The most active insiders traders include Thomas J Wilson, Edward M Liddy, and John W Rowe. Risk avoidance is the name of the game in insurance. Mr. Rizzo owns over 25,648 units of Allstate Corp stock worth over $7,617,859 and over the last 4 years he sold ALL stock worth over $0. In addition, he makes $4,426,140 as Chief Financial Officer et Executive Vice President at Allstate Corp. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. There are 9 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. ALLSTATE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. Allstate is widely known for the slogan 'You're in Good Hands with Allstate.'. He is also a certified public accountant. Jess Merten will assume the Chief. 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. Its a broad set of actions, covering everything from pay practices and representation goals, to supplier diversity and adding a new racial equity pillar to the corporate foundation. Mario Rizzo Glenn T. Shapiro BASE PAY $836,539 BONUS + INCENTIVE COMP $1,906,680 TOTAL CASH COMPENSATION $2,743,219 STOCK AWARD VALUE $1,621,454 OPTION AWARD VALUE $1,101,729 TOTAL EQUITY $2,723,183 TOTAL OTHER $34,593 TOTAL COMPENSATION $5,500,995 Q These products are marketed under the Allstate, Encompass and Esurance brand names. As the CFO of The Allstate Co., Mr. Rizzo earned a total compensation package of $4,519,516.00 in 2021. The Allstate Protection sells private passenger auto and homeowners' insurance through agencies and directly through call centers and the internet. 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. Location data not available. Rizzo has a bachelor's degree in economics from the University of Michigan and a Master of Business Administration in finance and accounting from the University of Chicago. This was something I learned when I recently spoke with Mario Rizzo, CFO of Allstate. Its the most important work we do and its who we are as a company. During the last year, insiders at the insurance provider sold shares 3 times. Log in, Subscribers need to be logged in to see rest of this article. Please enter zip code. 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). 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 . Last updated: 21 February 2023 at 5:57pm EST. Please enter zip code. Since the start of 2022, Rizzo said Allstate has implemented 64 rate increases with an average of about 9% across 51 locations. You have entered an invalid ZIP. Please try again. The information shown here is a reporting of information included in the company's proxy statement. Allstate can also be reached via phone at (847) 402-5000 and via email at [emailprotected] Learn More on Mario Rizzo's contact information. Oops! ALLSTATE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Learn More on Allstate's active insiders. 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. 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. 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 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.). Allstate has 54,300 employees. Learn More on Mario Rizzo's trading history. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. We began by discussing how Allstate has differentiated itself in a highly commoditized market where cost savings trumps all, and how the finance team historically a risk-averse business area has helped the company stay ahead of the curve. Insurance Tip Tuesday Looks like 2023 will see more increases for AllState Auto Insurance policy holders . Jeff Thomson: Insurance is an increasingly commoditized market, with consumers often choosing carriers based on price alone. They sold a total of 176,962 shares worth more than $23,587,115.41. Oops! Mario Rizzo Executive Vice President and Chief Financial Officer, The Allstate Corporation Northbrook, IL The Allstate Corporation, +1 more Mario Rizzo Back-end developer Greater Naples. Mario Rizzo: Its true that price is a significant differentiator and a key to driving customer satisfaction. Your update should be done soon. 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. As the CFO of The Allstate Co., Mr. Rizzo earned a total compensation package of $4,519,516.00 in 2021. Tom Wilson is the Chair, President and Chief Executive Officer of The Allstate Corporation. He joined the company in 1989. 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. Insurance is often thought of as a conservative industry, with firms existing to provide customers a hedge against risk. There are 9 executives at Allstate Corp getting paid more, with ThomasWilson having the highest compensation of $19,615,700. While price is critically important, keeping our customers protected in all areas of their lives is how we keep them in good hands. senior financial executives in the United States and Canada. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. He has held key leadership positions at the company since 1995, including all major operating units. Thorough reviews have been conducted to assure this data accurately reflects disclosures. Last updated: 1 March 2023 at 11:00am EST. Mario Rizzo is president, Property-Liability, responsible for product, claims, operations, service and distribution related to Allstate's personal and commercial lines of insurance. 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. 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. This net worth evaluation does not reflect any other investments that Mr. Rizzo may own. It's taking a bit longer than expected. As the Exec. Learn More on Mario Rizzo's contact information. Chicago CFO of the Year is a registered trademark of FEI Chicago. Executive Vice President and Chief Financial Officer. 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. VP & CFO of Allstate Corp, the total compensation of Mr Rizzo at Allstate Corp is $2,028,151. Mario has made over 4 trades of the Allstate Corp stock since 2018, according to the Form 4 filled with the SEC. You have entered an invalid ZIP. Insiders at Allstate own 1.8% of the company. Rizzo has been the senior vice president and chief financial officer of Allstate's personal lines business since June 2014. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. But we went on to discuss Allstates proactive approach to certain climate change risks, as well as the firms recent efforts around diversity, equity and inclusion (DE&I). All Rights Reserved. Lisa Wicka. 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 is promoted to Executive Vice President and Chief Financial Officer, reporting to Shebik. VP & CFO of Allstate Corp, the total compensation of Mr Rizzo at Allstate Corp is $2,028,151. You may also find the annual proxy statement by going directly to the company's website. 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. Mario Rizzo was named president, Property-Liability, at Allstate effective September 1. 