The Allstate Corporation (NYSE: ALL) has agreed to a transaction in which Wilton Re will pay $220 million to acquire Allstate Life Insurance Company of New York (ALNY). The transaction is expected to close in the second half of 2021, subject to regulatory approval and other closing conditions.
This transaction, along with the agreement announced in January to sell Allstate Life Insurance Company (ALIC) and certain affiliates to entities managed by Blackstone, completes Allstate’s exit from the life and annuity businesses. Allstate agents and exclusive financial specialists will continue to meet customers’ needs by offering a full suite of life
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