Allstate sells off the last of its life insurance business

Life insurance business - sale - business deal

The insurer from Northbrook, Illinois is taking steps for a final exit from that industry sector. Allstate has decided to make a complete departure from the life insurance business, selling off the rest of what remained of its shrunken coverage unit. The giant announced that it had come to a deal with Wilton Re to sell the rest of the life unit. To close this deal, Allstate chose to book a $4 billion loss in the first quarter. In it, the company has sold the last of its life insurance…

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