NU Online News Service, Feb. 28, 10:19 a.m. EST
Allstate Corp. has announced some important senior management changes, including a new leader of auto and home business through agents, after a key resignation.
Matt Winter, previously senior executive vice president of insurance operation and president and chief executive officer of Allstate Financial, is now the corporation’s president of Allstate Auto, Home and Agencies.
Winter will lead Allstate’s personal lines business provided by Allstate agencies, the company says in a statement.
Don Civgin, who has been Allstate’s chief financial officer, is now the president of Allstate Financial.
Steve Shebik, has been promoted to chief financial officer.
The moves were made following the resignation of Mark LaNeve, chief marketing officer and senior executive vice president of agency operations, for personal reasons.
Allstate Chief Executive Officer Thomas J. Wilson reiterated, saying “Mark’s resignation was a personal one.”
“The new structure leverages our strong leadership team, is consistent with our strategy of providing differentiated products and services for unique customer segments and will drive focus on our 2012 operating priorities,” Wilson says.
The number of Allstate exclusive agencies fell to about 10,000 from about 11,500 in 2010, according to a company filing with the Securities and Exchange Commission.
Allstate has made some changes to the compensation it gives its agents. LaNeve told agents in a letter late last year that Allstate will not cut base commissions to 8 percent, but only one percentage point to 9 percent beginning in 2013.
The company says it has also offered financing for agency acquisition and rewards better-performing agencies.
The number of locations of agencies has dropped from 10,850 locations in 2010 to 9,700 locations in 2011.
Agents are also dealing with the integration of direct distribution, with Allstate’s acquisition of Esurance and Answer Financial.
In his role as CFO Civgin was credited with leading the acquisition while managing capital and expanding risk management.
The senior leadership team also got a new member. Steve Verney, chief risk officer, will remain in the role but was promoted to the team, says Allstate.
