Mario Rizzo became Chief Financial Officer in 2018 and has been successful in many different roles since joining Allstate 33 years ago. Mario Rizzo, currently the Chief Financial Officer, has been a full partner in these successes and will succeed Glenn as President, Property-Liability. Location data not available. However for a complete and definitive understanding of the pay practices of any company, users should refer directly to the actual, complete proxy statement. The proxy must be sent to every shareholder in advance of the company's annual shareholders meeting. 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. 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. 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. 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. Chart Data in Insider Trading History Table. During the last year, insiders at the insurance provider sold shares 3 times. Tom Wilson is the Chair, President and Chief Executive Officer of The Allstate Corporation. Total Equity aggregates grant date fair value of stock and option awards and long term incentives granted during the fiscal year. The Allstate Protection sells private passenger auto and homeowners' insurance through agencies and directly through call centers and the internet. 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). What motivated your decision making around this and why was it an important move when it came to Allstates DE&I contributions? You have entered an invalid ZIP. Mario Rizzo is Chief Financial Officer, Executive Vice President of the company. But the good news is, if China invades Taiwan, there is a way to protect yourself. All Rights Reserved. Please try again. Learn More on Mario Rizzo's trading history. All proxy statements are public filings made available to the general public by the SEC. Numbers reported do not include change in pension value and non-qualified deferred compensation earnings. 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 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 Allstate. 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. As Executive Vice President and Chief Financial Officer at ALLSTATE CORP, Mario Rizzo made $4,519,516 in total compensation. What is your take on integrating sustainability into financial planning? There are 5 executives at Allstate Corp getting paid more, with ThomasWilson having the highest compensation of $19,615,700. 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 is Executive Vice President and Chief Financial Officer of The Allstate Corporation and Allstate Insurance Company, as well as a member of Allstates Operating Committee. 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. The estimated net worth of Mario Rizzo is at least $6.34 million as of May 10th, 2021. 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. Last updated: 1 March 2023 at 11:00am EST. document.write(new Date().getFullYear()); Allstate Insurance Company. The Allstate Corporation Jim Reynolds, chairman and CEO of Chicago-based Loop Capital, which . 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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. But that doesnt mean insurance companies cant be innovative, dynamic changemakers within their industry and in broader society. Most recently, Mario Rizzo sold 25,648 shares of the business's stock in a transaction on Friday, February 4th. Mario Rizzo has not been actively trading shares of Allstate during the past quarter. 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 . Insurance Tip Tuesday Looks like 2023 will see more increases for AllState Auto Insurance policy holders . Rizzo: At Allstate, we focus on protecting our customers from lifes uncertainties and helping them recover when the worst does happen. 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. Mario Rizzo is the Exec. We have a powerful team that guides us to be bold, innovative and collaborative. 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. Oops! 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. 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 Weve developed a strategic plan for DE&I, and were accountable at a board level to execute on that. 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. 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. You may also find the annual proxy statement by going directly to the company's website. While we may all have different views on climate change, the increase in catastrophic activity and wildfires is indisputable. Lisa Wicka. Total Cash Compensation information is comprised of yearly Base Pay and Bonuses. Mario Rizzo received an undergraduate degree from the University of Michigan and an MBA from The University of Chicago. document.write(new Date().getFullYear()); Allstate Insurance Company. 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. 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? Location data not available. Jeff Thomson: Insurance is an increasingly commoditized market, with consumers often choosing carriers based on price alone. ( bit.ly/2qpn7uh ) NORTHBROOK, Ill., Feb. 22, 2021 - The Allstate Corporation (NYSE: ALL) board of directors has approved a quarterly dividend of $0.81 cents on each outstanding share of the corporation's common stock, payable in cash on April 1, 2021, to stockholders of record at the close of business on March 4, 2021. Products are available through a broad distribution network including Allstate agents, independent agents, major retailers, online and at the workplace. Allstate's CFO says staying ahead of the curve is. 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. Now, even Taiwan's own foreign minister is saying that China is on the cusp of a full scale invasion. 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 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. Last updated: 21 February 2023 at 5:57pm EST. For other finance leaders out there, I just want to say: think big. Most recently he exercised 25,648 units of ALL stock worth $1,811,262 on 4 February 2022. VP & CFO at Allstate Corp. What is the salary of Mr Rizzo? View Mario Rizzo's colleagues in Allstate Employee Directory. Shapiro joined Allstate as chief claims officer in 2016 . 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). Mario has made over 4 trades of the Allstate Corp stock since 2018, according to the Form 4 filled with the SEC. 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. Rizzo has been the senior vice president and chief financial officer of Allstate's personal lines business since June 2014. What is Mario Rizzo's salary? 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. While price is critically important, keeping our customers protected in all areas of their lives is how we keep them in good hands. It's taking a bit longer than expected. Jess Merten, president of Allstate's financial products business, will take over as CFO, also on September 1. Other Compensation covers all compensation-like awards that don't fit in any of these other standard categories. Allstate Insurance Company. Mario Rizzo is the Exec. 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. There are 9 executives at Allstate Corp getting paid more, with Thomas Wilson having the highest compensation of $19,615,700. Coronavirus Tips Working and Protection. Chicago CFO of the Year is a registered trademark of FEI Chicago. senior financial executives in the United States and Canada. the fourth largest private passenger auto insurer in the U.S. click here for information on our satisfaction guaranteed subscription options, Collision Repair Industry Production Sets New Record in December, AAA Reports Fear of Self-Driving Cars on the Rise, RDA Executive Director Robert McKenzie Passes Away, CCC Reports Revenue of $782 Million in 2022, Pennsylvania Insurance Department Fines First Acceptance Insurance Company for Misleading Consumers, Chief Automotive Donates $75,000 Worth of Tools and Subscriptions to Collision Repair Schools Through CREF, Take the Collision Repair Business Conditions Survey. It operates through following business segments: Allstate Protection, Protection Services, Allstate Health and Benefits, Run-off Property Liability and Corporate and Other. As of Sept. 30, Allstate has an investment portfolio of $91.2 billion, a huge amount diverse firms can potentially benefit from. 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. ALLSTATE CORP annual reports of executive compensation and pay are most commonly found in the Def 14a documents. In this role, he helps lead the company's Transformative Growth strategy to grow property-liability market share. Mario Rizzo: Its true that price is a significant differentiator and a key to driving customer satisfaction. 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 $25,790 came from other types of compensation. Mario Rizzo - FEI Chicago Chapter Financial Executives International (FEI) is the premier association for CFO's and other senior financial executives in the United States and Canada. Phone Email. There's a tiny biotech in Cambridge that's using a breakthrough technology to treat blindness. Get notified the next time Mario Rizzo buys or sells Allstate stock. It had never been done before, so we didnt know if it could be done. Learn More about Mario Rizzo's net worth. The Run-off Property Liability relates to property and casualty insurance policies with exposure to asbestos, environmental and other claims. Most recently he exercised 25,648 units of ALL stock worth 1,811,262$ on 4 February 2022. . This chart shows Mario Rizzo's buying and selling at Allstate by year and by quarter.
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