Allstate Corp. has made two noteworthy changes to its board of directors.
The company, which is the largest publicly-held U.S. home and auto insurer, named 71-year-old F. Duane Ackerman as its lead director. Separately, Michael Eskew has been elected to Allstate’s board.
Eskew, 65, is an ex-CEO of the United Parcel Service and serves on boards including the UPS, 3M, IBM and Eli Lilly.
Allstate’s board moves come a few weeks after it announced $440 million of estimated pre-tax catastrophe losses for May 2014 ($286 million after taxes). Three severe weather events were behind more than 78 percent of estimated catastrophe losses for May events, Allstate said.
Source: Allstate