Thomas Wilson, the chief executive officer of Allstate Corp. has chosen a new head…
for the largest unit of the insurance company, home and auto coverage, in an effort to increase residential business profits.
According to a statement released by the insurer, the unit’s new president is named Matt Winter.
He had previously been the life insurance business head, a role that is now being filled by the chief financial officer, Don Civgin. Equally, he will be replaced as CFO by Steve Shebik.
The company also explained that for personal reasons, a senior executive vice president named Mark LaNeve, who had previously experienced a broadening in his responsibilities in 2011 to oversee the operations of the agency, has now resigned.
Fifty four year old Wilson has been changing the positions of the senior execs at Allstate since July 2011, when the previous head of home and auto insurance, Joseph Lacher, left the company. In November, Wilson widened the responsibilities of Winter and LaNeve, the former of whom was given the responsibility of overseeing claims in the property and casualty unit, as well as risk management.
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Spokesperson for Allstate, Brian Faith, declined the opportunity to comment on the subject, though Wilson’s own statement said that the insurer is “confident in the abilities of our strong leadership team.”
The insurance company, under Wilson, has been increasing its residential coverage rates. He explained that it has been “some time” since that segment of the business had been able to generate any degree of acceptable profits.