Allstate Sells Its Employer Voluntary Benefits Unit; Stock Jumps To Record
ALLAallstate(ALL) Investopedia·2024-08-15 03:05

Key TakeawaysAllstate sold its Employer Voluntary Benefits business to StanCorp Financial Group for $2 billion.The insurance company said the decision was part of its effort to sell its three Allstate Health & Benefits units.The news sent Allstate shares up by 4% to an all-time high Wednesday, putting the company among the top four performers in the S&P 500 index. Allstate (ALL) shares reached an all-time high Wednesday after the insurance provider announced it sold its Employer Voluntary Benefits business ...