NORTHFIELD TOWNSHIP (dpa-AFX) - The Allstate Corporation (ALL) Tuesday has finalized the sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. - The Standard for $2.0 billion.
Alongside the planned sale of its Group Health business, Allstate expects to generate a total of $3.25 billion in proceeds in 2025. The company aims to strengthen its position in the personal property-liability market and expand protection services.
The sale resulted in a financial book gain of approximately $625 million, with proceeds supporting Allstate's disciplined capital management, including its share repurchase program.
ALL is currently trading at $209.79 or 1.31% higher on the NYSE.
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