A Faegre Drinker team led by corporate partner Jonathan Nygren and insurance partner Jared Danilson represented Elevance Health in negotiating the sale of its life and disability business to StanCorp Financial Group, Inc. (The Standard), a family of companies dedicated to helping customers achieve financial well-being and peace of mind. The companies will also enter into a product distribution partnership.
The distribution agreement will partner The Standard’s sales team with Elevance Health’s medical sales team, bringing a trusted life and disability partner to Elevance Health customers for group life, short- and long-term disability and accidental death and dismemberment insurance products, as well as paid family leave and absence management services.
The deal team also included insurance partner Jason Kimpel and associate JT Minor and corporate partner Vanessa Tabler and associates Jennifer Lucas and Mel Pulles. Further cross-office, cross-practice support was provided by corporate tax partner Charles Bybee, government and regulatory partner Doriann Cain, intellectual property partner Robert Leonard, real estate partner Paul Moe, antitrust partner Kenneth Vorrasi, benefits and executive compensation senior counsel Michael MacLean, labor and employment counsel Rhiannon Beckendorf and business litigation associate Alison Agnew.
Elevance Health, headquartered in Indianapolis, is an industry leader in health solutions that serves customers through a diverse portfolio of medical, digital, pharmacy, behavioral, clinical and complex care solutions.
Read the full press release for more information on the deal.