Northbrook, Illinois, April 1, 2025 – Allstate Corporation (NYSE: ALL) today completed its employer voluntary welfare business to Stancorp Financial Group, Inc. (Standard) (Standard) is sold for $2 billion.
“The sale of employer voluntary welfare business has improved the growth opportunities of a very successful business and created more value for Allstate shareholders,” said Tom Wilson, chairman, president and CEO of Allstate Corporation. “This transaction, along with the previously announced authoritative agreement to sell the Group’s health business, is expected to generate $3.25 billion in consolidated revenue in 2025. AllState has a good attitude to implement our strategy to increase market share of personal property liability and expand conservation services.”
“The sale of employer voluntary benefits generated approximately $625 million in financial gains,” concluded Allstate Chief Financial Officer Jess Merten. “The earnings will support our disciplined approach to capital management, including the recently announced stock buyback program.”
Financial information, including material announcements about Allstate Corporation, is usually posted on www.allstateinvestors.com.
About Allstate
Allstate Corporation (NYSE:ALL) protects people from uncertainty about widespread protections for cars, homes, electronic devices and identity theft. Products can be obtained through an extensive distribution network including Allstate agents, independent agents, major retailers, online and workplaces. Allstate is well known with the slogan “Your Benefits with Allstate”. For more information, visit www.allstate.com.
About the Standard
This standard is a family of companies dedicated to helping customers achieve financial health and peace of mind. Since 1906, we have been in business and are a leading provider of financial protection products and services to employers and individuals. Our products include group and individual disability insurance, group life and accidental death and dismemberment insurance, dental and group vision insurance, voluntary and supplemental benefits, absence management and paid family leave services, retirement plan products and services, and personal annuities. For more information on the standards, visit standard.com and follow us on LinkedIn.
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