While not reaching the top 10 for highest paid P&C insurance CEOs in 2023, many top industry executives still experienced monumental pay increases year-over-year, according to a recent study by S&P Global Market Intelligence.

Three insurance CEOs watched their salaries balloon at least 200% since 2022, the data showed, with four more chief executives receiving financial bumps of at least 100%.

S&P Global said Global Indemnity Group's Joseph Brown's compensation package year-over-year increase of 280.5% topped the list, moving him from $800,000 in 2022 to $3 million in 2023. Paresh Patel, CEO of the HCI Group, followed with a 255.2% increase to $3.7 million, while Skyward Specialty Insurance Group Inc. CEO Andrew Robinson finished in the third spot at a 233.1% rise to $9.2 million in compensation.

Other CEOs with significant year-over-year compensation increases include: |

• Giuseppina Albo of Hamilton Insurance Group saw a 125.4% increase in year-over-year salary, moving to $12.8 million in 2023.
• Ernesto Garateix of Heritage Insurance Holdings saw a 111.2% increase in year-over-year salary, moving to $5 million in 2023.
• Thomas Gayner of the Markel Group saw a 102.1% increase in year-over-year salary, moving to $8.1 million in 2023.
• Stephen Sills of Bowhead Specialty Holdings saw a 100% increase in year-over-year salary, moving to $1.4 million in 2023.

The data and slideshow above illustrates the highest paid P&C insurance company CEOs in 2023, according to S&P Global Market Intelligence.

See also: |

• What drivers should know about Labor Day road safety
• How organizations can fight phishing and social engineering
• 21 Cities that attract fresh college grads