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Allstate is seeking a 'dealmaker' as chief investment officer for its $79 billion portfolio. (Photo: Shutterstock)

(Bloomberg) — Allstate Corp. Chief Executive Officer Tom Wilson is looking for more than a bond buyer as he seeks an investment manager to run the insurer’s $79 billion portfolio.

“We need somebody who knows deals,” Wilson, who is also chairman of the largest publicly traded U.S. home and auto insurer, said in an interview this week at the company’s headquarters in Northbrook, Ill. “You’ve got to know which way the market is moving, fund flows and deals. So you have to be both a macro- and micro-investor, but you don’t necessarily need to be an insurance investor.”

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