Allstate’s $2B Sale of Voluntary Benefits to StanCorp

Allstate's Strategic Shift: Selling Voluntary Benefits for $2 Billion

In a major move to streamline its operations, Allstate has decided to sell its subsidiaries offering employer voluntary benefits to StanCorp Financial Group for a substantial $2 billion in cash. This decision, disclosed in a regulatory filing on Tuesday, is part of a larger strategy to align more closely with the company's core business objectives amid a slowing economy.