Allstate Names New Leader for Product Distribution

Allstate Insurance Company today announced the promotion of Steve Sorenson, 42, to senior vice president for Allstate Protection Distribution, which is the department that oversees the companys 14,800 agency owners and exclusive financial specialists in the United States and Canada. Those agency owners have additional support staff of approximately 25,000 licensed producers who also sell Allstate branded products. In this role, Sorenson will have responsibility for leading and continuing to grow the companys network of agency owners who are also known as exclusive independent contractors.

Sorenson takes over from Ron McNeil, who has decided to retire from Allstate after 31 years with the company. McNeil has been a distinguished leader at Allstate throughout his career with accomplishments that have had far-reaching impact across the organization. Sorenson begins his new assignment effective today.

Steve is the right person to lead Protection Distribution into the future and has been a fantastic part of our management team since the day he walked in the door. He has excelled in each position he has held with Allstate and I am confident Steve is going to continue to perform well on behalf of our agency owners, employees, customers and shareholders, said George Ruebenson, president of Allstate Protection.

Sorenson joined Allstate in 2000 as a product vice president with product management responsibilities for three of the companys fourteen regional operations. Then, in 2002 he was given responsibility for co-leading the entire field operations. Prior to joining Allstate, Sorenson was a general manager at Progressive Insurance Company with responsibility for several Midwestern states. Prior to that, he was an engagement manager at McKinsey & Company working in their Chicago, Houston and London offices. Sorenson earned an A.B. in economics from Harvard College and an MBA in marketing and finance from the University of Chicago.

I am excited about the opportunity to lead one of the most effective distribution organizations in our industry. More than ever, we are focused on helping Allstate grow profitably, gain market share and improve the customer experience while helping our agency owners to grow their own businesses and prosper, said Sorenson.

With this promotion, Sorenson becomes a member of Allstates senior management team and will report to Ruebenson.

The Allstate Corporation (NYSE: ALL) is the nations largest publicly held personal lines insurer. Widely known through the Youre In Good Hands With Allstate® slogan, Allstate helps individuals in approximately 17 million households protect what they have today and better prepare for tomorrow through approximately 14,800 exclusive agencies and financial professionals in the U.S. and Canada. Customers can access Allstate products and services such as auto insurance and homeowners insurance through Allstate agencies, or in select states at and 1-800 Allstate®. Encompass® and Deerbrook® Insurance brand property and casualty products are sold exclusively through independent agents. The Allstate Financial Group provides life insurance, supplemental accident and health insurance, annuity, banking and retirement products designed for individual, institutional and worksite customers that are distributed through Allstate agencies, independent agencies, financial institutions and broker-dealers.

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