The charts on this page feature a breakdown of the total annual pay for the top executives at ALLSTATE CORP as reported in their proxy statements. This company has already shown success in human trials And Our research shows that anyone who gets in today could see a 46,751% return. "Mario Rizzo, president of Allstate In November 2020 Allstate made DE&I history when it priced $1.2 billion of 5-year and 10-year senior notes through a syndicate exclusively comprised of minority-, women- and veteran-owned business enterprises (MWVBEs). It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property Liability and Corporate and Other. VP & CFO of Allstate Corp, the total compensation of Mr Rizzo at Allstate Corp is $2,028,151. Rizzo has a bachelors degree in economics from the University of Michigan and an MBA in finance and accounting from the University of Chicago. It was reported that Property-Liability earned premium of $10.9bn increased 8.6% in the second quarter of 2022 compared to the prior year quarter, which was driven primarily by higher average premiums and policies in force growth. The largest trade he's ever made was exercising 25,648 units of Allstate Corp stock on 4 February 2022 worth over $1,811,262. Mario Rizzo is president, Property-Liability, responsible for product, claims, operations, service and distribution related to Allstate's personal and commercial lines of insurance. Jeff Thomson: Insurance is an increasingly commoditized market, with consumers often choosing carriers based on price alone. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. . ALLSTATE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Insiders at Allstate own 1.8% of the company. There are 9 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. But that doesnt mean insurance companies cant be innovative, dynamic changemakers within their industry and in broader society. (312) 263-1661 |info@feichicago.org|www.feichicago.org. Mario Rizzo was named president, Property-Liability, at Allstate effective September 1. Mario Rizzo received an undergraduate degree from the University of Michigan and an MBA from The University of Chicago. Your update should be done soon. Owner. When we do this successfully, well address the price variable of the equation, while also differentiating our customer value proposition in the market. Mario Rizzo is president, Property-Liability, responsible for product, claims, operations, service and distribution related to Allstate's personal and commercial lines of insurance. This represents a 50% increase from the . On average, Allstate Corp executives and independent directors trade stock every 14 days with the average trade being worth of $4,054,033. Please. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Our recent bond issuance is proof of that, where we were able to drive a terrific outcome in supporting equity in financial markets. Mario Rizzo Age : 55 Public asset : 7,246,735 USD Country of residence : Unknown Biography of Mario Rizzo Mario Rizzo occupies the position of Chief Financial Officer & Executive Vice President for The Allstate Corp. and Chief Financial Officer & Executive Vice President of Allstate Insurance Co. (a subsidiary of The Allstate Corp.). Mario has made over 4 trades of the Allstate Corp stock since 2018, according to the Form 4 filled with the SEC. It's taking a bit longer than expected. The Allstate Corporation protects people from life's uncertainties with a wide array of protection for autos, homes, electronic devices and identity theft with more than 172 million policies in force. All proxy statements are public filings made available to the general public by the SEC. In addition, he makes $4,426,140 as Chief Financial Officer et Executive Vice President at Allstate Corp. Lisa Wicka. Rizzo serves as a member of the finance committee and the governing board of UCAN Chicago, an organization focused on empowering youth to develop into future leaders. Learn More about insider trades at Allstate. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. You can see the complete history of Mr. Rizzo stock trades at the bottom of the page. The Run-off Property Liability relates to property and casualty insurance policies with exposure to asbestos, environmental and other claims. Allstate. This was something I learned when I recently spoke with Mario Rizzo, CFO of Allstate. Executive Vice President and Chief Financial Officer The Allstate Corporation Jan 2018 - Present5 years 2 months Northbrook, Illinois Senior Vice President and CFO, Allstate Personal Lines. Shapiro joined Allstate as chief claims officer in 2016 . Mr. Rizzo owns over 25,648 units of Allstate Corp stock worth over $7,992,109 and over the last 5 years he sold ALL stock worth over $0. There was some risk in trying something new and different but we started reaching out to other companies for their thoughts, including our partner banks, and without exception the answer was: do it. Rizzo has been the senior vice president and chief financial officer of Allstate's personal lines business since June 2014. We are in the business of taking risk and generating adequate returns on those risks, and we have been managing the impacts of climate change in our homeowners business for many years. VP & CFO at Allstate Corp. As the Exec. A free inside look at