Lacher to Head Allstate’s P/C Division

November 17, 2009

The Allstate Corp. has named Joseph P. Lacher, Jr., 40, as president of Allstate Protection, effective November 30, 2009. He will lead all of Allstate’s property and casualty offerings, “serving over 17 million American households,” said the bulletin.

He will also serve as a member of the senior management team and report to Thomas J. Wilson, Allstate’s chairman, president and CEO.

Lacher succeeds George Ruebenson who is retiring after nearly 40 years of service to Allstate. Ruebenson remains at Allstate through December 31, 2009 and will work closely with Lacher to ensure a smooth and effective transition.

From 2002 to 2009 Lacher served as the chief executive officer of Personal Insurance and executive vice president at Travelers. In 2006 he also assumed responsibility for small commercial insurance as the executive vice president of Personal Insurance and Select Accounts.

Allstate noted that these “businesses represent approximately 45 percent of Travelers’ premiums. During his tenure at Travelers, which began in 1991, Lacher held a variety of leadership positions, including senior vice president of Pricing, Product and Underwriting for Personal Lines, senior vice president of Strategic Distribution for Personal Lines and chief financial officer of Select Accounts.”

Wilson stressed that Lacher’s leadership experience would help Allstate in its competition with other carriers and that he would play a key role “on our team as we reinvent to build a foundation for sustainable growth.”

Lacher noted that had “competed against Allstate for my entire career,” and considered the company to be “a first class organization with a first class leadership team and a commitment to be even better.”

“Joe’s deep industry experience and track record of success will allow him to make an immediate contribution to driving progress,” Wilson concluded.

Source: Allstate Corporation – www.allstate.com

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