SIC Code 63
Insurance Carriers
Data updated July 2026
54 companies · FY2025
Median Pay Ratio
69:1
Avg Pay Ratio
103:1
Median CEO Pay
$8.2M
Avg CEO Pay
$9.5M
Reading the Insurance Carriers CEO Pay Landscape (SIC 63, FY2025)
The Insurance Carriers industry, classified under 2-digit SIC code 63, had 54 SEC-reporting public companies disclose CEO pay ratio data in fiscal year 2025. Across that set of firms, the median CEO-to-worker pay ratio was 69:1 and the average was 103:1. Median CEO total compensation in the sector was $8.2M, with the sector-wide average at $9.5M. These figures are aggregated from DEF 14A proxy statements filed under Section 953(b) of the Dodd-Frank Act, which requires every U.S.-listed reporting company to compare its CEO's total compensation against a representative median employee.
Pay dispersion inside this industry is substantial. The 25th percentile CEO in Insurance Carriers earned $2.4M, while the 75th percentile CEO earned $11.3M - a spread that shows how firm size, equity-heavy compensation packages, and performance-linked incentives can drive very different outcomes even among peers sharing the same SIC code. When the average and median ratios are close, as they are here, pay practices in the sector are relatively uniform and the median is a reliable representative value.
Below you can scan each of the 122 Insurance Carriers companies PlainCEOPay currently tracks in this SIC group, with reported CEO total compensation, median worker pay, and individual pay ratios. Company pages show how each available filing compares with this industry benchmark. The current dataset does not include a CEO name or an itemized compensation breakdown for each company. All displayed figures are drawn from SEC EDGAR filings; they are not estimated, imputed, or projected.
Companies in Insurance Carriers (122)
| Company | CEO Pay | Median Worker | Pay Ratio | FY |
|---|---|---|---|---|
| Unitedhealth Group IncSEC EDGAR DEF 14A, CIK 731766 | $60.9M | $81K | 748:1 | 2025 |
| American National Group Inc.SEC EDGAR DEF 14A, CIK 1039828 | $9.6M | $21K | 466:1 | 2022 |
| Oscar Health, Inc.SEC EDGAR DEF 14A, CIK 1568651 | $44.7M | $98K | 455:1 | 2023 |
| Aflac IncSEC EDGAR DEF 14A, CIK 4977 | $25.0M | $63K | 396:1 | 2025 |
| Elevance Health, Inc.SEC EDGAR DEF 14A, CIK 1156039 | $21.9M | $56K | 389:1 | 2023 |
| Unitedhealth Group IncSEC EDGAR DEF 14A, CIK 731766 | $23.5M | $67K | 352:1 | 2023 |
| Aflac IncSEC EDGAR DEF 14A, CIK 4977 | $20.7M | $64K | 324:1 | 2023 |
| Cigna GroupSEC EDGAR DEF 14A, CIK 1739940 | - | - | 310:1 | 2025 |
| Allstate CorpSEC EDGAR DEF 14A, CIK 899051 | $22.9M | $75K | 306:1 | 2025 |
| Elevance Health, Inc.SEC EDGAR DEF 14A, CIK 1156039 | $22.6M | $79K | 286:1 | 2025 |
| Lincoln National CorpSEC EDGAR DEF 14A, CIK 59558 | $28.0M | $101K | 277:1 | 2025 |
