Aug 13 (Reuters) - U.S. casualty insurer Allstate ( ALL )

has sold its employer voluntary benefits business to

StanCorp Financial Group for $2 billion in cash, Allstate ( ALL )

announced on Tuesday.

StanCorp's Japanese parent company, Meiji Yasuda Life

Insurance, said the acquisition of Allstate ( ALL ) units under the

"American Heritage" brand was set to close by the April-June

2025 quarter, subject to regulatory approvals in the U.S. and

Japan.

Meiji Yasuda said in a statement overseas business was a key

element in its plan to earn 100 billion yen ($680 million) base

profit equivalents by financial year 2026/2027, and it would

continue to explore further investment opportunities.

($1 = 147.1000 yen)

(Reporting by John Biju in Bengaluru and Kantaro Komiya in

Japan; Editing by Anil D'Silva and Stephen Coates)