Allstate announces leadership changes as part of growth strategy

NORTHBROOK, Ill. - Insurance provider Allstate Corporation (NYSE:ALL), a $55.6 billion market cap company trading near its 52-week high, announced several changes to its senior leadership team effective Oct. 1, 2025, as part of its ongoing Transformative Growth initiative. According to InvestingPro analysis, the company appears undervalued at current levels, with strong financial health metrics.

Mario Rizzo will become Chief Operating Officer, overseeing the Property-Liability and Protection Services businesses. Rizzo previously served as President of Property-Liability.

Current Chief Financial Officer Jess Merten will transition to President of Property-Liability, reporting to Rizzo in the new structure.

John Dugenske, who currently serves as President of Investments and Corporate Strategy, will take on the additional role of interim Chief Financial Officer while the company conducts an external search for a permanent replacement.

"The Transformative Growth initiative has positioned Allstate to increase property-liability market share and expand protection offered to customers," said Tom Wilson, Chair, President and CEO of The Allstate Corporation, in the press release announcing the changes. The company’s strategic positioning appears to be paying off, with revenue reaching $66.2 billion in the last twelve months and maintaining an attractive P/E ratio of 10.

Wilson added that these leadership adjustments are intended to help complete the company’s Transformative Growth initiative and better utilize artificial intelligence to serve customers, generate shareholder returns, and create opportunities for employees.

Allstate, known for its "You’re in Good Hands with Allstate" slogan, currently has more than 208 million policies in force across its various protection products, which include coverage for automobiles, homes, electronic devices, and identities. The company has maintained dividend payments for 33 consecutive years, with 14 years of consecutive dividend increases. Get deeper insights into Allstate’s performance metrics and 12 additional exclusive ProTips with InvestingPro.

In other recent news, Allstate has been the focus of several analyst assessments and updates. Allstate reported $213 million in catastrophe losses for August, with a post-tax impact of $168 million, or approximately $0.63 per share, primarily due to wind and hail storms. Despite these losses, Piper Sandler maintained its Overweight rating on Allstate, citing lower-than-expected catastrophe losses and growth in policies-in-force, particularly in the Auto segment. Meanwhile, Evercore ISI downgraded Allstate from Outperform to In Line, attributing the decision to a balanced risk-reward profile following the stock’s strong performance this year.

KBW reiterated its Outperform rating, highlighting improving momentum in Allstate’s auto policy growth. Jefferies also maintained a Buy rating but slightly reduced its price target from $255 to $250, citing moderated near-term growth estimates in policies-in-force. BMO Capital reiterated its Outperform rating and maintained a $235 price target after discussions with Allstate’s leadership. These developments provide a varied perspective on Allstate’s current and future performance from multiple analyst firms.

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