StanCorp Financial Group, Inc. 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 distribution agreement partners The Standard's sales team with Elevance Health's medical sales team, bringing a trusted partner to Elevance Health customers for group life, short term and long term disability, accidental death and dismemberment insurance, and paid family leave and absence management services.