Allstate completes sale of life and annuity businesses

Northbrook, ill.--(business wire)--the allstate corporation (nyse: all) today announced that it has closed the sale of allstate life insurance company (alic) and certain subsidiaries to entities managed by blackstone for total proceeds of $4 billion, which is inclusive of blackstone's approximately $2.8 billion purchase price, as well as increases in statutory surplus since march 31, 2020. “allstate's strategy is to increase personal property-liability market share and expand protection offerin
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