The Standard acquires Allstate's benefits unit for $2B
04/06/25, 8:20 PM
Location
portlandmichiganIndustry
financial services
insurance
employee benefits
financial services
The Standard has successfully completed a $2 billion acquisition of Allstate's employer voluntary benefits business. As part of this agreement, The Standard's products will be accessible to Allstate customers through a future distribution partnership. The acquired business will operate under The Standard brand, contributing to the company's growth in the employer benefits sector.
Company Info
Location
Portland, Oregon, United States
Company info
StanCorp Financial Group, Inc., through its subsidiaries marketed as The Standard — Standard Insurance Company, The Standard Life Insurance Company of New York, Standard Retirement Services, StanCorp Mortgage Investors, StanCorp Investment Advisers, StanCorp Real Estate and StanCorp Equities — is a leading provider of financial products and services. StanCorp’s subsidiaries offer group and individual disability insurance, group life and accidental death and dismemberment insurance, group dental and group vision insurance, absence management and paid family leave services, retirement plans products and services, individual annuities, origination and servicing of fixed-rate commercial mortgage loans and investment advice.