The Insurance Forum, the monthly newsletter I published for 40 years, began with the January 1974 issue and ended with the December 2013 issue. In 1975 I began publishing in the Forum data on executive compensation in the insurance industry. After ending the Forum, I began to publish less elaborate tabulations of executive compensation data through blog posts. The most recent posts are No. 381 (July 13, 2020), No. 385 (August 7, 2020), and No. 404 (December 23, 2020), in which I published data for 2019 from my three sources: the Securities and Exchange Commission (SEC), the New York State Department of Financial Services (DFS), and the Nebraska Department of Insurance (NDI).
In my 2015 book entitled The Insurance Forum: A Memoir, in Chapter 24, I described the history of my executive compensation tabulations. Here I show data for 2020 from the SEC. I plan to show data for 2020 from the DFS and the NDI later.
SEC Data
During the final seven years of the Forum, I showed data for individuals who received at least $1 million in the year covered. In the current tabulation below, I show SEC data for individuals who received at least $5 million in 2020. Each figure in the tabulation is the "Total" shown in the SEC's "summary compensation tables" for 2020. The five components of the "Total" are "Salary," "Bonus," "Stock Awards," "Non-Equity Incentive Plan Compensation," and "All Other Compensation." Where more than one individual in a company is shown, they are listed in descending order of compensation.
The summary compensation tables for 2020 for most companies are in proxy statements filed in advance of the 2021 annual meeting of shareholders. For the two Canadian companies, Manulife Financial and Sun Life Financial, the summary compensation tables for 2020 are in 6-K annual reports, and the figures shown are in Canadian dollars. If you want to see any of the summary compensation tables for 2020, go to the EDGAR Search page of the SEC web site and key in the name of the company in which you are interested.
| SEC Data for 2020 | ||
| AFLAC Inc | ||
| Daniel P Amos | $14,099,140 |
|
| Frederick J Crawford | 5,130,661 | |
| Alleghany Corp | ||
| Weston M Hicks | 7,451,772 | |
| Allstate Corp | ||
| Thomas J Wilson | 18,009,544 | |
| Don Civgin | 5,873,381 | |
| Glenn T Shapiro | 5,032,673 | |
| Ambac Financial Group Inc | ||
| Claude LeBlanc | 6,011,501 | |
| American Financial Group Inc | ||
| Carl H Lindner III | 9,631,170 | |
| S Craig Lindner | 9,596,241 | |
| American International Group Inc | ||
| Peter Zaffino | 24,066,986 | |
| Brian Duperreault | 18,810,374 | |
| Mark D Lyons | 10,236,456 | |
| Douglas A Dachille | 8,666,267 | |
| Lucy Fato | 8,592,190 | |
| Ameriprise Financial Inc | ||
| James M Cracchiolo | 20,794,703 | |
| Walter S Berman | 9,200,374 | |
| William F Truscott | 7,333,308 | |
| Colin Moore | 5,955,390 | |
| Anthem Inc | ||
| Gail K Boudreaux | 17,109,952 | |
| Gloria M McCarthy | 5,530,661 | |
| John E Gallina | 5,401,735 | |
| Peter D Haytaian | 5,387,111 | |
| Felicia F Norwood | 5,236,403 | |
| Aon plc | ||
| Gregory C Case | 20,294,496 | |
| Christa Davies | 12,243,943 | |
| Eric Andersen | 6,674,303 | |
| Arch Capital Group Ltd | ||
| Marc Grandisson | 8,779,832 | |
| Arthur J Gallagher & Co | ||
| Pat Gallagher | 11,177,460 | |
| Assurant Inc | ||
| Alan B Colberg | 11,855,966 | |
| Gene E Mergelmeyer | 5,649,562 | |
| Assured Guaranty Ltd | ||
| Dominic J Frederico | 10,876,524 | |
| AXIS Capital Holdings Ltd | ||
| Albert A Benchimol | 7,265,614 | |
| Berkshire Hathaway Inc | ||
| Gregory E Abel | 19,014,250 | |
| Ajit Jain | 19,014,250 | |
| Brighthouse Financial Inc | ||
| Eric Steigerwalt | 8,133,344 | |
| Brunswick Corp | ||
| David M Foulkes | 7,820,863 | |
| Centene Corp | ||
| Michael F Neidorff | 24,956,777 | |
| Kenneth A. Burdick | 15,042,226 | |
| Jeffrey A Schwaneke | 8,006,713 | |
| Brandy L Burkhalter | 7,807,113 | |
| Jesse N Hunter | 7,679,402 | |
| Chubb Ltd | ||
| Evan G Greenberg | 20,328,167 | |
| John W Keogh | 8,627,780 | |
| John J Lupica | 6,722,380 | |
| Paul J Krump | 6,438,889 | |
| Philip V Bancroft | 5,012,115 | |
| Cigna Corp | ||
| David M Cordani | 19,929,493 | |
| Timothy C Wentworth | 10,780,189 | |
| Eric P Palmer | 6,336,563 | |
| Matthew G Manders | 6,204,451 | |
| CNA Financial Corp | ||
| Dino E Robusto | 11,469,174 | |