Allstate salary trends based on 13796 salaries wages for 2935 jobs at Allstate. This information is according to proxy statements filed for the 2021 fiscal year. All Rights Reserved. For its 2021 fiscal year, ALLSTATE CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Recent Reinsurance News Intact Financial Corporation has announced that the RSA UK Pension All Rights Reserved. Allstate can also be reached via phone at (847) 402-5000 and via email at [emailprotected] Learn More on Mario Rizzo's contact information. Finance has been a key part of building our strategy by partnering and collaborating with our businesses and deploying capital to support and accelerate our strategy with strategic acquisitions. Mario Rizzo is 53, he's been the Chief Financial Officer and Executive Vice President of Allstate Corp since 2018. You may retrieve the full proxy statement by going to the Securities and Exchange Commission (SEC) website at www.sec.gov and entering the company's name and then looking in the first column for an entry of "Form DEF 14A" (or any similar code). We have modified underwriting, redesigned our homeowners product to better match price with risk and created an internal brokerage to provide customers alternatives for coverage. Mario Rizzo is Chief Financial Officer, Executive Vice President of the company. But our solution set is much broader than just reinsurance. Mario Rizzo is the Exec. Mr. Rizzo earned a salary of $748,616.00, stock awards of $1,349,579.00, options awards of $917,031.00, non-equity compensation of $1,478,500.00, and other compensation of $25,790.00. You have entered an invalid ZIP. document.write(new Date().getFullYear()); Allstate Insurance Company. Information on this page was last updated on 2/22/2023. All proxy statements are public filings made available to the general public by the SEC. Mario Rizzo Glenn T. Shapiro Thomas J. Wilson BASE PAY $1,378,943 BONUS + INCENTIVE COMP $6,286,039 TOTAL CASH COMPENSATION $7,664,982 STOCK AWARD VALUE $6,335,804 OPTION AWARD VALUE $4,304,994 TOTAL EQUITY $10,640,798 TOTAL OTHER $63,211 TOTAL COMPENSATION $18,368,991 CEO Pay Ratio In the face of George Floyds murder and the civil unrest that followed, we realized we needed to do more. This chart shows Mario Rizzo's buying and selling at Allstate by year and by quarter. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. Location data not available. The update comes about two weeks after Allstate reported a loss of $310 million in the fourth quarter, mostly related to unprofitability in the auto insurance segment where Allstate recorded an. What is the salary of Mario Rizzo? There are 5 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. Phone Email. President, Property-Liability Together we can continue to drive systemic change. Before that, he was chief financial officer of Property-Liability, Allstate treasurer, and vice president, Allstate Protection Finance. The chart on this page features a breakdown of the total annual pay for Mario Rizzo, Executive Vice President and Chief Financial Officer at ALLSTATE CORP as reported in their proxy statements. Last updated: 21 February 2023 at 5:57pm EST. Do it. Rizzo serves as a member of the Finance Committee and the Governing Board of UCAN Chicago, an organization focused on empowering youth to develop into our future leaders. He joined the company in 1989. This article has been edited and condensed. Please try again. ALLSTATE CORP annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Chair, President and Chief Executive Officer, Executive Vice President, Chief Marketing, Customer and Communications Officer, Executive Vice President and Chief Claims Officer, Executive Vice President, Chief Legal Officer, General Counsel and Corporate Secretary, Executive Vice President and General Manager, Allstate Property-Liability Sales and Distribution, Executive Vice President, Product, Property-Liability, Executive Vice President and Chief Financial Officer, Executive Vice President and Chief Operating Officer, Property-Liability, Executive Vice President and Chief Risk Officer, Executive Vice President and President, National General, an Allstate company, Executive Vice President, Corporate Business Transformation, Executive Vice President, Chief Human Resources Officer, Executive Vice President and President, Protection Products and Services. As the Chief Financial Officer and Executive Vice President of Allstate Corp, the total compensation of Mario Rizzo at Allstate Corp is $4,426,140. Weve also advocated for the creation of more hurricane-resistant building codes, and the creation of state risk-sharing facilities such as the FHCF and the CEA. The Protection Services provides a range of products and services that expand and enhance customer value propositions including SquareTrade, Arity, Allstate Roadside and Allstate Dealer Services. He is on the board of directors of St. Laurence High School in Burbank, Illinois. They sold a total of 176,962 shares worth more than $23,587,115.41. He will become President, Property-Liability, on Sept. 1. You may also find the annual proxy statement by going directly to the company's website. Mario Rizzo President, Property-Liability Steve Sorenson Executive Vice President, Corporate Business Transformation Bob Toohey Executive Vice President, Chief