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The highest executives' remunerations in the insurance sector

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Magazine Issue: 
Climate change and insurance [3]
Magazine date: 
Oct 2021
Under insurance label, we find companies of different forms and targeting different markets: public limited companies, mutuals with intermediaries, mutuals without intermediaries, tontines, direct insurance companies, reinsurance, brokerage,...

dirigeantMost of the market players do not provide extraordinary remuneration to their managers. The mutual sector as a whole, a significant part of the market, is safe from this problematic.

Some limited insurance and reinsurance companies and the large-scale brokerage firms are particularly concerned by the high remuneration of managers. Besides, these are international companies that are among the top leaders in terms of business line.

Read also | Executives' remuneration according to the class of business [4]

Insurance: highest remuneration of CEO or GM, year 2020

In USD
GroupPositionFixed salaryVariable (1)Remuneration 2020Remuneration 2019
Aon
President - General Manager1 547 58219 308 14920 855 73115 954 623
Marsh & Mclennam
President - General Manager1 547 58218 773 18420 320 76620 264 521
Willis Towers Watson
Executive Manager-CEO1 238 06613 113 59414 351 66013 099 800
Aon
Executive Vice President1 031 72111 600 61912 632 3407 713 686
Zurich Insurance
General Manager2 422 08910 115 78512 537 8749 789 816
Allianz
President2 119 9425 706 4037 826 3458 406 789
Prudential
Group General Manager1 655 3116 034 4547 689 7658 352 017
Swiss Re
General Manager1 676 5485 103 4116 779 9596 244 429
Generali
General Manager1 762 9635 004 6276 767 5906 891 698
Scor
President - General Manager1 473 8884 775 5856 249 4737 636 332
Munich Re/Ergo
Member of the Board of Directors of Munich Re and CEO of Ergo3 377 6602 355 8995 733 5595 181 586
Prudential
Directeur financier1 396 2634 275 7005 671 9634 300 934
Munich Re
President2 855 6582 016 2444 871 9024 375 492
Aviva
Executive Manager1 139 8073 542 1574 681 964582 988
Axa
General Manager1 780 9482 797 9414 578 8895 157 238
Allianz
Member of the Board of Directors1 288 4243 107 4474 395 8714 770 604
Swiss Life
General Manager1 676 5482 660 6184 337 1664 479 459
Swiss Re
President2 557 2941 698 9024 256 1964 008 561
Aviva
General Manager880 5012 930 7283 811 2292 728 483
Hannover Re
President1 080 8511 600 2742 681 1253 263 944
Hiscox
General Manager925 5591 650 9722 576 531867 888
Coface
General Manager849 5331 512 1462 361 6792 154 371
Zurich Insurance
President1 047 8421 117 6982 165 5401 579 003
Covéa
President - General Manager1 959 81295 2132 055 0251 880 865
Prudential
President1 397 688454 4981 852 1861 156 031
Lloyd's
Executive Manager-CEO882 518881 1601 763 6781 948 431
Ping An Insurance Group
Executive Manager-CEO, Executive Vice President874 523119 1271 652 0631 304 643
Lloyd's
Chief Financial Officer (CFO)610 974898 8111 509 785979 136
Ping An Insurance Group
Chief Financial Officer790 25793 2831 399 114916 699
Swiss Life
Chairman of the Board of Directors938 867402 9201 341 7871 263 719
Generali
President1 179 11111 7811 190 8921 206 007
Axa
President1 105 416-1 105 4161 343 832
Hannover Re
Member of the Board of Directors540 426544 3561 084 782904 847
Hannover Re
Member of the Board of Directors502 105474 715976 819935 643
Maif
General Manager571 029220 712791 741649 965
Coface
President581 103198 514779 6172 184 450
CNP Assurances
General Manager491 29649 130540 426503 937
Maif
President474 08650 053524 139440 992
La Banque Postale
Chairman of the Board of Directors433 1754 113437 288508 210
Macif
General Manager412 68719 979432 666370 292
Macif
Deputy General Manager383 21317 328400 541389 559
Groupama
President of the national federation318 36043 297361 657329 734
Macif
President319 3423 891323 233207 362
CNP Assurances
President185 660-185 660313 561

(1) Including various benefits in kind, attendance fees, performance shares and stock options.

Source : La tribune de l’assurance, N°271, September 2021 and Atlas Magazine

Thu, 07/10/2021 - 15:47

Source URL: https://www.atlas-mag.net/en/article/the-highest-executives-remunerations-in-the-insurance-sector

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-184-october-2021
[4] https://www.atlas-mag.net/en/article/executives-remuneration-according-to-the-class-of-business