Week in Review - April 26, 2023

It’s proxy season and that means the once-a-year peek into the compensation of CEOs of publicly traded companies. This year,?P&C Specialist?looked at which CEOs took?home notable perks?such as private jets and private club memberships. Two CEOs who each oversee a Top 10 personal lines carrier made a shareholder advocacy group’s list of the?most overpaid chief executives?in the U.S.

And thanks to regulatory filings, the compensation of CEOs at mutual/private insurers is also?publicly available. The data confirmed that?State Farm?CEO?Michael Tipsord?was the best paid boss last year.

In 2022, some CEOs took a pay cut as business soured, while others earned raises and nice bonuses. Overall, the cost of salaries continued to rise.?P&C Specialist?ranked the personal lines carriers with the?biggest increase in salary costs?over the past four years.

Insurance companies continue to fine-tune their return-to-office plans, with?USAA?the latest to make some changes, which were?not welcomed?by all the rank-and-file.?Progressive?allows many of its employees to work full-time remote, and that’s had a big?financial impact?on its hometown of Mayfield Village, Ohio. The top personal lines insurer is not the only one needing less office space and?P&C Specialist?analyzed which carriers enjoyed the?biggest cuts in office rents.

Chart of the week

Keep reading

Which CEOs Took Home the Biggest Perks in 2022?

Two P&C CEOs Make ‘Most Overpaid’ Chief Exec Ranking

CEOs of Mutual/Private Carriers Ranked by Highest Disclosed Pay in 2022

Personal Lines Carriers with Biggest Surge in Salary Costs in Past 4 Years

USAA Increases Mandatory Days in the Office for Some Employees

Progressive’s Work-From-Home Policies Hit its Hometown Hard

Personal Lines Carriers Ranked by Biggest Cut in Office Rent Costs

These P&C CEOs Earned the Most Compared to Their Median Employee

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