secwatch.observer — SEC 8-K summary
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Issuer:     ALLSTATE CORP (ALL)
CIK:        0000899051
Form:       8-K
Filed at:   2024-08-13T23:59:59+00:00
Accession:  0000899051-24-000058
Event type: m_and_a
Sentiment:  positive
Materiality: 0.80
Item codes: 8.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Allstate to sell Employer Voluntary Benefits to The Standard for $2B cash; expects gain of ~$600M
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- Sale includes American Heritage Life Insurance and American Heritage Service Company; expected close first half 2025.
- Allstate sees gain of about $600M and increase in deployable capital by $1.6B; Adjusted net income ROE to decline ~100 bps.
- Sold business had H1 2024 revenues of $535M, Adjusted Net Income of $45M, statutory capital and surplus of $255M.
- Five-year exclusive distribution arrangement allows Allstate agents to offer broader options to customers.
- Discussions on sale of Individual and Group Health businesses continuing; J.P. Morgan and Ardea Partners advising Allstate.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/899051/000089905124000058/0000899051-24-000058-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/899051/000089905124000058/all-20240813.htm
  HTML page:      https://secwatch.observer/filing/0000899051-24-000058

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer