Allstate Insurance said it will sell the...
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Allstate Insurance said it will sell the corporate accounts and group brokerage operations of its life-insurance subsidiary, which it said make up less less than 20% of the unit’s revenue. Group pension and group operations sold by agents will not be affected, Allstate said. Chairman Herbert Lister said his unit will focus marketing strategies on individual life insurance products and group policies sold by Allstate agents. Lister said the company intends to sell the divisions “as operating businesses” to a buyer able to continue serving the policy holders.
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