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Blue Cross Life Insurance Company of Canada ("Blue Cross Life") completed the acquisition of the Canadian voluntary benefits business of StanCorp Financial Group, Inc. ("The Standard"). 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.
Blake, Cassels & Graydon LLP is serving as legal counsel to Blue Cross Life, while Borden Ladner Gervais LLP represented The Standard.
Parties
Company
Blue Cross Life Insurance Company of Canada
Company
StanCorp Financial Group, Inc.
Deal Type
Merger & AcquisitionIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
03 July 2026