Allstate To Sell Allstate Life Insurance To Blackstone For $2.8 Bln
Allstate Corp. has agreed to sell Allstate Life Insurance Co. or ALIC to entities managed by Blackstone for $2.8 billion, including a pre-closing dividend from ALIC of up to $400 million. The sale excludes Allstate Life Insurance Company of New York. Blackstone will enter into an asset management agreement for ALIC’s $28 billion.
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