NORTHBROOK, Ill., April 1, 2025 – The Allstate Corporation (NYSE: ALL) today completed the
sale of its Employer Voluntary Benefits business to StanCorp Financial Group, Inc., (The
Standard) for $2.0 billion.
“The sale of the Employer Voluntary Benefits business improves the growth opportunities of a
highly successful business, creating additional value for Allstate’s shareholders,” said Tom
Wilson, Chair, President and CEO of The Allstate Corporation. “This transaction, along with the
previously announced definitive agreement to sell the Group Health business, is expected to
generate combined proceeds of $3.25 billion in 2025. Allstate is well-positioned to execute our
strategy to increase personal property-liability market share and expand protection services.”
“The sale of Employer Voluntary Benefits generated a financial book gain of about $625 million,”
concluded Jess Merten, Allstate’s Chief Financial Officer. “The proceeds will support our
disciplined capital management approach, including the recently announced share repurchase
program.”
Financial information, including material announcements about The Allstate Corporation, is
routinely posted on www.allstateinvestors.com.
About Allstate
The Allstate Corporation (NYSE: ALL) protects people from life’s uncertainties with a wide array
of protection for autos, homes, electronic devices and identity theft. Products are available
through a broad distribution network including Allstate agents, independent agents, major
retailers, online and at the workplace. Allstate is widely known for the slogan “You’re in Good
Hands with Allstate.” For more information, visit www.allstate.com.
About The Standard
The Standard is a family of companies dedicated to helping customers achieve financial wellbeing
and peace of mind. In business since 1906, we are a leading provider of financial
protection products and services for employers and individuals. Our products include group and
individual disability insurance, group life and accidental death and dismemberment insurance,
group dental and group vision insurance, voluntary and supplemental benefits, absence
management and paid family leave services, retirement plans products and services and
individual annuities. For more information about The Standard, visit standard.com and follow us
on LinkedIn.
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