Mild weather and positive commercial-pricing trends bolstered insurers' 2013 results and, consequently, bonus payouts are largely up for the year. But the success of 2013 may set the bar considerably high for bonuses in 2014, Towers Watson says.
“As insurers wrap up their books for 2013, both management and boards can feel good about the performance they delivered and the resulting payouts,” Towers Watson says in a statement about its survey of 50 leading insurance companies about their 2013 bonus-pool funding and results.
For 2013, Towers Watson notes over 80% of participating insurers in its survey estimated their bonus pools would fund above target for 2013, with 70% of those companies estimating funding levels at 125% of target or higher.
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