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Allstate to sell Employer Voluntary Benefits business to The Standard for $2.0 billion

Aug 13, 2024

Contract Type

agreement

NorthbrookEnergyFinancial ServicesHealth CareHuman ResourcesEmployee BenefitsInsurance

Description

The Allstate Corporation has announced a definitive agreement to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. (The Standard) for $2.0 billion. This strategic decision aims to enable the Allstate Health & Benefits businesses to realize their full growth potential by combining them with companies that have additional capabilities, providing customers with broader protection and higher value.

Company Information

Company

The Allstate Corporation

Location

3100 Sanders Road

Northbrook, Illinois, United States

About

The Allstate Corporation is a leading workplace benefits provider with industry-leading supplemental and voluntary workplace benefits, including Whole Life, Universal Life, Accident, Hospital Indemnity, Cancer, and Critical Illness coverage.

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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals, including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications, based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include Daily Briefing for AI-powered daily briefings, and unified cross-signal alerts across 281,000+ organizations. Developers and data teams can access these signals programmatically via the Fundz Funding Data API, with transparent published pricing.