Allstate Eyes Health, Benefits Units Sale

Insurer Allstate Corp (ALL.N) posted a quarterly profit, compared to a year-ago loss, on the back of higher premiums in its property-liability unit. The company said it was pursuing the sale of Allstate’s Health and Benefits businesses and expects a sale would likely be completed in 2024. Demand for insurance products has remained resilient in an uncertain economy and the sector is typically considered recession-proof as many policies are often guaranteed by employers, while some are mandated by the government.

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