Anurag Chandra Named Chief Operating Officer, Allstate Financial

NORTHBROOK, Ill., Jan. 25, 2011 /PRNewswire/ -- The Allstate Corporation (NYSE: ALL) today announced that Anurag Chandra, 33, will join Allstate Financial as chief operating officer, effective Jan. 31. Chandra will report to Matthew Winter, president and chief executive officer, Allstate Financial.

"Anurag's significant operational experience and broad insurance industry knowledge will help drive Allstate Financial's long-term strategy and enhance our ability to deliver growth," said Winter. "He will be responsible for product development, asset liability management, underwriting and wholesaling in our life and annuity lines of business. Anurag's expertise in repositioning a business to align its core capabilities with marketplace demand is particularly relevant to what we're doing at Allstate Financial, as we refocus on our core business of insurance, retirement and investment products."

Before joining Allstate, Chandra was executive vice president and chief operating officer for HealthMarkets, Inc., North Richland Hills, Texas, which has grown from a niche individual health insurance manufacturer into a large independent distributor of insurance and retirement products for the self-insured and small business markets. As part of the company's repositioning, Chandra helped lead the 2009 launch of Insphere Insurance Solutions, an insurance agency subsidiary which distributes small business and middle-income market insurance products in 50 states and the District of Columbia. Before joining HealthMarkets in 2008, Chandra held senior operating and strategic development roles at Aquiline Capital Partners, Nationwide Financial Services and the Bankers Life and Casualty subsidiary of Conseco. He began his career as a consultant with McKinsey and Company's financial institution practice. Chandra received a master's degree in operations research from the Massachusetts Institute of Technology's Sloan School of Management, and a bachelor's degree in computer science from the Indian Institute of Technology, New Delhi, India.

The Allstate Corporation (NYSE: ALL) is the nation's largest publicly held personal lines insurer. Widely known through the "You're In Good Hands With Allstate®" slogan, Allstate is reinventing protection and retirement to help more than 17 million households insure what they have today and better prepare for tomorrow. Consumers access Allstate insurance products (auto, home, life and retirement) and services through Allstate agencies, independent agencies, and Allstate exclusive financial representatives in the U.S. and Canada, as well as via www.allstate.com and 1-800 Allstate®.

SOURCE The Allstate Corporation

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