| Douglas M Worman | 5,157,796 | |
| CNO Financial Group Inc | ||
| Gary C Bhojwani | 8,260,886 | |
| CVS Health Corp | ||
| Larry J Merlo | 23,043,822 | |
| Jonathan C Roberts | 13,001,212 | |
| Karen S Lynch | 11,307,916 | |
| Eva C Boratto | 8,921,153 | |
| Alan M Lotvin MD | 7,472,175 | |
| Equitable Holdings Inc | ||
| Mark Pearson | 14,874,955 | |
| Seth Bernstein | 9,402,563 | |
| Jeffrey Hurd | 5,359,626 | |
| Nick Lane | 5,225,351 | |
| Anders Malmström | 5,120,515 | |
| Everest Re Group Ltd | ||
| Juan C Andrade | 8,063,212 | |
| Mark Kociancic | 5,791,714 | |
| Fidelity National Financial Inc | ||
| Raymond R Quirk | 9,716,868 | |
| First American Financial Corp | ||
| Dennis J Gilmore | 11,173,959 | |
| Kenneth D DeGiorgio | 5,538,235 | |
| Christopher M Leavell | 5,528,016 | |
| Genworth Financial Inc | ||
| Kevin D Schneider | 9,087,804 | |
| Daniel J Sheehan IV | 8,635,193 | |
| Thomas J McInerney | 7,357,588 | |
| Globe Life Inc | ||
| Gary L Coleman | 9,158,910 | |
| Larry M Hutchison | 8,443,364 | |
| Hartford Financial Services Group Inc | ||
| Christopher Swift | 11,806,195 | |
| Douglas Elliot | 7,542,532 | |
| Heritage Insurance Holdings Inc | ||
| Bruce Lucas | 7,787,404 | |
| Humana Inc | ||
| Bruce D Broussard | 16,489,639 | |
| Brian A Kane | 5,543,558 | |
| Kemper Corp | ||
| Joseph P Lacher Jr | 9,251,315 | |
| Lincoln National Corp | ||
| Dennis R Glass | 14,300,822 | |
| Loews Corp | ||
| James S Tisch | 5,838,853 | |
| David B Edelson | 5,698,625 | |
| Kenneth I Siegel | 5,571,515 | |
| Jonathan M Tisch | 5,066,530 | |
| Magellan Health Inc | ||
| Kenneth J Fasola | 7,516,266 | |
| James Murray | 7,382,021 | |
| Manulife Financial Corp | ||
| (Canadian Dollars) | ||
| Roy Gori | 14,697,088 | |
| Marianne Harrison | 5,904,563 | |
| Anil Wadhwani | 5,700,992 | |
| Scott Hartz | 5,353,629 | |
| Phil Witherington | 5,171,813 | |
| Marsh & McLennan Companies Inc | ||
| Daniel S Glaser | 19,695,980 | |
| John Q Doyle | 8,202,312 | |
| Mark C McGivney | 5,943,911 | |
| Peter C Heam | 5,734,867 | |
| Martine Ferland | 5,145,730 | |
| MetLife Inc | ||
| Michel A Khalaf | 15,434,255 | |
| Bill Pappas | 7,063,257 | |
| Steven J Goulart | 6,839,384 | |
| John D McCallion | 6,800,860 | |
| Ramy Tadros | 5,681,122 | |
| MGIC Investment Corp | ||
| Timothy Mattke | 5,517,169 | |
| Molina Healthcare Inc | ||
| Joseph M Zubretsky | 17,812,327 | |
| Marc S Russo | 6,189,788 | |
| Mr Cooper Group Inc | ||
| Jay Bray | 9,261,290 | |
| Christopher Marshall | 5,747,012 | |
| Anthony Ebers | 5,261,400 | |
| Primerica Inc | ||
| Glenn J Williams | 5,279,867 | |
| Principal Financial Group Inc | ||
| Daniel J Houston | 15,614,418 | |
| Timothy M Dunbar | 5,414,165 | |
| Deanna D Strable-Soethout | 5,234,424 | |
| Progressive Corp | ||
| Susan Patricia Griffith | 15,220,523 | |
| Protective Life Ins Co | ||
| Richard J Bielen | 6,467,503 | |
| Prudential Financial Inc | ||
| Charles F Lowrey | 14,990,254 | |
| Robert M Falzon | 11,986,516 | |
| Stephen Pelletier | 9,257,246 | |
| Scott G Sleyster | 7,672,098 | |
| Andrew F Sullivan | 6,271,772 | |
| Kenneth Y Tanji | 5,040,380 | |
| Radian Group Inc | ||
| Richard G Thornberry | 7,944,227 | |
| Reinsurance Group of America Inc | ||
| Anna Manning | 9,044,233 | |
| RenaissanceRe Holdings Ltd | ||
| Kevin J O'Donnell | 9,556,635 | |
| Sun Life Financial Inc | ||
| (Canadian Dollars) | ||
| Dean A Connor | 10,090,374 | |
| Stephen C Peacher | 7,152,382 | |
| Travelers Companies Inc | ||
| Alan D Schnitzer | 18,990,270 | |
| Avrohom J Kess | 6,576,439 | |
| Gregory C Toczydlowski | 5,446,367 | |
| Michael F Klein | 5,136,598 | |
| Daniel S Frey | 5,122,446 | |
| UnitedHealth Group Inc | ||
| David S Wichmann | 17,872,713 | |
| Andrew Witty | 12,857,176 | |
| Dirk C McMahon | 12,606,484 | |
| John F Rex | 12,597,062 | |
| Patricia L Lewis | 7,190,693 | |
| Unum Group | ||
| Richard P McKenney | 13,258,738 | |
| Voya Financial Inc | ||
| Rodney O Martin Jr | 13,597,008 | |
| Christine Hurtsellers | 5,414,402 | |
| W R Berkley Corp | ||
| William R Berkley | 10,153,856 | |
| W Robert Berkley Jr | 9,982,728 | |
| White Mountains Ins Group Ltd | ||
| G Manning Rountree | 7,170,628 | |
| Frank R Bazos | 5,417,208 | |
| Reid T Campbell | 5,255,382 | |
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Email: jmbelth@gmail.com
Blog: www.josephmbelth.com