Posted On: June 12, 2009, 12:45 pm CDT

Posted By: Kathy

By the way, MOST of the information below was copied from THIS Insurance Journal so if it is a lie, then consider the source!

• Over the last 10 years, the property / casualty and life / health insurance industries have each enjoyed annual profits exceeding $30 billion.
• The insurance industry takes in over $1 trillion in premiums every year. It has $3.8 trillion in assets, more than the GDPs of all but two countries.
• The CEOs of the top 10 property / casualty firms earned an average of $8.9 million in 2007. The CEOs of the top 10 life / health insurance earned an average of $9.1 million.
• The median insurance CEO's cash compensation is $1.6 million per year, leading all industries.
• State Farm Insurance's chairman and CEO received an 82 percent raise after the company posted a record profit last year, a statement from the Bloomington-Ill.-based insurer said this week.
• Chairman and Chief Executive Officer Ed Rust Jr. got a $5.26 million raise. He earned $11.66 million in 2006 with a base salary of $1.77 million and results-based bonus of $9.89 million, the statement said. Rust made $6.4 million in 2005 and $5.5 million in 2004.
• The absence of a major catastrophe helped the insurer generate a record $5.32 billion profit last year, compared to $3.24 billion in 2005 when Hurricane Katrina hit the Mississippi Gulf Coast, release said.
Forbes Magazine reported Liddy's (Allstate's CEO) total compensation for 2006 to be $18 million, and his 5-year compensation total to be $70 million. In 2005, Liddy's compensation total was $27 million.