12.7 C
New York
Tuesday, April 16, 2024

The Commonplace finalises buy of Elevance’s life & incapacity unit 

US monetary companies and insurance coverage firm StanCorp Monetary Group (the Commonplace) has accomplished the acquisition of Elevance Well being‘s life and incapacity enterprise.  

This transfer is predicted to reinforce the Commonplace’s place within the US worker advantages market. 

Monetary phrases of the transaction, which was introduced in March 2023, weren’t disclosed.  

Elevance Well being’s life and incapacity unit contains life, incapacity, unintentional loss of life and dismemberment, absence administration and paid household depart companies. 

Below the settlement, a ten-year distribution partnership has additionally been established.  

This may enable the Commonplace’s services to be supplied to Elevance Well being prospects, with the Commonplace’s gross sales crew and Elevance Well being’s medical gross sales crew working collectively to advertise these choices. 

Entry probably the most complete Firm Profiles
available on the market, powered by GlobalData. Save hours of analysis. Acquire aggressive edge.

Firm Profile – free


Your obtain e mail will arrive shortly

We’re assured concerning the
high quality of our Firm Profiles. Nevertheless, we would like you to take advantage of
resolution for your small business, so we provide a free pattern that you could obtain by
submitting the under kind

By GlobalData

Go to our Privateness Coverage for extra details about our companies, how we could use, course of and share your private information, together with info of your rights in respect of your private information and how one can unsubscribe from future advertising and marketing communications. Our companies are supposed for company subscribers and also you warrant that the e-mail handle submitted is your company e mail handle.

The mixed life and incapacity advantages companies will proceed to function underneath the Commonplace model.  

It contains the mixing of Elevance Well being’s life and incapacity staff and operations into the Commonplace’s present construction. 

The Commonplace president and CEO Dan McMillan mentioned: “This transaction is a crucial milestone in our development within the worker advantages market in addition to the start of a brand new mutually useful partnership with Magnificence Well being.” 

Elevance Well being govt vice-president and president, industrial well being advantages, Morgan Kendrick, mentioned: “We sit up for our continued partnership with the Commonplace and worth their experience within the life and incapacity enterprise. Collectively we’re dedicated to making sure a seamless transition for the purchasers we collectively serve.” 

Based mostly in Portland, Oregon, the Commonplace supplies a spread of merchandise together with group and particular person incapacity insurance coverage, group life, dental and imaginative and prescient insurance coverage, voluntary advantages, paid household depart, absence administration companies, and retirement plans and annuities for each employers and people. 

Related Articles


Please enter your comment!
Please enter your name here

Latest Articles