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 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 $3,501,510 Mario Rizzo Net Worth The estimated Net Worth of Mario Rizzo is at least Allstate Corp stock worth over 8,231,629$ and over the last 4 . The corporate mailing address for Mr. Rizzo and other Allstate executives is 2775 SANDERS ROAD, NORTHBROOK IL, 60062. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Allstate's CFO says staying ahead of the curve is. 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. 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. 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. 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). The most recent insider tranaction occured on February, 22nd when CFO Jesse E Merten sold 29,451 shares worth more than $3,951,735.18. 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. Thomson: Like climate change consumers are asking companies to take a more active role in Diversity, Equity and Inclusion (DE&I) initiatives. The Allstate Corporation Mario Rizzo is Chief Financial Officer, Executive Vice President of the company. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. While we may all have different views on climate change, the increase in catastrophic activity and wildfires is indisputable. 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 Financial Executives International (FEI) is the premier association for CFOs and other. He will become President, Property-Liability, on Sept. 1. As of 4 February 2022 he still owns at least 62,375 units of Allstate Corp stock. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. As Executive Vice President and Chief Financial Officer at ALLSTATE CORP, Mario Rizzo made $4,519,516 in total compensation. Do it. We take a comprehensive approach to managing our property business, with the dual goals of protecting our customers and earning an adequate return on the risks we take. 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. What is the salary of Mario Rizzo? In addition, he makes $4,426,140 as Chief Financial Officer and Executive Vice President at Allstate Corp. Mario has made over 4 trades of the Allstate Corp stock since 2018, according to the Form 4 filled with the SEC. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. But that doesnt mean insurance companies cant be innovative, dynamic changemakers within their industry and in broader society. 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. (312) 263-1661 |info@feichicago.org|www.feichicago.org. 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. There are 5 executives at The Allstate getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. Mario's mailing address filed with the SEC is C/O THE ALLSTATE CORPORATION, 3100 SANDERS ROAD, NORTHBROOK, IL, 60062. 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. We owe it to our customers to offer them industry-leading products at affordable prices. There are 5 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. 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. How do I contact Mario Rizzo? "Allstate brand implemented auto rate increases totaled $240. President, Property-Liability Please. 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. 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. Learn More on Mario Rizzo's salary. In the face of George Floyds murder and the civil unrest that followed, we realized we needed to do more. As Executive Vice President and Chief Financial Officer at ALLSTATE CORP, Mario Rizzo made $4,519,516 in total compensation. 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. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. . Coronavirus Tips Working and Protection. 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. 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. 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 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. Jess Merten, president of Allstate's financial products business, will take over as CFO, also on September 1. 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. Location data not available. VP & CFO of Allstate Corp since . Learn More about Mario Rizzo's net worth. 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 Rizzo received an undergraduate degree from the University of Michigan and an MBA from The University of Chicago. There are 24 older and 6 younger executives at Allstate Corp. It had never been done before, so we didnt know if it could be done. Thorough reviews have been conducted to assure this data accurately reflects disclosures. On average, Mario trades about 3,291 units every 90 days since 2018. Mario Rizzo is president, Property-Liability, responsible for product, claims, operations, service and distribution related to Allstate's personal and commercial lines of insurance. Enter your email address below to get our daily insider buying and selling report. But our solution set is much broader than just reinsurance. Shapiro joined Allstate as chief claims officer in 2016 . All proxy statements are public filings made available to the general public by the SEC. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. Chart Data in Insider Trading History Table. "Mario Rizzo, president of Allstate The Run-off Property Liability relates to property and casualty insurance policies with exposure to asbestos, environmental and other claims. Jess Merten will assume the Chief Financial Officer role, leveraging his broad Rizzo previously served for nearly eight years as Allstates Treasurer and Assistant Treasurer, and as Vice President in APL Finance before that. The insurer also promoted Shebik as vice chairman. 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. But the good news is, if China invades Taiwan, there is a way to protect yourself. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. Rizzo has a bachelors degree in economics from the University of Michigan and an MBA in finance and accounting from the University of Chicago. This represents a 50% increase from the . Weve developed a strategic plan for DE&I, and were accountable at a board level to execute on that. 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. As of Sept. 30, Allstate has an investment portfolio of $91.2 billion, a huge amount diverse firms can potentially benefit from. 2023 Financial Executives International (FEI) Chicago. Most recently he exercised 25,648 units of ALL stock worth $1,811,262 on 4 February 2022. Rizzo has served as Chief Financial Officer of Allstate Personal Lines as well as corporate Treasurer. Allstate CFO Mario Rizzo. On average, Allstate Corp executives and independent directors trade stock every 14 days with the average trade being worth of $4,054,033. Most recently he exercised 25,648 units of ALL stock worth 1,811,262$ on 4 February 2022. . ( bit.ly/2qpn7uh ) Mario Rizzo is 53, he's been the Chief Financial Officer and Executive Vice President of Allstate Corp since 2018. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year.
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