By any account, comparing compensation across the life insurance industry is a tricky business. Institutional Shareholders Services Inc (ISS) cites 20-plus long-term benchmarks and nearly 40 short-term ones that may contribute to an executive’s realizable pay. The one existing standard, Summary Compensation Tables (STC) pay, is a combination of actual pay (salary and annual incentives) and target pay for long-term awards.
The obvious benefit of this standard is its relative simplicity. “We prefer to stick with the SEC-mandated disclosures found in summary compensation tables in keeping with our KISS philosophy — keep it simple, stupid!” says Kevin McManus, editor and president of ProxyTell LLC, a proxy advisory firm. “We use these numbers because they’re easy, simple and accurate.”
Below, we list SCT pay for ten top life insurance CEOs from U.S. publicly held life insurance companies.