| Assurant, Inc.SEC EDGAR DEF 14A, CIK 1267238 | $15.2M | $57K | 268:1 | 2025 |
| Metlife IncSEC EDGAR DEF 14A, CIK 1099219 | $20.6M | $82K | 252:1 | 2023 |
| Allstate CorpSEC EDGAR DEF 14A, CIK 899051 | $16.5M | $69K | 239:1 | 2023 |
| National Western Life Group, Inc.SEC EDGAR DEF 14A, CIK 1635984 | $12.9M | $56K | 231:1 | 2022 |
| Progressive Corp/oh/SEC EDGAR DEF 14A, CIK 80661 | $15.6M | $72K | 218:1 | 2023 |
| Alignment Healthcare, Inc.SEC EDGAR DEF 14A, CIK 1832466 | - | - | 216:1 | 2023 |
| Prudential Financial IncSEC EDGAR DEF 14A, CIK 1137774 | $19.2M | $92K | 210:1 | 2023 |
| Progressive Corp/oh/SEC EDGAR DEF 14A, CIK 80661 | $17.7M | $87K | 204:1 | 2025 |
| Travelers Companies, Inc.SEC EDGAR DEF 14A, CIK 86312 | - | - | 194:1 | 2023 |
| Principal Financial Group IncSEC EDGAR DEF 14A, CIK 1126328 | $15.2M | $78K | 194:1 | 2023 |
| Humana IncSEC EDGAR DEF 14A, CIK 49071 | - | - | 192:1 | 2023 |
| Alignment Healthcare, Inc.SEC EDGAR DEF 14A, CIK 1832466 | $11.3M | $71K | 158:1 | 2025 |
| Principal Financial Group IncSEC EDGAR DEF 14A, CIK 1126328 | $13.6M | $88K | 155:1 | 2025 |
| Globe Life Inc.SEC EDGAR DEF 14A, CIK 320335 | - | - | 152:1 | 2025 |
| Lincoln National CorpSEC EDGAR DEF 14A, CIK 59558 | $13.4M | $94K | 142:1 | 2023 |
| NeueHealth, Inc.SEC EDGAR DEF 14A, CIK 1671284 | $10.0M | $72K | 140:1 | 2022 |
| Fidelity National Financial, Inc.SEC EDGAR DEF 14A, CIK 1331875 | $11.6M | $85K | 137:1 | 2025 |
| KEMPER CorpSEC EDGAR DEF 14A, CIK 860748 | $8.2M | $60K | 135:1 | 2023 |
| Fidelity National Financial, Inc.SEC EDGAR DEF 14A, CIK 1331875 | $9.8M | $74K | 133:1 | 2023 |
| Jackson Financial Inc.SEC EDGAR DEF 14A, CIK 1822993 | $11.0M | $84K | 131:1 | 2023 |
| KEMPER CorpSEC EDGAR DEF 14A, CIK 860748 | $8.0M | $63K | 127:1 | 2025 |
| CNO Financial Group, Inc.SEC EDGAR DEF 14A, CIK 1224608 | $9.7M | $82K | 119:1 | 2023 |
| Globe Life Inc.SEC EDGAR DEF 14A, CIK 320335 | - | - | 118:1 | 2023 |
| Root, Inc.SEC EDGAR DEF 14A, CIK 1788882 | $8.7M | $74K | 118:1 | 2023 |
| First American Financial CorpSEC EDGAR DEF 14A, CIK 1472787 | $7.1M | $60K | 117:1 | 2023 |
| Jackson Financial Inc.SEC EDGAR DEF 14A, CIK 1822993 | $11.5M | $98K | 117:1 | 2025 |
| CNO Financial Group, Inc.SEC EDGAR DEF 14A, CIK 1224608 | $11.2M | $99K | 113:1 | 2025 |
| Loews CorpSEC EDGAR DEF 14A, CIK 60086 | $6.9M | $66K | 105:1 | 2023 |
| Arch Capital Group Ltd.SEC EDGAR DEF 14A, CIK 947484 | - | - | 105:1 | 2025 |
| Radian Group IncSEC EDGAR DEF 14A, CIK 890926 | $12.8M | $123K | 104:1 | 2023 |
| White Mountains Insurance Group LtdSEC EDGAR DEF 14A, CIK 776867 | $7.6M | $74K | 102:1 | 2023 |
| First American Financial CorpSEC EDGAR DEF 14A, CIK 1472787 | $8.3M | $82K | 101:1 | 2025 |
| Essent Group Ltd.SEC EDGAR DEF 14A, CIK 1448893 | - | - | 100:1 | 2025 |
