Allstate announces agreement to sell allstate life insurance company

Northbrook, ill.--(business wire)--the allstate corporation (nyse: all) has agreed to sell allstate life insurance company (alic) to entities managed by blackstone for $2.8 billion. alic holds approximately 80% (or $23 billion) of allstate's life and annuity reserves and generated net income of $467 million in 2019 and a net loss of $23 million in the first nine months of 2020. the transaction is subject to regulatory approval with an expected closing in the second half of 2021. “allstate is de
ALL Ratings Summary
ALL Quant Ranking