The impact of the financial services meltdown is evident all around the insurance industry. A new survey from Charlottesville, Va.-based SNL Financial leaves no doubt about the wounds the crisis has inflicted on the compensation of C-level insurance executives.

The survey, “Executive Compensation Review for Insurance,” notes that total compensation was down by 11% across all lines of business. Not surprisingly, the most auspicious drop came for executives in the mortgage and financial guarantee sector, where CEOs saw their year-over-year compensation fall by an average of 73% and CFOs saw a 46% reduction. CEOs at multi-line and managed care carriers also took a big hit, recording average reductions of 27% and 24%, respectively. The sole line of business to counter this trend was life and health insurers, whose CEOs recorded a 3% increase.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access