Allstate Completes Sale of Life Insurance Company of New York
October 5, 2021 by News Desk
The Allstate Corp. moved closer to its complete exit from the life insurance and annuity business with the closing of the sale of its Allstate Life Insurance Company of New York to Wilton Re for approximately $400 million.
The ALNY transaction, along with the previously announced agreement to sell Allstate Life Insurance Co. (ALIC) to Everlake US Holdings Co., an entity managed by Blackstone Group. for $2.8 billion, will complete Allstate’s exit from the life and annuity businesses.