A proxy filed with the Securities and Exchange Commission shows that that the CEO of Chicago-based CNA received a 43 percent pay increase last year, according to Crain’s Chicago Business.
CEO Stephen Lilienthal received $986,538 in salary and a $1.9-million bonus in 2003, compared to $802,885 and a $1.2-million bonus in 2002. Last year was marked by a series of reserve charges totaling $1.8 billion that badly affected the insurer’s bottom line. However, a new debt plan yielded favorable reviews from the ratings agencies.
Was this article valuable?
Here are more articles you may enjoy.
California Insurance Commissioner Race Has Diverse Field Amid ‘Insurance Crisis’ 
Four Georgia Troopers Fired in Vehicle Pursuit-Insurance Scheme 
Ex-CEO, Ex-CFO of Bankrupt AI Company Charged With Fraud 
Amish Mother and 6 Children Killed in Explosion and Fire at Pennsylvania Home 