| Old Republic International CorpSEC EDGAR DEF 14A, CIK 74260 | $8.2M | $84K | 98:1 | 2025 |
| Primerica, Inc.SEC EDGAR DEF 14A, CIK 1475922 | $5.6M | $59K | 95:1 | 2025 |
| Reinsurance Group Of America IncSEC EDGAR DEF 14A, CIK 898174 | $13.5M | $146K | 93:1 | 2023 |
| SiriusPoint LtdSEC EDGAR DEF 14A, CIK 1576018 | - | - | 93:1 | 2023 |
| Loews CorpSEC EDGAR DEF 14A, CIK 60086 | $8.8M | $94K | 93:1 | 2025 |
| Clover Health Investments, Corp. /deSEC EDGAR DEF 14A, CIK 1801170 | - | - | 88:1 | 2023 |
| F&G Annuities & Life, Inc.SEC EDGAR DEF 14A, CIK 1934850 | $10.6M | $123K | 86:1 | 2023 |
| Arch Capital Group Ltd.SEC EDGAR DEF 14A, CIK 947484 | $12.7M | $147K | 86:1 | 2023 |
| Hanover Insurance Group, Inc.SEC EDGAR DEF 14A, CIK 944695 | $7.6M | $90K | 85:1 | 2025 |
| Genworth Financial IncSEC EDGAR DEF 14A, CIK 1276520 | $9.9M | $119K | 83:1 | 2023 |
| Reinsurance Group Of America IncSEC EDGAR DEF 14A, CIK 898174 | $13.1M | $168K | 78:1 | 2025 |
| Radian Group IncSEC EDGAR DEF 14A, CIK 890926 | $11.3M | $145K | 78:1 | 2025 |
| F&G Annuities & Life, Inc.SEC EDGAR DEF 14A, CIK 1934850 | $10.9M | $141K | 77:1 | 2025 |
| Primerica, Inc.SEC EDGAR DEF 14A, CIK 1475922 | $4.2M | $57K | 74:1 | 2023 |
| SiriusPoint LtdSEC EDGAR DEF 14A, CIK 1576018 | - | - | 74:1 | 2025 |
| Old Republic International CorpSEC EDGAR DEF 14A, CIK 74260 | $5.9M | $84K | 70:1 | 2023 |
| White Mountains Insurance Group LtdSEC EDGAR DEF 14A, CIK 776867 | $8.1M | $117K | 69:1 | 2025 |
| Brighthouse Financial, Inc.SEC EDGAR DEF 14A, CIK 1685040 | $10.5M | $152K | 69:1 | 2025 |
| Hanover Insurance Group, Inc.SEC EDGAR DEF 14A, CIK 944695 | $5.4M | $80K | 67:1 | 2023 |
| Brighthouse Financial, Inc.SEC EDGAR DEF 14A, CIK 1685040 | $9.9M | $153K | 65:1 | 2023 |
| Palomar Holdings, Inc.SEC EDGAR DEF 14A, CIK 1761312 | $9.0M | $138K | 65:1 | 2025 |
| Enstar Group LTDSEC EDGAR DEF 14A, CIK 1363829 | - | - | 62:1 | 2023 |
| Mbia IncSEC EDGAR DEF 14A, CIK 814585 | $17.1M | $290K | 59:1 | 2023 |
| Lemonade, Inc.SEC EDGAR DEF 14A, CIK 1691421 | $6.1M | $108K | 57:1 | 2025 |
| HCI Group, Inc.SEC EDGAR DEF 14A, CIK 1400810 | $3.7M | $66K | 56:1 | 2023 |
| NMI Holdings, Inc.SEC EDGAR DEF 14A, CIK 1547903 | $10.2M | $186K | 55:1 | 2025 |
| Axis Capital Holdings LtdSEC EDGAR DEF 14A, CIK 1214816 | $9.6M | $177K | 55:1 | 2025 |
| Kinsale Capital Group, Inc.SEC EDGAR DEF 14A, CIK 1669162 | - | - | 52:1 | 2025 |
| Axis Capital Holdings LtdSEC EDGAR DEF 14A, CIK 1214816 | $6.8M | $138K | 49:1 | 2023 |
| Everest Group, Ltd.SEC EDGAR DEF 14A, CIK 1095073 | $9.2M | $187K | 49:1 | 2025 |
| NMI Holdings, Inc.SEC EDGAR DEF 14A, CIK 1547903 | $7.9M | $165K | 48:1 | 2023 |
| Universal Insurance Holdings, Inc.SEC EDGAR DEF 14A, CIK 891166 | $5.2M | $109K | 48:1 | 2025 |
