safety for autos, properties, digital gadgets and id theft. Merchandise can be found by means of a broad distribution community together with Allstate brokers, unbiased brokers, main retailers, on-line and on the office. Allstate is extensively recognized for the slogan “You’re in Good Arms with Allstate.” For extra info, go to www.allstate.com.
About The Commonplace
The Commonplace is a household of firms devoted to serving to prospects obtain monetary wellbeing and peace of thoughts. In enterprise since 1906, we’re a number one supplier of monetary safety services and products for employers and people. Our merchandise embrace group and particular person incapacity insurance coverage, group life and unintended 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 products and particular person annuities. For extra details about The Commonplace, go to standard.com and comply with us on LinkedIn.
###
Publish Views: 103
