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NU Online News Service, Nov. 16, 3:13 p.m. EST
Allstate Corporation announced that Joseph P. Lacher Jr., 40, has been named president of Allstate Protection, responsible for all of the insurer’s property and casualty offerings.
Mr. Lacher succeeds George Ruebenson, who the Northbrook, Ill.-based company said is retiring after nearly 40 years at Allstate. The firm said Mr. Lacher will serve as a member of the senior management team and report to Thomas J. Wilson, Allstate’s chairman, president and chief executive officer.
He will join Allstate effective Nov. 30.
Mr. Wilson called the new president “a recognized leader with an outstanding track record of success. We look forward to having him on our team as we reinvent to build a foundation for sustainable growth.”
From 2002 to 2009 Mr. Lacher served as the chief executive officer of Personal Insurance and executive vice president at Travelers.
Allstate said in 2006 Mr. Lacher also assumed responsibility for small commercial insurance as the executive vice president of Personal Insurance and Select Accounts- businesses representing approximately 45 percent of Travelers’ premiums.
During his tenure at Travelers, which began in 1991, Mr. Lacher held a variety of leadership positions, including senior vice president of Pricing, Product and Underwriting for Personal Lines, senior vice president of Strategic Distribution for Personal Lines, and chief financial officer of Select Accounts.
“Having competed against Allstate for my entire career, I know just how phenomenal the Allstate brand, distribution network and organization really are,” said Mr. Lacher. “It is a first-class organization with a first-class leadership team and a commitment to be even better. I am excited about this opportunity.”
Mr. Ruebenson will remain at Allstate through Dec. 31 and will work closely with Mr. Lacher to ensure a smooth and effective transition, the company said.
Allstate Corp. is the nation’s largest publicly held personal lines insurer.