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0 0 0 0 0.000532300992015414 0.00895233486571495 0.00580691991289615 0.000145172997822411
Stock impact report

The Standard finalises $2bn deal to buy Allstate's voluntary benefits arm [Yahoo! Finance]

Allstate Corporation (The) (ALL) 
Last allstate corporation (the) earnings: 2/4 06:08 pm Check Earnings Report
US:NYSE Investor Relations: allstateinvestors.com
Company Research Source: Yahoo! Finance
The deal, initially announced in August 2024, generated a financial book gain of around $625m for Allstate. It includes American Heritage Life Insurance Company, which will eventually operate under The Standard brand. As part of the agreement, a future distribution partnership will be established, allowing The Standard's products and services to be offered to Allstate customers. The Standard president and CEO Dan McMillan said: “This transaction presented a unique opportunity to accelerate our growth strategy and deliver one of the most comprehensive workplace benefits portfolios in the market. I look forward to welcoming the Allstate employees and customers to The Standard.” Allstate chief financial officer Jess Merten stated: “The sale of Employer Voluntary Benefits generated a financial book gain of about $625m. The proceeds will support our disciplined capital management approach, including the recently announced share repurchase programme.” In January this year, Allsta Show less Read more
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