America's Benefit Specialist May 2023

vice life insurance brokerage specializing in the traditional and senior markets. The acquisition will add over 400 agents nationwide to Sproutt’s network of producers. The Reder Agency’s principal owner, Ben Reder, will join Sproutt as the senior vice president of distribution. THE STANDARD TO ACQUIRE LIFE & DISABILITY BUSINESS FROM ELEVANCE HEALTH StanCorp Financial Group Inc. (The Standard) and El evance Health have announced a definitive agreement under which The Standard will acquire the Life & Disability business from Elevance Health and enter into a product distribution partnership. The Standard, a group life, disability and ancillary benefit provider, was founded in 1906 and sold its first employee benefits policy in 1951, a case that remains in force today. El evance Health provides health solutions that serves custom ers through a diverse portfolio of medical, digital, pharmacy, behavioral, clinical and complex-care solutions. Its Life & Disability unit is a respected provider of life, disability and related employee benefits. The companies have a complementary geographic pres ence and a favorable concentration of business and broker relationships nationwide. The distribution agreement part ners The Standard’s sales team with Elevance Health’s medi cal sales team, expanding The Standard’s network and bring ing a trusted life and disability partner to Elevance Health customers for group life, short-term and long-term disability and accidental death and dismemberment insurance prod ucts, as well as paid family leave and absence-management

services. The acquisition further expands The Standard’s distribution network and provides a life and disability partner for Elevance Health customers. Upon closing, The Standard will acquire Elevance Health’s life, disability, accidental death and dismemberment, absence-management and paid family leave businesses. The transaction will significantly accelerate The Standard’s growth and expand the scale and competitive position of the company’s employee benefits business in the U.S. As of De cember 31, 2022, Elevance Health served 4.8 million covered lives concentrated in 14 states. Citi is acting as financial advisor and Debevoise & Plimpton is acting as legal advisor to The Standard. Barclays is acting as financial advisor and Faegre Drinker is acting as legal advisor to Elevance Health. HILB GROUP ACQUIRES NATIONAL ENROLLMENT PARTNERS The Hilb Group has acquired Minnesota-based National Enrollment Partners, broadening its benefits capabilities. Na tional Enrollment Partners specializes in benefits enrollment and administration through its network of partner agencies and associate members. The transaction became effective February 1. “We are excited to welcome National Enrollment Partners and grow our operations in additional key markets,” Hilb Group CEO Ricky Spiro said. “This partnership allows us to expand our products and services to a greater number of communities and customers as we continue to build upon our proven strategy for success.”

INDUSTRY EVENTS

MAY 8-10 BENEFITSPRO BROKER EXPO Atlanta, GA www.event.benefitspro.com/ bprobrokerexpo MAY 17-19 LIMRA MARKETING FORUM

JUNE 5-7 Q4LIVE San Diego, CA www.q4live.q4intel.com JUNE 11-14 SHRM23 ANNUAL CONFERENCE & EXPO

JUNE 13-15 AHIP 2023

OCTOBER 22-24 LIMRA ANNUAL CONFERENCE National Harbor, MD www.limra.com

Portland, OR www.ahip.org JUNE 16-18 WOMEN OF INSURANCE ANNIVERSARY CONFERENCE Nashville, TN www.womenofinsurance.org

Las Vegas, NV www.shrm.org

Las Vegas, NV www.limra.com

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