Allstate to sell its employer voluntary benefits business to The Standard

Allstate Corporation signed, on 13 August 2024, a definitive agreement with StanCorp Financial Group (The Standard) to sell its group and individual employer voluntary benefits business.

The transaction is valued at 2 billion USD, to be paid in cash.

Pending regulatory approval and customary closing conditions, the transaction is expected to be finalized in the first half of 2025.