| Universal Insurance Holdings, Inc.SEC EDGAR DEF 14A, CIK 891166 | $4.3M | $91K | 47:1 | 2023 |
| Safety Insurance Group IncSEC EDGAR DEF 14A, CIK 1172052 | - | - | 43:1 | 2025 |
| Skyward Specialty Insurance Group, Inc.SEC EDGAR DEF 14A, CIK 1519449 | $5.5M | $135K | 41:1 | 2025 |
| Trupanion, Inc.SEC EDGAR DEF 14A, CIK 1371285 | $4.2M | $102K | 41:1 | 2025 |
| Berkshire Hathaway IncSEC EDGAR DEF 14A, CIK 1067983 | $3.0M | $77K | 39:1 | 2023 |
| Heritage Insurance Holdings, Inc.SEC EDGAR DEF 14A, CIK 1598665 | $3.0M | $77K | 39:1 | 2021 |
| Employers Holdings, Inc.SEC EDGAR DEF 14A, CIK 1379041 | $3.8M | $105K | 36:1 | 2023 |
| NI Holdings, Inc.SEC EDGAR DEF 14A, CIK 1681206 | $2.7M | $83K | 32:1 | 2025 |
| Amerisafe IncSEC EDGAR DEF 14A, CIK 1018979 | $2.4M | $75K | 32:1 | 2025 |
| Amerisafe IncSEC EDGAR DEF 14A, CIK 1018979 | $2.1M | $67K | 31:1 | 2023 |
| AMERICAN COASTAL INSURANCE CorpSEC EDGAR DEF 14A, CIK 1401521 | - | - | 31:1 | 2025 |
| Employers Holdings, Inc.SEC EDGAR DEF 14A, CIK 1379041 | $3.3M | $109K | 30:1 | 2025 |
| NI Holdings, Inc.SEC EDGAR DEF 14A, CIK 1681206 | $2.3M | $78K | 29:1 | 2022 |
| United Fire Group IncSEC EDGAR DEF 14A, CIK 101199 | $2.8M | $100K | 28:1 | 2023 |
| Global Indemnity Group, LLCSEC EDGAR DEF 14A, CIK 1494904 | $2.7M | $103K | 26:1 | 2023 |
| James River Group Holdings, Inc.SEC EDGAR DEF 14A, CIK 1620459 | $2.7M | $117K | 23:1 | 2023 |
| Citizens, Inc.SEC EDGAR DEF 14A, CIK 24090 | $1.4M | $60K | 23:1 | 2022 |
| Palomar Holdings, Inc.SEC EDGAR DEF 14A, CIK 1761312 | $3.5M | $159K | 22:1 | 2023 |
| Safety Insurance Group IncSEC EDGAR DEF 14A, CIK 1172052 | - | - | 21:1 | 2023 |
| Lemonade, Inc.SEC EDGAR DEF 14A, CIK 1691421 | $1.7M | $95K | 18:1 | 2023 |
| Berkshire Hathaway IncSEC EDGAR DEF 14A, CIK 1067983 | $1.5M | $94K | 16:1 | 2025 |
| Investors Title CoSEC EDGAR DEF 14A, CIK 720858 | $916K | $76K | 12:1 | 2025 |
| Clover Health Investments, Corp. /deSEC EDGAR DEF 14A, CIK 1801170 | - | - | 10:1 | 2025 |
| Cigna GroupSEC EDGAR DEF 14A, CIK 1739940 | - | - | 9:1 | 2023 |
| Proassurance CorpSEC EDGAR DEF 14A, CIK 1127703 | $1.0M | $113K | 9:1 | 2023 |
| Global Indemnity Group, LLCSEC EDGAR DEF 14A, CIK 1494904 | $976K | $108K | 9:1 | 2025 |
| Markel Group Inc.SEC EDGAR DEF 14A, CIK 1096343 | $441K | $55K | 8:1 | 2023 |
| Essent Group Ltd.SEC EDGAR DEF 14A, CIK 1448893 | - | - | 8:1 | 2023 |
| Donegal Group IncSEC EDGAR DEF 14A, CIK 800457 | $786K | $81K | 7:1 | 2023 |
| Renaissancere Holdings LtdSEC EDGAR DEF 14A, CIK 913144 | - | - | 6:1 | 2023 |
| Octave Specialty Group IncSEC EDGAR DEF 14A, CIK 874501 | $567K | $94K | 6:1 | 2025 |
| United Fire Group IncSEC EDGAR DEF 14A, CIK 101199 | $622K | $104K | 6:1 | 2025 |
| Proassurance CorpSEC EDGAR DEF 14A, CIK 1127703 | $710K | $118K | 6:1 | 2024 |
