StanCorp Financial to acquire employer voluntary benefits business from The Allstate Corporation for $2bn.

StanCorp Financial, an insurance and financial services company, agreed to acquire employer voluntary benefits business from The Allstate Corporation, a publicly held personal lines insurers company, for $2bn. “We see significant synergies between Allstate’s industry-leading supplemental and voluntary life products and The Standard’s expertise in workplace benefits. This transaction enhances our suite of offerings for customers of all sizes. We look forward to welcoming the talented Allstate Employer Voluntary Benefits employees to The Standard and to a mutually beneficial distribution partnership as we move forward,” Dan McMillan, The Standard President and CEO.