Human Resources Officer Terrance Williams Executive Vice President and President, Protection Products and Services Meet our board Please enter zip code. Weve made great progress on our cost structure over the past several years, and our finance team has partnered with our business areas to identify and act on cost reduction opportunities. There are 5 executives at The Allstate getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. What motivated your decision making around this and why was it an important move when it came to Allstates DE&I contributions? senior financial executives in the United States and Canada. Insurance Tip Tuesday Looks like 2023 will see more increases for AllState Auto Insurance policy holders . The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. Executive Vice President and Chief Financial Officer. Opinions expressed by Forbes Contributors are their own. The impacts of catastrophes and climate change are core to financial planning and risk and return management processes because [theyre] foundational to our sustained success. It's taking a bit longer than expected. Oops! Mario Rizzo is the Exec. A proxy statement (or "proxy") is a form that every publicly traded U.S. company is required to file with the U.S. Securities & Exchange Commission (SEC) within 120 days after the end of its fiscal year. Loop Capital Markets client, Allstate, was an underwriter of the event and invited Sidney Dillard to be interviewed by Mario Rizzo, Allstate Chief Financial Officer to discuss Allstate's ground breaking $1.2 billion November 2020 bond transaction where the company utilized an all diverse-owned investment banking syndicate. Were also a founding member of OneTen, a corporate commitment to hire and promote a million Black Americans over the next 10 years. Another thing differentiating Allstate is the breadth of our products. He is also a certified public accountant. Of this total $748,616 was received as a salary, $1,478,500 was received as a bonus, $917,031 was received in stock options, $1,349,579 was awarded as stock and $25,790 came from other types of compensation. He has been CEO of Allstate since 2007 and became Chair of The Allstate Corporation's Board of Directors in 2008. We are a large buyer of catastrophe reinsurance, with a per-occurrence cover that starts at $500 million and exhausts at approximately $5.8 billion, as well as $1 billion in annual aggregate coverage. Allstate has disclosed that its president of property-liability, Glenn Shapiro, is retiring, effective September 30, with CFO Mario Rizzo taking his place, effective September 1. View Mario Rizzo's colleagues in Allstate Employee Directory. VP & CFO at Allstate Corp. What is the salary of Mr Rizzo? How has Allstates business model adapted to climate change, where there is no longer a question of if catastrophes will happen, just when? Is Allstate taking a more active role in helping clients implement more sustainable business practices? Rizzo: Inclusive diversity is one of Allstates core values, and its something weve long been committed to. Risk avoidance is the name of the game in insurance. Log in, Subscribers need to be logged in to see rest of this article. The Allstate Health and Benefits offers voluntary benefits and individual life and health products, including life, accident, critical illness, short term disability and other health insurance products sold through workplace enrolling independent agents and Allstate exclusive agencies. Mario Rizzo - FEI Chicago Chapter Financial Executives International (FEI) is the premier association for CFO's and other senior financial executives in the United States and Canada. Learn More on Mario Rizzo's contact information. The estimated net worth of Mario Rizzo is at least $6.34 million as of May 10th, 2021. Every carefully selected member of our Board of Directors helps us uphold our commitments to our stakeholders. The proxy statement includes footnotes and explanations of this information plus other information that is pertinent in assessing the overall value and appropriateness of the compensation information. We can help parents teach their kids to be safer drivers with our Drivewise telematics offering and, as people have been driving less since the beginning of the pandemic, our pay-per-mile Milewise product has grown dramatically, meeting the evolving driving needs of consumers and encouraging a low-carbon economy. Most recently he exercised 25,648 units of ALL stock worth 1,811,262$ on 4 February 2022. . As the Chief Financial Officer and Executive Vice President of The Allstate, the total compensation of Mario Rizzo at The Allstate is $4,426,140. ALLSTATE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. He is also a Certified Public Accountant. As of 4 February 2022 he still owns at least 62,375 units of Allstate Corp stock. 2023 Financial Executives International (FEI) Chicago. Our goal is providing affordable, simple and connected, digital-first experience to our customers; and were focused on delivering that experience through the four key elements of our strategy: expanding customer access across distribution channels, improving customer value through innovative product design and affordable prices, increasing the level and sophistication of our marketing investment, and building a new technology ecosystem. Its the most important work we do and its who we are as a company. Most recently, Mario Rizzo sold 25,648 shares of the business's stock in a transaction on Friday, February 4th. Thomson: Extreme heat, natural disasters and biodiversity losses have an outsized effect on the insurance industry, especially among property and casualty (P&C) insurers where losses from individual events like Hurricane Harvey now represent billions of dollars in loss. While we may all have different views on climate change, the increase in catastrophic activity and wildfires is indisputable. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. He has served as Senior Vice President and Chief Financial Officer, Allstate Personal Lines of AIC (February 2015 to January 2018); Senior Vice President and Treasurer of The Allstate Corporation (November 2010 to January 2015) and of AIC (November 2010 to February 2015). Rizzo has held numerous senior roles at Allstate during his 33 years with the company, most recently as executive vice president and chief financial officer of The Allstate Corporation and Allstate Insurance Company. Please try again. Over the last 20 years, insiders at Allstate Corp have traded over $110,916,122 worth of Allstate Corp stock and bought 62,875 units worth $3,501,510 The insurer also promoted Shebik as vice chairman. He is also on the board of Allstate Life Insurance Co., Uhlich Children's Advantage Network, National General Holdings Corp. and Allstate Global Holdings Ltd. The most active insiders traders include Thomas J Wilson, Edward M Liddy, and John W Rowe. While price is critically important, keeping our customers protected in all areas of their lives is how we keep them in good hands. What else does Allstates finance leadership do to promote DE&I? This report is not for commercial use. The proxy statement's main purpose is to alert shareholders to the annual meeting and provide them information about the issues that will be voted on during the annual meeting, including decisions such as electing directors, ratifying the selection of auditors, and other shareholder-related decisions, including shareholder-initiated initiatives. As Executive Vice President and Chief Financial Officer at ALLSTATE CORP, Mario Rizzo made $4,519,516 in total compensation. Mario Rizzo, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn as President, Property-Liability. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. CEO Pay Ratio For its 2021 fiscal year, ALLSTATE CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. It had never been done before, so we didnt know if it could be done. The most recent stock trade was executed by Jesse E Merten on 22 February 2023, trading 38,659 units of ALL stock currently worth $3,577,504. document.write(new Date().getFullYear()); Allstate Insurance Company. Mario Rizzo, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn as President, Property-Liability. The oldest executive at Allstate Corp (The) is Samuel Henry Pilch, 74, who is the Sr. Group VP & Controller of Allstate Insurance Company. Jess Merten will assume the Chief Financial Officer role, leveraging his broad financial and operating experience at Allstate over the last decade. The Allstate Corporation protects people from life's uncertainties with a wide array of protection for autos, homes, electronic devices and identity theft with more than 172 million policies in force. But the good news is, if China invades Taiwan, there is a way to protect yourself. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Russia's war on Ukraine latest: Putin casts war as battle for nation's survival, India FM Jaishankar says Soros dangerous, debate needed on democracy, Buffett's Berkshire profit falls on investments, currencies, Bill Gates buys Heineken stake, despite saying he's 'not a big beer drinker', Elon Musk recruits team to develop OpenAI rival - The Information, Hedge fund manager Chris Hohn demands Airbus drop Atos deal - letter, Elon Musk's challenge: Stay ahead of the competition, ISS urges Apple shareholders to vote for CEO Tim Cook, other execs' pay packages, Elon Musk accuses media of racism after newspapers drop 'Dilbert' cartoon, French media billionaire Niel fails with bid for TNT television frequence - Arcom, ZIONS BANCORPORATION, NATIONAL ASSOCIATION, Transcript : The Allstate Corporation, Q4 2022 Earnings Call, Feb 02, 2023, Transcript : The Allstate Corporation - Special Call, Allstate Names Jess Merten as Chief Financial Officer, The Allstate Corporation Announces CFO Changes, The Allstate Corporation Announces Executive Changes, Allstate Reports $223 million in July Catastrophe Losses, Raises Rates, Transcript : The Allstate Corporation, Q2 2022 Earnings Call, Aug 04, 2022. Allstate Corp executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Jess Merten will assume the Chief. Our finance team is accountable for contributing to Allstates success by living into our goals, but we also have unique opportunities to further drive DE&I success. We owe it to our customers to offer them industry-leading products at affordable prices. And the thing that stands out most to me is that the execution felt just like any other deal that Ive been part of, and it was a resounding success.
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