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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,...
Most 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.
Insurance: highest remuneration of CEO or GM, year 2020
In USD
| Group | Position | Fixed salary | Variable (1) | Remuneration 2020 | Remuneration 2019 |
Aon | President - General Manager | 1 547 582 | 19 308 149 | 20 855 731 | 15 954 623 |
Marsh & Mclennam | President - General Manager | 1 547 582 | 18 773 184 | 20 320 766 | 20 264 521 |
Willis Towers Watson | Executive Manager-CEO | 1 238 066 | 13 113 594 | 14 351 660 | 13 099 800 |
Aon | Executive Vice President | 1 031 721 | 11 600 619 | 12 632 340 | 7 713 686 |
Zurich Insurance | General Manager | 2 422 089 | 10 115 785 | 12 537 874 | 9 789 816 |
Allianz | President | 2 119 942 | 5 706 403 | 7 826 345 | 8 406 789 |
Prudential | Group General Manager | 1 655 311 | 6 034 454 | 7 689 765 | 8 352 017 |
Swiss Re | General Manager | 1 676 548 | 5 103 411 | 6 779 959 | 6 244 429 |
Generali | General Manager | 1 762 963 | 5 004 627 | 6 767 590 | 6 891 698 |
Scor | President - General Manager | 1 473 888 | 4 775 585 | 6 249 473 | 7 636 332 |
Munich Re/Ergo | Member of the Board of Directors of Munich Re and CEO of Ergo | 3 377 660 | 2 355 899 | 5 733 559 | 5 181 586 |
Prudential | Directeur financier | 1 396 263 | 4 275 700 | 5 671 963 | 4 300 934 |
Munich Re | President | 2 855 658 | 2 016 244 | 4 871 902 | 4 375 492 |
Aviva | Executive Manager | 1 139 807 | 3 542 157 | 4 681 964 | 582 988 |
Axa | General Manager | 1 780 948 | 2 797 941 | 4 578 889 | 5 157 238 |
Allianz | Member of the Board of Directors | 1 288 424 | 3 107 447 | 4 395 871 | 4 770 604 |
Swiss Life | General Manager | 1 676 548 | 2 660 618 | 4 337 166 | 4 479 459 |
Swiss Re | President | 2 557 294 | 1 698 902 | 4 256 196 | 4 008 561 |
Aviva | General Manager | 880 501 | 2 930 728 | 3 811 229 | 2 728 483 |
Hannover Re | President | 1 080 851 | 1 600 274 | 2 681 125 | 3 263 944 |
Hiscox | General Manager | 925 559 | 1 650 972 | 2 576 531 | 867 888 |
Coface | General Manager | 849 533 | 1 512 146 | 2 361 679 | 2 154 371 |
Zurich Insurance | President | 1 047 842 | 1 117 698 | 2 165 540 | 1 579 003 |
Covéa | President - General Manager | 1 959 812 | 95 213 | 2 055 025 | 1 880 865 |
Prudential | President | 1 397 688 | 454 498 | 1 852 186 | 1 156 031 |
Lloyd's | Executive Manager-CEO | 882 518 | 881 160 | 1 763 678 | 1 948 431 |
Ping An Insurance Group | Executive Manager-CEO, Executive Vice President | 874 523 | 119 127 | 1 652 063 | 1 304 643 |
Lloyd's | Chief Financial Officer (CFO) | 610 974 | 898 811 | 1 509 785 | 979 136 |
Ping An Insurance Group | Chief Financial Officer | 790 257 | 93 283 | 1 399 114 | 916 699 |
Swiss Life | Chairman of the Board of Directors | 938 867 | 402 920 | 1 341 787 | 1 263 719 |
Generali | President | 1 179 111 | 11 781 | 1 190 892 | 1 206 007 |
Axa | President | 1 105 416 | - | 1 105 416 | 1 343 832 |
Hannover Re | Member of the Board of Directors | 540 426 | 544 356 | 1 084 782 | 904 847 |
Hannover Re | Member of the Board of Directors | 502 105 | 474 715 | 976 819 | 935 643 |
Maif | General Manager | 571 029 | 220 712 | 791 741 | 649 965 |
Coface | President | 581 103 | 198 514 | 779 617 | 2 184 450 |
CNP Assurances | General Manager | 491 296 | 49 130 | 540 426 | 503 937 |
Maif | President | 474 086 | 50 053 | 524 139 | 440 992 |
La Banque Postale | Chairman of the Board of Directors | 433 175 | 4 113 | 437 288 | 508 210 |
Macif | General Manager | 412 687 | 19 979 | 432 666 | 370 292 |
Macif | Deputy General Manager | 383 213 | 17 328 | 400 541 | 389 559 |
Groupama | President of the national federation | 318 360 | 43 297 | 361 657 | 329 734 |
Macif | President | 319 342 | 3 891 | 323 233 | 207 362 |
CNP Assurances | President | 185 660 | - | 185 660 | 313 561 |
(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
