The Standard Acquires Allstate's Employer Voluntary Benefits Business

The Standard Acquires Life & Disability Business From Elevance Health

April 1, 2024

Insurance

StanCorp Financial Group, Inc. (The Standard) has closed its acquisition of the Life & Disability business from Elevance Health and entered a 10-year distribution partnership to make The Standard's products available to Elevance Health customers. The acquired life and disability operations and employees will operate under The Standard brand, pairing The Standard's sales capabilities with Elevance Health's medical sales team to expand distribution and capabilities in the employee benefits market.

Nationwide Acquires Allstate Employer Stop Loss Business for $1.25B

July 1, 2025

Insurance

Nationwide has completed the $1.25 billion acquisition of The Allstate Corporation's employer stop loss segment, closing the agreement announced Jan. 30, 2025. The business will join Nationwide's newly formed Group Benefits segment led by Lindsey Murray and expands Nationwide's capabilities to sell stop-loss insurance to small businesses.

Reliance Standard Acquires Standard Security Life Insurance Company of New York

January 3, 2022

Insurance

Reliance Standard Life Insurance Company, a member of the Tokio Marine Group, has completed its acquisition of Standard Security Life Insurance Company of New York (SSL) from Independence Holding Company. SSL, a leading provider of New York DBL and statutory paid family leave insurance with ~1 million covered employees across 60,000 employer groups and ~70 employees, will operate as a wholly owned subsidiary of Reliance Standard and expand Reliance Standard's New York market position.

Allstate Acquires National General Holdings

July 7, 2020

Insurance

The Allstate Corporation agreed to acquire National General Holdings Corporation for approximately $4.0 billion in cash (total $34.50 per share including expected closing dividends), a transaction expected to close in early 2021 subject to regulatory approvals. The deal expands Allstate's personal lines premiums by about $4.0 billion, increases market share among independent agent distribution, and is expected to be accretive to adjusted net income per share and ROE in the first year.

Choice Financial Group Acquires Employee Benefits of Virginia

December 18, 2024

Insurance

Choice Financial Group, a Virginia Beach–headquartered insurance agency backed by Northlane Capital Partners, has acquired Employee Benefits of Virginia, a Richmond-area employee benefits advisory firm. The deal expands Choice's employee benefits capabilities and strengthens its presence in the Mid-Atlantic (Virginia) market.

Risk Strategies Acquires Standard Pension Services, LLC

September 19, 2022

Financial Services

Risk Strategies, a national specialty insurance brokerage, acquired Standard Pension Services, LLC, a Garden City, New York-based retirement plan and employee benefits firm. The deal expands Risk Strategies' financial services capabilities—particularly in retirement planning, plan administration and wealth management. Terms were not disclosed.