| Kinsale Capital Group, Inc.SEC EDGAR DEF 14A, CIK 1669162 | - | - | 5:1 | 2023 |
| Markel Group Inc.SEC EDGAR DEF 14A, CIK 1096343 | $364K | $73K | 5:1 | 2025 |
| Cincinnati Financial CorpSEC EDGAR DEF 14A, CIK 20286 | - | - | 4:1 | 2023 |
| Trupanion, Inc.SEC EDGAR DEF 14A, CIK 1371285 | $346K | $87K | 4:1 | 2023 |
| Donegal Group IncSEC EDGAR DEF 14A, CIK 800457 | $1.6M | $98K | 4:1 | 2025 |
| Octave Specialty Group IncSEC EDGAR DEF 14A, CIK 874501 | $685K | $228K | 3:1 | 2023 |
| Cincinnati Financial CorpSEC EDGAR DEF 14A, CIK 20286 | $385K | $128K | 3:1 | 2025 |
| Assurant, Inc.SEC EDGAR DEF 14A, CIK 1267238 | $105K | $53K | 2:1 | 2023 |
| Greenlight Capital Re, Ltd.SEC EDGAR DEF 14A, CIK 1385613 | $327K | $163K | 2:1 | 2023 |
| Assured Guaranty LtdSEC EDGAR DEF 14A, CIK 1273813 | $306K | $306K | 1:1 | 2023 |
| Greenlight Capital Re, Ltd.SEC EDGAR DEF 14A, CIK 1385613 | $174K | $174K | 1:1 | 2025 |
| Molina Healthcare, Inc.SEC EDGAR DEF 14A, CIK 1179929 | $80K | $80K | 1:1 | 2025 |
| Assured Guaranty LtdSEC EDGAR DEF 14A, CIK 1273813 | $328K | $328K | 1:1 | 2025 |
Data Source: This data is sourced from SEC EDGAR proxy statement (DEF 14A) filings. PlainCEOPay provides this publicly available information for informational purposes only. Not investment or financial advice. Verify with SEC EDGAR →
Frequently Asked Questions
What's the typical pay ratio in Insurance Carriers? ▼
The median CEO pay ratio in Insurance Carriers is 69:1, meaning the typical CEO earns 69 times more than the median employee. The average across 54 companies is 103:1.
How much do Insurance Carriers CEOs earn? ▼
Median CEO compensation in Insurance Carriers is $8.2M, with an average of $9.5M. The 25th percentile CEO earns around $2.4M and the 75th percentile around $11.3M.
How many companies report CEO pay in Insurance Carriers? ▼
54 companies in the Insurance Carriers sector (SIC code 63) filed CEO-to-worker pay ratio disclosures with the SEC in FY2025, as required by the Dodd-Frank Wall Street Reform Act.
Where does this Insurance Carriers pay data come from? ▼
All executive compensation data is sourced from SEC EDGAR DEF 14A proxy statement filings. The Dodd-Frank Act requires publicly traded companies to disclose CEO-to-median-worker pay ratios annually. PlainCEOPay aggregates and benchmarks this data by 2-digit SIC industry code.
Read our methodology - how this data is sourced, computed, and verified.
Related
Data sourced from SEC EDGAR filings (DEF 14A proxy statements). See our methodology for details. Retrieved and formatted by PlainCEOPay
Every figure on PlainCEOPay is rendered directly from SEC EDGAR executive compensation filings, no number is typed in by an editor. Industry benchmarks are computed directly from SEC EDGAR filings, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.