Risk avoidance is the name of the game in insurance. This was something I learned when I recently spoke with Mario Rizzo, CFO of Allstate. 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. VP & CFO of Allstate Corp since . Opinions expressed by Forbes Contributors are their own. Learn More on Mario Rizzo's trading history. Together we're building the future of protection. Jess Merten will assume the Chief Financial Officer role, leveraging his broad Allstate. He has been CEO of Allstate since 2007 and became Chair of The Allstate Corporation's Board of Directors in 2008. 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. These products are marketed under the Allstate, Encompass and Esurance brand names. Last updated: 21 February 2023 at 5:57pm EST. The most active insiders traders include Thomas J Wilson, Edward M Liddy, and John W Rowe. Learn More about insider trades at Allstate. Were also a founding member of OneTen, a corporate commitment to hire and promote a million Black Americans over the next 10 years. 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. 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. . Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. 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. All Rights Reserved. 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. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. He joined the company in 1989. For its 2021 fiscal year, ALLSTATE CORP, listed the following board members on its annual proxy statement to the SEC. Salaries posted anonymously by Allstate employees. Mario has made over 4 trades of the Allstate Corp stock since 2018, according to the Form 4 filled with the SEC. 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. Its a complicated issue that requires a comprehensive approach for success. 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. There are 9 executives at Allstate Corp getting paid more, with ThomasWilson 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. ALLSTATE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. 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. 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. 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. Allstate is widely known for the slogan 'You're in Good Hands with Allstate.'. The estimated Net Worth of Mario Rizzo is at least $12.4 Million dollars as of 4 February 2022. Mario Rizzo Net Worth The estimated Net Worth of Mario Rizzo is at least Allstate Corp stock worth over 8,231,629$ and over the last 4 . document.write(new Date().getFullYear()); Allstate Insurance Company. There are 5 executives at The Allstate getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. The Cor. Mario Rizzo, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn as President, Property-Liability. Log in, Subscribers need to be logged in to see rest of this article. Learn More on Allstate's active insiders. Allstate has 54,300 employees. What is Mario Rizzo's salary? There are 5 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. You may also find the annual proxy statement by going directly to the company's website. 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.). 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). President, Property-Liability Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. On average, Allstate Corp executives and independent directors trade stock every 14 days with the average trade being worth of $4,054,033. 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. Executive Vice President and Chief Financial Officer. The Allstate Corporation Shapiro joined Allstate as chief claims officer in 2016 . 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. All proxy statements are public filings made available to the general public by the SEC. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. As the Exec. 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, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn as President, Property-Liability. Thorough reviews have been conducted to assure this data accurately reflects disclosures. BREAKING: Tiny biotech successfully treats blindness. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. They sold a total of 176,962 shares worth more than $23,587,115.41. Every carefully selected member of our Board of Directors helps us uphold our commitments to our stakeholders. ALLSTATE CORP income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Mario Rizzo was named president, Property-Liability, at Allstate effective September 1. This article has been edited and condensed. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. Jeff Thomson: Insurance is an increasingly commoditized market, with consumers often choosing carriers based on price alone. The Run-off Property Liability relates to property and casualty insurance policies with exposure to asbestos, environmental and other claims. 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. . Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. Most recently he exercised 25,648 units of ALL stock worth $1,811,262 on 4 February 2022. But the good news is, if China invades Taiwan, there is a way to protect yourself. You have entered an invalid ZIP. Also, proxies must disclose specific detailed information regarding the pay practices for certain executives. All Rights Reserved. Rizzo: Inclusive diversity is one of Allstates core values, and its something weve long been committed to. 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 Oops! While price is critically important, keeping our customers protected in all areas of their lives is how we keep them in good hands. Your update should be done soon. Allstate's insider roster includes John Dugenske (Insider), Suren Gupta (EVP), Harriet Harty (EVP), Susan Lees (EVP), Jesse Merten (Insider), Samuel Pilch (VP), John Pintozzi (CAO), Mark Prindiville (EVP), Mario Rizzo (CFO), Steven Shebik (Vice Chairman), Judith Sprieser (Director), Thomas Wilson (CEO), and Matthew Winter (President). 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 of 4 February 2022 he still owns at least 62,375 units of Allstate Corp stock. 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. 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? Recent Reinsurance News Intact Financial Corporation has announced that the RSA UK Pension The insurer also promoted Shebik as vice chairman. 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. 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. As the CFO of The Allstate Co., Mr. Rizzo earned a total compensation package of $4,519,516.00 in 2021. There are 5 executives at Allstate Corp getting paid more, with ThomasWilson having the highest compensation of $19,615,700. For its 2021 fiscal year, ALLSTATE CORP, listed the following CEO pay ratio data on its annual proxy statement to the SEC. Please try again. 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. In addition, he makes $4,426,140 as Chief Financial Officer et Executive Vice President at Allstate Corp. 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). During the last year, insiders at the insurance provider sold shares 3 times. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. 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. 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.). Get notified the next time Mario Rizzo buys or sells Allstate stock. The most active insiders traders include Thomas J Wilson, Edward M Liddy, and John W Rowe. We used a syndicate made up of only minority-, women- and veteran-owned financial firms to execute a $1.2 billion bond offering the largest corporate debt offering ever led by only diverse firms. Insurance Tip Tuesday Looks like 2023 will see more increases for AllState Auto Insurance policy holders . Your update should be done soon. How do I contact Mario Rizzo? But that doesnt mean insurance companies cant be innovative, dynamic changemakers within their industry and in broader society. 