Allstate President of Property-Liability to Retire

Glenn Shapiro to Step Down at End of September

Allstate announced today that Glenn Shapiro, President of Property-Liability, has decided to retire effective September 30th. Shapiro has led the Property-Liability businesses since 2018 and has successfully led the initiation of several key initiatives.

CFO Mario Rizzo to Take Over as President

Mario Rizzo, currently CFO, will take over as President of Property-Liability effective October 1st. Rizzo has been with Allstate for over 20 years and has held various leadership positions within the company.

Allstate surprised analysts earlier this month with the announcement of Shapiro's retirement. Shapiro's departure comes as Allstate faces increasing competition in the insurance industry.

We wish Glenn all the best in his retirement and thank him for his many years of service to Allstate. We are confident that Mario will continue to lead the Property-Liability businesses to success.