A Faegre Drinker team 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.
Headquartered in Indianapolis, Elevance Health 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.