Tag: ceo tom wilson

Allstate’s $2 Billion Deal: What Investors and Policyholders Need to Know About the Big Sell-Off

Ester Adams
Allstate's $2 Billion Deal: What Investors and Policyholders Need to Know About the Big Sell-Off

Allstate Divests Employer Voluntary Benefits Business for $2 Billion: Impact on Investors and Policyholders In a strategic move that sent ripples through the insurance sector, Allstate has sold its Employer Voluntary Benefits business to StanCorp Financial Group, known as The Standard, for $2 billion. This transaction marks the beginning of Allstate’s plan to divest its Allstate Health & Benefits units, including Employee Voluntary Benefits, Individual Health, and Group Health, in a bid to unlock their growth potential by merging them with companies having complementary strengths. The announcement has been met…

Read More

Allstate Insurance announces Vice Chair Don Civgin retirement

Logan B.
Allstate Insurance - Retirement Announcement

The insurer simultaneously announced that it would be undergoing a change in its senior leadership. Allstate Insurance has announced the retirement of Vice Chair and CEO of Protection Products and Services Don Civgin. This decision to retire followed a “distinguished 13-year career,” with the insurer, according to a recent news release. Cigvin first came to the company in 2008, at which time he was the Chief Financial Officer. From that time, Civgin moved up in Allstate Insurance, becoming the President and CEO of Allstate Financial in 2012. In 2019, he…

Read More

Allstate plan for ‘transformative growth’ not unlike Progressive’s

Nordstrom
Allstate plan graph growth

CEO Tom Wilson’s strategy was launched late in 2019, but growth won’t arrive until the second phase. CEO Tom Wilson released the Allstate plan for “transformative growth” late last year. Though there has been a large number of changes throughout 2020, the promised growth has yet to be revealed. That said, the CEO says that the growth component will arrive with the second part of the strategy. Though Wilson has not set any dates as to when the second part will arrive – and the growth along with it –…

Read More

Allstate Insurance Corporation seeks to improve overall opinion of large companies

Logan B.
allstate insurance corporation good hands

The insurer’s CEO is working to show that corporations can and should play a positive role in solving society’s struggles. Allstate Insurance Corporation Chairman and CEO Tom Wilson chose the Washington Post as a vehicle to express his message to American corporations. He pointed out that the role of these exceptionally large businesses must change. According to Wilson, corporations should be a powerful force of positive change in society. He wrote that a complete mind-set shift will be required and that these companies can do good. “Corporations should be encouraged…

Read More