Meiji Yasuda Acquires Allstate’s Voluntary Benefits

Meiji Yasuda Expands Global Reach with $2 Billion Acquisition

In a significant move in the insurance sector, Japan's Meiji Yasuda Life Insurance Company has announced the acquisition of Allstate's employer voluntary benefits business for a substantial $2 billion in cash. This strategic purchase is made through its subsidiary, StanCorp Financial Group, and is poised to complete by the April-June 2025 quarter, pending regulatory approval in both the U.S. and Japan.