Former AIG exec to head Allstate life insurance unit

Filed under: Management, Allstate Corp (ALL), Amer Intl Group (AIG)

Allstate Corp. (NYSE: ALL) has selected former American International Group (NYSE: AIG) executive Matthew Winter to head its struggling life insurance and retirement unit, Allstate Financial.

Allstate Financial returned to profitability in the three months ended June 30 after losing money each quarter since September 2007. The unit has been run by an interim president since January. The ongoing delays had prompted some Wall Street analysts to call on Allstate to sell its small life unit, which was largely responsible for investment losses that led Allstate to post a big loss last year.

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Former AIG exec to head Allstate life insurance unit originally appeared on BloggingStocks on Tue, 06 Oct 2009 17:45:00 EST. Please see our terms for use of feeds.

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