The Allstate Corporation made a strategic decision to exit the primary life insurance sector to focus squarely on its core property, casualty, and auto insurance operations. Consequently, Allstate sold its entire life insurance and annuity subsidiary business to entities managed by Blackstone for $2.8 billion. The business was subsequently renamed Everlake Life Insurance Company, which currently administers all legacy life policies and annuity contracts under independent management.
1 votes
Marked as accepted