Allstate, the holding company for Allstate Insurance, has appointed Joseph Lacher, Jr, as the new president of Allstate Protection.
In his new role, Mr Lacher will lead all of Allstate's property and casualty offerings serving over 17 million American households. He will serve as a member of the senior management team and report to Thomas Wilson, Allstate's chairman, president and CEO.
From 2002 to 2009 Mr Lacher served as the CEO of personal insurance and executive vice president at Travelers. In 2006, he also assumed responsibility for small commercial insurance as the executive vice president of personal insurance and select accounts.
During his tenure at Travelers, which began in 1991, he 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 CFO of select accounts.
Mr Lacher succeeds George Ruebenson who is retiring after nearly 40 years of service to Allstate. Ruebenson remains at Allstate through December 31, 2009 and will work closely with Mr Lacher in order to ensure a smooth and effective transition.
Mr Wilson said: "In today's very competitive environment, success comes down to leadership and high performance. Our goal is to have the strongest possible leadership team with the optimal mix of talent, expertise and experience. In Joe we are adding 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."