The highest-paid CEO among U.S.-traded P&C personal linesinsurers received $15.6 million in total compensation last year,according to data compiled by SNL Financial.
|Missing from the list of the top 10 is Berkshire Hathaway'sWarren Buffet. The Oracle of Omaha received $464,011in total compensation in 2014. His base salary of $100,000 hasremain unchanged for 25 years, SNL Financial reports. However, he'sfar from destitute: His stock ownership, as disclosed in a July 6filing, amounts to more than $61 billion.
|SNL Financial ranked 2014 total compensation among CEOs orequivalent roles at NYSE and NASDAQ-listed companies classified asP&C insurance carriers. The ranking is limited to companiesthat disclosed compensation in publicly filed proxy statements.Offshore P&C resinsurers based in Bermuda, the Cayman Islandsand Ireland were not included in SNL's analysis.
|Last week, PC360 highlighted the top 10 highest-paid CEOs atcommercial carriers. Below and on the followingpages, the top 10 highest-paid personal lines CEOs.
||
10. John L. Forney,
United Insurance Holdings Corp.
2014 base salary: $587,000
|2014 total compensation: $1,668,382
|(Photo courtesy of United Insurance HoldingsCorp.)
|||9. Gabriel Tirador,
Mercury General Corp.
2014 base salary: $888,805
|2014 total compensation: $$2,535,719
|||(Photo courtesy of Infinity Property and CasualtyCorp.)
|8. James Gober,
Infinity Property and Casualty Corp.
2014 base salary: $571,885
|2014 total compensation: $2,575,055
|||
7. Marita Zuraitis,
Horace Mann Educators Corp.
2014 base salary: $690,500
|2014 total compensation: $2,665,177
||6. David Brussard,
Safety Insurance GroupInc.
2014 base salary: $828,426
|2014 total compensation: $3,350,546
|||
5. Pareshbhai Patel,
HCI Group Inc.
2014 base salary: $500,481
|2014 total compensation: $4,042,601
|The bulk of Patel's compensation comes from a $3.125 millionbonus. Last year, Patel brought in about $15 million, whichincluded $10.6 million in restricted stock.
|||4. Terrence Cavanaugh,
Erie IndemnityCo.
2014 base salary: $935,000
|2014 total compensation: $4,140,153
|||
(AP Photo/Tony Dejak)
|3. Glenn Renwick,
Progressive Corp.
2014 base salary: $750,000
|2014 total compensation: $9,841,581
|Renick's compensation comes primarily from stock awards, wherehe received $7.5 million last year, according to SNL data.
|||2. Sean Downes,
Universal Insurance Holdings Inc.
2014 base salary: $2,154,912
|2014 total compensation: $14,122,856
|Downes has the highest base salary among the top 10. He alsoreceived the highest amount of nonequity incentive plancompensation, at nearly $5.5 million.
|||1. Thomas J. Wilson,
Allstate Corp.
2014 base salary: $1,141,346
|2014 total compensation: $15,641,385
|Wilson's total compensation decreased by nearly $3 million fromthe year previous, due in part to receiving a smaller annual cashincentive in 2014. Nearly half of Wilson's total compensation--$7.7million--consisted of almost equal parts stock and option awards,SNL Financial reports.
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