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April 3, 2024

The Standard

Portland-based StanCorp Financial Group (The Standard) announced the closing of the acquisition of the Life & Disability business from Elevance Health in accordance with the terms of the agreement reported on March 28, 2023. The agreement includes a 10-year distribution partnership whereby The Standard's products and services will be made available to Elevance Health customers. The combined life and disability benefits businesses will operate under The Standard brand and include the Elevance Health Life & Disability employees and operations. The distribution agreement partners The Standard's sales team with Elevance Health's medical sales team for customers for group life, short term and long term disability, accidental death and dismemberment insurance, and paid family leave and absence management services. Elevance Health's companies serve more than 115 million customers through a portfolio of medical, digital, pharmacy, behavioral, clinical, and complex care solutions.




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