Strengthens Blue Cross Life's voluntary benefits presence in the Canadian workplace market
MONCTON, NB, March 19, 2026 /CNW/ - Blue Cross Life Insurance Company of Canada ("Blue Cross Life") announced today that it has entered into a definitive agreement to acquire the Canadian voluntary benefits business of StanCorp Financial Group, Inc. ("The Standard") (the "Transaction"). The Standard acquired this Canadian block of business from Allstate Corporation in 2025 as part of its broader acquisition of the Allstate voluntary benefits business. The Canadian voluntary benefits business continues to be marketed under the Allstate brand. Since 2015, the business has provided critical illness insurance and accident insurance products in Canada and currently covers approximately 170,000 employees and their families.
Read more at newswire.ca