Blue Cross Life Insurance Company of Canada said it has agreed to acquire the Canadian voluntary benefits business of StanCorp Financial Group, strengthening its position in a market where voluntary benefits adoption is accelerating as employers seek flexible, cost-effective coverage options amid rising healthcare costs. The acquisition includes a well-established Canadian portfolio that has provided critical illness insurance and accident insurance products since 2015, currently covering about 170,000 employees and their families. StanCorp acquired this Canadian block from Allstate last year as part of its broader acquisition of the Allstate voluntary benefits business.
Read the full article: Blue Cross Life to Acquire StanCorp’s Canadian Voluntary Benefits Portfolio //
Source: https://www.insurancebusinessmag.com/ca/news/mergers-acquisitions/blue-cross-life-to-acquire-stancorps-canadian-voluntary-benefits-portfolio-569287.aspx