In its 2010 Executive Compensation Review, Charlottesville, Va.-based SNL Financial, a provider of financial data and analysis on the banking, financial services and insurance markets, examines pay packages across a number of lines of business for the 2009 fiscal year. While CEO base salary ebbed slightly (down .86%) for all insurance companies, there were some large variances across all lines, notes the report.
For example, while multiline and property/casualty CEOs saw base salary increases of 5.81% and 4.26% respectively, life/health and managed care CEOs saw a decline of 16.21% and 12.21%. Given the long-term nature of executive compensation packages, the fact these retrenchments occurred as health insurers came under increased scrutiny during the health care reform debate is likely coincidental.
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