Most CEOs get a basic salary. As you know, bonuses and stock options are also usually tacked on to the annual income. For insurance CEOs, the basics, bonuses and stock options almost always mean six to seven-figure incomes.
S&P Global Market Intelligence took a look at CEO salaries for insurers in 2022 and came up with a top-10. One of the 10 — AIG’s, Peter Zaffino — made more than double the income of McKeel Hagerty who came in at number-two.
One thing the S&P economists noted about this year’s top-10 list is that many of those on the list earned less than they made in 2021. When you’re making many, many millions of dollars a year, is a small percentage drop in income all that big a concern?
It wouldn’t be for most of us.
BTW, the employment website Zippia says the salary percentage of total incomes usually is about 20%. It also notes what most of us already know, the amount of money earned each year has a whole lot to do with how well the company performed.
Here is the top-10:
1. Peter Zaffino, AIG
Estimated total compensation 2022 — $75.3 million
2. McKeel Hagerty, Hagerty
Estimated total compensation 2022 — $34.3 million
3. Evan Greenberg, Chubb
Estimated total compensation 2022 — $25.2 million
4. Alan Schnitzer, Travelers
Estimated total compensation 2022 — $21.1 million
5. William R. Jr., W.R. Berkeley
Estimated total compensation 2022 — $16.7 million
6. Christopher Swift, The Hartford
Estimated total compensation 2022 — $16.1 million
7. Dino Rubosto, CNA
Estimated total compensation 2022 — $15.1 million
8. Thomas Wilson, Allstate
Estimated total compensation 2022 — $15 million
9. Dominic Fredrico, Assured Guaranty
Estimated total compensation 2022 — $13.6 million
10. Tricia Griffith
Estimated total compensation 2022 — $12.75 million
By the way, what company’s CEO made the most money in 2022? Asset manager, Blackstone’s Stephen Schwarzman took home around $253 million.
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