Insurance Executives' Compensation and Rate Hikes
A Consumer Federation of America (CFA) report found that executives of the top 10 largest insurance companies received $134 million in total compensation in 2024.
Meanwhile, their customers faced sizable premium hikes and increasingly widespread non-renewal notices. Auto insurance costs were 7% higher in May 2025, compared to May 2024.
Industry profits increased to $169 million in 2024, according to an Oct. 22 release about the report.
“2024 was a bad year for policyholders, but another great year for insurance company shareholders and their CEOs,”
said Michael DeLong, CFA’s Research and Advocacy Associate. He added that customers were paying the price for insurer greed and executive excess.
- Total compensation for top 10 insurance executives: $134 million
- Auto insurance cost increase: 7% in May 2025 compared to May 2024
- Industry profits: $169 million in 2024
Author's summary: Insurance executives' high compensation amidst rate hikes sparks criticism.
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