NORTHBROOK, Sick., Aug. 18, 2022 – Allstate’s dedication to purpose-driven management helps the continued give attention to enhancing auto insurance coverage margins whereas executing its Transformative Progress technique. Glenn Shapiro, who has efficiently led the Property-Legal responsibility companies since 2018, has determined to retire, having led the initiation of Transformative Progress and quickly tailored to the impacts of inflation on auto insurance coverage margins.
Mario Rizzo, presently the Chief Monetary Officer, has been a full accomplice in these successes and can succeed Glenn as President, Property-Legal responsibility. Jess Merten will assume the Chief Monetary Officer function, leveraging his broad monetary and working expertise at Allstate over the past decade.
“Allstate’s management staff is aligned on constructing a purpose-driven firm that serves clients, workers, shareholders and communities, which makes management transitions seamless,” stated Tom Wilson, Chair, President and CEO of The Allstate Company. “Glenn is an distinctive chief who expanded property-liability distribution, considerably lowered prices to offer larger worth to clients and superior our digital transformation. Mario’s management capabilities and breadth of expertise throughout his 33 years at Allstate will make sure that this momentum is maintained. Jess is ideally suited to be the Chief Monetary Officer, with success in a number of monetary roles and most lately main Allstate Monetary and the divestiture of the life and annuity companies,” concluded Wilson.
Abstract of management adjustments:
- Glenn Shapiro, President, Property-Legal responsibility, has determined to retire efficient Sept. 30. He joined Allstate as Chief Claims Officer in 2016 and has held his present place since 2018.
- Mario Rizzo grew to become Chief Monetary Officer in 2018 and has been profitable in many alternative roles since becoming a member of Allstate 33 years in the past. He’ll change into President, Property-Legal responsibility, on Sept. 1.
- Jess Merten joined Allstate in 2012 as Chief Monetary Officer, Allstate Monetary, and subsequently held the roles of Treasurer, Chief Danger Officer and President, Allstate Monetary. Jess will change into Chief Monetary Officer of The Allstate Company on Sept. 1.
The Allstate Company (NYSE: ALL) is without doubt one of the largest publicly held private traces property and casualty insurers in America, with greater than 190 million insurance policies in pressure and revenues of $50.6 billion in 2021. Allstate protects folks from life’s uncertainties with a circle of safety together with vehicles, houses, digital gadgets, advantages and identification theft. Merchandise can be found via a broad distribution community together with Allstate brokers, impartial brokers, main retailers, on-line and on the office. Allstate is extensively recognized for the slogan “You’re in Good Fingers with Allstate.”
Monetary data, together with materials bulletins about The Allstate Company, is routinely posted on www.allstateinvestors.com.
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