Best’s News & Research Service - December 17, 2014 04:02 PM (EST)
Allstate Promotes Winter to President in Reorganization
NORTHBROOK, Ill. //BestWire// - Allstate Corp. has promoted Matt Winter to president of the company, assuming a title from Thomas J. Wilson, who remains the company's chairman and chief executive officer.
Winter will also become CEO of Allstate Life Insurance Co. He currently serves the company as its personal lines president. In his new role he will retain responsibility for Allstate branded property/casualty business and integrate Allstate's life insurance operations into Allstate personal lines.
"Matt is an exceptional leader," Wilson said in a statement. "He has been a key to our success in positioning Allstate agencies for profitable growth."
Allstate has been adding agencies in the past two years following a years-long decline during a period in which the insurer reshaped its business. The company is now trying to position its agents as "trusted advisers" to help retain customers longer (Best's News Service, Dec. 9, 2014).
Along with Winter's promotion, Allstate announced other organizational and leadership changes as the carrier looks to better serve its customers and improve operations, according to a statement. The changes take effect Jan. 5.
Two other promotions surround the company's Allstate-branded business. Allstate Western Territory President James A. Haskins will become an executive vice president in charge of Allstate brand distribution, while Allstate's chief administrative officer, Jim DeVries, will become executive vice president in charge of Allstate brand operations.
Don Civgin, who is currently president and CEO of Allstate Financial and oversees Esurance, will become president of Allstate's emerging businesses and report to Wilson. Under Civgin's umbrella will be business-to-business, Esurance, Answer Financial, annuities and the company's connected car initiatives. The business-to-business organization includes Encompass, Ivantage, Allstate Dealer Services, Allstate Business Insurance, Allstate Roadside Services and Allstate Benefits, and will continue to be led by Kathy Mabe.
Suren Gupta, who is currently an Allstate executive vice president in charge of technology and operations, will become an executive vice president in charge of enterprise technology and strategic ventures. He will lead the global technology organization and oversee Allstate's investments in companies that advance its technology-driven customer-focused strategy. Gupta will continue reporting to Wilson. Harriet Harty is being promoted to executive vice president in charge of human resources.
Allstate Insurance Group companies currently have a Best's Financial Strength Rating of A+ (Superior). On the afternoon of Dec. 17, shares of Allstate Corp. (NYSE: ALL) were trading at $68.33, up 1.67% from the previous close.
(By Michael Buck, senior associate editor, BestWeek: Michael.Buck@ambest.com)