The Allstate Corporation (NYSE:ALL) shares are trading higher after the company reached a definitive deal to sell its Employer Voluntary Benefits business to StanCorp Financial Group, Inc. for $2.0 billion in cash, subject to customary conditions and approvals. The sale is projected to generate a $600 million gain and increase deployable capital by $1.6 billion. Allstate expects adjusted net income return on equity to decrease by approximately 100 basis points after the sale. The deal is anticipated to close in the first half of 2025. The sale marks the initial phase of Allstate’s strategy to enhance growth by merging its ...