Allstate reshuffles leadership, names Mario Rizzo as COO

(Reuters) -Allstate on Wednesday named Mario Rizzo as chief operating officer, responsible for the property-liability and protection services businesses.

Rizzo, who was previously president of property-liability, will be succeeded in that role by Chief Financial Officer Jess Merten, the insurer said.

Merten will report to Rizzo.

John Dugenske, president of investments and corporate strategy, will serve as interim CFO while the company conducts an external search for the role.

"These leadership changes are the next logical step to complete our transformative growth initiative and enable us to leverage artificial intelligence," CEO Tom Wilson said.

In July, Allstate reported a jump in second-quarter profit, driven by strong underwriting performance and increased investment returns.

(Reporting by Prakhar Srivastava in Bengaluru; Editing by Alan Barona)

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