Allstate Corp. did some shuffling of it’s senior leadership team Oct. 1.
Effective immediate, Mario Rizzo is chief operating officer. He will be responsible for the Northbrook, Illinois-based insurer’s Property-Liability and Protection Services businesses.
Rizzo, who has been with Allstate for over 30 years, was previously president of Property-Liability. Taking that role now will be Jess Merten, who had been Allstate’s chief financial officer. Merten will report to Rizzo.
John Dugenske, president of investments and corporate strategy, is now the interim CFO while Allstate searches for someone for the position.
Allstate CEO Tom Wilson said the changes are the “next logical step to complete our ‘transformative growth’ initiative and enable us to leverage artificial intelligence to better serve customers, earn returns for shareholders and create opportunity for employees.”
The strategy has been in place for years. For several years, a key has been steep increases in auto insurance rates to improve profitability. Early this year, the insurer said it had reached profitability targets in auto. Allstate’s auto segment turned in an underwriting profit of $1.8 billion for full year 2024, reversing a loss of $1.1 billion the prior year.
Related: Allstate to ‘Lean Into’ Turnaround in Auto Business, and Grow
Was this article valuable?
Here are more articles you may enjoy.
Amazon Delivery Firms Are Bailing Amid Rising Costs, Meager Profit 
All Commercial Insurance Lines Except One in ‘Soft-Market Territory’: WTW 
Chubb Books Record P/C Underwriting Income, Combined Ratio in Q3 
New York Hospital Insurer Files for Bankruptcy, Citing Child Sex Abuse Claims 