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 He is also a Certified Public Accountant. Rizzo previously served for nearly eight years as Allstates Treasurer and Assistant Treasurer, and as Vice President in APL Finance before that. If the United States goes to war with another nuclear armed superpower, this could have a devastating impact on your retirement portfolio. The oldest executive at Allstate Corp (The) is Samuel Henry Pilch, 74, who is the Sr. Group VP & Controller of Allstate Insurance Company. "Allstate brand implemented auto rate increases totaled $240. As the Chief Financial Officer and Executive Vice President of Allstate Corp, the total compensation of Mario Rizzo at Allstate Corp is $4,426,140. Its a broad set of actions, covering everything from pay practices and representation goals, to supplier diversity and adding a new racial equity pillar to the corporate foundation. Mario Rizzo has not been actively trading shares of Allstate during the past quarter. Most recently he exercised 25,648 units of ALL stock worth 1,811,262$ on 4 February 2022. . On average, Mario trades about 3,291 units every 90 days since 2018. Nathan Ellsworth. 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. The information shown here is a reporting of information included in the company's proxy statement. Allstate CFO Mario Rizzo. 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). There are 5 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. 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. Learn More about Mario Rizzo's net worth. ALLSTATE CORP annual reports of executive compensation and pay are most commonly found in the Def 14a documents. Weve developed a strategic plan for DE&I, and were accountable at a board level to execute on that. Jim Reynolds, chairman and CEO of Chicago-based Loop Capital, which . 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. Together we can continue to drive systemic change. Allstate Insurance Company. 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. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. The Allstate Corp. engages in the property and casualty insurance business and the sale of life, accident, and health insurance products through its subsidiaries. This net worth evaluation does not reflect any other investments that Mr. Rizzo may own. 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 Tom Wilson is the Chair, President and Chief Executive Officer of The Allstate Corporation. Rizzo is promoted to Executive Vice President and Chief Financial Officer, reporting to Shebik. Learn More about Mario Rizzo's net worth. Jess Merten will assume the Chief Financial Officer role, leveraging his broad financial and operating experience at Allstate over the last decade. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. The oldest executive at Allstate Corp (The) is Samuel Henry Pilch, 74, who is the Sr. Group VP & Controller of Allstate Insurance Company. The information shown here is a reporting of information included in the company's proxy statement. View Mario Rizzo's colleagues in Allstate Employee Directory. As Executive Vice President and Chief Financial Officer at ALLSTATE CORP, Mario Rizzo made $4,519,516 in total compensation. He will become President, Property-Liability, on Sept. 1. 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. Enter your email address below to get our daily insider buying and selling report. Mario Rizzo, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn as President, Property-Liability. VP & CFO of Allstate Corp, the total compensation of Mr Rizzo at Allstate Corp is $2,028,151. 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. 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 . We offer a lot beyond typical auto and home insurance. Do it. Mario Rizzo: Its true that price is a significant differentiator and a key to driving customer satisfaction. Coronavirus Tips Working and Protection. Mr. Rizzo owns 49,490 shares of Allstate stock worth more than $6,341,154 as of March 4th. Since the start of 2022, Rizzo said Allstate has implemented 64 rate increases with an average of about 9% across 51 locations. Location data not available. senior financial executives in the United States and Canada. 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. Oops! 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. 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. 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. ( bit.ly/2qpn7uh ) VP & CFO of Allstate Corp, the total compensation of Mr Rizzo at Allstate Corp is $2,028,151. 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. Last updated: 1 March 2023 at 11:00am EST. What else does Allstates finance leadership do to promote DE&I? 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. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. 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 This represents a 50% increase from the . Mario Rizzo is the Exec. The estimated net worth of Mario Rizzo is at least $6.34 million as of May 10th, 2021. Learn More on Mario Rizzo's trading history. Most recently, Mario Rizzo sold 25,648 shares of the business's stock in a transaction on Friday, February 4th. For other finance leaders out there, I just want to say: think big. There are 21 older and 8 younger executives at Allstate Corp. Jess Merten will assume the Chief. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. Mario Rizzo is president, Property-Liability, responsible for product, claims, operations, service and distribution related to Allstate's personal and commercial lines of insurance. 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. 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. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. This report is not for commercial use. There are 24 older and 6 younger executives at Allstate Corp. 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. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. Prior to becoming CFO in 2018, Rizzo served as Chief Financial Officer of Allstate Personal Lines (APL), where he was responsible for its comprehensive financial planning and analytics. Insurance is often thought of as a conservative industry, with firms existing to provide customers a hedge against risk. 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. Please. We have a powerful team that guides us to be bold, innovative and collaborative. He has held key leadership positions at the company since 1995, including all major operating units. 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). This report is not for commercial use. You have entered an invalid ZIP. 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 most recent insider tranaction occured on February, 22nd when CFO Jesse E Merten sold 29,451 shares worth more than $3,951,735.18. All proxy statements are public filings made available to the general public by the SEC. Learn More on Mario Rizzo's salary. 2023 Financial Executives International (FEI) Chicago. For those interested in conducting a detailed compensation analysis, we recommend that you review the entire proxy statement. Mario Rizzo is president, Property-Liability, responsible for product, claims, operations, service and distribution related to Allstate's personal and commercial lines of insurance. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories.